<SEC-DOCUMENT>0001104659-22-077666.txt : 20230308
<SEC-HEADER>0001104659-22-077666.hdr.sgml : 20230308
<ACCEPTANCE-DATETIME>20220706153140
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-22-077666
CONFORMED SUBMISSION TYPE:	DRS/A
PUBLIC DOCUMENT COUNT:		21
FILED AS OF DATE:		20220706
<PUBLIC-REL-DATE>20230308
DATE AS OF CHANGE:		20220706

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bitdeer Technologies Group
		CENTRAL INDEX KEY:			0001899123
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRS/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	377-05798
		FILM NUMBER:		221068499

	BUSINESS ADDRESS:	
		STREET 1:		08 KALLANG AVENUE, APERIA TOWER 1, #09-0
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			339509
		BUSINESS PHONE:		65-62828220

	MAIL ADDRESS:	
		STREET 1:		08 KALLANG AVENUE, APERIA TOWER 1, #09-0
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			339509
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRS/A
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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    <title>tm2135137-18_drsa - block - 101.3134436s</title>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <div style="text-align:center; width:541.31pt; line-height:10.5pt;font-weight:bold;">
            <font style="letter-spacing:-0.192pt;">As confidentially submitted to the Securities and Exchange Commission on July 6, 2022. This draft registration statement has not been filed publicly with the Securities and Exchange Commission and all information contained herein remains confidential.</font><font style="font-weight:normal;letter-spacing:0.192pt;"> </font>
          </div>

        <div style="margin-left:20pt; margin-top:0.9pt; text-align:right; width:521.31pt; line-height:10.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.192pt;">Registration No. 333-&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;</font>&#8203;</div>
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        <div style="margin-top:4.5pt; text-align:center; width:541.31pt; line-height:14.5pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">UNITED STATES </font>
          <br >
          <font style="letter-spacing:-0.28pt;">SECURITIES AND EXCHANGE COMMISSION</font>
          <br >
          <font style="font-size:10pt;letter-spacing:-0.2pt;">WASHINGTON, D.C. 20549</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
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          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 4.06666666666668pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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          <font style="letter-spacing:-0.28pt;">FORM F-4</font>
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        <div style="margin-top:0.9pt; text-align:center; width:541.31pt; line-height:10.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.192pt;">REGISTRATION STATEMENT</font>
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        <div style="margin-top:0.9pt; text-align:center; width:541.31pt; line-height:9.5pt;font-style:italic;font-weight:bold;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">UNDER</font>
          <br >
          <font style="letter-spacing:-0.2pt;">THE SECURITIES ACT OF 1933</font><font style="font-style:normal;font-weight:normal;font-size:9.6pt;">&#8203;<font style="letter-spacing:0.192pt;"> </font></font>
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        <div style="margin-top:3.6pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 3.59999999999999pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:7.5pt; text-align:center; width:541.31pt; line-height:10.5pt;font-weight:bold;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">Bitdeer Technologies Group </font>
          <br >
          <font style="font-size:8pt;letter-spacing:-0.16pt;">(Exact name of Registrant as specified in its charter)</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="margin-top:5.41pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 5.41000000000003pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:7.5pt; text-align:center; width:541.31pt; line-height:10.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.192pt;">Not Applicable</font>
          <br >
          <font style="letter-spacing:-0.192pt;">(Translation of Registrant&#8217;s name into English)</font><font style="font-weight:normal;letter-spacing:0.192pt;"> </font>
        </div>
        <div style="margin-top:8.6pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 8.59999999999999pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:172.44pt;">
              <div style="text-align:center;">
                <font style="font-weight:bold;letter-spacing:-0.2pt;">Cayman Islands</font><font style="letter-spacing:0.2pt;"> </font>
                <br >
                <font style="letter-spacing:0.2pt;">(State or Other Jurisdiction of </font>
                <br >
                <font style="letter-spacing:0.2pt;">Incorporation or Organization) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:172.44pt;">
              <div style="text-align:center;">
                <font style="font-weight:bold;letter-spacing:-0.2pt;">6770</font><font style="letter-spacing:0.2pt;"> </font>
                <br >
                <font style="letter-spacing:0.2pt;">(Primary Standard Industrial </font>
                <br >
                <font style="letter-spacing:0.2pt;">Classification Code Number) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:172.43pt;">
              <div style="text-align:center;">
                <font style="font-weight:bold;letter-spacing:-0.2pt;">Not Applicable</font><font style="letter-spacing:0.2pt;"> </font>
                <br >
                <font style="letter-spacing:0.2pt;">(I.R.S. Employer </font>
                <br >
                <font style="letter-spacing:0.2pt;">Identification Number)</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:3.5pt; text-align:center; width:541.31pt; line-height:10.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.192pt;">08 Kallang Avenue</font>
          <br >
          <font style="letter-spacing:-0.192pt;">Aperia tower 1, #09-03/04</font>
          <br >
          <font style="letter-spacing:-0.192pt;">Singapore 339509</font>
          <br >
          <font style="letter-spacing:-0.192pt;">Telephone: +65 62828220 </font>
        </div>
        <div style="margin-top:0.9pt; text-align:center; width:541.31pt; line-height:9pt;font-size:8pt;">
          <font style="letter-spacing:0.16pt;">(Address, including zip code, and telephone number, including area code, of Registrant&#8217;s principal executive offices)</font><font style="font-size:9.6pt;">&#8203;<font style="letter-spacing:0.192pt;"> </font></font>
        </div>
        <div style="margin-top:5.6pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 5.60000000000002pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:6.5pt; text-align:center; width:541.31pt; line-height:9pt;">
          <font style="letter-spacing:0.192pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size:8pt;letter-spacing:0.16pt;">(Name, address, including zip code, and telephone number, including area code, of agent for service)</font><font style="letter-spacing:0.192pt;"> </font>
        </div>
        <div style="margin-top:5.6pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 5.60000000000002pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:144pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:180pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Copies to:</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:113.31pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:144pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Will H. Cai, Esq. </font>
                <br >
                <font style="letter-spacing:-0.2pt;">Nicolas H.R. Dumont, Esq. </font>
                <br >
                <font style="letter-spacing:-0.2pt;">Cooley LLP </font>
                <br >
                <font style="letter-spacing:-0.2pt;">55 Hudson Yards </font>
                <br >
                <font style="letter-spacing:-0.2pt;">New York, NY 10001 </font>
                <br >
                <font style="letter-spacing:-0.2pt;">+1 212 479-6000</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:180pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Timothy Pitrelli, Esq.</font>
                <br >
                <font style="letter-spacing:-0.2pt;">Cooley LLP</font>
                <br >
                <font style="letter-spacing:-0.2pt;">182 Cecil Street, #38-01</font>
                <br >
                <font style="letter-spacing:-0.2pt;">Frasers Tower</font>
                <br >
                <font style="letter-spacing:-0.2pt;">Singapore 069547</font>
                <br >
                <font style="letter-spacing:-0.2pt;">+65 6962 7500</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:113.31pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Derek Dostal, Esq.</font>
                <br >
                <font style="letter-spacing:-0.2pt;">Howard Zhang, Esq.</font>
                <br >
                <font style="letter-spacing:-0.2pt;">Davis Polk &amp; Wardwell LLP</font>
                <br >
                <font style="letter-spacing:-0.2pt;">450 Lexington Avenue</font>
                <br >
                <font style="letter-spacing:-0.2pt;">New York, NY 10017</font>
                <br >
                <font style="letter-spacing:-0.2pt;">+1 212 450-4000</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:3.41pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="text-indent:20pt; margin-top:7.5pt; text-align:justify; width:541.31pt; line-height:10.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.192pt;">Approximate date of commencement of proposed sale of the securities to the public: As soon as practicable after this Registration Statement becomes effective.</font><font style="font-weight:normal;letter-spacing:0.192pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:541.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">If this Form is filed to register additional securities for an offering pursuant to Rule&#160;462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:541.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">If this Form is a post-effective amendment pursuant to Rule&#160;462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration for the share offering. &#9744; </font>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:521.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">If applicable, place an X in the box to designate the appropriate rule provision relied upon in conducting this transaction: </font>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:521.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">Exchange Act Rule&#160;13e-4(i) (Cross-Border Issuer Tender Offer) &#9744; </font>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:521.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">Exchange Act Rule&#160;14d-1(d) (Cross-Border Third-Party Tender Offer) &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:541.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933. </font>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:521.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">Emerging growth company &#9746; </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:541.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#8224; provided pursuant to Section&#160;7(a)(2)(B) of the Securities Act. &#9744; </font>
        </div>
        <div style="margin-top:4pt; text-align:justify; width:541.31pt; line-height:10.5pt;">
          <font style="letter-spacing:0.192pt;">&#8224;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The term &#8220;new or revised financial accounting standard&#8221; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification (&#8220;ASC&#8221;) after April&#160;5, 2012. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:541.31pt; line-height:10.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.192pt;">The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section&#160;8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section&#160;8(a), may determine.</font>
        </div>
        <div style="margin-top:5.1pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 5.10000000000002pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:2pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 2pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
      </div>
      <hr >
    </div>
    <div style="position:relative;overflow-x:hidden;min-height:775.71pt;page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="position:absolute;top:738.83pt;left:48.66pt;height:30.02pt;width:706pt;transform-origin:0pt -0pt;transform:rotate(-90deg) translate(0%, 0%);">
        <div style="text-align:justify; width:706pt; line-height:9.5pt;font-weight:bold;color:#FC0014;font-family:Helvetica, Arial, sans-serif;font-size:8pt;">
          <font style="letter-spacing:-0.08pt;">The information in this proxy statement/prospectus is not complete and may be changed. We may not issue these securities until the registration statement filed with the Securities and Exchange Commission is effective. This proxy statement/prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</font><font style="color:#000000;letter-spacing:-0.08pt;"> </font>
          <br >
        </div>
      </div>
      <div style="margin-top:27.85pt;min-height:706pt;margin-left:87.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:10pt;font-weight:bold;color:#FC0014;">
          <font style="letter-spacing:-0.18pt;">PRELIMINARY&#8201;&#8212;&#8201;SUBJECT TO COMPLETION, DATED&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022</font><font style="font-weight:normal;color:#000000;letter-spacing:0.18pt;"> </font>
        </div>
        <div style="margin-top:4pt; text-align:center; width:456pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">PROXY STATEMENT FOR EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
        </div>
        <div style="position:relative;margin-top:4.9pt; text-align:center; width:456pt;">
          <img src="lg_bluesafari-4clr.jpg" alt="[MISSING IMAGE: lg_bluesafari-4clr.jpg]" height="129" width="130" >
        </div>
        <div style="margin-top:7.8pt; text-align:center; width:456pt; line-height:16.5pt;font-weight:bold;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">Blue Safari Group Acquisition Corp. </font>
          <br >
          <font style="letter-spacing:-0.32pt;">and</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="margin-top:4pt; text-align:center; width:456pt; line-height:9.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">PROSPECTUS FOR UP TO&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;AMERICAN DEPOSITARY SHARES</font>
          <br >
          <font style="letter-spacing:-0.18pt;">REPRESENTING&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;CLASS A ORDINARY SHARES OF</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
        </div>
        <div style="position:relative;margin-top:4.9pt; text-align:center; width:456pt;">
          <img src="lg_bitdeer-4clr.jpg" alt="[MISSING IMAGE: lg_bitdeer-4clr.jpg]" height="44" width="239" >
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          <font style="letter-spacing:-0.32pt;">Bitdeer Technologies Group</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
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          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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          <font style="letter-spacing:0.18pt;">The board of directors of Blue Safari Group Acquisition Corp. (the &#8220;BSGA Board&#8221;), a BVI business company, (&#8220;BSGA,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221;), has unanimously approved the amended and restated agreement and plan of merger dated December 15, 2021, (as it may be amended and/or restated from time to time, the &#8220;Merger Agreement&#8221;), by and among Bitdeer Technologies Group (&#8220;BTG&#8221;), Bitdeer Technologies Holding Company (&#8220;Bitdeer&#8221;), BSGA, Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;BSGA Merger Sub 1&#8221;), Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;BSGA Merger Sub 2&#8221;), Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of BTG (&#8220;Bitdeer Merger Sub&#8221;) and Blue Safari Mini Corp. (&#8220;BSGA Sub&#8221;). The Merger Agreement contemplates three mergers in connection with the Business Combination. At the effective time of the first merger, BSGA Merger Sub 1 will be merged with and into BSGA, and the separate corporate existence of BSGA Merger Sub 1 will cease and BSGA will continue as the surviving company under the laws of the British Virgin Islands (the &#8220;First SPAC Merger&#8221;). Immediately following the First SPAC Merger and at the effective time of the second merger, BSGA will be merged with and into BSGA Merger Sub 2 and BSGA Merger Sub 2 will continue as the surviving company under the laws of the British Virgin Islands as a wholly-owned subsidiary of BTG (the &#8220;Second SPAC Merger&#8221;). The First SPAC Merger and the Second SPAC Merger are together referred to as the Initial Mergers. Following the Initial Mergers, at the effective time of the third merger, Bitdeer Merger Sub will be merged with and into Bitdeer (the &#8220;Acquisition Merger&#8221;). Following the Acquisition Merger, the separate corporate existence of Bitdeer Merger Sub will cease and Bitdeer will continue as the surviving company in the Acquisition Merger under the laws of the Cayman Islands and become a wholly-owned subsidiary of BTG. The Merger Agreement is attached to this proxy statement/</font>&#8203;<font style="letter-spacing:0.18pt;">prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.18pt;">Annex A</font><font style="letter-spacing:0.18pt;">. At the consummation of the Business Combination, BTG&#8217;s amended and restated memorandum and articles of association (the &#8220;Amended BTG Articles&#8221;) shall be substantially in the form attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.18pt;">Annex B</font><font style="letter-spacing:0.18pt;">. </font></div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">BSGA Shareholders are being asked to consider a vote upon the Business Combination and certain proposals related thereto as described in this proxy statement/prospectus. As a result of, and upon consummation of, the Business Combination, each of Merger Sub 2 and Bitdeer shall become a wholly-owned subsidiary of BTG, and BTG shall become a new public company owned by the prior BSGA Shareholders, the prior holders of Bitdeer Shares, Bitdeer RSU, and other investors of BTG (if any). BTG plans to apply for listing, to be effective at the time of the Closing of the Business Combination, of the BTG ADSs representing BTG Class&#160;A Ordinary Shares on the Nasdaq Stock Market (&#8220;Nasdaq&#8221;) and seek to obtain clearance by Depository Trust Company (&#8220;DTC&#8221;) as promptly as practicable following the issuance hereof, subject to official notice of issuance, prior to the Closing Date under the symbols &#8220;BTDR.&#8221; </font>
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          <font style="letter-spacing:0.18pt;">Pursuant to the Merger Agreement, upon the consummation of the Business Combination, (i) each ordinary share of BSGA, (&#8220;BSGA Ordinary Share&#8221;) issued and outstanding immediately prior to the effective time of the First SPAC Merger shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, one class A ordinary share of BTG (&#8220;BTG Class A Ordinary Share&#8221;), which will trade in the United States in the form of American depositary shares (&#8220;ADSs&#8221;), (ii) each ordinary share of Bitdeer (&#8220;Bitdeer Ordinary Share&#8221;) and preferred share of Bitdeer (&#8220;Bitdeer Preference Share,&#8221; together with Bitdeer Ordinary Share, &#8220;Bitdeer Shares&#8221;) issued and outstanding immediately prior to the effective time of the Acquisition Merger (&#8220;Acquisition Merger Effective Time&#8221;) (other than any Bitdeer Shares held by the founder of Mr. Jihan Wu or the entity controlled by him, namely Victory Courage Limited (&#8220;Key Executive Shares&#8221;) and Bitdeer Shares owned by holders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Acquisition Merger pursuant to the Cayman Companies Act) shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, such number of BTG Class A Ordinary Shares that is equal to the Exchange Ratio (as defined below), which will trade in United States in the form of ADSs, (iii) each Key Executive Share issued and outstanding immediately prior to the Acquisition Merger Effective Time shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, such number of Class V ordinary share </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="text-align:justify; width:456pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">of BTG (&#8220;BTG Class V Ordinary Share&#8221;) that is equal to the quotient obtained by dividing (A) 400 million by (B) the Bitdeer Total Shares (as defined below) (the &#8220;Exchange Ratio&#8221;), (iv) each restricted share unit to acquire Bitdeer Shares issued pursuant to an award granted under Bitdeer&#8217;s 2021 Share Incentive Plan (&#8220;Bitdeer RSU&#8221;) outstanding immediately prior to the Acquisition Merger Effective Time, whether vested or unvested, shall be assumed by BTG and converted into an award of restricted share units (each an &#8220;Assumed RSU&#8221;) representing the rights to receive, on the same terms and conditions (including applicable vesting, settlement and expiration provisions) as applied to each such Bitdeer RSU immediately prior to the Acquisition Merger Effective Time, BTG Class A Ordinary Shares, except that number of BTG Class A Ordinary Shares subject to such Assumed RSU shall equal to the product of (A) the number of Bitdeer Ordinary Shares that were subject to such Bitdeer RSU immediately prior to the Acquisition Merger Effective Time, multiplied by (B) the Exchange Ratio, rounded down to the nearest whole share. As used herein, Bitdeer Total Share equals to the sum of (x) the number of issued and outstanding Bitdeer Shares (on an as-converted basis), (y) the aggregate number of Bitdeer Shares (on an as-converted basis) issuable upon the settlement of all vested Bitdeer RSUs (as defined below) as of immediately prior to the Acquistiion Merger Effective Time (including after giving effect to the consummation of the Acquisition Merger or any acceleration of any unvested Bitdeer RSUs in connection with the consummation of the Acquisition Merger), and (z) the aggregate number of Bitdeer Shares (on an as-converted basis) issuable upon conversion of the Bitdeer Convertible Note. </font>
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        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">The newly issued BTG Class V Ordinary Shares will have the same economic terms as the newly issued BTG Class A Ordinary Shares but differ with respect to voting and conversion rights. Each holder of BTG Class A Ordinary Shares will be entitled to one vote per share and each holder of BTG Class V Ordinary Shares is entitled to ten (10) votes per share on all matters submitted to them for a vote of all BTG Ordinary Shares voting together as a single class (which is the case for most matters). Upon the consummation of the Business Combination, Mr. Jihan Wu will hold all BTG Class V Ordinary Shares and will control the voting power of all outstanding BTG Class V Ordinary Shares. As a result of Mr. Jihan Wu&#8217;s control over the voting power of all outstanding BTG Class V Ordinary Shares, Mr. Jihan Wu will, immediately following the Business Combination, be expected to own over 88.6% of the total voting power of all issued and outstanding BTG Ordinary Shares, and will have the ability to (i)&#160;effectively control matters requiring the affirmative vote of the holders of at least the majority of the issued and outstanding BTG Ordinary Shares voted at a meeting of shareholders, including the election of all of the members of BTG&#8217;s board of directors, and (ii) decisively influence, if not effectively control, matters requiring a special resolution of the shareholders (which under the laws of the Cayman Islands requires the affirmative vote of at least two-thirds of the issued and outstanding BTG Ordinary Shares voted at a meeting) such as the amendment of BTG&#8217;s organizational documents. For further information, see &#8220;Risk Factors&#8201;&#8212;&#8201;Risks Related to BTG&#8201;&#8212;&#8201;BTG&#8217;s dual-class voting structure may limit your ability to influence corporate matters and could discourage others from pursuing any change of control transactions that holders of BTG&#8217;s Class A Ordinary Shares may view as beneficial.&#8221; </font>
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          <font style="letter-spacing:0.18pt;">The multiple merger structure was chosen by the parties to the Merger Agreement for business, legal and accounting reasons. In particular, given BTG&#8217;s eligibility as a foreign private issuer, its reporting obligations under U.S. securities laws will be less burdensome compared to domestic registrants and BTG will be able to prepare and file its financial statements in accordance with the International Financial Reporting Standards. Such benefit will not be available immediately upon Closing if the Business Combination were to be conducted through a reverse triangular merger in which Bitdeer would be acquired directly by BSGA, which would continue to report as a domestic registrant upon Closing until further assessment of factors such as its shareholder base and location of assets at a future date pursuant to U.S. securities laws. Operationally, following the Business Combination conducted via the proposed structure, BTG will be a holding company that will operate Bitdeer&#8217;s current business through its subsidiaries, which is consistent with the expectations of Bitdeer and BSGA&#8217;s management in relation to post-Business Combination corporate and operational structure. </font>
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          <font style="letter-spacing:0.18pt;">In addition, the Initial Mergers are structured as two separate mergers primarily for U.S. tax reasons. The exchange of BSGA Securities (as defined in &#8220;Material U.S. Federal Income Tax Considerations&#8221;) for BTG Class&#160;A Ordinary Shares pursuant to the Business Combination is intended to qualify as a tax-free transaction for U.S. federal income tax purposes. See &#8220;Material U.S. Federal Income Tax Considerations&#8201;&#8212;&#8201;Consequences of the Business Combination&#8201;&#8212;&#8201;Qualification of the Initial Mergers as a Reorganization.&#8221; The Initial Mergers that effect the exchange of BSGA Securities for BTG Class&#160;A Ordinary Shares are structured as a two-step merger in the form of the First SPAC Merger and the Second SPAC Merger to reduce the risk that holders will be subject to U.S. federal income tax on the exchange of their BSGA Securities for BTG Class&#160;A Ordinary Shares. </font>
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          <font style="letter-spacing:0.18pt;">Proposals to approve the Merger Agreement and the other matters discussed in this proxy statement/prospectus shall be presented at the Extraordinary General Meeting scheduled to be held on&#160;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, 2022. </font>
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        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">This proxy statement/prospectus provides you with detailed information about the Business Combination and other matters to be considered at the Extraordinary General Meeting of BSGA Shareholders. We encourage you to carefully read this entire document. </font><font style="font-weight:bold;letter-spacing:-0.18pt;">You should, in particular, carefully consider the risk factors described in &#8220;Risk Factors&#8221; beginning on page <a href="#tRIFA">39</a> of this proxy statement/prospectus.</font><font style="letter-spacing:0.18pt;"> </font>
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        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">This proxy statement/prospectus is dated&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022 and is first being mailed to BSGA Shareholders on or about&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022. </font>
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          <font style="letter-spacing:-0.18pt;">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PROXY</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font><font style="letter-spacing:-0.18pt;">STATEMENT/PROSPECTUS OR ANY OF THE SECURITIES TO BE ISSUED IN THE BUSINESS COMBINATION, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PROXY STATEMENT/PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">A British Virgin Islands Business Company</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">Cheung Kong Center</font>
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          <font style="letter-spacing:-0.2pt;">58 Floor, Unit 5801</font>
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          <font style="letter-spacing:-0.2pt;">2 Queens Road Central</font>
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          <font style="letter-spacing:-0.2pt;">Central, Hong Kong </font>
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          <font style="letter-spacing:-0.2pt;">NOTICE OF EXTRAORDINARY GENERAL MEETING</font>
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          <font style="letter-spacing:-0.2pt;">TO BE HELD ON&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">TO THE SHAREHOLDERS OF BLUE SAFARI GROUP ACQUISITION CORP.: </font>
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          <font style="letter-spacing:0.2pt;">You are cordially invited to attend the extraordinary general meeting (the &#8220;Extraordinary General Meeting&#8221;) of Blue Safari Group Acquisition Corp., an exempted company limited by shares incorporated under the laws of the British Virgin Islands (&#8220;BSGA&#8221;), at &#8199;&#8199;&#8199;&#8199; AM, Eastern time, on &#8199;&#8199;&#8199;&#8199;, 2022 at offices of Davis Polk &amp; Wardwell LLP, 450 Lexington Avenue, New York, New York and virtually at [&#8226;], and on such other date and at such other place to which the meeting may be adjourned. While as a matter of British Virgin Islands law we are required to have a physical location for the meeting, we are pleased to utilize virtual shareholder meeting technology to (i)&#160;provide ready access and cost savings for BSGA Shareholders and BSGA, and (ii)&#160;to promote social distancing pursuant to guidance provided by the CDC and the SEC due to COVID-19. The virtual meeting format allows attendance from any location in the world. </font>
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          <font style="letter-spacing:0.2pt;">The Extraordinary General Meeting shall be held for the following purpose: </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">1.&nbsp;&nbsp;&nbsp;to consider and vote upon a proposal, which is referred to herein as the &#8220;Business Combination Proposal,&#8221; to approve the business combination and other transactions (and related transaction documents) contemplated by the amended and restated agreement and plan of merger dated December 15, 2021 (as it may be amended and / or restated from time to time, the &#8220;Merger Agreement&#8221;), by and among Bitdeer Technologies Group, an exempted company with limited liability incorporated under the laws of the Cayman Islands (&#8220;BTG&#8221;), Bitdeer Technologies Holding Company, an exempted company with limited liability incorporated under the laws of the Cayman Islands (&#8220;Bitdeer&#8221;), BSGA, Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;BSGA Merger Sub 1&#8221;), Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;BSGA Merger Sub 2&#8221;), Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of BTG (&#8220;Bitdeer Merger Sub&#8221;) and Blue Safari Mini Corp. (&#8220;BSGA Sub&#8221;), by and among Bitdeer, BSGA and BSGA Sub (as it may be amended and/or restated from time to time, the &#8220;Merger Agreement&#8221;). The Merger Agreement is attached to this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex A</font><font style="letter-spacing:0.2pt;">; </font></div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">2.&nbsp;&nbsp;&nbsp;to consider and vote upon a proposal to approve, by special resolution, assuming the Business Combination Proposal is approved and adopted, the Merger Agreement, the Initial Mergers and certain matters relating to the Initial Mergers (the &#8220;Initial Mergers Proposal&#8221;); </font>
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          <font style="letter-spacing:0.2pt;">3.&nbsp;&nbsp;&nbsp;to consider and vote upon the issuance of securities in connection with the Business Combination in order to comply with Nasdaq Listing Rules 5635(a) and (b) (the &#8220;Nasdaq proposal&#8221;). Under Nasdaq Listing Rule&#160;5635(a), shareholder approval is required prior to the issuance of securities in connection with the acquisition of another company if such securities are not issued in a public offering and (A)&#160;have, or will have upon issuance, voting power equal to or in excess of 20% of the voting power outstanding before the issuance of common stock (or securities convertible into or exercisable for common stock); or (B)&#160;the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities. Under Nasdaq Listing Rule&#160;5635(b), shareholder approval is required prior to the issuance of securities when the issuance or potential issuance will result in a change of control. </font>
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          <font style="letter-spacing:0.2pt;">4.&nbsp;&nbsp;&nbsp;to consider and vote upon a proposal (the &#8220;Governing Documents Proposal&#8221;) in connection with the replacement of the current Amended and Restated Memorandum and Articles of Association (the &#8220;Existing BSGA Articles&#8221;) with the proposed Amended and Restated Memorandum and Articles of Association of BTG (the &#8220;Amended BTG Articles&#8221;). Each of the Business Combination Proposal, the Initial Mergers </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">Proposal, the Nasdaq Proposal the Governing Documents Proposal and the Governing Documents Proposals A to D are cross-conditioned on the approval of each other. If any one of these proposals is not approved by BSGA Shareholders, the Business Combination shall not be consummated; </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">5.&nbsp;&nbsp;&nbsp;to consider and vote upon proposals (the &#8220;Governing Documents Proposals A to D&#8221;) in connection with the approval of certain key differences between the Existing BSGA Articles and the Amended BTG Articles. Each of the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal and the Governing Documents Proposals A to D are cross-conditioned on the approval of each other. If any one of these proposals is not approved by BSGA Shareholders, the Business Combination shall not be consummated; </font>
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          <font style="letter-spacing:0.2pt;">6.&nbsp;&nbsp;&nbsp;to consider and vote upon the BTG incentive plan proposal (the &#8220;BTG Incentive Plan&#160;Proposal&#8221;), the approval of which the BSGA Board believes is important attracting, retaining and rewarding high caliber employees who are essential to BTG&#8217;s success and in providing incentive to these individuals to promote the success of BTG; and </font>
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          <font style="letter-spacing:0.2pt;">7.&nbsp;&nbsp;&nbsp;to consider and approve, if presented, a proposal to adjourn the Extraordinary General Meeting to a later date or dates (the &#8220;Adjournment Proposal&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">As further described in the accompanying proxy statement/prospectus, subject to the terms and conditions of the Merger Agreement, the following transactions will occur: </font>
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          <font style="letter-spacing:0.2pt;">1.&nbsp;&nbsp;&nbsp;(i) BSGA Merger Sub 1 shall merge with and into BSGA with BSGA being the surviving entity (the &#8220;First SPAC Merger&#8221;), (ii) following the First SPAC Merger, BSGA shall merge with and into BSGA Merger Sub 2, with BSGA Merger Sub 2 being the surviving entity (the &#8220;Second SPAC Merger&#8221;, and together with the First SPAC Merger, the &#8220;Initial Mergers&#8221;), and (iii) following the Initial Mergers, Bitdeer Merger Sub shall merge with and into Bitdeer (the &#8220;Acquisition Merger&#8221;, and together with the Initial Mergers, the &#8220;Mergers&#8221;), with Bitdeer being the surviving entity and becoming a wholly-owned subsidiary of BTG. The &#8220;Mergers&#8221; and other transactions contemplated by the Merger Agreement are collectively referred to as the &#8220;Business Combination&#8221;; and </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2.&nbsp;&nbsp;&nbsp; each ordinary share of BSGA, (&#8220;BSGA Ordinary Share&#8221;) issued and outstanding immediately prior to the effective time of the First SPAC Merger shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, one class A ordinary share of BTG (&#8220;BTG Class A Ordinary Share&#8221;), which will trade in the United States in the form of American depositary shares (&#8220;ADSs&#8221;). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under the Merger Agreement, the approval of the Business Combination Proposal and each of the other proposals (except the Adjournment Proposal) by the requisite vote of BSGA Shareholders is a condition to the consummation of the Business Combination. If either of these proposals is not approved by BSGA Shareholders, the Business Combination shall not be consummated. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Adjournment Proposal, if adopted, shall allow the Chairman of the Extraordinary General Meeting to adjourn the Extraordinary General Meeting to a later date or dates, if necessary. In no event shall BSGA solicit proxies to adjourn the Extraordinary General Meeting or consummate the Business Combination and related transactions beyond the date by which it may properly do so under BSGA&#8217;s amended and restated memorandum and articles of association and the BVI Business Companies Act, 2004 (as amended) (the &#8220;BVI Companies Act&#8221;). The purpose of the Adjournment Proposal is to provide more time to meet the requirements that are necessary to consummate the Business Combination and related transactions. The Adjournment Proposal is not conditioned upon the approval of any other proposal set forth in the accompanying proxy statement/prospectus. </font>
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          <font style="letter-spacing:0.2pt;">Each of these proposals is more fully described in the accompanying proxy statement/prospectus, which each BSGA shareholder is encouraged to read carefully and in its entirety. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In connection with the Business Combination, certain related agreements have been entered into prior to the closing of the Business Combination, including the Voting and Support Agreement. See &#8220;the Business Combination Proposal&#8201;&#8212;&#8201;Voting and Support Agreement&#8221; in the accompanying proxy statement/prospectus for more information. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the Existing BSGA Articles, a holder of BSGA&#8217;s public shares (a &#8220;BSGA Public Shareholder&#8221;) may request that BSGA redeem all or a portion of such public shares for cash in connection with the completion of the Business Combination. Holders of&#160;units must elect to separate the&#160;units into the underlying public shares and rights prior to exercising redemption rights with respect to the public shares. If holders hold their&#160;BSGA Units in an account at a brokerage firm or bank, holders must notify their broker or bank that they elect to separate the&#160;units into the underlying public shares and rights, or if a holder holds&#160;units registered in its own name, the holder must contact Continental Stock Transfer &amp; Trust Company (&#8220;Continental&#8221;), BSGA&#8217;s transfer agent, directly and instruct it to do so. The Redemption Rights include the requirement that a holder must identify itself in writing as a beneficial holder and provide its legal name, phone number and address to Continental in order to validly redeem its shares. </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Public BSGA Shareholders may elect to redeem their public shares regardless of whether or not they vote on any of the Proposals and whether they vote &#8220;For&#8221; or &#8220;Against&#8221; any of the Proposals.</font><font style="letter-spacing:0.2pt;"> If the Business Combination is not consummated, the public shares will be returned to the respective holder, broker or bank. If the Business Combination is consummated, and if a public BSGA Shareholder properly exercises its right to redeem all or a portion of the public shares that it holds and timely delivers its share certificates (if any) and other redemption forms (as applicable) to Continental, BSGA will redeem such public shares for a per-share price, payable in cash, equal to the pro&#160;rata portion of the amount on deposit in the trust account as of two business days prior to the consummation of the Business Combination, including interest earned on the funds held in the trust account and not previously released to BSGA for tax purposes. For illustrative purposes, as of March 31, 2022, this would have amounted to approximately US$10.10 per issued and outstanding share. If a BSGA Public Shareholder exercises its redemption rights in full, then it will be electing to exchange its public shares for cash and will no longer own public shares (but will continue to own rights). See &#8220;Extraordinary General Meeting of BSGA Shareholders&#8201;&#8212;&#8201;Redemption Rights&#8221; in the accompanying proxy statement/prospectus for a detailed description of the procedures to be followed if you wish to redeem your public shares for cash. </font>
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          <font style="letter-spacing:0.2pt;">Notwithstanding the foregoing, a public BSGA Shareholder, together with any affiliate of such public BSGA Shareholder or any other person with whom such public BSGA Shareholder is acting in concert or as a &#8220;group&#8221; &#8203;(as defined in Section&#160;13(d)(3) of the Securities Exchange Act of 1934, as amended (&#8220;Exchange Act&#8221;)), will be restricted from redeeming its public shares with respect to more than an aggregate of 15% of the public shares. Accordingly, if a BSGA Public Shareholder, alone or acting in concert or as a group, seeks to redeem more than 15% of the public shares, then any such shares in excess of that 15% limit would not be redeemed for cash. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Sponsor and each of the BSGA officers and directors have agreed to, among other things, vote all of their BSGA Shares in favor of the proposals being presented at the Extraordinary General Meeting and waive their redemption rights with respect to their BSGA Shares in connection with the consummation of the Business Combination. As of the date of this proxy statement/prospectus, on an as-converted basis, the Sponsor and certain BSGA directors own, collectively, approximately 19.1% of the issued and outstanding BSGA Shares. The Merger Agreement is subject to the satisfaction or waiver of certain other closing conditions as described in the accompanying proxy statement/prospectus. There can be no assurance that the parties to the Merger Agreement would waive any such closing condition. In addition, in no event will BSGA redeem public shares in an amount that would cause BSGA&#8217;s net tangible assets (as determined in accordance with Rule&#160;3a51-1(g)(1) of the Exchange Act) to be less than US$5,000,001 after giving effect to the transactions contemplated by the Merger Agreement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA is providing the accompanying proxy statement/prospectus and accompanying proxy card to BSGA Shareholders in connection with the solicitation of proxies to be voted at the Extraordinary General Meeting and at any adjournments of the Extraordinary General Meeting. Information about the Extraordinary General Meeting, the Business Combination and other related business to be considered by BSGA Shareholders at the Extraordinary General Meeting is included in the accompanying proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus. Whether or not you plan to attend the Extraordinary General Meeting, all of BSGA Shareholders should read the accompanying proxy statement/prospectus, including the Annexes and other documents referred to therein, carefully and in their entirety. You should also carefully consider the risk factors described in &#8220;Risk Factors&#8221; beginning on page 40 of the accompanying proxy statement/prospectus. </font></div>
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          <font style="letter-spacing:0.2pt;">After careful consideration, BSGA&#8217;s board of directors has unanimously approved the Business Combination and determined that the Business Combination Proposal, the Initial Mergers Proposal, the </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Nasdaq&#160;Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan Proposal, and the Adjournment Proposal are advisable and fair to and in the best interest of BSGA and unanimously recommends that you vote or give instruction to vote &#8220;FOR&#8221; the Business Combination Proposal, &#8220;FOR&#8221; the Initial Mergers Proposal, &#8220;FOR&#8221; the Nasdaq&#160;Proposal, &#8220;FOR&#8221; the Governing Documents Proposal, &#8220;FOR&#8221; the Governing Documents Proposals A to D, &#8220;FOR&#8221; the BTG Incentive Plan Proposal, and &#8220;FOR&#8221; the Adjournment Proposal, if presented. When you consider the board of directors&#8217; recommendation of these proposals, you should keep in mind that BSGA&#8217;s directors and BSGA&#8217;s officers have interests in the Business Combination that may conflict with your interests as a shareholder. See &#8220;The Business Combination Proposal&#8201;&#8212; Interests of BSGA Directors and Officers in the Business Combination&#8221; in the accompanying proxy statement/prospectus for a further discussion of these considerations. </font>
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          <font style="letter-spacing:0.2pt;">The approval of the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq&#160;Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan Proposal, and the Adjournment Proposal, will each be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; these proposals. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting.</font>
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          <font style="letter-spacing:0.2pt;">Your vote is important regardless of the number of shares you own. Whether or not you plan to attend the Extraordinary General Meeting, please sign, date, vote and return the enclosed proxy card as soon as possible in the envelope provided to make sure that your shares are represented at the Extraordinary General Meeting. If your shares are held in &#8220;street name&#8221; or are in a margin or similar account, you should contact your broker or bank to ensure that votes related to the shares you beneficially own are properly counted. The Business Combination will be consummated only if the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal. Governing Documents Proposals A to D and the BTG Incentive Plan Proposal are approved at the Extraordinary General Meeting. The Adjournment Proposal is not conditioned upon the approval of any other proposal set forth in this proxy statement/prospectus. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you sign, date and return your proxy card without indicating how you wish to vote, your proxy will be voted FOR each of the proposals presented at the Extraordinary General Meeting. If you fail to return your proxy card or fail to instruct your bank, broker or other nominee how to vote, and do not attend the Extraordinary General Meeting in person, the effect will be, among other things, that your shares will not be counted for purposes of determining whether a quorum is present at the Extraordinary General Meeting. An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. If you are a shareholder of record and you attend the Extraordinary General Meeting and wish to vote in person, you may withdraw your proxy and vote in person. </font>
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          <font style="letter-spacing:0.2pt;">TO EXERCISE YOUR REDEMPTION RIGHTS, YOU MUST DEMAND IN WRITING THAT YOUR BSGA SHARES BE REDEEMED FOR A PRO RATA PORTION OF THE FUNDS HELD IN THE TRUST ACCOUNT AND TENDER YOUR SHARES TO OUR TRANSFER AGENT AT LEAST TWO BUSINESS DAYS BEFORE THE SCHEDULED DATE OF THE EXTRAORDINARY GENERAL MEETING. IN ORDER TO EXERCISE YOUR REDEMPTION RIGHT, YOU NEED TO IDENTIFY YOURSELF AS A BENEFICIAL HOLDER AND PROVIDE YOUR LEGAL NAME, PHONE NUMBER AND ADDRESS IN YOUR WRITTEN DEMAND. YOU MAY TENDER YOUR SHARES BY EITHER DELIVERING YOUR SHARE CERTIFICATE TO THE TRANSFER AGENT OR BY DELIVERING YOUR SHARES ELECTRONICALLY USING THE DEPOSITORY TRUST COMPANY&#8217;S DWAC (DEPOSIT WITHDRAWAL AT CUSTODIAN) SYSTEM. IF THE BUSINESS COMBINATION IS NOT COMPLETED, THEN THESE SHARES SHALL BE RETURNED TO YOU OR YOUR ACCOUNT. IF YOU HOLD THE SHARES IN STREET NAME, YOU NEED TO INSTRUCT THE ACCOUNT EXECUTIVE AT YOUR BROKER, BANK OR OTHER NOMINEE TO WITHDRAW THE SHARES FROM YOUR ACCOUNT IN ORDER TO EXERCISE YOUR REDEMPTION RIGHTS. SEE &#8220;EXTRAORDINARY GENERAL MEETING OF BSGA SHAREHOLDERS&#8201;&#8212;&#8201;REDEMPTION RIGHTS&#8221; FOR MORE SPECIFIC INSTRUCTIONS. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On behalf of the BSGA Board, I would like to thank you for your support and look forward to the successful completion of the Business Combination. </font>
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        <div style="margin-left:300pt; margin-top:8pt; width:156pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Sincerely, </font>
        </div>
        <div style="margin-left:300pt; margin-top:8pt; width:156pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Alan Yamashita </font>
          <br >
          <font style="letter-spacing:0.2pt;">Chairman of the Board of Directors </font>
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          <font style="letter-spacing:0.2pt;">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT/PROSPECTUS, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THE ACCOMPANYING PROXY STATEMENT/PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying proxy statement/prospectus is dated &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, 2022, and is first being mailed to shareholders on or about&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, 2022.</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">Table of Contents</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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                <font style="letter-spacing:-0.16pt;">Page </font>
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                <a href="#tATPS"><font style="letter-spacing:0.2pt;">ABOUT THIS PROXY STATEMENT/PROSPECTUS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tATPS">1</a></font> <a href="#tATPS"></a></td>
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                <a href="#tIAMD"><font style="letter-spacing:0.2pt;">INDUSTRY AND MARKET DATA </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tIAMD">2</a></font> <a href="#tIAMD"></a></td>
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              <div style="white-space:nowrap;">
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          <br >
        </div>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC2">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <table style="width:456pt;height:128.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:427.33pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Page </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tPROS"><font style="letter-spacing:0.2pt;">PRICE RANGE OF SECURITIES AND DIVIDENDS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tPROS">252</a></font> <a href="#tPROS"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tAMSP"><font style="letter-spacing:0.2pt;">ANNUAL MEETING SHAREHOLDER PROPOSALS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAMSP">253</a></font> <a href="#tAMSP"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tOSC"><font style="letter-spacing:0.2pt;">OTHER SHAREHOLDER COMMUNICATIONS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tOSC">254</a></font> <a href="#tOSC"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tLEMA"><font style="letter-spacing:0.2pt;">LEGAL MATTERS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tLEMA">255</a></font> <a href="#tLEMA"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tEXP"><font style="letter-spacing:0.2pt;">EXPERTS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tEXP">256</a></font> <a href="#tEXP"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tDODT"><font style="letter-spacing:0.2pt;">DELIVERY OF DOCUMENTS TO SHAREHOLDERS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tDODT">257</a></font> <a href="#tDODT"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tWYCF"><font style="letter-spacing:0.2pt;">WHERE YOU CAN FIND MORE INFORMATION </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tWYCF">258</a></font> <a href="#tWYCF"></a></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:427.33pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tIOFS"><font style="letter-spacing:0.2pt;">INDEX OF FINANCIAL STATEMENTS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tIOFS">F-1</a></font>
            </td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:20pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ANNEXES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Annex A: Merger Agreement </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Annex B: Form of Amended BTG Articles </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Annex C: Form of BTG Incentive Plan </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Annex D: Valuation Reports of Royson Valuation Advisory Limited</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ii</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tATPS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:372pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ABOUT THIS PROXY STATEMENT/PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This document, which forms part of a registration statement on Form F-4 filed with the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) by BTG, constitutes a prospectus of BTG under Section&#160;5 of the U.S. Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) with respect to the BTG Class&#160;A Ordinary Shares to be issued pursuant to the Merger Agreement, if the Business Combination described herein is consummated. This document also constitutes a notice of meeting and a proxy statement under Section&#160;14(a) of the Securities and Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) with respect to the Extraordinary General Meeting of BSGA Shareholders at which BSGA Shareholders shall be asked to consider and vote upon proposals to approve the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal and to adjourn the meeting, if necessary, to permit further solicitation of proxies because there are not sufficient votes to adopt each of the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal, or the Adjournment Proposal. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">References to &#8220;U.S. Dollars&#8221; and &#8220;US$&#8221; in this proxy statement/prospectus are to United States dollars, the legal currency of the United States. Discrepancies in any table between totals and sums of the amounts listed are due to rounding. Certain amounts and&#160;percentages have been rounded; consequently, certain figures may add up to be more or less than the total amount and certain&#160;percentages may add up to be more or less than 100% due to rounding. In particular and without limitation, amounts expressed in millions contained in this prospectus have been rounded to a single decimal place for the convenience of readers. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tIAMD">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:340pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INDUSTRY AND MARKET DATA</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The industry and market position information that appears in this proxy statement/prospectus is from independent market research carried out by Frost &amp; Sullivan, which was commissioned by Bitdeer. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to these estimates. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Such information is supplemented where necessary with Bitdeer&#8217;s own internal estimates and information obtained taking into account publicly available information about other industry participants and Bitdeer&#8217;s management&#8217;s judgment where information is not publicly available. This information appears in &#8220;Summary of the Proxy Statement/Prospectus,&#8221; &#8220;Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations,&#8221; &#8220;Information Related to Bitdeer&#8221; and other sections of this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus. </font></div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Industry reports, publications, research, studies and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. In some cases, we do not expressly refer to the sources from which this data is derived. While we have compiled, extracted, and reproduced industry data from these sources, we have not independently verified the data. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and uncertainties as the other forward-looking statements in this proxy statement/prospectus. These forecasts and forward-looking information are subject to uncertainty and risk due to a variety of factors, including those described under &#8220;Risk Factors,&#8221; &#8220;Forward-Looking Statements,&#8221; and &#8220;Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.&#8221; These and other factors could cause results to differ materially from those expressed in any forecasts or estimates. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tADD1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:360pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ADDITIONAL INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This proxy statement/prospectus incorporates important business and financial information about BSGA from other documents that are not included in or delivered with this proxy statement/prospectus. This information is available for you to review on the website of the U.S. Securities and Exchange Commission at www.sec.gov. You can also obtain the documents incorporated by reference into this proxy&#160;statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus free of charge by requesting them in writing or by telephone from the appropriate company at the following address: </font></div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Technologies Group</font>
          <br >
          <font style="letter-spacing:0.2pt;">08 Kallang Avenue</font>
          <br >
          <font style="letter-spacing:0.2pt;">Aperia tower 1, #09-03/04</font>
          <br >
          <font style="letter-spacing:0.2pt;">Singapore 339509</font>
          <br >
          <font style="letter-spacing:0.2pt;">Telephone: +65 62828220 </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To obtain timely delivery, BSGA Shareholders must request the materials no later than five business days prior to the Extraordinary General Meeting, or by [&#8226;].</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You also may obtain additional proxy cards and other information related to the proxy solicitation by contacting the appropriate contact listed above. You will not be charged for any of these documents that you request.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For a more detailed description of the information incorporated by reference in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus and how you may obtain it, see the section entitled &#8220;Where You Can Find More Information.&#8221;</font></div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">3</font>
          <br >
        </div>
      </div>
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    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tFSP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-bottom:256pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FINANCIAL STATEMENTS PRESENTATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The historical financial statements of BSGA were prepared in accordance with generally accepted accounting principles in the United States (&#8220;U.S. GAAP&#8221;) and are denominated in U.S. Dollars. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s audited combined and consolidated financial statements as of December&#160;31, 2021 and 2020 and for each of the&#160;three years in the period ended December&#160;31, 2021 included in this proxy statement/prospectus have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board and are reported in U.S. Dollars. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BTG</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG was incorporated on December&#160;8, 2021, for the sole purpose of effectuating the transactions described herein. BTG has no material assets and does not operate any businesses. Accordingly, no financial statements of BTG have been included in this proxy statement/prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Business Combination is made up of the series of transactions provided for in the Merger Agreement as described elsewhere within this proxy statement/prospectus. The transactions will be accounted for as a reverse recapitalization in accordance with IFRS as issued by the IASB within the scope of IFRS 2 (&#8220;Share-based payment&#8221;) whereby Bitdeer will be considered the accounting acquirer and BSGA will be treated as the acquired company. The net assets of BSGA will be stated at historical cost, with no goodwill or other intangible assets recorded. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Immediately following the Business Combination, BTG will qualify as a foreign private issuer and will prepare its consolidated financial statements in accordance with IFRS. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Accordingly, the unaudited pro&#160;forma condensed combined financial information and the comparative per share information that will be presented in this proxy statement/prospectus will be prepared in accordance with IFRS. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">4</font>
          <br >
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    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tFUT">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FREQUENTLY USED TERMS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise stated or unless the context otherwise requires, the term &#8220;Bitdeer&#8221; refers to Bitdeer Technologies Holding Company, an exempted company with limited liability incorporated under the laws of the Cayman Islands, the term &#8220;BSGA&#8221; refers to Blue Safari Group Acquisition Corp., a British Virgin Islands business company, and &#8220;BTG&#8221; refers to Bitdeer Technologies Group, a newly incorporated exempted company with limited liability incorporated under the laws of the Cayman Islands. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, in this document: </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Acquisition Merger</font><font style="letter-spacing:0.2pt;">&#8221; means the merger where Bitdeer Merger Sub merges into and with Bitdeer, with Bitdeer being the surviving company and becoming a wholly-owned subsidiary of BTG; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Acquisition Entities</font><font style="letter-spacing:0.2pt;">&#8221; BTG, BSGA Merger Sub 1, BSGA Merger Sub 2 and Bitdeer Merger Sub; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">ADS</font><font style="letter-spacing:0.2pt;">&#8221; means American depositary shares; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Adjournment Proposal</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA shareholder proposal by special resolution to approve the adjournment of the Extraordinary General Meeting for the purpose of soliciting additional proxies in favor of the approval of the Business Combination in the event BSGA does not receive the requisite shareholder vote to approve the Business Combination; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Amended BTG Articles</font><font style="letter-spacing:0.2pt;">&#8221; means BTG&#8217;s amended and restated memorandum and articles of association; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Convertible Note</font><font style="letter-spacing:0.2pt;">&#8221; means the US$30,000,000 8% coupon unsecured convertible notes due July&#160;2023 issued pursuant to such subscription agreement dated July&#160;23, 2021 between Bitdeer and VENTE Technology Growth Investments L.P. as the noteholder, as may be amended and/or restated from time to time; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Merger Sub</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Merger Sub 3</font><font style="letter-spacing:0.2pt;">&#8221; means Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of Cayman Islands and a direct wholly-owned subsidiary of BTG; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the ordinary shares in the share capital of Bitdeer; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Plan</font><font style="letter-spacing:0.2pt;">&#8221; means the 2021 Share Incentive Plan adopted by Bitdeer on July&#160;20, 2021, as amended from time to time; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Preference Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the preference shares in the share capital of Bitdeer; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer RSUs</font><font style="letter-spacing:0.2pt;">&#8221; means the restricted share&#160;units to acquire Bitdeer Shares issued pursuant to an award granted under the Bitdeer Plan; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer shareholder</font><font style="letter-spacing:0.2pt;">&#8221; means any shareholder of Bitdeer; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Bitdeer Ordinary Shares and the Bitdeer Preference Shares; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Total Shares</font><font style="letter-spacing:0.2pt;">&#8221; means, as of immediately prior to the Acquisition Effective Time, the sum of (i)&#160;the number of issued and outstanding Bitdeer Shares (on an as-converted basis), (ii)&#160;the aggregate number of Bitdeer Shares (on an as-converted basis) issuable upon the settlement of all vested Bitdeer RSUs as of immediately prior to the Acquisition Effective Time (including after giving effect to the consummation of the Acquisition Merger or any acceleration of any unvested Bitdeer RSUs in connection with the consummation of the Acquisition Merger) and (iii)&#160;the aggregate number of Bitdeer Shares (on an as converted basis) issuable upon conversion of the Bitdeer Convertible Note; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BNY Mellon</font><font style="letter-spacing:0.2pt;">&#8221; means The Bank of New York Mellon; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Board</font><font style="letter-spacing:0.2pt;">&#8221; means the board of directors of BSGA; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Merger Sub 1</font><font style="letter-spacing:0.2pt;">&#8221; means Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG;</font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Merger Sub 2</font><font style="letter-spacing:0.2pt;">&#8221; means Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Class A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means Class A ordinary shares of BSGA, no par value. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">5</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Dissenting Shares</font><font style="letter-spacing:0.2pt;">&#8221; means BSGA Ordinary Shares owned by BSGA shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Business Combination pursuant to the BVI Companies Act; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means ordinary shares of BSGA, no par value. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Parties</font><font style="letter-spacing:0.2pt;">&#8221;means BSGA and BSGA Sub; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Rights</font><font style="letter-spacing:0.2pt;">&#8221; means rights of BSGA, each entitling the holder thereof to receive one-tenth (1/10) of one BSGA Class A Ordinary Share upon consummation of BSGA&#8217;s initial business combination. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Shareholders</font><font style="letter-spacing:0.2pt;">&#8221; means any shareholder of BSGA; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Sub</font><font style="letter-spacing:0.2pt;">&#8221; means Blue Safari Mini Corp., an exempted company with limited liability incorporated under the laws of Cayman Islands and a direct wholly-owned subsidiary of BSGA; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSGA Units</font><font style="letter-spacing:0.2pt;">&#8221; means units of BSGA issued in the IPO and concurrent private placement, each consisting of one BSGA Class A Ordinary Share and one BSGA Right. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTG ADS</font><font style="letter-spacing:0.2pt;">&#8221; means an ADS representing BTG Class&#160;A Ordinary Share; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTG Class&#160;A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Class&#160;A ordinary shares, par value US$0.0000001, in the share capital of BTG; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTG Class&#160;V Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Class&#160;V ordinary shares, par value US$0.0000001, in the share capital of BTG; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTG Incentive Plan</font><font style="letter-spacing:0.2pt;">&#8221; means to the equity incentive plan in BTG after the consummation of the Business Combination, in substantially the form attached hereto as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex C</font><font style="letter-spacing:0.2pt;"> to this proxy statement/prospectus; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTG Incentive Plan&#160;Proposal</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA shareholder proposal by special resolution to approve, assuming the Business Combination Proposal is approved and adopted, the BTG Incentive Plan and certain matters relating to the BTG Incentive Plan; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTG Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means BTG Class&#160;A Ordinary Shares and/or BTG Class&#160;V Ordinary Shares (as appropriate); </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Business Combination</font><font style="letter-spacing:0.2pt;">&#8221; means the Mergers and other transactions contemplated by the Merger Agreement; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Business Combination Proposal</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA shareholder proposal by special resolution on the approval of the Merger Agreement and the Business Combination; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BVI Companies Act</font><font style="letter-spacing:0.2pt;">&#8221; means the BVI Business Companies Act, 2004 (As Amended); </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Cayman Companies Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Companies Act (As Revised) of the Cayman Islands; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Closing</font><font style="letter-spacing:0.2pt;">&#8221; means the closing of the Business Combination; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Closing Date</font><font style="letter-spacing:0.2pt;">&#8221; means the date of the Closing; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Code</font><font style="letter-spacing:0.2pt;">&#8221; means the Internal Revenue Code of the 1986, as amended; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Condition Precedent Proposals</font><font style="letter-spacing:0.2pt;">&#8221; mean all Proposals, except for the Adjournment Proposal; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Continental</font><font style="letter-spacing:0.2pt;">&#8221; means Continental Stock Transfer &amp; Trust Company, BSGA&#8217;s transfer agent; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">COVID-19</font><font style="letter-spacing:0.2pt;">&#8221; means the novel coronavirus; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">D&amp;O Indemnified Persons</font><font style="letter-spacing:0.2pt;">&#8221; means the current or former directors and officers of the BSGA Parties; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Depositary</font><font style="letter-spacing:0.2pt;">&#8221; means BNY Mellon, in its capacity as the depositary bank for BTG ADSs; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Deposit Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the deposit agreement entered into by and among BTG, BNY Mellon and all owners and holders of BTG ADSs; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">DTC</font><font style="letter-spacing:0.2pt;">&#8221; means the Depository Trust Company; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Exchange Act</font><font style="letter-spacing:0.2pt;">&#8221; means the U.S. Securities Exchange Act of 1934, as amended; </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">6</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Exchange Ratio</font><font style="letter-spacing:0.2pt;">&#8221; means the quotient obtained by dividing the Per Share Equity Value by US$10.00, which is&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Existing BSGA Articles</font><font style="letter-spacing:0.2pt;">&#8221; means BSGA&#8217;s amended and restated memorandum and articles of association;</font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Extraordinary General Meeting</font><font style="letter-spacing:0.2pt;">&#8221; or the &#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Meeting</font><font style="letter-spacing:0.2pt;">&#8221; means an extraordinary general meeting of shareholders of BSGA to be held at&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;AM, Eastern time, on&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;2022, at the offices of Davis Polk &amp; Wardwell LLP located at 450 Lexington Avenue, New York, NY10017 and virtually at&#8194;&#8194;&#8194;&#8194;&#8194;&#8194;&#8194;; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">FASB</font><font style="letter-spacing:0.2pt;">&#8221; means Financial Accounting Standards Board; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">First SPAC Merger</font><font style="letter-spacing:0.2pt;">&#8221; means the merger where BSGA Merger Sub 1 merges with and into BSGA, with BSGA being the surviving entity and becoming a wholly-owned subsidiary of BTG; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Founder Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA Class B ordinary shares, with no par value issued to BSGA&#8217;s sponsor, which will automatically convert to Class A ordinary shares at the time of our initial business combination, on a one-for-one basis; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Governing Documents Proposal</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA shareholder proposal by special resolution on the approval of the Amended BTG Articles and certain other corporate governing documents;</font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">IAS</font><font style="letter-spacing:0.2pt;">&#8221; means International Accounting Standard;</font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">&#8220;IASB</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;">&#8221; means International Accounting Standards Board;</font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">IFRS</font><font style="letter-spacing:0.2pt;">&#8221; means International Financial Reporting Standards as issued by the International Accounting Standards Board; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Initial Closing</font><font style="letter-spacing:0.2pt;">&#8221; means the closing of the Initial Mergers; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Initial Mergers</font><font style="letter-spacing:0.2pt;">&#8221; means the First SPAC Merger and the Second SPAC Merger;</font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Initial Mergers Proposal</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA shareholder proposal by special resolution on the approval of the Initial Mergers; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Initial Shareholders</font><font style="letter-spacing:0.2pt;">&#8221; means holders of the Founder Shares. </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Investment Company Act</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">1940 Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Investment Company Act of 1940, as amended; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">IPO</font><font style="letter-spacing:0.2pt;">&#8221; means BSGA&#8217;s initial public offering, consummated on June 10, 2021, through the sale of 5,750,000 units at US$10.00 per unit. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">IRS</font><font style="letter-spacing:0.2pt;">&#8221; means the U.S. Internal Revenue Service; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">JOBS Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Jumpstart our Business Startups Act of 2012; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Key Executive Shares</font><font style="letter-spacing:0.2pt;">&#8221; means Bitdeer Shares held by the founder of Mr. Jihan Wu or the entity controlled by him, namely Victory Courage Limited; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Merger Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the amended and restated agreement and plan of merger, dated December&#160;15, 2021 (as may be amended and/or restated from time to time), by and among BTG, BSGA, Bitdeer, BSGA Merger Sub 1, BSGA Merger Sub 2, Bitdeer Merger Sub, and BSGA Sub, which amended and restated the agreement and plan of merger dated November&#160;18, 2021; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Mergers</font><font style="letter-spacing:0.2pt;">&#8221; means collectively the Initial Mergers and the Acquisition Merger;</font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Nasdaq</font><font style="letter-spacing:0.2pt;">&#8221; means the Nasdaq Stock Market; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Nasdaq Proposal</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA shareholder proposal by special resolution on the approval of issuance of securities in connection with the Business Combination, as required by Nasdaq Listing Rules 5635(a) and (b); </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">PCAOB</font><font style="letter-spacing:0.2pt;">&#8221; means the Public Company Accounting Oversight Board; </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">PFIC</font><font style="letter-spacing:0.2pt;">&#8221; means a passive foreign investment company; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Per Share Equity Value</font><font style="letter-spacing:0.2pt;">&#8221; means the quotient obtained by dividing US$4&#160;billion by the Bitdeer Total Shares; </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">7</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:2pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Plan of Merger</font><font style="letter-spacing:0.2pt;">&#8221; means to the plan of merger in the form attached hereto as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex A</font><font style="letter-spacing:0.2pt;"> to this proxy statement/prospectus; </font>
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        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Private Unit</font><font style="letter-spacing:0.2pt;">&#8221; means the 270,000 units of BSGA each consisting of one BSGA Class A Ordinary Share and one BSGA Right sold to the Sponsor price of US$10.00 per unit;</font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Proposals</font><font style="letter-spacing:0.2pt;">&#8221; mean the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan Proposal, and the Adjournment Proposal;</font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Public Shareholders</font><font style="letter-spacing:0.2pt;">&#8221; means the holders of BSGA Class&#160;A Ordinary Shares that were sold in the BSGA IPO (whether they were purchased in the BSGA IPO or thereafter in the open market); </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Public Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the BSGA Class&#160;A Ordinary Shares with no par value sold in the BSGA IPO (whether they were purchased in the BSGA IPO as part of the BSGA Unit or thereafter in the open market); </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Public Unit</font><font style="letter-spacing:0.2pt;">&#8221; means BSGA units with offering price of US$10.00 and consisting of one BSGA Class A Ordinary Share and one BSGA Right, which were sold to the public shareholders during the IPO of BSGA;</font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Record Date</font><font style="letter-spacing:0.2pt;">&#8221; means the close of business on &#8199;&#8199;&#8199;&#8199;&#8199;, 2022; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Redemption</font><font style="letter-spacing:0.2pt;">&#8221; means the redemption of Public Shares for the Redemption Price; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Redemption Price</font><font style="letter-spacing:0.2pt;">&#8221; means an amount equal to a pro&#160;rata portion of the aggregate amount then on deposit in the Trust Account in accordance with the Existing BSGA Articles (as equitably adjusted for stock splits, stock dividends, combinations, recapitalizations and the like after the Closing). The Redemption Price will be calculated two business days prior to the completion of the Business Combination in accordance with the Existing BSGA Articles; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Redemption Rights</font><font style="letter-spacing:0.2pt;">&#8221; means the rights of the Public Shareholders to demand Redemption of their Public Shares into cash in accordance with the procedures set forth in the Cayman Constitutional Documents and this proxy statement/prospectus; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Restricted Shares</font><font style="letter-spacing:0.2pt;">&#8221; means Ordinary Shares the transfer of which is restricted due to contractual and/or regulatory limitations; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Rule&#160;144</font><font style="letter-spacing:0.2pt;">&#8221; means Rule&#160;144 under the Securities Act; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Sarbanes-Oxley Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Sarbanes-Oxley Act of 2002; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">SEC</font><font style="letter-spacing:0.2pt;">&#8221; means the U.S. Securities and Exchange Commission; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Second SPAC Merger</font><font style="letter-spacing:0.2pt;">&#8221; means, following the First SPAC Merger, the merger where BSGA merges with and into BSGA Merger Sub 2, with BSGA Merger Sub 2 being the surviving entity and continuing as a wholly-owned subsidiary of BTG; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Securities Act</font><font style="letter-spacing:0.2pt;">&#8221; means the U.S. Securities Act of 1933, as amended; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Sponsor</font><font style="letter-spacing:0.2pt;">&#8221; means BSG First Euro Investment Corp.; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Surviving Company</font><font style="letter-spacing:0.2pt;">&#8221; means Bitdeer following the Acquisition Merger; </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Trust Account</font><font style="letter-spacing:0.2pt;">&#8221; means the trust account of BSGA that holds the proceeds from the IPO and certain of the proceeds from the sale of the private placement units;</font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">U.S. Dollars</font><font style="letter-spacing:0.2pt;">&#8221; and &#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">US$</font><font style="letter-spacing:0.2pt;">&#8221; means United States dollars, the legal currency of the United States; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">U.S. GAAP</font><font style="letter-spacing:0.2pt;">&#8221; means generally accepted accounting principles in the United States; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">VAT</font><font style="letter-spacing:0.2pt;">&#8221; means value added tax; and </font>
        </div>
        <div style="text-indent:20pt; margin-top:7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Voting and Support Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the voting and support agreement dated as of December&#160;15, 2021, by and among BSGA, Bitdeer and certain shareholders of Bitdeer. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">8</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tFRE1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:24pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FREQUENTLY USED TECHNICAL TERMS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise stated or unless the context otherwise requires, in this document: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BCH</font><font style="letter-spacing:0.2pt;">&#8221; means Bitcoin Cash; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BCHA</font><font style="letter-spacing:0.2pt;">&#8221; means Bitcoin Cash ABC; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BSV</font><font style="letter-spacing:0.2pt;">&#8221; means Bitcoin Satoshi&#8217;s Vision; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTC</font><font style="letter-spacing:0.2pt;">&#8221; means means Bitcoin; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">BTM</font><font style="letter-spacing:0.2pt;">&#8221; means Bytom; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">CKB</font><font style="letter-spacing:0.2pt;">&#8221; means Nervos Network; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">DASH</font><font style="letter-spacing:0.2pt;">&#8221; means Dash; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">DCR</font><font style="letter-spacing:0.2pt;">&#8221; means Decred; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">DOGE</font><font style="letter-spacing:0.2pt;">&#8221; means Dogecoin; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">DPoS</font><font style="letter-spacing:0.2pt;">&#8221; means Delegated Proof-of-Stake; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">EH/s</font><font style="letter-spacing:0.2pt;">&#8221; means exahash per second; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">ETC</font><font style="letter-spacing:0.2pt;">&#8221; means Ethereum Classic;</font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">ETH</font><font style="letter-spacing:0.2pt;">&#8221; means Ethereum; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">ETN</font><font style="letter-spacing:0.2pt;">&#8221; means Electroneum;</font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">FIL</font><font style="letter-spacing:0.2pt;">&#8221; means Filecoin; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">HNS</font><font style="letter-spacing:0.2pt;">&#8221; means Handshake coin; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">j/T</font><font style="letter-spacing:0.2pt;">&#8221; means joule/terahash; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">LTC</font><font style="letter-spacing:0.2pt;">&#8221; means Litecoin;</font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">PoC</font><font style="letter-spacing:0.2pt;">&#8221; means Proof-of-Capacity; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">PoS</font><font style="letter-spacing:0.2pt;">&#8221; means Proof-of-Stake; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">PoST</font><font style="letter-spacing:0.2pt;">&#8221; means Proof-of-Spacetime; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">PoW</font><font style="letter-spacing:0.2pt;">&#8221; means Proof-of-Work; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">SC</font><font style="letter-spacing:0.2pt;">&#8221; means Siacoin; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">TH/s</font><font style="letter-spacing:0.2pt;">&#8221; means terahash per second; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">USDC</font><font style="letter-spacing:0.2pt;">&#8221; means USD Coin; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">USDT</font><font style="letter-spacing:0.2pt;">&#8221; means Tether, a cryptocurrency that is hosted on the Ethereum and Bitcoin blockchains, among others; </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">XCH</font><font style="letter-spacing:0.2pt;">&#8221; means Chia; and </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">ZEC</font><font style="letter-spacing:0.2pt;">&#8221; means Zcash.</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">9</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQAAA">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">QUESTIONS AND ANSWERS ABOUT THE PROPOSALS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">The following are answers to some questions that you, as a shareholder of BSGA, may have regarding the Proposals being considered at the Extraordinary General Meeting. We urge you to read carefully the remainder of this proxy statement because the information in this section does not provide all the information that might be important to you with respect to the Proposals and the other matters being considered at the Extraordinary General Meeting. Additional important information is also contained in the annexes to and the documents incorporated by reference into this proxy statement.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8.5pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:8.5pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What is the purpose of this document?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.49pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:8.49pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">BSGA, BTG, Bitdeer, Blue Safari Mini Corp., an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly-owned subsidiary of BSGA, Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG, Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG, Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of BTG and Blue Safari Mini Corp., an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly-owned subsidiary of BSGA have agreed to the Business Combination under the terms of the Merger Agreement, which is attached to this proxy statement as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex A</font><font style="letter-spacing:0.2pt;">, and is incorporated into this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus by reference. The BSGA Board is soliciting your proxy to vote for the Business Combination and other Proposals at the Extraordinary General Meeting because you owned BSGA ordinary shares at the close of business on &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, 2022, the &#8220;Record Date&#8221; for the Extraordinary General Meeting, and are therefore entitled to vote at the Extraordinary General Meeting. This proxy statement/prospectus summarizes the information that you need to know in order to cast your vote. </font></div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
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        <div style=" margin-top:8.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Why is BSGA proposing the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.6pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:8.6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">BSGA was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more operating businesses. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based on its due diligence investigations of Bitdeer and the industry in which it operates, including the financial and other information provided by Bitdeer in the course of BSGA&#8217;s due diligence investigations, the BSGA Board believes that the Business Combination is in the best interests of BSGA and its shareholders and presents an opportunity to increase shareholder value. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Although the BSGA Board believes that the Business Combination with Bitdeer presents a unique business combination opportunity and is in the best interests of BSGA and its shareholders, the BSGA Board did consider certain potentially material negative factors in arriving at that conclusion. See &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Reasons for BSGA Board&#8217;s Approval of the Business Combination&#8221; for a discussion of the factors considered by the BSGA Board in making its decision. </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
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        <div style=" margin-top:8.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What is being voted on?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:8.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Below are the proposals that the BSGA Shareholders are being asked to vote on: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Business Combination Proposal to approve the Merger Agreement and the Business Combination; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Initial Mergers Proposal to approve the Initial Mergers (being presented to BSGA&#8217;s shareholders separately in light of BVI law requirements and for good governance practice); </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Nasdaq Proposal to approve the issuance of securities in connection with the Business Combination to satisfy requirements of Nasdaq Listing Rule 5635; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal to approve the Amended BTG Articles; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposals A to D to approve certain key differences between the Existing BSGA Articles and the Amended BTG Articles; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The BTG Incentive Plan&#160;Proposal to approve the BTG Incentive Plan; and </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">10</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Adjournment Proposal to approve the adjournment of the Extraordinary General Meeting for the purpose of soliciting additional proxies in favor of the approval of the Business Combination in the event BSGA does not receive the requisite shareholder vote to approve the Business Combination. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What vote is required to approve the Proposals?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.81pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:7.81pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Business Combination Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Business Combination Proposal. Neither a shareholder&#8217;s failure to vote online during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Initial Mergers Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Initial Mergers Proposal. Neither a shareholder&#8217;s failure to vote online during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Nasdaq Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Meeting vote &#8220;FOR&#8221; the Nasdaq Proposal. Neither a shareholder&#8217;s failure to vote online during the Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Initial Mergers Proposal. Neither a shareholder&#8217;s failure to vote online during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each of the Governing Documents Proposals A to D will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; such proposal. Neither a shareholder&#8217;s failure to vote online during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The BTG Incentive Plan&#160;Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the BTG Incentive Plan&#160;Proposal. Neither a shareholder&#8217;s failure to vote online during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Adjournment Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Adjournment Proposal. Neither a shareholder&#8217;s failure to vote online during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.91pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
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        <div style=" margin-top:7.91pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Are any of the proposals conditioned on one another?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Yes. Each of the Condition Precedent Proposals is conditioned on the approval and adoption of the other Condition Precedent Proposals. The Adjournment Proposal is not conditioned upon the approval of any other Proposal. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
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          <font style="letter-spacing:-0.2pt;">How will the Initial Shareholders vote?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to a letter agreement, the Initial Shareholders, who as of the Record Date owned 1,437,500 BSGA Ordinary Shares, or approximately 19.1% of the outstanding BSGA ordinary shares, agreed to vote their respective BSGA Ordinary Shares acquired by them prior to the IPO and any BSGA Ordinary Shares purchased by them in the open market in or after the IPO in favor of the Business Combination </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">11</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Proposal (&#8220;Letter Agreement&#8221;). The Initial Shareholders have also agreed that they will vote any shares they purchase in the open market in or after the IPO in favor of the Business Combination Proposal. BSGA anticipates that the Initial Shareholders will vote in favor of each of the other Proposals. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">How many votes do I and others have?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">You are entitled to one vote for each BSGA Ordinary Share that you held as of the Record Date. As of the close of business on the Record Date, there were 7,537,500 outstanding ordinary shares. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What is the consideration being paid to Bitdeer&#8217;s security holders?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Upon the effective time of the Acquisition Merger, (i)&#160;each issued and outstanding Bitdeer Ordinary Share and Bitdeer Preference Share will be cancelled and exchanged for the right to receive such number of BTG Class&#160;A Ordinary Share equal to the Exchange Ratio (as defined in the Merger Agreement), which will trade in the United States in the form of ADSs, provided that each issued and outstanding Key Executive Share (as defined in the Merger Agreement) will be cancelled and exchanged for the right to receive such number of BTG Class&#160;V Ordinary Shares equal to the Exchange Ratio; (ii)&#160;each issued and outstanding Bitdeer RSU will be converted into an award of restricted share&#160;units, representing the rights to receive BTG Class&#160;A Ordinary Share under the BTG Incentive Plan, each subject to substantially the same terms, as adjusted for the Exchange Ratio; (iii)&#160;the outstanding Bitdeer Convertible Note (as defined in the Merger Agreement) will be assumed by BTG and represent the rights to receive BTG Class&#160;A Ordinary Shares, subject to the same terms and conditions, as adjusted for the Exchange Ratio; and (iv)&#160;each Dissenting Share (as defined in the Merger Agreement) will represent only the right to receive the applicable payments set forth in the Merger Agreement. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Do any of BSGA&#8217;s directors or officers have interests that may conflict with my interests with respect to the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">In considering the recommendation of the Board to approve the Merger Agreement, BSGA Shareholders should be aware that certain BSGA executive officers and directors may be deemed to have interests in the Business Combination that are different from, or in addition to, those of BSGA Shareholders generally. These interests, which may create actual or potential conflicts of interest, are, to the extent material, described in the section entitled &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Interests of BSGA Directors and Officers in the Business Combination&#8221; beginning on page 138. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What is a BTG ADS?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">An American Depositary Share, or ADS, is a security that allows persons in the United States to more easily hold and trade interests in companies incorporated or organized in a non-U.S. country. BTG is a company organized under the laws of Cayman Islands that issues ordinary shares that are equivalent in many respects to ordinary shares of a BVI company. Each BTG ADS represents [&#8226;] BTG ordinary shares. BTG plans to file an initial listing application to list the BTG ADSs on The Nasdaq Stock Market under the symbol &#8220;BTDR.&#8221; The Bank of New York Mellon is the depositary of the BTG Shares underlying the BTG ADSs and will be responsible for issuing BTG ADSs to shareholders of BSGA. </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">When will BSGA Shareholders receive BTG ADSs in connection with the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Upon the effective time of the First SPAC Merger, (i) each issued and outstanding BSGA Ordinary Share will be cancelled and exchanged for the right to receive one BTG Class A Ordinary Share, which will trade in the United States in the form of BTG ADSs, and (ii) each BSGA Right will be cancelled and exchanged for the right to receive one-tenth (1/10) of a BTG Class A Ordinary Share in the same manner as BSGA Ordinary Shares. </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Will BSGA Shareholders be able to trade the BTG ADSs that they receive in the transaction?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Yes. BTG plans to file an initial listing application to list the BTG ADSs on The Nasdaq Stock Market under the symbol &#8220;BTDR.&#8221; BTG ADSs received in exchange for BSGA Shares in the transaction will be freely transferable under United States federal securities laws by persons other than affiliates of the BTG. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">12</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Can I receive BTG Shares in the Business Combination instead of BTG ADSs?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">No. However, following the Closing, and your receipt of BTG ADSs, you may turn in your BTG ADSs at the depositary&#8217;s corporate trust office or by providing appropriate instructions to your broker. Upon payment of the fees provided in the deposit agreement and any applicable taxes, the depositary will deliver the BTG Shares underlying the BTG ADSs to you. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">When and where is the Extraordinary General Meeting?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Extraordinary General Meeting will take place on &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199; at &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199; Eastern time, at the office of Davis Polk &amp; Wardwell LLP, 450 Lexington Avenue, New York, NY 10017, and virtually via live webcast at &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; . </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In light of ongoing developments related to COVID-19, and the related protocols that governments have implemented, the BSGA Board determined that the Extraordinary General Meeting will be held both physically and also virtually via live webcast. The BSGA Board believes that this is the right choice for BSGA and its shareholders at this time, as it permits shareholders to attend and participate in the Extraordinary General Meeting while safeguarding the health and safety of BSGA Shareholders, directors and management team. You will be able to attend the Extraordinary General Meeting online, vote, view the list of shareholders entitled to vote at the Extraordinary General Meeting and submit your questions during the Extraordinary General Meeting by visiting [&#8226;]. To participate in the virtual meeting, you will need a 12-digit control number assigned by Continental. The meeting webcast will begin promptly at [&#8226;], Eastern time. BSGA encourages you to access the Extraordinary General Meeting prior to the start time and you should allow ample time for the check-in procedures. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Who may vote at the Extraordinary General Meeting?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Only holders of record of BSGA ordinary shares as of the close of business on [&#8226;] may vote at the Extraordinary General Meeting of shareholders. As of [&#8226;], there were 7,537,500 ordinary shares outstanding and entitled to vote. Please see &#8220;Extraordinary General Meeting of BSGA Shareholders&#8201;&#8212;&#8201;Record Date; Who is Entitled to Vote&#8221; for further information. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.91pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.91pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What is the quorum requirement for the Extraordinary General Meeting?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Shareholders representing not less than 50 percent of the ordinary shares issued and outstanding as of the Record Date and entitled to vote at the Extraordinary General Meeting must be present in person physically or by virtual attendance or represented by proxy in order to hold the Extraordinary General Meeting and conduct business. This is called a quorum. Ordinary shares will be counted for purposes of determining if there is a quorum if the shareholder (i)&#160;is present and entitled to vote at the meeting, or (ii)&#160;has properly submitted a proxy card or voting instructions through a broker, bank, or custodian. In the absence of a quorum, shareholders representing a majority of the votes present in person or represented by proxy at such meeting may adjourn the meeting until a quorum is present. </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Am I required to vote against the Business Combination Proposal in order to have my Public Shares redeemed?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">No. You are not required to vote against the Business Combination Proposal in order to have the right to demand that BSGA redeem your Public Shares for cash equal to your pro&#160;rata share of the aggregate amount then on deposit in the Trust Account (before payment of deferred underwriting commissions and including interest earned on their pro&#160;rata portion of the Trust Account, net of taxes payable). These rights to demand redemption of Public Shares for cash are sometimes referred to herein as &#8220;Redemption Rights.&#8221; If the Business Combination is not completed, holders of Public Shares electing to exercise their Redemption Rights will not be entitled to receive such payments and their BSGA Ordinary Shares will be returned to them. </font>
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        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">How do I exercise my Redemption Rights?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:6.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">If you are a public shareholder and you seek to have your Public Shares redeemed, you must (i)&#160;demand, no later than [&#8226;] p.m., Eastern time on [&#8226;], 2022 (at least two business days before the Extraordinary General Meeting), that BSGA redeem your shares into cash; and (ii)&#160;submit your request in writing to [&#8226;], </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">13</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">at the address listed at the end of this section and deliver your shares to Continental physically or electronically using The Depository Trust Company&#8217;s (&#8220;DTC&#8221;) DWAC (Deposit/Withdrawal at Custodian) System at least two business days before the Extraordinary General Meeting. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any corrected or changed written demand of Redemption Rights must be received by Continental, two business days before the Extraordinary General Meeting. No demand for redemption will be honored unless the holder&#8217;s shares have been delivered (either physically or electronically) to Continental at least two business days before the Extraordinary General Meeting. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA Shareholders may seek to have their public shares redeemed regardless of whether they vote for or against the Business Combination and whether or not they are holders of ordinary shares as of the Record Date. Any public shareholder who holds ordinary shares on or before [&#8226;], 2022 (two business days before the Extraordinary General Meeting) will have the right to demand that his, her or its shares be redeemed for a pro&#160;rata share of the aggregate amount then on deposit in the trust account, less any taxes then due but not yet paid, at the consummation of the Business Combination. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The actual per share redemption price will be equal to the aggregate amount then on deposit in the Trust Account (before payment of deferred underwriting commissions and including interest earned on their pro&#160;rata portion of the Trust Account, net of taxes payable), divided by the number of ordinary shares underlying the BSGA Units sold in the IPO. Please see the section titled &#8220;Extraordinary General Meeting of BSGA Shareholders&#8201;&#8212;&#8201;Redemption Rights&#8221; for the procedures to be followed if you wish to redeem your ordinary shares for cash. </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
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        <div style=" margin-top:7.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What is the recommendation of the BSGA Board?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:7.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">After careful consideration, the BSGA Board unanimously recommends that such BSGA Shareholders, vote &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of the Business Combination Proposal, &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of the Initial Mergers Proposal, &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of the Nasdaq Proposal, &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of the Governing Documents Proposal, &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of each of the Governing Documents Proposals A to D, &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of the BTG Incentive Plan&#160;Proposal, and &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">FOR</font><font style="letter-spacing:0.2pt;">&#8221; the approval of the Adjournment Proposal. For details on the required votes to approve each proposal, see &#8220;What vote is required to approve the Proposals?&#8221; </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
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          <font style="letter-spacing:-0.2pt;">How can I vote?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A:</font>
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          <font style="letter-spacing:0.2pt;">If you are a BSGA Shareholder of record, you may vote in person (physically or by virtual appearance) at the Extraordinary General Meeting or vote by proxy using the enclosed proxy card, the Internet or telephone. Whether or not you plan to participate in the Extraordinary General Meeting, we urge you to vote by proxy to ensure your vote is counted. Even if you have already voted by proxy, you may still attend the virtual Extraordinary General Meeting and vote online, if you choose. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To vote online at the Extraordinary General Meeting, follow the instructions below under &#8220;How may I participate in the Extraordinary General Meeting virtually?&#8221; </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To vote using the proxy card, please complete, sign and date the proxy card and return it in the prepaid envelope. If you return your signed proxy card before the Extraordinary General Meeting, we will vote your shares as you direct. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To vote via the telephone, you can vote by calling the telephone number on your proxy card. Please have your proxy card handy when you call. Easy-to-follow voice prompts will allow you to vote your shares and confirm that your instructions have been properly recorded. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To vote via the Internet, please go to [&#8226;] and follow the instructions. Please have your proxy card handy when you go to the website. As with telephone voting, you can confirm that your instructions have been properly recorded. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Telephone and Internet voting facilities for shareholders of record will be available 24 hours a day until 11:59&#160;p.m. Eastern Time on [&#8226;], 2022. After that, telephone and Internet voting will be closed, and if you want to vote your shares, you will either need to ensure that your proxy card is received before the date of the Extraordinary General Meeting or attend the virtual Meeting to vote your shares online. </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14</font>
          <br >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If your shares are registered in the name of your broker, bank or other agent, you are the &#8220;beneficial owner&#8221; of those shares and those shares are considered as held in &#8220;street name.&#8221; If you are a beneficial owner of shares registered in the name of your broker, bank or other agent, you should have received a proxy card and voting instructions with these proxy materials from that organization rather than directly from us. Simply complete and mail the proxy card to ensure that your vote is counted. You may be eligible to vote your shares electronically over the Internet or by telephone. A large number of banks and brokerage firms offer Internet and telephone voting. If your bank or brokerage firm does not offer Internet or telephone voting information, please complete and return your proxy card in the self-addressed, postage-paid envelope provided. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you plan to vote at the virtual Meeting, you will need to contact [&#8226;] at the phone number or email below to receive a control number and you must obtain a legal proxy from your broker, bank or other nominee reflecting the number of ordinary shares you held as of the Record Date, your name and email address. You must contact [&#8226;] for specific instructions on how to receive the control number. Please allow up to 48 hours prior to the meeting for processing your control number. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">After obtaining a valid legal proxy from your broker, bank or other agent, to then register to attend the Extraordinary General Meeting, you must submit proof of your legal proxy reflecting the number of your shares along with your name and email address to [&#8226;]. Requests for registration should be directed to [&#8226;] or email [&#8226;]. Requests for registration must be received no later than [&#8226;] p.m., Eastern Time, on [&#8226;], 2022. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You will receive a confirmation of your registration by email after we receive your registration materials. We encourage you to access the Extraordinary General Meeting prior to the start time leaving ample time for the check in. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">How may I participate in the Extraordinary General Meeting virtually?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">If you are a shareholder of record as of the Record Date for the Extraordinary General Meeting, you should receive a proxy card from Continental, containing instructions on how to attend the Extraordinary General Meeting virtually including the URL address, along with your control number. You will need your control number for access. If you do not have your control number, contact [&#8226;] at [&#8226;] or email [&#8226;]. You can pre-register to attend the Extraordinary General Meeting virtually starting on [&#8226;], 2022. Go to http://www.&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, enter the control number found on your proxy card you previously received, as well as your name and email address. Once you pre-register you can vote [or enter questions in the chat box]. At the start of the Extraordinary General Meeting you will need to re-log into http://www.&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199; using your control number. </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If your shares are held in street name, and you would like to join and not vote, [&#8226;] will issue you a guest control number. Either way, you must contact [&#8226;] for specific instructions on how to receive the control number. Please allow up to 48 hours prior to the meeting for processing your control number. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
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        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Who can help answer any other questions I might have about the Extraordinary General Meeting?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">If you have any questions concerning the virtual Meeting (including accessing the meeting by virtual means) or need help voting your ordinary shares, please contact [&#8226;] at [&#8226;] or email [&#8226;]. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Notice of Extraordinary General Meeting, Proxy Statement and form of Proxy Card are available at: [&#8226;]. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If my shares are held in &#8220;street name&#8221; by my bank, brokerage firm or nominee, will they automatically vote my shares for me?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
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        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">No. If you are a beneficial owner and you do not provide voting instructions to your broker, bank or other holder of record holding shares for you, your shares will not be voted with respect to any Proposal for which your broker does not have discretionary authority to vote. If a proposal is determined to be discretionary, your broker, bank or other holder of record is permitted to vote on the proposal without receiving voting instructions from you. If a proposal is determined to be non-discretionary, your broker, bank or other holder of record is not permitted to vote on the proposal without receiving voting instructions from you. A &#8220;broker non-vote&#8221; occurs when a bank, broker or other holder of record holding shares for a beneficial owner does not vote on a non-discretionary proposal because the holder of record </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">15</font>
          <br >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">has not received voting instructions from the beneficial owner. An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each of the Proposals to be presented at the Extraordinary General Meeting is a non-discretionary proposal. Accordingly, if you are a beneficial owner and you do not provide voting instructions to your broker, bank or other holder of record holding shares for you, your shares will not be voted with respect to any of the Proposals. An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. </font>
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        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What if I abstain from voting or fail to instruct my bank, brokerage firm or nominee?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.91pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:6.91pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">BSGA will count a properly executed proxy marked &#8220;ABSTAIN&#8221; with respect to a particular Proposal as present for the purposes of determining whether a quorum is present at the Extraordinary General Meeting. For purposes of approval, an abstention on any Proposals will have the same effect as a vote &#8220;AGAINST&#8221; such Proposal. </font>
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          <font style="letter-spacing:-0.2pt;">Q:</font>
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        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">How can I submit a proxy?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">You may submit a proxy by (a)&#160;visiting [&#8226;] and following the on-screen instructions (have your proxy card available when you access the webpage), or (b)&#160;calling toll-free [&#8226;] in the U.S. or [&#8226;] from foreign countries from any touch-tone phone and follow the instructions (have your proxy card available when you call), or (c)&#160;submitting your proxy card by mail by using the previously provided self-addressed, stamped envelope. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Can I change my vote after I have mailed my proxy card?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
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        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Yes. You may change your vote at any time before your proxy is voted at the Extraordinary General Meeting. You may revoke your proxy by executing and returning a proxy card dated later than the previous one, or by attending the Meeting in person and casting your vote or by voting again by the telephone or Internet voting options described below, or by submitting a written revocation stating that you would like to revoke your proxy that our proxy solicitor receives prior to the Extraordinary General Meeting. If you hold your ordinary shares through a bank, brokerage firm or nominee, you should follow the instructions of your bank, brokerage firm or nominee regarding the revocation of proxies. If you are a record holder, you should send any notice of revocation or your completed new proxy card, as the case may be, to: </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">[&#8226;] </font>
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        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Unless revoked, a proxy will be voted at the virtual Meeting in accordance with the shareholder&#8217;s indicated instructions. In the absence of instructions, proxies will be voted FOR each of the Proposals. </font>
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        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What will happen if I return my proxy card without indicating how to vote?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">If you sign and return your proxy card without indicating how to vote on any particular Proposal, the ordinary shares represented by your proxy will be voted in favor of each Proposal. Proxy cards that are returned without a signature will not be counted as present at the Extraordinary General Meeting and cannot be voted. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Should I send in my share certificates now to have my ordinary shares redeemed?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:6.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">BSGA Shareholders who intend to have their public shares redeemed should send their certificates to Continental at least two business days before the Extraordinary General Meeting. Please see &#8220;Extraordinary General Meeting of BSGA Shareholders&#8201;&#8212;&#8201;Redemption Rights&#8221; for the procedures to be followed if you wish to redeem your public shares for cash. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Who will solicit the proxies and pay the cost of soliciting proxies for the Extraordinary General Meeting?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">BSGA will pay the cost of soliciting proxies for the Extraordinary General Meeting. BSGA has engaged [&#8226;] to assist in the solicitation of proxies for the Extraordinary General Meeting. BSGA has agreed to pay [&#8226;] a fee of US$[&#8226;], plus disbursements, and will reimburse [&#8226;] for its reasonable out-of-pocket expenses and indemnify [&#8226;] and its affiliates against certain claims, liabilities, losses, damages, and expenses. BSGA will also reimburse banks, brokers and other custodians, nominees and fiduciaries representing beneficial </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">16</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">owners of ordinary shares for their expenses in forwarding soliciting materials to beneficial owners of the ordinary shares and in obtaining voting instructions from those owners. Our directors, officers and employees may also solicit proxies by telephone, by facsimile, by mail, on the Internet or in person. They will not be paid any additional amounts for soliciting proxies. </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What happens if I sell my shares before the Extraordinary General Meeting?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Record Date for the Extraordinary General Meeting is earlier than the date of the Extraordinary General Meeting, as well as the date that the Business Combination is expected to be consummated. If you transfer your ordinary shares after the Record Date, but before the Extraordinary General Meeting, unless the transferee obtains from you a proxy to vote those shares, you would retain your right to vote at the Extraordinary General Meeting, but will transfer ownership of the shares and will not hold an interest in BSGA after the Business Combination is consummated. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">When is the Business Combination expected to occur?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Assuming the requisite regulatory and shareholder approvals are received, BSGA expects that the Business Combination will occur as soon as possible following the Extraordinary General Meeting, which is expected to occur in the first quarter of 2022. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Are Bitdeer&#8217;s shareholders required to approve the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Yes. Bitdeer is seeking approval by shareholders of the Business Combination through a separate process and anticipates that such approval will be received prior to the consummation of the Business Combination. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Are there risks associated with the Business Combination that I should consider in deciding how to vote?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Yes. There are a number of risks related to the Business Combination and other transactions contemplated by the Merger Agreement that are discussed in this proxy statement/prospectus. Please read with particular care the detailed description of the risks described in &#8220;Risk Factors&#8221; beginning on page 40 of this proxy statement/prospectus. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:12.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:12.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">May I seek statutory appraisal rights or dissenter rights with respect to my shares?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Appraisal rights are available to holders of BSGA Ordinary Shares in connection with the proposed Business Combination. For additional information, see the section titled &#8220;The Extraordinary General Meeting of BSGA Shareholders&#8201;&#8212;&#8201;Appraisal Rights.&#8221; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What happens to the funds deposited in the Trust Account after consummation of the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">After consummation of the Business Combination, the funds in the Trust Account will be used to pay holders of the BSGA Public Shares who exercise their redemption rights, to pay transaction expenses incurred in connection with the Business Combination, including approximately US$[&#8226;] million for working capital of BTG and its subsidiaries and general corporate purposes of BTG and its subsidiaries. As of the date hereof, there were cash and marketable securities held in the Trust Account of approximately US$[&#8226;] million. These funds will not be released until the earlier of the completion of BSGA&#8217;s initial business combination or the redemption of BSGA Public Shares if BSGA is unable to complete an initial business combination by June&#160;14, 2022 subject to extensions of up to six&#160;months as described herein. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What happens if a substantial number of BSGA Public Shareholders vote in favor of the Business Combination Proposal and exercise their Redemption Rights?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">BSAG Public Shareholders may vote in favor of the Business Combination and still exercise their redemption rights; provided, however, that in the event that any closing condition provided in the Merger Agreement is not satisfied or otherwise waived, then the Business Combination will not be consummated. If shares are redeemed, the conditions to the Business Combination may not be satisfied and the Business Combination may not close or the trading market for BTG&#8217;s securities following the Closing and BTG&#8217;s financial position may be impacted by the redemption. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">17</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What equity stake will current BSGA Shareholders and Bitdeer securities holders hold in BTG immediately after the consummation of the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">It is anticipated that, upon completion of the Business Combination, the ownership of BTG Ordinary Shares will be as set forth in the table below: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <table style="width:456pt;height:154.5pt;margin-top:9pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:124.79pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 1</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming No Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 2</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined </font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Illustrative </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions)</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(4)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 3</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Maximum Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:124.79pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership in</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">in shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSGA Public Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;6,325,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.6<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">3,450,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.9<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">575,000</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:124.79pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">BSGA Sponsor, current directors, officers and affiliates , and representative shares</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">&#65279;(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;1,816,750</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:124.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Bitdeer Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(3)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:53.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">97.9<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">98.6<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:53.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">99.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:124.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:53.25pt; text-align:right; white-space:nowrap;">393,688,211</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">390,813,211</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:6.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:53.25pt; text-align:right; white-space:nowrap;">387,938,211</td>
            <td style="padding:0pt;padding-left:2.185pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt; width:2pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:8.7pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including one right to receive one-tenth of one BTG Share upon consummation of the Business Combination.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including 57,500 representative shares issued at IPO as compensation for their services.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including Bitdeer Preference Shares outstanding immediately prior to the Business Combination on an as converted basis and excluding Bitdeer RSUs and Bitdeer Convertible Note outstanding prior to the Business Combination. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(4)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Assuming 50% of the Public Shares will be redeemed. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Shareholders will experience additional dilution to the extent BTG issues additional shares after the Closing. The table above excludes (a) up to 14,453,539 BTG Ordinary Shares that may be issued upon conversion of US$30,000,000 principal amount of the Bitdeer Convertible Note and (b) up to 77,611,940 BTG Ordinary Shares that will be available for issuance under the Bitdeer Plan, which will be equal to 2,548,933,157 shares multiplied by the Exchange Ratio (as defined in the Merger Agreement). The following table illustrates the impact on relative ownership levels assuming the issuance of all such shares. </font>
        </div>
        <table style="width:456pt;height:220.5pt;margin-top:9pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:128.51pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 1</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming No</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 2</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Illustrative </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions)</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(4)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 3</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Maximum</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:128.51pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">in shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">in shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">in shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:128.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSGA Public Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">6,325,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.3<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">3,450,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.7<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">575,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:128.51pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">BSGA Sponsor, current directors, officers and affiliates , and representative shares</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font><font style="letter-spacing:0.2pt;"> . </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.3<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:128.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Bitdeer Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(3)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">79.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">79.8<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">80.3<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:128.51pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Shares underlying Bitdeer Convertible note </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">14,453,539</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">14,453,539</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">14,453,539</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:2.167pt 0pt 1.833pt 0pt; width:128.51pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Shares initially reserved for issuance under the Bitdeer Plan </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">77,611,940</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">16.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">77,611,940</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">16.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">77,611,940</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">16.2<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:128.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">485,753,690</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">482,878,690</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">480,003,690</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">18</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including one right to receive one-tenth of one BTG Share upon consummation of the Business Combination.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including 57,500 representative shares issued at IPO as compensation for their services.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including Bitdeer Preference Shares outstanding immediately prior to the Business Combination on an as converted basis and excluding Bitdeer RSUs and Bitdeer Convertible Note outstanding prior to the Business Combination. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(4)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Assuming 50% of the Public Shares will be redeemed.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the actual facts are different than the assumptions set forth above, the share numbers set forth above will be different. </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Additionally, the underwriters in the IPO are entitled to deferred compensation upon closing of the Business Combination in the amount of US$2,012,500, which amount is not subject to change based on redemption levels. The underwriters in the IPO were also issued 57,500 BSGA Class A Ordinary Shares at the closing of the IPO as compensation for their services in the IPO. Such shares are not subject to change based on redemption levels and are included as shares held by BSGA Public Shareholders in each of the tables above. The following table illustrates the effective deferred underwriting fee on a percentage basis for Public Shares at each redemption level identified below: </font>
        </div>
        <table style="width:456pt;height:95.5pt;margin-top:9pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:197.43pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 1</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming No </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 2</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined </font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Illustrative </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions)</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 3</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Maximum </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:197.43pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Unredeemed Public Shares </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;5,750,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;2,875,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8201;&#8212;&#8201; </td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.43pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trust Proceeds to BSGA </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;58,075,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;29,037,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8201;&#8212;&#8201; </td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.43pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred Underwriting Fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;2,012,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;2,012,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;2,012,500</td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.43pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Effective Deferred Underwriting Fee (%) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;3.5<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:57pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;6.9<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:53.25pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8201;&#8212;&#8201;<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0.664999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Assuming 50% of the Public Shares will be redeemed.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What happens if the Business Combination is not consummated?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">If BSGA does not consummate the Business Combination by June&#160;14, 2022 (subject to extensions of up to six months), and the deadline is not extended by the Board as provided in the Articles of Association, then pursuant to Article&#160;24 of the Articles of Association, BSGA&#8217;s officers must take all action necessary (i)&#160;to redeem the public shares within 10&#160;days in cash at a per-share amount equal to the applicable per-share redemption price and (ii)&#160;as promptly as practicable, to cease all operations except for the purpose of making such distribution and any subsequent winding up of the BSGA&#8217;s affairs. Following dissolution, BSGA will no longer exist as a company. In any liquidation, the funds held in the Trust Account, plus any interest earned thereon (net of taxes payable), together with any remaining out-of-trust net assets, will be distributed pro-rata to holders of ordinary shares who acquired such shares in the IPO or in the aftermarket. The estimated consideration that each ordinary share would be paid at liquidation would be approximately US$10.10 per share for shareholders based on amounts on deposit in the Trust Account as of March&#160;31, 2022. The closing price of BSGA Ordinary Shares on Nasdaq as of May 17, 2021 was US$10.08. The initial shareholders waived the right to any liquidation distribution with respect to any ordinary shares held by them. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What happens to the funds deposited in the Trust Account following the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Following the closing of the Business Combination, holders of public shares of BSGA exercising redemption rights will receive their per share redemption price out of the funds in the Trust Account. The balance of the funds will be released to Bitdeer to fund working capital needs of BTG. As of March&#160;31, 2022, there was approximately US$58,082,952 in the Trust Account. BSGA estimates that approximately US$10.10 per outstanding Public Share will be paid to the investors exercising their redemption rights. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">19</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:14pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If I am a holder of&#160;BSGA Units, can I exercise Redemption Rights with respect to my&#160;BSGA Units?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">No. Holders of outstanding&#160;BSGA Units must elect to separate the&#160;units into the underlying public shares and public rights prior to exercising redemption rights with respect to the public shares. If you hold your&#160;units in an account at a brokerage firm or bank, you must notify your broker or bank that you elect to separate the&#160;BSGA Units into the underlying public shares and public rights of BSGA, or if you hold&#160;units registered in your own name, you must contact Continental, BSGA&#8217;s transfer agent, directly and instruct them to do so. The Redemption Rights include the requirement that a holder must identify itself in writing as a beneficial holder and provide its legal name, phone number and address to the transfer agent in order to validly redeem its shares. If you fail to cause your&#160;units to be separated and delivered to Continental, prior to &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, Eastern time, on &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, you will not be able to exercise your redemption rights with respect to your Public Shares. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If I am a holder of BSGA Rights, can I exercise Redemption Rights with respect to my rights?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">No. Holders of BSGA Rights have no Redemption Rights. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What are the U.S. federal income tax consequences of exercising my Redemption Rights?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The receipt of cash by a U.S. holder of BSGA Class A Ordinary Shares in redemption of such shares will be a taxable transaction for U.S. federal income tax purposes. Please see the section entitled &#8220;Material Tax Considerations&#8201;&#8212;&#8201;Material U.S. Federal Income Tax Considerations&#8201;&#8212;&#8201;Consequences of a Redemption of BSGA Class A Ordinary Shares&#8221; for additional information. You are urged to consult your tax adviser regarding the tax consequences of exercising your redemption rights. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">What are the U.S. federal income tax consequences of the Business Combination to me?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">As discussed in more detail in the section entitled &#8220;Material Tax Considerations&#8201;&#8212;&#8201;Material U.S. Federal Income Tax Considerations,&#8221; U.S. holders of BSGA Class A Ordinary Shares should expect the exchange of their shares pursuant to the Business Combination to be a nontaxable transaction for U.S. federal income tax purposes. U.S. holders of BSGA Rights should also expect the same treatment, although there can be no assurance that the IRS will not assert that the transaction is not tax-free to holders of the BSGA Rights even if it is otherwise tax-free to the holders of BSGA Class A Ordinary Shares. See &#8220;Material Tax Considerations &#8212; Material U.S. Federal Income Tax Considerations &#8212; Consequences of the Business Combination.&#8221; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The discussion of the U.S. federal income tax consequences contained in this proxy statement/prospectus is intended to provide only a general discussion and is not a complete analysis or description of all of the U.S. federal income tax considerations that are applicable to you in respect of the Business Combination, nor does it address any tax considerations arising under U.S. state or local or non-U.S. tax laws. You are urged to consult your tax adviser regarding the tax consequences of the Business Combination to you.</font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Who will manage BTG after the Business Combination?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">As a condition to the closing of the Business Combination, all of the officers and directors of BSGA will resign. For information on the anticipated management of BTG, see the section titled &#8220;BTG&#8217;s Directors and Officers Following the Business Combination&#8221; in this proxy statement/prospectus. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Q:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Who can help answer my questions?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">A:</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">If you have questions about the Proposals or if you need additional copies of this proxy statement or the enclosed proxy card, you should contact BSGA&#8217;s proxy solicitor at: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">[&#8226;] </font>
        </div>
        <div style="margin-left:20pt; margin-top:7pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You may also obtain additional information about BSGA from documents filed with the SEC by following the instructions in the section titled &#8220;Where You Can Find More Information.&#8221;</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">20</font>
          <br >
        </div>
      </div>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tSOTP">&#8203;</a>
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            <font style="letter-spacing:-0.2pt;">SUMMARY OF THE PROXY STATEMENT/PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">This summary highlights selected information from this proxy statement/prospectus and does not contain all of the information that is important to you. To better understand the proposals to be submitted for a vote at the Extraordinary General Meeting, including the Business Combination, you should read this entire document carefully, including the Merger Agreement attached as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex A</font><font style="letter-spacing:0.2pt;"> to this proxy statement/prospectus. The Merger Agreement is the legal document that governs the Business Combination and the other transactions that shall be undertaken in connection with the Business Combination. It is also described in detail in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus in the section entitled &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;The Merger Agreement&#8221; Capitalized terms used in this Summary of the Proxy Statement/Prospectus not otherwise defined in this proxy statement/ prospectus shall have the meanings ascribed to them in the Merger Agreement.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font></div>
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            <font style="letter-spacing:-0.2pt;">The Parties to the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:-0.2pt;">Bitdeer</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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              <font style="letter-spacing:0.2pt;">Bitdeer is a world-leading technology company for the cryptocurrency mining community. As of December 31, 2021, Bitdeer was the world&#8217;s second largest holder of proprietary hash rate, which is defined as hash rate generated from proprietary mining machines; by allocating part of our proprietary hash rate for sale, we were&#160;the world&#8217;s largest supplier of hash rate, as measured by hash rate for sale in the cloud hash rate sharing market, which is defined as a market where players sell part of their hash rate to customers, according to Frost &amp; Sullivan. </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer mines cryptocurrencies for its own account and serves the cryptocurrency mining community by providing innovative, reliable and easy-to-use cryptocurrency mining solutions. Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States and Norway with an aggregate electricity capacity of 402MW as of December 31, 2021, which it expects to increase to 974MW by the end of 2022 by expanding footprints to six mining datacenters globally. To date, Bitdeer primarily operates three business lines&#8201;&#8212;&#8201;&#8220;proprietary mining,&#8221; &#8220;hash rate sharing&#8221; and &#8220;hosting,&#8221; all of which are supported by </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">, Bitdeer&#8217;s self-developed integrated intelligent software platform, to enhance operational efficiency. </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer is an exempted company with limited liability incorporated on November&#160;18, 2020 under the laws of the Cayman Islands. The mailing address of Bitdeer&#8217;s principal executive office is 08 Kallang Avenue, Aperia&#160;tower 1, #09-03/04, Singapore 339509 and its contact number is +65 62828220. Bitdeer&#8217;s corporate website address is https://www.bitdeer.com. Bitdeer&#8217;s website and the information contained on, or that can be accessed through, the website is not deemed to be incorporated by reference in, and is not considered part of, this proxy statement/prospectus. After the consummation of the Business Combination at the Closing on the Closing Date, Bitdeer will become a wholly-owned subsidiary of BTG. </font>
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            <font style="letter-spacing:-0.2pt;">BSGA</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">BSGA is a blank check company incorporated as a BVI business company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">,</font><font style="letter-spacing:0.2pt;"> or similar business combination with one or more businesses in the financial technology (FinTech), information technology (InfoTech), insurance technology (InsurTech) and business services. </font>
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            <font style="letter-spacing:-0.2pt;">BTG</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Immediately following the Business Combination, BTG will qualify as a foreign private issuer as defined in Rule&#160;3b-4 under the Exchange Act. Also, BTG will be a &#8220;controlled company&#8221; within the meaning of the Nasdaq corporate governance standards and eligible to take advantage of exemptions from certain Nasdaq corporate governance standards. BTG was incorporated on December&#160;8, 2021, solely for the purpose of effectuating the Business Combination described herein. BTG was incorporated under the laws of the Cayman Islands as an exempted company limited by shares. BTG does not own any material assets and does not operate any business. </font>
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            <font style="letter-spacing:0.2pt;">As of the consummation of the Business Combination at the Closing on the Closing Date, the number of directors of BTG will be increased to &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, &#8199;&#8199;&#8199;&#8199;&#8199;&#8199; of whom shall be independent directors. The mailing </font>
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          <font style="letter-spacing:0.2pt;">21</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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            <font style="letter-spacing:0.2pt;">address of BTG is Harbour Place, 2nd Floor, 103 South Church Street, P.O. Box 472, George Town, Cayman&#160;Islands, KY1-1106. After the consummation of the Business Combination at the Closing on the Closing Date, BTG will become the continuing public company. </font>
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            <font style="letter-spacing:-0.2pt;">The Business Combination Proposal</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">The Merger Agreement contemplates three mergers in connection with the Business Combination, consisting of the First SPAC Merger, the Second SPAC Merger and the Acquisition Merger. At the effective time of the First SPAC Merger, BSGA Merger Sub 1 will be merged with and into BSGA, and the separate corporate existence of BSGA Merger Sub 1 will cease and BSGA will continue as the surviving company under the laws of the British Virgin Islands. Immediately following the First SPAC Merger and at the effective time of the Second SPAC Merger, BSGA will be merged with and into BSGA Merger Sub 2 and BSGA Merger Sub 2 will continue as the surviving company in the Second SPAC Merger under the laws of the British Virgin Islands as a wholly-owned subsidiary of BTG. Following the Second SPAC Merger, at the effective time of the Acquisition Merger, Bitdeer Merger Sub will be merged with and into Bitdeer. Following the Acquisition Merger, the separate corporate existence of Bitdeer Merger Sub will cease and Bitdeer will continue as the surviving company in the Acquisition Merger under the laws of the Cayman Islands and become a wholly-owned subsidiary of BTG. </font>
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          <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Reasons for the Structure of the Business Combination</font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">As contemplated by the Merger Agreement, the Business Combination will be consummated via a multiple-merger structure (also known as &#8220;double dummy&#8221;), consisting of the Initial Mergers and the Acquisition Merger. Under such structure, each of BSGA and Bitdeer will merge with a subsidiary of BTG, a newly formed company, through the Initial Mergers and the Acquisition Merger, respectively. Upon the consummation of the Business Combination, BTG will be the public company listed on Nasdaq. The multiple-merger structure was chosen by the parties to the Merger Agreement for business, legal and accounting reasons. In particular, given BTG&#8217;s eligibility as a foreign private issuer, its reporting obligations under U.S. securities laws will be less burdensome compared to domestic registrants and BTG will be able to prepare and file its financial statements in accordance with the International Financial Reporting Standards. Such benefit will not be available immediately upon Closing if the Business Combination were to be conducted through a reverse triangular merger in which Bitdeer would be acquired directly by BSGA, which would continue to report as a domestic registrant upon Closing until further assessment of factors such as its shareholder base and location of assets at a future date pursuant to U.S. securities laws. Operationally, following the Business Combination conducted via the proposed structure, BTG will be a holding company that will operate Bitdeer&#8217;s current business through its subsidiaries, which is consistent with the expectations of Bitdeer and BSGA&#8217;s management in relation to post-Business Combination corporate and operational structure.</font>
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            <font style="letter-spacing:0.2pt;">In addition, the Initial Mergers are structured as two separate mergers primarily for U.S. tax reasons. The exchange of BSGA Securities (as defined in &#8220;Material U.S. Federal Income Tax Considerations&#8221;) for BTG Class A Ordinary Shares pursuant to the Business Combination is intended to qualify as a tax-free transaction for U.S. federal income tax purposes. See &#8220;Material U.S. Federal Income Tax Considerations &#8212; Consequences of the Business Combination &#8212; Qualification of the Initial Mergers as a Reorganization.&#8221; The Initial Mergers that effect the exchange of BSGA Securities for BTG Class A Ordinary Shares are structured as a two-step merger in the form of the First SPAC Merger and the Second SPAC Merger to reduce the risk that holders will be subject to U.S. federal income tax on the exchange of their BSGA Securities for BTG Class A Ordinary Shares. </font>
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            <font style="letter-spacing:-0.2pt;">Conditions to Closing</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">The Closing is subject to the satisfaction or waiver of certain customary conditions by the parties thereto, including, among others, (i)&#160;approval of the mergers and the transactions contemplated by the Merger Agreement by the shareholders of BSGA and Bitdeer; (ii)&#160;effectiveness of the Registration Statement; (iii)&#160;expiration or termination of the waiting period under antitrust laws; (iv)&#160;receipt of approval for listing on the Nasdaq Capital Market of BTG Class&#160;A Ordinary Shares; and (v)&#160;BSGA having at least US$5,000,001 of net tangible assets remaining immediately after the Closing. </font>
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          <font style="letter-spacing:0.2pt;">22</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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            <font style="letter-spacing:0.2pt;">In addition, the obligations of each of BSGA and Bitdeer to consummate the transactions contemplated by the Merger Agreement are subject to customary conditions, including, among other aspects, (i)&#160;the accuracy of the representations and warranties of the other party (subject to customary bring-down standards); and (ii)&#160;the covenants of the other party having been performed in all material respects. </font>
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            <font style="letter-spacing:-0.2pt;">Related Agreements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Voting and Support Agreement</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Concurrently with the execution of the Merger Agreement, BTG, BSGA and Bitdeer also entered into a Voting and Support Agreement with certain Bitdeer shareholder (the &#8220;Supporting Shareholder&#8221;) with respect to the shares of Bitdeer currently owned by the Supporting Shareholder. The Voting and Support Agreement provides that the Supporting Shareholder will appear at shareholders meetings of Bitdeer and vote, consent or approve the Merger Agreement and the transactions contemplated by the Merger Agreement, whether at a shareholder meeting of Bitdeer or by written consent. It further provides that the Supporting Shareholder will vote against (or act by written consent against) any alternative proposals or actions that would impede, interfere with, delay, postpone or adversely affect the transactions contemplated by the Merger Agreement. </font>
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            <font style="letter-spacing:0.2pt;">Lock-up Agreement</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Concurrently with the closing of the Merger Agreement, certain holders of at least 95% of the outstanding shares of the Company immediately prior to the closing (collectively, the &#8220;Lock-up Shareholders&#8221;) will enter into certain lock-up agreements (the &#8220;Lock-up Agreements&#8221;) with BTG, pursuant to which each Lock-up Shareholder agrees to, among other things, lock up all equity interests of BTG held by such Lock-up Shareholder immediately after the effective time of the Acquisition Merger for a period of 180&#160;days from such effective time, subject to certain exceptions. </font>
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            <font style="letter-spacing:-0.2pt;">Merger Consideration</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">In accordance with the terms and subject to the conditions of the Merger Agreement, upon the effective time of the First SPAC Merger, (i)&#160;each issued and outstanding BSGA Ordinary Share will be cancelled and exchanged for the right to receive one BTG Class A Ordinary Share, which will trade in the United States in the form of ADS, and (ii)&#160;each BSGA Right will be cancelled and exchanged for the right to receive one-tenth&#160;(1/10) of a BTG Class A Ordinary Share in the same manner as BSGA Ordinary Share as set forth in subclause (i), with fractional shares to be either rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of British Virgin Islands law. </font>
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            <font style="letter-spacing:0.2pt;">At the effective time of the First SPAC Merger, (i)&#160;each BSGA Ordinary Share issued and outstanding immediately prior to the effective time of the First SPAC Merger (other than the BSGA Dissenting Shares) will be cancelled and cease to exist in exchange for the right to receive one BTG Class&#160;A Ordinary Share, except that the BSGA Ordinary Shares that are owned by BSGA as treasury shares or owned by any direct or indirect subsidiary of BSGA will be canceled and cease to exist without any consideration; (ii)&#160;each BSGA Dissenting Share owned by BSGA shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the First SPAC Merger pursuant to BVI Companies Act will represent only the right to receive the payment resulting from the procedure set forth in the BVI Companies Act with respect to the BSGA Dissenting Shares owned by such BSGA Shareholders, and (iii)&#160;the one share of BTG that was outstanding immediately prior to the effective time of the First SPAC Merger will be redeemed for an amount of US$0.0000001 and cancelled. </font>
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            <font style="letter-spacing:0.2pt;">At the effective time of the Acquisition Merger, (i)&#160;each Bitdeer Ordinary Share and each Bitdeer Preference Share issued and outstanding immediately prior to the effective time of the Acquisition Merger (other than any Key Executive Shares and Bitdeer Dissenting Shares) will be cancelled and cease to exist in exchange for the right to receive such number of BTG Class&#160;A Ordinary Shares that is equal to the Exchange Ratio; (ii)&#160;each Key Executive Share issued and outstanding immediately prior to the effective time of the Acquisition Merger will be cancelled and cease to exist in exchange for the right to receive such number of BTG Class&#160;V Ordinary Shares that is equal to the Exchange Ratio; (iii)&#160;each Bitdeer RSU outstanding immediately prior to the effective time of the Acquisition Merger, whether vested or unvested, will be assumed by BTG and converted into an award of restricted share&#160;units, representing the right to receive, on the same </font>
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          <font style="letter-spacing:0.2pt;">23</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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            <font style="letter-spacing:0.2pt;">terms and conditions (including applicable vesting, settlement and expiration provisions) as applied to such Bitdeer RSU immediately prior to the effective time of the Acquisition Merger, BTG Class&#160;A Ordinary Shares, except that the number of BTG Class&#160;A Ordinary Shares subject to such restricted share&#160;units will equal the product of the number of Bitdeer Ordinary Shares that were subject to such Bitdeer RSU multiplied by the Exchange Ratio, rounded down to the nearest whole share; (iv)&#160;the Bitdeer Convertible Note outstanding immediately prior to the effective time of the Acquisition Merger will be assumed by BTG and represent the rights to receive, on the same terms and conditions as applied to such Bitdeer Convertible Note, BTG Class&#160;A Ordinary Shares, except that the number of BTG Class&#160;A Ordinary Shares to be received upon conversion of the Bitdeer Convertible Note will equal the product of the number of Bitdeer Ordinary Shares issuable upon conversion of the Bitdeer Convertible Note multiplied by the Exchange Ratio, rounded down to the nearest whole share; and (v)&#160;each Bitdeer Dissenting Share owned by Bitdeer shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Acquisition Merger pursuant to the Cayman Companies Act will represent only the right to receive the payment resulting from the procedure set forth in the Cayman Companies Act with respect to the Bitdeer Dissenting Shares owned by such Bitdeer shareholders.</font>
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            <font style="letter-spacing:-0.2pt;">Reasons for BSGA Board&#8217;s Approval of the Business Combination</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">BSGA was formed to complete a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more business entities. The BSGA Board sought to do so by using the networks and industry experience of both the Sponsor, the BSGA Board, and the BSGA management to identify and acquire one or more businesses. </font>
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            <font style="letter-spacing:0.2pt;">In evaluating the transaction with Bitdeer, the BSGA Board consulted with its legal counsel and accounting and other advisors and considered a range of factors. In particular, the BSGA Board considered, among others, the following factors, although not weighted or in any order of significance: </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Bitdeer satisfies a number of acquisition criteria that BSGA had established to evaluate prospective business combination targets.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The BSGA Board determined that Bitdeer satisfies a number of criteria and guidelines set forth during its initial public offering, including (i)&#160;unique competitive advantage in the markets and/or underexploited growth opportunities that BSGA is uniquely positioned to identify; (ii)&#160;strong management team that can create significant value; and (iii)&#160;potential to generate strong free cash flow. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Favorable prospects for future growth and financial performance</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Current information and forecast projections from BSGA and Bitdeer&#8217;s management regarding (i)&#160;Bitdeer&#8217;s business, prospects, financial condition, operations, technology, services, management, competitive position, and strategic business goals and objectives; (ii)&#160;general economic, industry, regulatory, and financial market conditions, and (iii)&#160;opportunities and competitive factors within Bitdeer&#8217;s industry. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">World&#8217;s largest scale of proprietary hash rate.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer was the world&#8217;s largest holder of proprietary hash rate for Bitcoin as of June&#160;30, 2021, according to Frost &amp; Sullivan. Its proprietary hash rate provides it with a clear edge in all of its business lines and anchors its unique business model. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Unique business model powers organic hash rate expansion.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp; Bitdeer established a business model that allows it to constantly reinforce its market-leading position and outpace our competitors in terms of scaling up our proprietary hash rate. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Ample power supply and low electricity cost secured by global mining datacenters.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer strategically opened five mining datacenters in the United States and Norway, where low electricity cost and crypto-friendly policies support stable operations. With experience in site selection, facility design, construction and maintenance in over 30 locations around the globe, Bitdeer&#8217;s dedicated global team for mining datacenter construction understands the critical needs of mining as well as the complex and constantly evolving global landscape of electricity supply. They also have extensive connections with local electricity experts and power enterprises around the world. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Visionary management team with a proven track record of innovation and execution.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer is led by a management team with extensive experience in the cryptocurrency industry, encompassing research and development, mining and sales of mining machines, and many of them are pioneers in mining datacenters construction and operation. </font>
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          <font style="letter-spacing:0.2pt;">24</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Best Available Opportunity.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The BSGA Board determined, after a thorough review of other business combination opportunities reasonably available to BSGA, that the proposed Business Combination represents the best potential business combination for BSGA based upon the process utilized to evaluate and assess other potential acquisition targets, and the BSGA Board&#8217;s belief that such processes had not presented a better alternative. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Continued Significant Ownership by Bitdeer</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The BSGA Board considered that Bitdeer&#8217;s existing equity holders would be receiving a significant amount of BTG&#8217;s ADSs in the proposed Business Combination and that Bitdeer&#8217;s principal shareholders and key executives are &#8220;rolling over&#8221; their existing equity interests of Bitdeer into equity interests in BTG. The current Bitdeer Shareholders are expected to own approximately 96.3% of the outstanding BTG Class&#160;A Ordinary Shares (including in the form of ADSs), constituting approximately 11.0% of the voting power of the BTG Ordinary Shares (including in the form of ADSs) voting together as a single class, assuming (i)&#160;none of BSGA&#8217;s public shareholders exercise their redemption rights in connection with the Business Combination and (ii)&#160;no Bitdeer&#8217;s shareholder exercises its dissenters&#8217; rights. If the actual facts are different from these assumptions, the&#160;percentage ownership retained by Bitdeer&#8217;s existing shareholders in BTG will be different. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Use of Retained Proceeds</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;As represented by Bitdeer&#8217;s management, the proceeds to be delivered to BTG in connection with the Business Combination (including funds that remain in BSGA&#8217;s trust account after taking into effect redemptions), are expected to remain on the balance sheet of BTG after Closing in order to fund Bitdeer&#8217;s existing operations and support new and existing growth initiatives. The BSGA Board considered this factor a sign of commitment by Bitdeer&#8217;s management to Bitdeer&#8217;s business following the Business Combination and their confidence in the benefits to be realized as a result of the Business Combination. </font>
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            <font style="font-style:italic;letter-spacing:0.2pt;">Likelihood of Closing the Business Combination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The BSGA Board believes that an acquisition by BSGA has a reasonable likelihood of closing without potential issues under applicable antitrust and competition laws and without potential issues from any regulatory authorities. </font>
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            <font style="letter-spacing:0.2pt;">For a more complete description of BSGA Board&#8217;s reasons for approving the Business Combination, including other factors and risks considered by the BSGA Board, see &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Reasons for BSGA Board&#8217;s Approval of the Business Combination.&#8221; </font>
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            <font style="letter-spacing:-0.2pt;">Ownership and Transaction Structure</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">The following diagrams illustrate in simplified terms the current structure of each of BSGA and Bitdeer, the steps of the proposed Business Combination, and the expected structure after the Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">25</font>
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            <font style="letter-spacing:0.2pt;">*</font>
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            <font style="letter-spacing:0.2pt;">Treated as a disregarded entity for U.S. federal income tax purposes. </font>
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          <font style="letter-spacing:0.2pt;">26</font>
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            <font style="letter-spacing:-0.2pt;">Certain Information Relating to BTG and BSGA</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:-0.2pt;">BTG Listing</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">BTG plans to apply for listing, to be effective at the time of the Closing of the Business Combination, of the BTG ADSs on Nasdaq and will obtain clearance by DTC as promptly as practicable following the issuance thereof, subject to official notice of issuance, prior to the Closing Date. </font>
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            <font style="letter-spacing:-0.2pt;">Delisting and Deregistration of BSGA</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">If the Business Combination is completed, BSGA Class&#160;A Ordinary Shares, BSGA Units and BSGA Rights shall be delisted from Nasdaq and will be deregistered under the Exchange Act. </font>
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            <font style="letter-spacing:-0.2pt;">Emerging Growth Company</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Upon consummation of the Business Combination, BTG will be an &#8220;emerging growth company&#8221; as defined in the JOBS Act. BTG will remain an &#8220;emerging growth company&#8221; until the earliest to occur of (i)&#160;the last day of the fiscal year (a)&#160;following the fifth anniversary of the closing of the Business Combination, (b)&#160;in which BTG has total annual gross revenue of at least US$1.07&#160;billion or (c)&#160;in which BTG is deemed to be a large accelerated filer, which means the market value of BTG Shares held by non-affiliates exceeds US$700&#160;million as of the last business day of BTG&#8217;s prior second fiscal quarter, BTG has been subject to Exchange Act reporting requirements for at least 12 calendar&#160;months; and filed at least one annual report, and (ii)&#160;the date on which BTG issued more than US$1.0&#160;billion in non-convertible debt during the prior three-year period. BTG intends to take advantage of exemptions from various reporting requirements that are applicable to most other public companies, whether or not they are classified as &#8220;emerging growth companies,&#8221; including, but not limited to, an exemption from the provisions of Section&#160;404(b) of the Sarbanes-Oxley Act requiring that BTG&#8217;s independent registered public accounting firm provide an attestation report on the effectiveness of its internal control over financial reporting and reduced disclosure obligations regarding executive compensation. </font>
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            <font style="letter-spacing:-0.2pt;">Foreign Private Issuer</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">As a &#8220;foreign private issuer,&#8221; BTG will be subject to different U.S. securities laws than domestic U.S. issuers. The rules governing the information that BTG must disclose differ from those governing U.S. companies pursuant to the Exchange Act. BTG will be exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements to shareholders. Those proxy statements are not expected to conform to Schedule&#160;14A of the proxy rules promulgated under the Exchange Act. </font>
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            <font style="letter-spacing:0.2pt;">In addition, as a &#8220;foreign private issuer,&#8221; BTG&#8217;s officers and directors and holders of more than 10% of the issued and outstanding BTG ADS, will be exempt from the rules under the Exchange Act requiring insiders to report purchases and sales of ordinary shares as well as from Section&#160;16 short swing profit reporting and liability. See &#8220;Risk Factors&#8201;&#8212;&#8201;Risks Related to BTG&#8201;&#8212;&#8201;BTG is a foreign private issuer within the meaning of the rules under the Exchange Act, and as such, it is exempt from certain provisions applicable to domestic public companies in the United States</font><font style="font-style:italic;letter-spacing:0.2pt;">.</font><font style="letter-spacing:0.2pt;">&#8221; </font>
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            <font style="letter-spacing:-0.2pt;">Controlled Company</font>
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            <font style="letter-spacing:0.2pt;">Upon the closing of the Business Combination, Mr.&#160;Jihan Wu will control a majority of the voting power of BTG&#8217;s outstanding ordinary shares. As a result, BTG will be a &#8220;controlled company&#8221; within the meaning of applicable Nasdaq listing rules. Under these rules, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or another company is a &#8220;controlled company.&#8221; For so long as BTG remains a &#8220;controlled company,&#8221; it may elect not to comply with certain corporate governance requirements, including the requirements: </font>
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            <font style="letter-spacing:0.2pt;">that a majority of the board of directors consists of independent directors; </font>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <font style="letter-spacing:0.2pt;">for an annual performance evaluation of the nominating and corporate governance and compensation committees; </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">27</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;margin-left:12pt;width:456pt;">
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            <font style="letter-spacing:0.2pt;">that it has a nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the committee&#8217;s purpose and responsibilities; and </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <font style="letter-spacing:0.2pt;">that it has a compensation committee that is composed entirely of independent directors with a written charter addressing the committee&#8217;s purpose and responsibility. </font>
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            <font style="letter-spacing:0.2pt;">BTG intends to use these exemptions upon the closing of the Business Combination and it may continue to use all or some of these exemptions in the future. As a result, you may not have the same protections afforded to shareholders of companies that are subject to all of the Nasdaq corporate governance requirements. </font>
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          <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Anticipated Accounting Treatment</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The Business Combination will be accounted for as a &#8220;reverse recapitalization&#8221; in accordance with IFRS. Under this method of accounting, BSGA will be treated as the &#8220;acquired&#8221; company for financial reporting purposes. This determination is primarily based on the fact that subsequent to the Business Combination, the Bitdeer&#8217;s shareholders are expected to have a majority of the voting power of BTG, Bitdeer will comprise all of the ongoing operations of combined company, Bitdeer will comprise a majority of the governing body of combined company, and Bitdeer&#8217;s senior management will comprise all of the senior management of combined company. Since BSGA does not meet the definition of a business under IFRS, the transaction is outside the scope of IFRS 3, &#8220;Business Combinations&#8221;, and it is accounted for as an equity-settled, share-based payment transaction in accordance with IFRS 2,&#8220;Share-based Payments&#8221;. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of Bitdeer issuing shares for the net assets of BSGA, accompanied by a recapitalization. The net assets of BSGA will be stated at historical costs. Any difference in the fair value of the consideration deemed to have been issued by Bitdeer and the fair value of BSGA&#8217;s identifiable net assets represents a listing service received by Bitdeer and is recorded through profit and loss. No goodwill or other intangible assets will be recorded. Operations prior to the Business Combination will be those of Bitdeer. </font>
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          <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Regulatory Matters</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The Merger Agreement and the transactions contemplated by the Merger Agreement are not subject as a closing condition to any additional federal, state or foreign regulatory requirement or approval, except for (i)the expiration or termination of applicable waiting periods (and any extension thereof) under the Hart-Scott-Rodio Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder, and (ii)&#160;filings with the registrar of the Cayman Islands and British Virgin Islands necessary to effectuate the transactions contemplated by the Merger Agreement and the respective plans of merger. </font>
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          <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Summary of Risk Factors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">In evaluating the proposals to be presented at the Extraordinary General Meeting of the shareholders of BSGA, a shareholder should carefully read this proxy statement/prospectus and especially consider the factors discussed in the section titled &#8220;Risk Factors.&#8221; </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The consummation of the Business Combination at the Closing on the Closing Date, and the business and financial condition of BTG subsequent to the Closing are subject to numerous risks and uncertainties, including those highlighted in the section title &#8220;Risk Factors.&#8221; The occurrence of one or more of the events or circumstances described below, alone or in combination with other events or circumstances, may adversely affect BSGA&#8217;s ability to effect the Business Combination, and may have an adverse effect on the business, cash flows, financial condition and results of operations of BSGA prior to the Business Combination and that of BTG subsequent to the Business Combination. These risks include, among other things, the following: </font>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The cryptocurrency industry in which Bitdeer operates is characterized by constant changes. If Bitdeer fails to continuously innovate and to provide solutions or services that meet the expectations of its customers, it may be unable to attract new customers or retain existing customers. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s results of operations have been and are expected to continue to be significantly impacted by sharp Bitcoin price fluctuation. </font>
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            <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">28</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;margin-left:12pt;width:456pt;">
          <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <font style="letter-spacing:0.2pt;">The supply of Bitcoins available for mining is limited and Bitdeer may not be able to quickly adapt to new businesses when all the Bitcoins have been mined. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Although Bitdeer has an organic way of growing its mining fleets, its business is nevertheless capital intensive. Bitdeer may need additional capital but may not be able to obtain it in a timely manner and on favorable terms or at all. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">While Bitdeer has experienced positive cash flows from operating activities, it has incurred net losses in the past and can provide no assurance of its future operating results. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer may not be able to maintain its competitive position as cryptocurrency networks experience increases in total network hash rate. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.91pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:5.91pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer has experienced and may experience in the future hash rate loss during its operations due to factors beyond its control. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer is subject to risks associated with its need for significant electric power and the limited availability of power resources, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer has identified a material weakness in its internal control over financial reporting. In the event of any failure to maintain an effective system of disclosure controls and internal control over financial reporting, BTG may not be able to accurately report its financial results or prevent fraud. As a result, ADS holders could lose confidence in BTG&#8217;s financial and other public reporting, which is likely to negatively affect BTG&#8217;s business and the market price of BTG ADSs.</font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">A market for BTG ADSs may not develop, which would adversely affect the liquidity and price of BTG ADSs. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <font style="letter-spacing:0.2pt;">The market price of BTG ADSs may be volatile. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">BTG will issue BTG Class&#160;A Ordinary Shares (in the form of ADSs), and BTG Class&#160;V Ordinary Shares convertible into BTG Class&#160;A Ordinary Shares (in the form of ADSs), as consideration for the Business Combination, and BTG may issue additional BTG Class&#160;A Ordinary Shares (in the form of ADSs) or other equity or convertible debt securities without approval of the holders of BTG Class&#160;A Ordinary Shares (in the form of ADSs), which would dilute existing ownership interests and may depress the market price of BTG Class&#160;A Ordinary Shares (in the form of ADSs). </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">BSGA will be forced to liquidate the Trust Account if it cannot consummate a business combination by the date that is 12 months from the closing of the IPO, or June 14, 2022 (subject to extensions of up to 6 months). In the event of a liquidation, BSGA&#8217;s public shareholders will receive US$10.00 per share and the BSGA Rights will expire worthless.</font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The initial shareholders who own ordinary shares and private placement units will not participate in liquidation distributions and, therefore, they may have a conflict of interest in determining whether the Business Combination is appropriate. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">BSGA Shareholders will experience immediate dilution as a consequence of the issuance of BTG Ordinary Shares as consideration in the Business Combination and from other dilution sources. Having a minority share position may reduce the influence that the non-redeeming BSGA shareholders have on the management of BTG upon Closing. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">If third parties bring claims against BSGA, the proceeds held in trust could be reduced and the per-share liquidation price received by BSGA Shareholders may be less than US$10.10.</font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">BSGA&#8217;s directors and officers may have certain conflicts in determining to recommend the acquisition of Bitdeer, since certain of their interests, and certain interests of their affiliates and associates, are different from, or in addition to, your interests as a shareholder. </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Becoming a public company through a business combination rather than an underwritten offering presents risks to unaffiliated investors of BTG. Subsequent to the completion of the Business Combination, BTG may be required to subsequently take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on its financial condition, </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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        <div style="clear:both;font-size:0pt;">&#8203;</div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
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            <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">29</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">results of operations and the price of BTG securities, which could cause BTG shareholders to lose some or all of their investment. </font>
          </div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">BTG will be required to meet the initial listing requirements to be listed on Nasdaq. However, BTG may be unable to maintain the listing of its securities in the future.</font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Any distributions received by BSGA Shareholders could be viewed as an unlawful payment if it was proved that immediately following the date on which the distribution was made, BSGA was unable to pay its debts as they fell due in the ordinary course of business. </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">If BSGA&#8217;s due diligence investigation of Bitdeer was inadequate, then shareholders of BSGA following the Business Combination could lose some or all of their investment. </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">In the event that a significant number of Public Shares are redeemed, BSGA Ordinary Shares may become less liquid following the Business Combination. </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The other risks and uncertainties discussed in &#8220;Risk Factors&#8221; elsewhere in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus. </font></div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        </div>
        <div style="clear:both;font-size:0pt;">&#8203;</div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">30</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tSHFI">&#8203;</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;margin-bottom:25pt; margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;">
            <font style="font-weight:bold;letter-spacing:-0.2pt;">SELECTED HISTORICAL FINANCIAL INFORMATION OF BSGA</font><font style="letter-spacing:0.2pt;"> </font>
            <br >
            <font style="letter-spacing:0.2pt;">(Amounts in tables are stated in U.S. Dollar) </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The following table sets forth selected historical financial information derived from BSGA&#8217;s audited condensed financial statements as of December&#160;31, 2021 and for the period from February 23, 2021 (inception) to December&#160;31, 2021, as well as the unaudited condensed financial statements as of March 31, 2022 and for the three months ended March&#160;31, 2022 which are included elsewhere in this proxy statement/prospectus.</font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The historical results presented below are not necessarily indicative of the results to be expected for any future period. You should carefully read the following selected financial information in conjunction with the section entitled &#8220;BSGA Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and BSGA&#8217;s financial statements and the related notes appearing elsewhere in this proxy statement/prospectus. </font>
          </div>

            <table style="width:456pt;height:291.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:236.97pt;text-align:left;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
                  <div style="text-align:center;">
                    <font style="letter-spacing:-0.16pt;">For the Three</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">Months Ended</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">March&#160;31, 2022 </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
                  <div style="text-align:center;">
                    <font style="letter-spacing:-0.16pt;">For the Period from</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">February&#160;23, 2021</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">(Inception) to</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">March&#160;31, 2021 </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
                  <div style="text-align:center;">
                    <font style="letter-spacing:-0.16pt;">For the Period from</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">February&#160;23, 2021</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">(Inception) to</font>
                    <br >
                    <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:236.97pt;text-align:left;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                  <div style="white-space:nowrap; text-align:center;">
                    <font style="letter-spacing:-0.16pt;">(Unaudited) </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="6">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 1.5pt 0pt; width:236.97pt;text-align:left;">
                  <font style="letter-spacing:-0.2pt;">Income Statements Data:</font>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:236.97pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Formation and operating costs </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(2,082,838<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">(1,241,824<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:236.97pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Other income </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">5,848</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">2,104</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 3.25pt 0pt; width:236.97pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Net loss </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(2,076,990<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(1,239,720<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:1.417pt 0pt 2.583pt 0pt; width:236.97pt;white-space:normal;text-align:left;">
                  <div style="margin-left:10pt; text-indent:-10pt;">
                    <font style="letter-spacing:0.2pt;">Weighted average number of redeemable ordinary shares outstanding </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">5,750,000</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">3,704,327</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:1.417pt 0pt 2.583pt 0pt; width:236.97pt;white-space:normal;text-align:left;">
                  <div style="margin-left:10pt; text-indent:-10pt;">
                    <font style="letter-spacing:0.2pt;">Net loss per redeemable ordinary share: basic and diluted </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(0.28<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:1.417pt 0pt 2.583pt 0pt; width:236.97pt;white-space:normal;text-align:left;">
                  <div style="margin-left:10pt; text-indent:-10pt;">
                    <font style="letter-spacing:0.2pt;">Weighted average number of non-redeemable ordinary shares outstanding </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">1,787,500</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">1,250,000</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">1,621,514</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:1.417pt 0pt 2.583pt 0pt; width:236.97pt;white-space:normal;text-align:left;">
                  <div style="margin-left:10pt; text-indent:-10pt;">
                    <font style="letter-spacing:0.2pt;">Net loss per non-redeemable ordinary share: basic and diluted </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(0.28<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">(0.01<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:2.75pt 0pt 1.5pt 0pt; width:236.97pt;text-align:left;">
                  <font style="letter-spacing:-0.2pt;">Cash Flows Data:</font>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 3.25pt 0pt; width:236.97pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Net cash used in operating activities </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(132,656<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(398,627<font style="position:absolute;">) </font></td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:2.75pt 0pt 3.25pt 0pt; width:236.97pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Net cash used in investing activities </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(58,075,000<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:2.75pt 0pt 3.25pt 0pt; width:236.97pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Net cash provided by financing activities </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:1.88pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:9.925pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">58,887,044</td>
                <td style="padding:0pt;padding-left:5.76pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
            </table>

          <table style="width:456pt;height:157.5pt;margin-top:15pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">As of</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">March&#160;31, 2022 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">As of</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">(Unaudited) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:19pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:302pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Balance Sheets Data:</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cash and cash equivalents </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">280,761</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">413,417</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Other current assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">68,264</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">157,553</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cash held in Trust Account </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,082,952</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,077,104</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,431,977</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,648,074</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total liabilities </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">4,978,629</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">3,117,736</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Class&#160;A Ordinary shares subject to possible redemption </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,082,952</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,075,000</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total shareholders&#8217; deficit </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(4,629,604<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(2,544,662<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>
          <div style="margin-left:10pt; margin-top:5pt; text-align:center; width:446pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;"> </font>
          </div>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">31</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tSHFI1">&#8203;</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">SELECTED HISTORICAL FINANCIAL INFORMATION OF BITDEER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The following tables present Bitdeer&#8217;s selected financial and other data. The combined and consolidated statements of operations and comprehensive income/(loss) and cash flows for the&#160;years ended December&#160;31, 2019, 2020 and 2021 and the combined and consolidated statements of financial position as of December&#160;31, 2020 and 2021 have been derived from Bitdeer&#8217;s audited combined and consolidated financial statements included elsewhere in this proxy statement/prospectus, which have been restated as discussed in Note 2(a) thereof. </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The financial data set forth below should be read in conjunction with, and is qualified by reference to, &#8220;Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and the audited financial statements and notes thereto included elsewhere in this proxy statement/prospectus. Bitdeer&#8217;s combined and consolidated financial statements as of December 31, 2020 and 2021 and for each of the three years in the period ended December 31, 2021 are prepared and presented in accordance with IFRS as issued by the IASB. The historical results included below and elsewhere in this proxy statement/prospectus are not indicative of the future performance of Bitdeer following the Business Combination. All amounts are in U.S. Dollars. Certain amounts that appear in this section may not sum due to rounding. </font>
          </div>
          <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME / (LOSS)</font>
            <br >
            <font style="font-weight:normal;letter-spacing:0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar) </font>
          </div>
          <table style="width:456pt;height:340.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:260pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Years Ended December&#160;31, </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:260pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2019 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2020 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2021 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:260pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">(Restated) </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">(Restated) </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Revenue</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">88,771</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">186,387</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">394,661</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cost of revenue </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">(98,839<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(209,564<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Gross profit / (loss)</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(10,068<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(23,177<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">241,406</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Selling expenses </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(3,137<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(5,567<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">General and administrative expenses </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(7,550<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(20,268<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(89,735<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Research and development expenses </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(4,746<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(9,790<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Other operating income / (expenses) </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(6,027<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(2,045<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">14,625</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Other net gain / (loss) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">230</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(2,560<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">2,483</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Profit / (loss) from operations</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(31,298<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(63,407<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">130,830</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Finance income / (expenses) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">468</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(380<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">59</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Profit / (loss) before taxation</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(30,830<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(63,787<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">130,889</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Income tax benefit / (expenses) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">2,930</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">7,961</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(48,246<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Profit / (loss) for the year</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">82,643</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Other comprehensive income / (loss)</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Profit / (loss) for the year </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">82,643</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Other comprehensive income / (loss) for the year</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:italic;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:260pt;text-align:left;">
                <font style="letter-spacing:0.2pt;">Item that may be reclassified to profit or loss</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">&#8211; Exchange differences on translation of financial statements </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">(690<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">905</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Other comprehensive income / (loss) for the year, net of tax</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">(690<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">905</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:260pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Total comprehensive income / (loss) for the year</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">(28,590<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(54,921<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">82,448</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">32</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;">
            <font style="font-weight:bold;letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</font>
            <br >
            <font style="letter-spacing:0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar) </font>
          </div>
          <table style="width:468pt;height:479.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:328pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">As of December&#160;31, </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:328pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2020</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2021 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Assets</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cash and cash equivalents </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">44,753</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">372,088</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cryptocurrencies </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">9,582</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">6,187</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Trade receivables </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">419</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">8,238</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Amounts due from related parties </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">611,029</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,500</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Mining machines </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">64,800</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">46,469</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Prepayments and other assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">14,876</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">35,887</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Restricted cash </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">7,339</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">10,310</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Right-of-use assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">18,168</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">58,941</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">52,158</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">102,617</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Intangible assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">76</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">115</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Deferred tax assets </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">30,102</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">4,622</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Total Assets</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">853,302</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">646,974</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Liabilities</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Trade payables </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">3,062</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">17,740</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Other payables and accruals </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">6,953</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">17,258</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Amounts due to related parties </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">662,948</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">19</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Income tax payables </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">56</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">10,454</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Deferred revenue </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">11,552</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">213,449</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Borrowings </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">877</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">29,460</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Lease liabilities </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">21,950</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">62,968</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Deferred tax liabilities.</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">7,547</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Total Liabilities</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">707,398</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">358,895</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Net Assets</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">288,079</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Equity</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Invested capital </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Share capital </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Retained earnings </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">67,169</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Reserves </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">220,909</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:328pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.2pt;">Total Equity </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">288,079</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td colspan="3">&#8203;</td>
            </tr>
          </table>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">33</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;">
            <font style="font-weight:bold;letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS</font>
            <br >
            <font style="letter-spacing:0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar) </font>
          </div>
          <table style="width:456pt;height:161.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;text-align:center;" colspan="16">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">For the Years Ended</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:264pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2019 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2020 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">2021 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">(Restated) </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">(Restated) </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:16pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:264pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Net cash generated from operating activities </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">31,790</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">63,887</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">454,656</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:264pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Net cash used in investing activities </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(263,029<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(110,321<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(112,553<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:264pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Net cash generated from / (used in) financing activities </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">226,412</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">30,776</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(14,426<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:264pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Net (decrease) / increase in cash and cash equivalents </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(4,827<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(15,658<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">327,677</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:264pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cash and cash equivalents at the beginning of the year </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">65,286</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">59,826</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">44,753</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.833pt 0pt; width:264pt;white-space:normal;text-align:left;">
                <div style="margin-left:10pt; text-indent:-10pt;">
                  <font style="letter-spacing:0.2pt;">Effect of movements in exchange rates on cash and cash equivalents held </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(633<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">585</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(342<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.833pt 0pt; width:264pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Cash and cash equivalents at the end of the year </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">59,826</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">44,753</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.96pt;width:0pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">372,088</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">34</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tSUPF">&#8203;</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;margin-bottom:8pt; margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">SELECTED UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The following summary unaudited pro&#160;forma combined financial data (the &#8220;summary pro&#160;forma data&#8221;) gives effect to the Business Combination. </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The summary pro forma data have been derived from, and should be read in conjunction with, the unaudited pro forma combined financial information of BTG appearing elsewhere in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus and the accompanying notes. The unaudited pro forma combined financial information is based upon, and should be read in conjunction with, the historical financial statements of BSGA and combined and consolidated financial statements of Bitdeer and related notes included in this proxy statement/prospectus.&#160;The summary pro&#160;forma data have been presented for informational purposes only and are not necessarily indicative of what BTG&#8217;s financial position or results of operations actually would have been had the Business Combination been completed as of the dates indicated. In addition, the summary pro&#160;forma data do not purport to project the future financial position or operating results of BTG. </font></div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma combined financial information included in this proxy statement/prospectus has been prepared using the assumptions below with respect to the potential redemption into cash of BSGA&#8217;s Class&#160;A Ordinary Shares: </font>
          </div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="font-weight:bold;letter-spacing:-0.2pt;">Scenario 1</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Assuming No Redemptions:</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;This presentation assumes that no Public Shareholders exercise Redemption Rights with respect to their BSGA Class&#160;A Ordinary Shares for a pro&#160;rata share of the funds in BSGA&#8217;s Trust Account. </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="font-weight:bold;letter-spacing:-0.2pt;">Scenario 2</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Assuming Maximum Redemptions:</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;This presentation assumes that BSGA&#8217;s Public Shareholders exercise their Redemption Rights with respect to a maximum of 5.75 million BSGA Class&#160;A Ordinary Shares upon consummation of the Business Combination at a redemption price of approximately US$10.10 per share. Scenario 2 includes all adjustments contained in Scenario 1 and presents additional adjustments to reflect the effect of the maximum redemptions.</font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The historical financial information has been adjusted to give effect to the expected events that are related and/or directly attributable to the transactions and are factually supportable. The adjustments presented in the selected unaudited pro forma condensed combined financial statements have been identified and presented to provide relevant information necessary for an accurate understanding of BTG upon consummation of the transactions.</font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The historical financial statements of Bitdeer have been prepared in accordance with IFRS and in its presentation currency of the U.S. dollar. The historical financial statements of BSGA have been prepared in accordance with U.S. GAAP in its presentation currency of the U.S. dollar. The condensed combined pro forma financial information reflects IFRS, the basis of accounting used by BTG, and no material accounting policy difference is identified in converting BSGA&#8217;s historical financial statements to IFRS except the adjustment to reclassify BSGA&#8217;s ordinary shares subject to redemption to other liabilities under IFRS. The adjustments presented in the selected unaudited pro forma condensed combined financial information have been identified and presented to provide relevant information necessary for an accurate understanding of BTG after giving effect to the Business Combination. Bitdeer and BSGA did not have any historical relationship prior to the Business Combinations. Accordingly, no pro forma adjustments were required to eliminate activities between the companies.</font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">This information should be read together with Bitdeer&#8217;s and BSGA&#8217;s financial statements and related notes, &#8220;Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations,&#8221; &#8220;BSGA&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and other financial information included elsewhere in this proxy statement/prospectus.</font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The selected unaudited pro forma condensed combined financial information is presented for illustrative purposes only. Such information is only a summary and should be read in conjunction with the section titled &#8220;Unaudited Pro Forma Combined Financial Information.&#8221; The financial results may have been different had the companies always been combined. You should not rely on the selected unaudited pro forma condensed combined financial information as being indicative of the historical results that would have been achieved had the companies always been combined or the future results that BTG will experience. </font>
          </div>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">35</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style="width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Combined Statement of Operations</font>
          </div>

            <table style="width:468pt;height:361.7pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9pt;">
              <tr style="line-height:10.1pt;height:56.36pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:182pt;text-align:left;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.288pt 0pt;" colspan="4" rowspan="2">
                  <div style="text-align:center; line-height:10.11pt; padding-bottom:0.366666666666667pt;">
                    <font style="letter-spacing:-0.18pt;">Bitdeer </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">(Historical </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">for the </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">Year Ended </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">December&#160;31, </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">2021) </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.288pt 0pt;" colspan="4" rowspan="2">
                  <div style="text-align:center; line-height:10.11pt; padding-bottom:0.366666666666667pt;">
                    <font style="letter-spacing:-0.18pt;">BSGA </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">(Historical </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">for the </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">period from </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">February&#160;23, </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">2021 </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">(inception) </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">through </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">December&#160;31, </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">2021) </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.288pt 0pt; width:0pt;" colspan="10">
                  <div style="text-align:center;">
                    <font style="letter-spacing:-0.18pt;">Pro Forma Combined </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">For the Year Ended </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">December&#160;31, 2021 </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10.1pt;height:45.09pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9pt;">
                <td style="border-bottom:1px solid #000000;padding:2.527pt 0pt 2.288pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:-0.18pt;">(In thousand of USD, except per share amounts) </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:2.527pt 0pt 2.288pt 0pt;" colspan="4">
                  <div style="text-align:center;">
                    <font style="letter-spacing:-0.18pt;">Scenario 1</font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">Assuming </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">No </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">Redemptions </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="border-bottom:1px solid #000000;padding:2.527pt 0pt 2.288pt 0pt;" colspan="4">
                  <div style="text-align:center;">
                    <font style="letter-spacing:-0.18pt;">Scenario 2</font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">Assuming </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">Maximum </font>
                    <br >
                    <font style="letter-spacing:-0.18pt;">Redemptions </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Revenue </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">394,661</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">394,661</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">394,661</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Cost of revenue </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8199;&#8199;(153,255<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Gross profit </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">241,406</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">241,406</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">241,406</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Formation, and operating costs </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,242<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Selling expenses </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Recapitalization transaction expenses </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(31,039<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(31,154<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">General and administrative expenses </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(89,735<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(90,977<font style="position:absolute;">) </font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(90,977<font style="position:absolute;">) </font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Research and development expenses </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.5pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Other operating income </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">14,625</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">14,625</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">14,625</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Other net gain </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">2,483</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">2,483</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">2,483</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Profit / (loss) from operations </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">130,830</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,242<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">98,549 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">98,434 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Finance income </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">59</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">2</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">61</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">61</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 1.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Profit / (loss) before taxation </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">130,889</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,240<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">98,610 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">98,495 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Income tax expenses </font>
                  </div>
                </td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(48,246<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(36,805<font style="position:absolute;">) </font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(36,763<font style="position:absolute;">) </font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
                <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:3.25pt 0pt 3.25pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Profit / (loss) for the year </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">82,643</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,240<font style="position:absolute;">)</font></td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;"> 61,805 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;"> 61,732 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:2.75pt 0pt 3.25pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Basic pro&#160;forma earnings per share </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">0.16 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">0.16 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td colspan="3">&#8203;</td>
                <td colspan="3">&#8203;</td>
              </tr>
              <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
                <td style="padding:2.75pt 0pt 3.25pt 0pt; width:182pt;text-align:left;">
                  <div style="white-space:nowrap;">
                    <font style="letter-spacing:0.2pt;">Diluted pro&#160;forma earnings per share </font>
                  </div>
                </td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:19.96pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
                <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">0.15 </td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt;padding-left:13.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
                <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">0.16</td>
                <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt; width:6pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.75pt 0pt; width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
                <td style="padding:0pt 0pt 0.75pt 0pt; width:0pt;">&#8203;</td>
                <td style="padding:0pt; width:0pt;">&#8203;</td>
              </tr>
            </table>

          <div style="margin-top:13pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Combined Statement of Financial Position </font>
          </div>
          <table style="width:456pt;height:124pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:9pt;height:18.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:184pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4" rowspan="2">
                <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;">
                  <font style="letter-spacing:-0.16pt;">Bitdeer </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">(Historical </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">as of </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">2021)</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4" rowspan="2">
                <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;">
                  <font style="letter-spacing:-0.16pt;">BSGA </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">(Historical </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">as of </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">2021)</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;" rowspan="2">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">As of December&#160;31, 2021 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;height:40.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:184pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.16pt;">(In thousand of USD)</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Scenario 1 </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Assuming </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">No </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Redemptions </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Scenario 2 </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Assuming </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Maximum </font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Redemptions </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 3.25pt 0pt; width:184pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">646,974</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:23.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">58,648</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">688,709</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">630,634</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:184pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total liabilities </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">358,895</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:23.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">3,118</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">359,200</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">359,200</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:184pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Net assets </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">288,079</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:23.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">55,530</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">329,509</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">271,434</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.75pt 0pt 3.25pt 0pt; width:184pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total temporary equity and equity </font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">288,079</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:23.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">55,530</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">329,509</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:18.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">271,434</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>
          <div style="margin-left:10pt; margin-top:5pt; text-align:center; width:446pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;"> </font>
          </div>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
          </div>
        </div>
      </div>
      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">36</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tFOST">&#8203;</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">FORWARD-LOOKING STATEMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">This proxy statement/prospectus includes statements that express BSGA&#8217;s, BTG&#8217;s and Bitdeer&#8217;s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition and therefore are, or may be deemed to be, &#8220;forward-looking statements.&#8221; These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;seeks,&#8221; &#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;may,&#8221; &#8220;will&#8221; or &#8220;should&#8221; or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this proxy statement/prospectus and include statements regarding BSGA&#8217;s, BTG&#8217;s and Bitdeer&#8217;s intentions, beliefs or current expectations concerning, among other things, the Business Combination, the benefits and synergies of the Business Combination, including anticipated cost savings, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, the markets in which Bitdeer operates, including, among other things, bitcoin prices, bitcoin network hash rate, general business, economic, regulatory, market and financial conditions and other future events, as well as matters specific to Bitdeer&#8217;s business and any information concerning possible or assumed future results of operations of BTG after the consummation of the Business Combination at the Closing on the Closing Date. You should read statements that contain these words carefully because they: </font>
          </div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">discuss future expectations; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">contain projections of future results of operations or financial condition; or </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">state other &#8220;forward-looking&#8221; information. </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">Such forward-looking statements are based on available current market material and management&#8217;s expectations, beliefs and forecasts concerning future events impacting BSGA, Bitdeer and BTG. Factors that may impact such forward-looking statements include: </font>
          </div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Price and volatility of Bitcoin and other cryptocurrencies; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>

            <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">&#8226;</font>
              <br >
            </div>
            <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
              <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to maintain its competitive positions in proprietary hash rate; </font>
            </div>
            <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>

          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to procure mining machines at a lower cost; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to expand its mining datacenters; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to control electricity cost; </font>
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          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to make effective judgments regarding pricing strategy and resource allocation; </font>
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          <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to upgrade and expand offerings; </font>
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          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">Regulatory changes or actions may restrict the use of cryptocurrencies or the operation of cryptocurrency networks in a manner that may require Bitdeer or BTG to cease certain or all operations.</font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to implement measures to address the material weakness that has been identified;</font>
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          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The COVID-19 pandemic&#8217;s adverse impact on Bitdeer&#8217;s business, financial condition and results of operations; </font>
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          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The risks to Bitdeer&#8217;s business of earthquakes, fires, floods, and other natural catastrophic events and interruptions by man-made issues such as strikes and terrorist attacks; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <font style="letter-spacing:0.2pt;">The failure to satisfy any condition to the Business Combination, that could give rise to the termination of the Merger Agreement; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The risks that the Business Combination&#8217;s benefits do not meet the expectations of investors or securities analysts; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The volatility of the market price of BTG ADSs, which could cause the value of your investment to decline; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">The risk that an active trading market for BTG ADSs may never develop or be sustained; </font>
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        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">37</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
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      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
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          <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The number and percentage of BSGA Shareholders voting against the Business Combination Proposal, the Initial Merger Proposal and/or seeking redemption;</font>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">The occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; </font>
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            <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
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            <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
              <font style="letter-spacing:0.2pt;">BTG&#8217;s ability to utilize the &#8220;controlled company&#8221; exemption under the Nasdaq rules; </font>
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            <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
              <font style="letter-spacing:0.2pt;">BTG&#8217;s ability to initially list, and once listed, maintain the listing of its securities on Nasdaq following the Business Combination; and </font>
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            <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">&#8226;</font>
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            <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
              <font style="letter-spacing:0.2pt;">Other matters described in &#8220;Risk Factors.&#8221; </font>
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            <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>

          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The forward-looking statements contained in this proxy statement/prospectus are based on BSGA&#8217;s, BTG&#8217;s and Bitdeer&#8217;s current expectations and beliefs concerning future developments and their potential effects on the Business Combination and BTG. There can be no assurance that future developments affecting BSGA, BTG and/or Bitdeer will be those that BSGA, BTG or Bitdeer has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond either BSGA&#8217;s, BTG&#8217;s or Bitdeer&#8217;s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading &#8220;Risk Factors.&#8221; Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. BSGA, BTG and Bitdeer will not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Before a shareholder grants its proxy, instructs how its vote should be cast or votes on the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal, and the Adjournment Proposal, in each case, if presented to the Extraordinary General Meeting, it should be aware that the occurrence of the events described in the &#8220;Risk Factors&#8221; section and elsewhere in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus may adversely affect BSGA, BTG and/or Bitdeer.</font></div>
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        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">38</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tRIFA">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:-0.2pt;">RISK FACTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">You should carefully consider the following risk factors, together with all of the other information included in this proxy statement/prospectus, before you decide whether to vote or instruct your vote to be cast to approve the proposals described in this proxy statement/prospectus. Certain of the following risk factors apply to the business and operations of Bitdeer and will also apply to the business and operations of BTG following the completion of the Business Combination. The occurrence of one or more of the events or circumstances described in these risk factors, alone or in combination with other events or circumstances, may adversely affect the ability to complete or realize the anticipated benefits of the Business Combination, and may have a material adverse effect on the business, financial condition, results of operations, prospects and trading price of BTG&#8217;s securities following the Business Combination. The risks discussed below may not prove to be exhaustive and are based on certain assumptions made by BTG, BSGA and Bitdeer, which later may prove to be incorrect or incomplete. BTG, BSGA and Bitdeer may face additional risks and uncertainties that are not presently known to them, or that are currently deemed immaterial, but which may also ultimately have an adverse effect on any such party. Certain of the following risk factors are focused on Bitcoin which is the most significant type of cryptocurrency involved in Bitdeer&#8217;s business operations. Such risk factors, however, are not limited to Bitcoin and may also apply to other types of cryptocurrencies.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Risks Related to Bitdeer</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Risks Related to Bitdeer&#8217;s Business, Operations, Industry and Financial Condition</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The cryptocurrency industry in which Bitdeer operates is characterized by constant changes. If Bitdeer fails to continuously innovate and to provide solutions or services that meet the expectations of its customers, Bitdeer may not be able to attract new customers or retain existing customers, and hence its business and results of operations may be adversely affected.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The cryptocurrency industry in which Bitdeer operates is characterized by constant changes, including rapid technological evolution, continual shifts in customer demands, frequent introductions of new products and solutions and constant emergence of new industry standards and practices. Thus, Bitdeer&#8217;s success will depend, in part, on its ability to respond to these changes in a cost-effective and timely manner. Advances in Bitcoin mining-related technology have led to increased demand for higher speed and power efficiency for solving computational problems of increasing complexity. Bitdeer needs to invest significant resources in research and development in order to keep its services competitive in the market. Also, if Bitdeer is unable to generate enough revenue or raise sufficient capital to make adequate research and development investments going forward, Bitdeer&#8217;s service improvement and relevant research and development initiatives may be restricted or delayed, or Bitdeer may not be able to keep pace with the latest market trends and satisfy its customers&#8217; needs, which could materially and adversely affect its results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Furthermore, research and development activities are inherently uncertain, and Bitdeer might encounter practical difficulties in commercializing its research and development results, which could result in excessive research and development expenses or delays. Given the fast pace with which blockchain technologies have been and will continue to be developed, Bitdeer may not be able to timely upgrade its technologies in an efficient and cost-effective manner, or at all. In addition, new developments relating to computing power (e.g., quantum computer), computing energy consumption, blockchain and cryptocurrency could render Bitdeer&#8217;s services obsolete or unattractive. If Bitdeer is unable to keep up with the technological developments and anticipate market trends, or if new technologies render its technologies or solutions obsolete, customers may no longer be attracted to its services. As a result, Bitdeer&#8217;s business, results of operations and financial condition would be materially and adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s results of operations have been and are expected to continue to be significantly impacted by Bitcoin price fluctuation.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We derive, and expect to continue to derive, a significant portion of revenue from proprietary mining of cryptocurrency, primarily Bitcoin. Hence, our ability to generate revenue from this business line is directly affected by the market price of Bitcoin. We also generate a large percentage of revenue from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">39</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:0.2pt;">which offers hash rate to be utilized by third-party miners. As a result, revenue from this business line is also correlated with Bitcoin price and volatility. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The appreciation potential of Bitcoin is high due to several factors. Bitcoins are inherently scarce, given they are designed to have a finite supply of 21&#160;million associated with a depreciating rewarding mechanism, termed &#8220;halving,&#8221; under which the reward for Bitcoin mining is reduced in half every four&#160;years. See &#8220;&#8212; The &#8220;halving&#8221; of rewards available on the Bitcoin network, or the reduction of rewards on other networks, has had and in the future could have a negative impact on Bitdeer&#8217;s ability to generate revenue as its customers may not have an adequate incentive to continue transaction processing and customers may cease transaction processing operations altogether, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations&#8221; for more details. The growing recognition of Bitcoin also attracts large investment into the Bitcoin economy, as evidenced by an increasing installed network hash rate of Bitcoin globally, and increasing adoption of Bitcoin as an investment instrument and a payment method. Further, more countries are establishing clear and robust regulations to create a stable environment for Bitcoin mining and trading, which may facilitate the demand for Bitcoins and Bitcoin price appreciation. The Bitcoin price has soared by 236% from the last peak at US$20,089 on December 17, 2017 to US$67,562 on November 9, 2021, according to Frost &amp; Sullivan.</font>
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          <font style="letter-spacing:0.2pt;">There are a number of other factors that contribute to changes in Bitcoin price and volatility, including, but not limited to, Bitcoin market sentiment, macroeconomic factors, utility of Bitcoin, and idiosyncratic events such as exchange outages or social media, some of which are beyond Bitdeer&#8217;s control. For example, decentralization, or the lack of control by a central authority, is a key reason that cryptocurrencies like Bitcoin have attracted many committed users. However, the decentralized nature of Bitcoin is subject to growing discussion and suspicion. Some claim that most of the actual services and businesses built within the Bitcoin ecosystem are in fact centralized since they are run by specific people, in specific locations, with specific computer systems, and that they are susceptible to specific regulations. Individuals, companies or groups, as well as Bitcoin exchanges that own vast amounts of Bitcoins, can affect the market price of Bitcoin. Furthermore, mining equipment production and mining pool locations are becoming centralized. Some argue that the decentralized nature of cryptocurrencies is a fundamental flaw rather than a strength. The suspicion about the decentralized nature of Bitcoin may cause the market to lose confidence in the prospect of the Bitcoin industry, which would adversely affect Bitcoin price. This in turn could adversely affect the market demand for Bitdeer&#8217;s services and business. Any future significant reductions in the price of Bitcoin will likely have a material and adverse effect on Bitdeer&#8217;s results of operations and financial condition. There is no assurance that the Bitcoin price will remain high enough to sustain the demand for Bitdeer&#8217;s hash rate sharing and hosting services or that the Bitcoin price will not decline significantly in the future. Furthermore, fluctuations in the Bitcoin price can have an immediate impact on the trading price of BTG ADSs after the consummation of the Business Combination, even before its effect, if any, is reflected in Bitdeer&#8217;s financial performance. If the Bitcoin price drops, the expected economic return of Bitcoin mining activities will diminish, thereby resulting in a decrease in demand for Bitcoin-related services of Bitdeer, and in value appreciation from Bitdeer&#8217;s proprietary mining activities. As a result, Bitdeer may need to reduce the price of its cloud hash rate and hosting services. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The supply of Bitcoins available for mining is limited and Bitdeer may not be able to quickly adapt to new businesses when all the Bitcoins have been mined.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitcoins are inherently scarce, given they are designed to have a finite supply of 21&#160;million associated with &#8220;halving&#8221; mechanism. More than 18.9&#160;million Bitcoins had already been mined as of December 31, 2021, according to Frost &amp; Sullivan. The number of blocks that can be solved in a year is designed to be fixed, and the number of Bitcoins awarded for solving a block in the blockchain halves approximately every four&#160;years until the estimated complete depletion of Bitcoin available for mining by around 2140. When the Bitcoin network was first launched, the reward for validating a new block was 50 Bitcoins. In November&#160;2012, the reward for validating a new block was reduced to 25 Bitcoins. In July&#160;2016, the reward for validating a new block was reduced to 12.5 Bitcoins, and in May&#160;2020, the reward was further reduced to 6.25 Bitcoins. The next halving for Bitcoin is expected in 2024 at block 840,000, when the reward will reduce to 3.125 Bitcoins. While the remaining Bitcoins are not designed to be entirely depleted in the near future, a decrease in the reward for solving a block or an increase in the transaction fees may result in a decrease in incentives for miners to continue their mining activities and the loss of Bitcoin&#8217;s dominant position among the </font>
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          <font style="letter-spacing:0.2pt;">cryptocurrencies, thereby reducing the demand for Bitcoin mining related services of Bitdeer. As of the date of this proxy statement/prospectus, the largest portion of Bitdeer&#8217;s revenue was generated from its proprietary mining business and hash rate sales through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, which are associated with Bitcoin mining. Bitdeer may not be able to quickly adapt to new businesses or expand to other cryptocurrencies when all the Bitcoins have been discovered or Bitcoin is replaced by other cryptocurrencies as the mainstream cryptocurrency, which will result in a significant negative impact on Bitdeer&#8217;s business and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Although Bitdeer has an organic way of growing its mining fleets, its business is nevertheless capital intensive. It may need additional capital but may not be able to obtain it in a timely manner and on favorable terms or at all. </font>
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          <font style="letter-spacing:0.2pt;">The costs of constructing, developing, operating and maintaining cryptocurrency mining and hosting facilities, and owning and operating a large fleet of the latest generation mining equipment are substantial. Bitdeer&#8217;s operations may require additional capital or financing from time to time in order to achieve further growth. Bitdeer may require additional cash resources due to the future growth and development of its business. Bitdeer&#8217;s future capital requirements may be substantial as Bitdeer seeks to expand its operations, diversify its product offering, and pursue acquisitions and equity investments. If Bitdeer&#8217;s cash resources are insufficient to satisfy its cash requirements, Bitdeer may seek to issue additional equity or debt securities or obtain new or expanded credit facilities or enter into additional factoring arrangements. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to obtain external financing in the future may be subject to a variety of uncertainties, including its future financial condition, results of operations, cash flows and the liquidity of international capital and lending markets. While Bitdeer faces less working capital constraints as it expands its hash rate sharing business, which generates quicker cash payback, the proprietary mining business is nevertheless capital intensive. Bitdeer may need additional capital if Bitcoin price increases as it will likely push up prices for supplies required for its proprietary mining business. Any indebtedness that Bitdeer may incur in the future may also contain operating and financial covenants that could further restrict its operations. There can be no assurance that financing will be available in a timely manner or in amounts or on terms acceptable to Bitdeer, or at all. A large amount of bank borrowings and other debt may result in a significant increase in interest expense while at the same time exposing Bitdeer to increased interest rate risks. Equity financings could result in dilution to Bitdeer&#8217;s shareholders, and the securities issued in future financings may have rights, preferences and privileges that are senior to those of Bitdeer&#8217;s ordinary shares. Any failure to raise needed funds on terms favorable to Bitdeer, or at all, could severely restrict its liquidity as well as have a material adverse effect on its business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may not be able to maintain its competitive position as cryptocurrency networks experience increases in the total network hash rate.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As the relative market price of a cryptocurrency, such as Bitcoin, increases, more companies are encouraged to mine for that cryptocurrency and as more mining machines are added to the network, its total hash rate increases. In order for Bitdeer to maintain its competitive position under such circumstances, Bitdeer must increase its total hash rate by acquiring and deploying more mining machines, including new mining machines with higher hash rates. There are currently only a few companies capable of producing a sufficient number of machines with adequate quality to address the increased demand. If Bitdeer is not able to acquire and deploy additional mining machines on a timely basis, its proportion of the overall network hash rate will decrease and Bitdeer will have a lower chance of solving new blocks which will have an adverse effect on Bitdeer&#8217;s business and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">While Bitdeer has experienced positive cash flows from operating activities, it has incurred net losses in the past and can provide no assurance of its future operating results.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer had positive cash flows from operating activities in the amount of US$31.8&#160;million, US$63.9&#160;million and US$454.7&#160;million for the&#160;years ended December&#160;31, 2019, 2020 and 2021, respectively. Bitdeer incurred a net loss of US$27.9&#160;million and US$55.8&#160;million for the&#160;years ended December&#160;31, 2019 and 2020, respectively, and generated a net profit of US$82.6&#160;million for the year ended December&#160;31, 2021. However, there is no assurance that Bitdeer will be able to continue to generate positive cash flow from operating activities or remain profitable in the future. Bitdeer will need to generate and sustain increased </font>
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          <font style="letter-spacing:0.2pt;">revenue and net income levels in future periods in order to increase profitability, and, even if Bitdeer does, Bitdeer may not be able to maintain or increase its level of profitability over the long term. Bitdeer&#8217;s ability to achieve profitability and positive cash flow from operating activities will depend on a mix of factors, some of which are beyond its control, including the price of Bitcoin, Bitdeer&#8217;s ability to operate and expand its business and manage its services mix, and Bitdeer&#8217;s ability to secure favorable commercial terms from suppliers. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s limited operating history and rapid revenue growth may make it difficult for Bitdeer to forecast its business and assess the seasonality and volatility in its business.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer has achieved rapid growth since its inception. For the&#160;years ended December&#160;31, 2019, 2020 and 2021, Bitdeer&#8217;s total revenue amounted to US$88.8 million, US$186.4&#160;million and US$394.7&#160;million, respectively. However, there is no assurance that Bitdeer will be able to maintain its historical growth rates in future periods. Bitdeer&#8217;s growth rates may decline for any number of possible reasons, including decreasing market price of cryptocurrencies, increasing competition, declining growth of the cryptocurrency industry, unforeseeable technology innovation, emergence of alternative mainstream cryptocurrencies, or changes in government policies, regulations or general economic conditions. It is also difficult to forecast seasonality and volatility in Bitdeer&#8217;s business, and as a result accurately allocating resources including hash rate, mining farm capacity, or human capital to different business lines to achieve the best results in the medium or long term. If Bitdeer&#8217;s growth rates decline, investors&#8217; perceptions of Bitdeer&#8217;s business and business prospects may be adversely affected and the market price of its ordinary shares could decline. In addition, given the volatile nature of cryptocurrencies and that Bitdeer&#8217;s business and financial condition correlate with the market price of cryptocurrencies, it is difficult to evaluate Bitdeer&#8217;s business and future prospects based on its limited operating history or historical performance. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer has experienced and may experience in the future hash rate loss during its operations due to factors beyond its control.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer generates hash rate through operating its proprietary mining datacenters. To efficiently increase managing hash rate (i.e., proprietary hash rate and hosting hash rate), Bitdeer&#8217;s efforts include constructing and expanding mining datacenters in prime locations globally, purchasing the latest mining machine models and continually optimizing operational efficiency of its mining farms and mining machines. However, hash rate generation is affected by factors beyond Bitdeer&#8217;s control, including temperature, humidity, mining machine quality, the depreciation and deterioration of mining machines, the location of Bitdeer&#8217;s mining machines globally, spare parts supply quality, quantity and timeliness, sudden surge in power price or sudden power outage, maintenance team members&#8217; lack of experience, unseen computer virus attack, etc. For example, Bitdeer has experienced hash rate loss during 2021, primarily due to relocation of mining machines as well as unfavorable weather condition. In the future, Bitdeer expects the risks of hash rate loss will remain, which may affect its business and results of operations. </font>
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            <font style="letter-spacing:-0.2pt;">Our forecasts and projections are based upon assumptions, analyses and internal estimates developed by our management. If these assumptions, analyses or estimates prove to be incorrect or inaccurate, our actual operating results may differ materially and adversely from those forecasted or projected.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Our forecasts and projections are subject to significant uncertainty and are based on assumptions, analyses and internal estimates developed by our management, any or all of which may not prove to be correct or accurate. If these assumptions, analyses or estimates prove to be incorrect or inaccurate, our actual operating results may differ materially and adversely from those forecasted or projected. The projections and the assumptions underlying them reflect the opinion of Bitdeer&#8217;s management, based on Bitdeer&#8217;s business plans at the time the projections were prepared, taking into account the risks and uncertainties of Bitdeer&#8217;s business, but there can be no assurance that these projections will be realized or that actual results will not be significantly higher or lower than projected. The projections and underlying assumptions do not take into account any circumstances or events occurring after the date they were prepared, but Bitdeer&#8217;s management believes they continue to have a reasonable basis as of the date of this proxy statement/prospectus. Except to the extent required by applicable federal securities laws, by including in this proxy statement/prospectus a summary of the projections for Bitdeer, BSGA undertakes no obligations and expressly disclaims any responsibility to update or revise, or publicly disclose any update or revision to, these projections to reflect circumstances or events, including unanticipated events, that may have occurred or that may occur after the </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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            <font style="letter-spacing:0.2pt;">preparation of these projections, even in the event that any or all of the assumptions underlying the projections are shown to be in error or change. </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">The projections reflect numerous estimates and assumptions with respect to, among other things, bitcoin prices, bitcoin network hash rate, general business, economic, regulatory, market and financial conditions and other future events, as well as matters specific to Bitdeer&#8217;s business, all of which are difficult to predict and many of which are beyond the control of Bitdeer and BSGA. An non-exhaustive list of factors that could impact the accuracy and appropriateness of the projections include the following: </font>
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            <font style="letter-spacing:0.2pt;">Price and volatility of Bitcoin and other cryptocurrencies; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to maintain its competitive positions in proprietary hash rate; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to procure mining machines at a lower cost; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to expand its mining datacenters; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to control electricity cost; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to make effective judgments regarding pricing strategy and resource allocation; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to upgrade and expand offerings; </font>
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            <font style="letter-spacing:0.2pt;">Regulatory changes or actions may restrict the use of cryptocurrencies or the operation of cryptocurrency networks in a manner that may require Bitdeer or BTG to cease certain or all operations; </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s ability to implement measures to address the material weakness that has been identified; </font>
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            <font style="letter-spacing:0.2pt;">The COVID-19 pandemic&#8217;s adverse impact on Bitdeer&#8217;s business, financial condition and results of operations; and </font>
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            <font style="letter-spacing:0.2pt;">The risks to Bitdeer&#8217;s business of earthquakes, fires, floods, and other natural catastrophic events and interruptions by man-made issues such as strikes and terrorist attacks. </font>
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            <font style="letter-spacing:0.2pt;">Unfavorable changes in any of these or other factors, most of which are beyond our control, could adversely affect business, financial conditions and results of operations of Bitdeer and cause the actual results of Bitdeer to differ materially from that contained in this proxy statement/prospectus. </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">The projections were prepared solely for internal use and not with a view toward public disclosure or the published guidelines of the American Institute of Certified Public Accountants regarding the preparation and presentation of prospective financial projections. BSGA did not prescribe or relay any instructions, guidelines, parameters, inputs, assumptions or other directions to Bitdeer&#8217;s management with respect to the projections included in this proxy statement/prospectus. These projections should not be viewed as public guidance. </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">The financial projections included in this proxy statement/prospectus have been prepared by, and are the responsibility of, Bitdeer&#8217;s management. Neither MaloneBailey, LLP nor Marcum LLP or any other independent accountant has audited, reviewed, examined, compiled nor applied agreed-upon procedures with respect to the financial projections contained herein and accordingly, neither MaloneBailey, LLP nor Marcum LLP or any other independent accountant expresses any opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any association with, the financial projections. The Marcum LLP report included in this proxy statement/prospectus relates to BSGA&#8217;s historical financial statements. MaloneBailey, LLP reports included in this proxy statement/prospectus relate to Bitdeer&#8217;s historical financial statements. There can be no assurance that our financial conditions will be consistent with those set forth in our projections and forecasts for reasons set forth above, which could have an adverse impact on the market valuation of Bitdeer or the financial position of the post-Business Combination entity. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer is subject to risks associated with its need for significant electric power and the limited availability of power resources, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s business requires a significant amount of electric power. The costs of electric power account for a significant portion of Bitdeer&#8217;s cost of revenue. Bitdeer requires a significant electric power supply to conduct </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">its mining activity, to produce cloud hash rate and to provide hosting services such as powering and cooling Bitdeer&#8217;s and its customers&#8217; servers and network equipment and operating critical mining and hosting infrastructure. </font>
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          <font style="letter-spacing:0.2pt;">There has been a substantial increase in the demand for electricity for cryptocurrency mining, and this has had varying impacts on local electricity supply. Additionally, Bitdeer currently relies on renewable sources of power and plans to increase its reliance on renewable sources of power in the future. Renewable power is generally an intermittent and variable source of electricity, which may not always be available. Because the electrical grid has very little storage capacity, the balance between electricity supply and demand must be maintained at all times to avoid a blackout or other cascading problem. Intermittent sources of renewable power are challenging because they disrupt the conventional methods for planning the daily operation of the electrical grid. Their power fluctuates over multiple time horizons, forcing the grid operator to adjust its day-ahead, hour-ahead, and real-time operating procedures. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The amount of power required by Bitdeer and its customers will increase commensurately with the demand for Bitdeer&#8217;s services and the increase in mining machines Bitdeer operates for itself and its hosting customers. Should Bitdeer&#8217;s operations require more electricity than can be supplied in the areas where its mining facilities are located or should the electrical transmission grid and distribution systems be unable to provide the continuous, steady supply of electricity required, Bitdeer may have to limit or suspend activities or reduce the speed of its proposed expansion, either voluntarily or as a result of either quotas imposed by energy companies or governments, or increased prices for certain users (such as Bitdeer). If Bitdeer is unable to procure electricity at a suitable price, Bitdeer may have to shut down its operations in that particular jurisdiction either temporarily or permanently. Therefore, increased power costs and limited availability and curtailment of power resources will reduce Bitdeer&#8217;s revenue and have a material and adverse effect on its cost of revenue and results of operations. Although Bitdeer aims to build and operate energy efficient facilities, there can be no assurance such facilities will be able to deliver sufficient power to meet the growing needs of Bitdeer&#8217;s business. If Bitdeer is unable to receive adequate power supply and is forced to reduce its operations due to the availability or cost of electrical power, its business would experience materially negative impacts. </font>
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          <font style="letter-spacing:0.2pt;">Certain government actors have begun to intervene with the supply of electrical energy to cryptocurrency miners. Governments or government regulators may potentially restrict electricity suppliers from providing electricity to mining datacenter in times of electricity shortage or may otherwise potentially restrict or prohibit the provision of electricity to businesses like Bitdeer. In the event government regulators issue moratoriums or impose bans or restrictions involving hosting operations or transaction processing in jurisdictions in which it operates, Bitdeer will not be able to continue its operations in such jurisdictions. A moratorium ban or restriction could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">Additionally, Bitdeer&#8217;s cryptocurrency mining machines would be materially adversely affected by a power outage. Energy costs and availability are vulnerable to risks of outages and power grid damage as a result of inclement weather, animal incursion, sabotage and other events out of Bitdeer&#8217;s control. Because the mining portion of Bitdeer&#8217;s business consumes a large amount of energy, it is not practical or economical for Bitdeer&#8217;s operations to run on back-up generators in the event of a power outage, which may be caused by weather, acts of God, wild fires, pandemics, falling trees, falling distribution poles and transmission towers, transmission and distribution cable cuts, other force majeure events in the electricity and natural gas markets and/or the negligence or malfeasance of others. Any system downtime resulting from insufficient power resources or power outages could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">If Bitdeer fails to accurately estimate the factors upon which Bitdeer bases its contract pricing, Bitdeer may generate less profit than expected or incur losses on those contracts, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s cloud hash rate and hosting contracts are generally priced taking into account various factors including the then Bitcoin price, network hash rate, purchase cost of mining machines, estimated power consumption by Bitdeer&#8217;s clients, along with other costs of products or services, as adjusted for actual costs. Bitdeer&#8217;s ability to earn a profit on such contracts requires that Bitdeer accurately estimate the costs involved and outcomes likely to be achieved and assess the probability of generating sufficient hosting and colocation </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">capacity within the contracted time period. Bitdeer&#8217;s pricing of hash rates may cause significantly lower income than Bitdeer could have generated through using the same hash rates for proprietary mining. Bitdeer may also not be able to accurately forecast the outcome of selling its products and services at a particular price and the inability to accurately estimate the factors upon which Bitdeer bases its contract pricing could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer has broad discretion regarding pricing strategy and resource allocation and may exercise related business judgments in a way that you may not agree with. Such judgments may not achieve the best possible outcome for its business operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s business operations involve constant and important decision-making regarding the pricing of its services and allocation of mining resources. Bitdeer takes into account its estimates of market trends when determining pricing strategies. To achieve profitability in the long run, Bitdeer may offer lower price in order to acquire and retain new customers, even if this pricing does not allow Bitdeer to maximize its short-term revenue. As Bitdeer operates three business lines, Bitdeer has to decide the allocation of proprietary hash rate between &#8220;proprietary mining&#8221; and &#8220;hash rate sharing&#8221; as well as the allocation of mining datacenter capacity among &#8220;proprietary mining,&#8221; &#8220;hash rate sharing&#8221; and &#8220;hosting.&#8221; While allocating more mining resources to &#8220;hash rate sharing&#8221; and &#8220;hosting&#8221; services may facilitate cash payback and mining datacenter expansion while lower risk exposure associated with Bitcoin price volatility, Bitdeer has to forgo its huge appreciation potential to some extent as Bitdeer could earn more Bitcoins by allocating the same mining resources to &#8220;proprietary mining,&#8221; and vice versa. Bitdeer spends great efforts in making these business decisions in the Company&#8217;s best interest, taking into account Bitcoin price, network hash rate, the amount of cash Bitdeer needs and its view on the market opportunities for acquiring mining machines or expanding mining datacenters at low cost, etc. However, Bitdeer cannot guarantee that its decisions could generate the most revenue or offer the strongest downside protection for the Company. If Bitdeer cannot accurately estimate any of the aforementioned factors upon which Bitdeer bases, its contract pricing could have a material adverse effect on its business, financial condition and results of operation. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer faces intense competition and its competitors may employ aggressive pricing strategies, which can lead to a price reduction of Bitdeer&#8217;s solutions and services and material adverse effect on Bitdeer&#8217;s results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer operates in highly competitive industries for cryptocurrency mining and related services, and Bitdeer may look to enter into markets with very competitive landscapes. Bitdeer&#8217;s competitors include many well-known worldwide players, and Bitdeer faces competitors that are larger than itself and have advantages over itself in terms of economies of scale and financial and other resources. Bitdeer expects that competition in Bitdeer&#8217;s markets will continue to be intense. Some of Bitdeer&#8217;s competitors may also have stronger brand names, greater access to capital, longer histories, longer relationships with their suppliers or customers and more resources than Bitdeer does. Furthermore, these competitors may be able to adapt to changes in the industry more promptly and efficiently. Intense competition from existing and potential competitors could result in material price reductions in the products Bitdeer sells or a decrease in its market share. Aggressive pricing strategies by Bitdeer&#8217;s competitors and an abundant supply of hash rate sharing or hosting services in the market may cause Bitdeer to reduce the prices of its services and also negatively affect the demand for Bitdeer&#8217;s services or harm Bitdeer&#8217;s profitability. If Bitdeer fails to compete effectively and efficiently or fails to adapt to changes in the competitive landscape, Bitdeer&#8217;s business, financial condition and results of operations may be materially and adversely affected. </font>
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          <font style="letter-spacing:-0.2pt;">The average selling prices of Bitdeer&#8217;s solutions and services may fluctuate from time to time due to technological advancement and Bitdeer may not be able to pass onto its machine suppliers such decreases, which may in turn adversely affect its profitability.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Bitcoin-related industry is characterized by rapid launches of new products, continuous technological advancements and changing market trends and customer preferences, all of which may translate to fluctuations in the average selling prices of products or services over time. Because Bitdeer competes in an environment of rapidly evolving technology advancement, market trends and developments of the hash rate sharing and hosting industry, there is no assurance that Bitdeer will be able to pass on any decrease in average selling prices of Bitdeer&#8217;s services to its suppliers in a timely manner or at all. In the event that average selling prices of Bitdeer&#8217;s services unusually or significantly decrease and such decreases cannot be offset by a corresponding </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">decrease in the prices of the principal components of its services, Bitdeer&#8217;s gross profit margins may be materially and adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">There are uncertainties over the outcome of Bitdeer&#8217;s mining operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s mining operation comprises blockchain mining technologies that depend on a network of computers to run certain software programs to solve complex transactions in competition with other mining operations and to process transactions. Because of this less centralized model and the complexity of Bitdeer&#8217;s mining operation, there are uncertainties over the likelihood of winning a block reward and hence the outcome of Bitdeer&#8217;s mining operations. While Bitdeer participates in mining pools to combine its mining operations with other mining participants to increase processing power to solve blocks, there can be no assurance that such pools will adequately address this risk. </font>
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          <font style="letter-spacing:-0.2pt;">The development of blockchain technology and cryptocurrency is in its early stage and any adverse development in the cryptocurrency or blockchain market could adversely affect Bitdeer&#8217;s business and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Blockchain is a voluntary open network that can be used by anyone with devices connected to the internet. It allows every node to create immutable data, transparent record of transactions and peer-to-peer transactions in an efficient, secure and trust-free manner. Because of such advantages, blockchain can be applied to various industries and activities, such as cryptocurrency, payment, financial services, Internet-of-Things (IoT), cloud computing and cybersecurity, among others. However, there can be no assurance of such acceptance in the society. There may not be strong market demand for Bitdeer&#8217;s mining services as a key and important process during the application process of blockchain technology, and Bitdeer&#8217;s prospects, business and results of operations can be materially and adversely affected. </font>
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          <font style="letter-spacing:0.2pt;">Adverse developments in the blockchain industry could lead to a decrease in the demand for hash rate products and hosting resources, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. Bitdeer faces risks including those related to: </font>
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          <font style="letter-spacing:0.2pt;">a decline in the adoption and use of Bitcoin and other similar cryptocurrencies within the technology industry or a decline in value of cryptocurrencies; </font>
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          <font style="letter-spacing:0.2pt;">increased costs of complying with existing or new government regulations applicable to cryptocurrencies and other factors; </font>
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          <font style="letter-spacing:0.2pt;">a downturn in the market for blockchain hosting space generally, which could be caused by an oversupply of or reduced demand for blockchain space; </font>
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          <font style="letter-spacing:0.2pt;">any transition by Bitdeer&#8217;s customers of blockchain hosting from third-party providers like Bitdeer to customer-owned and operated facilities; </font>
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          <font style="letter-spacing:0.2pt;">the rapid development of new technologies or the adoption of new industry standards that render Bitdeer or its customers&#8217; current products and services obsolete or unmarketable and, in the case of Bitdeer&#8217;s customers, that contribute to a downturn in their businesses, increasing the likelihood of a default under their service agreements or their becoming insolvent; </font>
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          <font style="letter-spacing:0.2pt;">a slowdown in the growth of the internet generally as a medium for commerce and communication; </font>
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          <font style="letter-spacing:0.2pt;">availability of an adequate supply of new generation cryptocurrency mining equipment to enable Bitdeer to mine cryptocurrencies at scale and for customers who want to purchase hash rate from Bitdeer or host with Bitdeer to be able to do so; and </font>
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          <font style="letter-spacing:0.2pt;">the degree of difficulty in mining cryptocurrencies and the trading price of such assets. </font>
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          <font style="letter-spacing:0.2pt;">Additionally, Bitcoin, a mainstream cryptocurrency based upon blockchain technology, was first introduced in 2008 and is generally regarded as the first application of the blockchain technology. The Bitcoin network and its surrounding ecosystem is still in a relatively early development stage. Cryptocurrencies have only recently become selectively accepted as a means of payment for goods and services by many industries, and use of cryptocurrency by consumers to pay in such industries remains limited. In addition, there may be some jurisdictions that restrict the use of Bitcoins and other cryptocurrencies as a medium of exchange and the conversion between cryptocurrencies and fiat currencies. There is no assurance that usage of </font>
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          <font style="letter-spacing:0.2pt;">cryptocurrencies, in particular Bitcoins, will continue to grow. As Bitdeer&#8217;s business focuses on proprietary cryptocurrency mining and serving cryptocurrency miners, and relies heavily on the cryptocurrency market, any lack of usage of or fade in the public interest for cryptocurrency may adversely affect Bitdeer&#8217;s business, future prospects, results of operations and financial condition. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer is subject to risks associated with legal, political or other conditions or developments regarding holding, using or mining of cryptocurrencies, in particular Bitcoins, which could negatively affect its business, results of operations and financial position.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s customers are based globally. As such, changes in government policies, taxes, general economic and fiscal conditions, as well as political, diplomatic or social events, expose Bitdeer to financial and business risks. In particular, changes in policies and laws regarding holding, using and/or mining of Bitcoins could result in an adverse effect on Bitdeer&#8217;s business operations and results of operations. Moreover, if any international jurisdiction where it operates mining datacenters or sell its Bitcoin mining related services prohibits or restricts Bitcoin mining activities, Bitdeer may face legal and other liabilities and will experience a material loss of revenue. </font>
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          <font style="letter-spacing:0.2pt;">There are significant uncertainties regarding future regulations pertaining to the holding, using or mining of Bitcoins, which may adversely affect Bitdeer&#8217;s results of operations. While Bitcoin has gradually gained more market acceptance and attention, it is anonymous and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict, control or ban the mining, use and holding of Bitcoins. Bitdeer&#8217;s existing policies and procedures for the detection and prevention of money laundering and terrorism-funding activities through its business activities have only been adopted in recent&#160;years and may not completely eliminate instances in which Bitdeer or its services may be used by other parties to engage in money laundering and other illegal or improper activities. Bitdeer is subject to anti-money laundering laws in many jurisdictions in which it operates. Bitdeer cannot assure you that there will not be a failure in detecting money laundering or other illegal or improper activities which may adversely affect its reputation, business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">With advances in technology, cryptocurrencies are likely to undergo significant changes in the future. It remains uncertain whether Bitcoin will be able to cope with, or benefit from, those changes. In addition, as Bitcoin mining employs sophisticated and high computing power devices that need to consume a lot of electricity to operate, future developments in the regulation of energy consumption, including possible restrictions on energy usage in the jurisdictions where Bitdeer sells its products or services, may also affect Bitdeer&#8217;s business operations and the demand for Bitdeer&#8217;s current and future mining related products or services, including cloud hash rate, hosting and </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">. There have been public backlashes surrounding the environmental impacts of Bitcoin mining, particularly the large consumption of electricity, and governments of various jurisdictions have responded. For example, in the United States, certain local governments of the State of Washington have discussed measures to address environmental impacts of Bitcoin-related operations, such as the high electricity consumption of Bitcoin mining activities. </font>
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          <font style="letter-spacing:-0.2pt;">Substantial increases in the supply of mining machines connected to the Bitcoin network would lead to an increase in network hash rate capacity, which in turn would increase mining difficulty. This development would negatively affect the economic returns of Bitcoin mining activities, which would decrease the demand for and/or pricing of Bitdeer&#8217;s products and services.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The difficulty of Bitcoin mining, or the amount of computational resource required for a set amount of reward for recording a new block, directly affects the expected economic returns for Bitcoin miners, which in turn affects Bitdeer&#8217;s proprietary mining business and the demand for Bitdeer&#8217;s Bitcoin mining related products and services including hash rate sharing and hosting. Bitcoin mining difficulty is a measure of how much computing power is required to record a new block and it is affected by the total amount of computing power in the Bitcoin network. The Bitcoin algorithm is designed to the effect that one block is generated, on average, every ten minutes, no matter how much computing power is in the network. Thus, as more computing power joins the network, and assuming the rate of block creation does not change (remaining at one block generated every ten minutes), the amount of computing power required to generate each block and hence the mining difficulty increases. In other words, based on the current design of the Bitcoin network, Bitcoin mining difficulty would increase together with the total computing power available in the Bitcoin network, which is in </font>
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          <font style="letter-spacing:0.2pt;">turn affected by the number of Bitcoin mining machines in operation. From January&#160;2019 to December&#160;2021, Bitcoin mining difficulty increased by approximately 3.3 times, according to Frost &amp; Sullivan. As a result, a strong growth in promotion of Bitcoin computing power supply services can contribute to further growth in the total computing power in the network, thereby driving up the difficulty of Bitcoin mining and resulting in downward pressure on the expected economic return of Bitcoin mining and the demand for, and pricing of, Bitdeer&#8217;s products and services. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s business is highly dependent on acquiring a sufficient number of cryptocurrency mining equipment from its suppliers. Bitdeer may not be able to obtain new mining hardware or purchase such hardware at competitive prices during times of high demand, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s business is highly dependent upon cryptocurrency mining equipment suppliers providing an adequate supply of new generation cryptocurrency mining machines at economical prices to support its proprietary mining, hash rate sharing and hosting business lines and its customers&#8217; mining activities. The growth in Bitdeer&#8217;s business is directly related to increased demand for hosting services and cryptocurrencies such as Bitcoin which is dependent in large part on the availability of new generation mining machines offered for sale at a price conducive to profitable cryptocurrency mining, as well as the trading price of cryptocurrencies such as Bitcoin. The market price and availability of new mining machines fluctuates with the price of Bitcoin and can be volatile. </font>
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          <font style="letter-spacing:0.2pt;">Historically, an increase in interest and demand for cryptocurrencies has led to a shortage of mining hardware and increased prices. In addition, as more companies seek to enter the mining industry, the demand for machines may outpace supply and create mining machine equipment shortages. There is no assurance that cryptocurrency mining equipment suppliers will be able to keep pace with any surge in demand for mining equipment. Bitdeer and its customers and the potential customers of Bitdeer&#8217;s hosting service may in the future experience difficulty in obtaining new equipment or replacement components for Bitdeer&#8217;s and their existing equipment, including graphics processing&#160;units and application-specific integrated circuit chipsets and computer servers, which in the future may have, a material impact on the demand for Bitdeer&#8217;s products and services and associated revenue. Further, Bitdeer may have little or no recourse in the event a mining machine manufacturer or distributor defaults on its mining machine delivery commitments. If Bitdeer and its customers are not able to obtain a sufficient number of cryptocurrency mining machines at favorable prices, Bitdeer&#8217;s growth expectations, liquidity, financial condition and results of operations will be negatively impacted. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer relies on supplies from a single or a group of third-party electricity, mining pool services and mining machines providers, and any negative incidents caused by actions taken by them that are outside of Bitdeer&#8217;s control may adversely impact Bitdeer&#8217;s business and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">To some extent, Bitdeer currently relies on a single or a group of third-party suppliers and service providers to provide quality services to customers. Bitdeer&#8217;s brand and reputation may be harmed by actions taken by such third parties that are outside of Bitdeer&#8217;s control. For example, Bitdeer is currently contracting with one electricity supplier to support each of its mining farms in Norway, as well as Texas, Tennessee and Washington in the United States, respectively. Pursuant to Bitdeer&#8217;s agreement with its electricity supplier for the mining datacenter in Hustadvika municipality, Norway, Bitdeer agrees to purchase power at the amount and price designated in the contract, during the period from January 1, 2022 to December 31, 2024, which is the term of this agreement. Pursuant to Bitdeer&#8217;s agreement with its electricity supplier for the mining datacenter in Tydal municipality, Norway, Bitdeer agrees to purchase power at the amount and price designated in the contract, during the period from September 1, 2022 to December 31, 2024, which is the term of this agreement. Both agreements can be completely terminated with zero load ending at midnight of the final day in each quarter. Pursuant to Bitdeer&#8217;s agreement with its electricity supplier in Texas, the supplier shall provide electricity to meet full electricity requirements of the two electricity service accounts identified by Bitdeer. This contract is effective through December 31, 2026 and is terminable in the event of default. Pursuant to Bitdeer&#8217;s agreement with its electricity supplier in Tennessee, the supplier shall make power available to Bitdeer in the amount designated in the contract. Valid through July 31, 2026, this contract is automatically renewed for additional five years upon expiration of the initial term, unless either party notifies the other in writing not less than 60 days prior to the expiration date of the initial term or any renewal term of </font>
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          <font style="letter-spacing:0.2pt;">its desire to terminate this contract on such expiration date. Pursuant to Bitdeer&#8217;s agreement with its electricity supplier in Washington, the supplier shall provide power and associated energy to meet Bitdeer&#8217;s demand at rates that are subject to adjustment, modification, change or replacement from time to time. This contract remains effective until terminated upon six months prior written notice by Bitdeer. While Bitdeer believes that alternative suppliers are readily available in the market, changing to a new supplier may require additional costs and time. Bitdeer also sources mining machines from a wide variety of manufacturers and traders with whom it has built relationships over the&#160;years. The prices of mining machines were negotiated on an individual basis, and the agreements typically allow for termination upon either party&#8217;s uncured material breach, suspension of all or a substantial part of its business, deterioration of its financial position, or upon insolvency proceedings against either party. In addition, these agreements may include indemnification provisions either for benefit of Bitdeer, or for benefit of the manufacturers and traders. Each agreement requires manufacturers and traders to repair or replace the defective part/component of mining machines at no charge to Bitdeer. Despite the measures Bitdeer has taken to ensure the quality of products and services provided by third-party suppliers and service providers, to the extent they are unable to maintain their production facilities&#8217; efficiency, supply sufficient products in a timely manner, or provide satisfactory products and services to Bitdeer&#8217;s customers, which may be due to events that are beyond Bitdeer&#8217;s or their control, such as manufacturing defects, Bitdeer may suffer reputational damage, and Bitdeer&#8217;s business, financial condition and results of operations may be materially and adversely affected. While Bitdeer has not experienced such incidents that had a material adverse impact on its business as of the date of this proxy statement/prospectus, as such incidents are beyond Bitdeer&#8217;s control, there is no assurance that such incidents will not occur in the future regardless of the measures Bitdeer has taken, and will take, to maintain the quality products and services provided by third-party suppliers and service providers. If Bitdeer is unable to effectively address these risks, its brand image, reputation and financial performance may be materially and adversely affected. </font>
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          <font style="letter-spacing:0.2pt;">Additionally, Bitdeer utilizes third-party mining pools to receive its mining rewards from a given network. Mining pools allow mining participants to combine their processing power, which increases the chances of solving a block and getting paid by the network. The rewards are distributed by the pool operators, proportionally to Bitdeer&#8217;s contribution to the pools&#8217; overall mining power used to solve a block. Bitdeer entered into agreements with mining pool operators who deliver cryptocurrency rewards to accounts of Bitdeer or Bitdeer&#8217;s customers in exchange for hash rate provided by Bitdeer and Bitdeer&#8217;s</font><font style="font-style:italic;letter-spacing:0.2pt;"> Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> customers. The agreements are terminable through mutual agreement between both parties or due to a breach of the contract which is not cured within two days upon receiving notice from the non-breaching party. Due to the competitiveness of the global mining pool industry, Bitdeer believes that it will be able to promptly access alternative mining pools if needed. Nevertheless, Bitdeer is dependent on the accuracy of a mining pool operator&#8217;s record keeping to accurately record the total processing power provided to the pool for a given Bitcoin or other cryptocurrency mining application in order to assess the proportion of that total processing power Bitdeer provided. While Bitdeer has internal methods of tracking both Bitdeer&#8217;s power provided and the total power used by the pool, the mining pool operator uses its own record-keeping to determine Bitdeer&#8217;s proportion of a given reward. Bitdeer has little means of recourse against the mining pool operator if Bitdeer determines the proportion of the reward paid out to Bitdeer by a mining pool operator is incorrect, other than leaving the pools or entering into a lengthy negotiation with the third-party mining pools to get back the fair rewards. If Bitdeer is unable to consistently obtain accurate proportionate rewards from its mining pool operators, Bitdeer may experience reduced reward for its efforts, which would have an adverse effect on its business and operations. </font>
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          <font style="letter-spacing:-0.2pt;">Failure to keep Bitdeer&#8217;s solutions and services up-to-date in line with the approximate level of market demand could cause Bitdeer to lose sales, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In order to operate its business successfully and meet the demands and expectations of its customers, Bitdeer must maintain a certain level of equipment, including but not limited to mining machines, to sustain large scale service when required. Furthermore, Bitdeer is required to maintain an appropriate level of equipment for any unexpected emergency substitute or in preparation of potential outage and sudden service loss. However, forecasts are inherently uncertain. If Bitdeer&#8217;s forecasted demand is lower than actual demand or Bitdeer&#8217;s risk estimate is much sufficient, Bitdeer may not be able to provide its customers with sufficient hash rate sharing or hosting services in a timely manner, and Bitdeer may lose sales and market share to its competitors. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may be unable to execute its growth strategies or effectively maintain its rapid growth trends.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer has experienced rapid growth and significantly expanded its business in recent&#160;years. Bitdeer&#8217;s total net revenue increased by 110.0% from US$88.8 million in 2019 to US$186.4&#160;million in 2020, and further increased by 111.7% to US$394.7&#160;million in 2021. Bitdeer incurred a net loss of US$27.9 million and US$55.8 million for the years ended December 31, 2019 and 2020, respectively, and generated a net profit of US$82.6 million for the year ended December&#160;31, 2021. Bitdeer may not be able to grow its revenue and achieve profitability in the future if Bitdeer is not able to successfully execute its product development and diversification, geographic expansion and other growth plans. In addition, Bitdeer&#8217;s rapid growth has placed and will continue to place significant demands on its management and its administrative, operational, research and development and financial resources. </font>
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          <font style="letter-spacing:0.2pt;">To accomplish Bitdeer&#8217;s growth strategies and manage the future growth of its operations, Bitdeer will be required to enhance its research and development capabilities, improve its operational and financial systems, and expand, train and manage its growing employee base. Furthermore, Bitdeer needs to maintain and expand its relationships with Bitdeer&#8217;s customers, suppliers, research institutions, third-party manufacturers and other third parties. Moreover, as Bitdeer introduces new products or services or enter new markets, Bitdeer may face new market, technological, operational and regulatory risks and challenges with which it is unfamiliar. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s current and planned operations, personnel, systems, internal procedures and controls may not be adequate to support Bitdeer&#8217;s future growth and expansion. In addition, the success of Bitdeer&#8217;s growth strategies depends on a number of external factors, such as the development of the cryptocurrency market and the demand for Bitcoin, the level of competition Bitdeer faces and evolving customer behavior and preferences. If Bitdeer is unable to execute its growth strategies or manage its growth effectively, Bitdeer may not be able to capture market opportunities or respond to competitive pressures, which may materially and adversely affect Bitdeer&#8217;s business prospects and results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, Bitdeer also faces risks associated with the expansion of its operations overseas. See &#8220;&#8212;&#160;Bitdeer faces risks associated with the expansion of its scale of operations globally, and if Bitdeer is unable to effectively manage these risks, they could impair Bitdeer&#8217;s ability to expand its business abroad.&#8221; If Bitdeer is not able to manage its growth or execute its strategies effectively, Bitdeer&#8217;s expansion may not be successful and its business and prospects may be materially and adversely affected. </font>
        </div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer faces risks associated with the expansion of its scale of operations globally, and if Bitdeer is unable to effectively manage these risks, they could impair Bitdeer&#8217;s ability to expand its business abroad.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer operates its business globally, with customers and suppliers located in various countries. As Bitdeer continues to grow its business and expand its operations globally, it will continue to sell its products and services into new jurisdictions in which Bitdeer has limited or no experience and in which Bitdeer&#8217;s brands may be less recognized. Bitdeer&#8217;s global operation exposes it to a number of risks, including: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a limited customer base and limited sales and relationships with international customers; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">difficulty in managing multinational operations; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">competitors in overseas markets who have stronger ties with local customers and greater resources; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.09pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.09pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">fluctuations in currency exchange rates; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">challenges in providing customer products and services and support in these markets; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">challenges in managing Bitdeer&#8217;s overseas sales force and implementing sales strategies effectively; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">unexpected transportation delays or interruptions or increases in international transportation costs; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">difficulties in and costs of exporting products overseas while complying with the different commercial, legal and regulatory requirements of the overseas markets in which Bitdeer offers its products and services; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">regulations, changes to regulation, regulatory uncertainty in or inconsistent regulations across various jurisdictions that may implicate cryptocurrency mining and other cryptocurrency activities; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">50</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">difficulty in ensuring the compliance with the sanctions imposed by The Office of Financial Assets Control of the U.S. Department of Treasury (&#8220;OFAC&#8221;), the European Union or the United Nations Security Council on various foreign states, organizations and individuals; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.5pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.5pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">inability to obtain, maintain or enforce intellectual property rights in all the jurisdictions Bitdeer operates in; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">inability to effectively enforce contractual or legal rights or intellectual property rights in certain jurisdictions under which Bitdeer operates; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">changes in a specific country or region&#8217;s political or economic conditions or policies; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">governmental policies favoring domestic companies in certain foreign markets or trade barriers including export requirements, tariffs, taxes and other restrictions and charges. In particular, there have been concerns over the worldwide populism trend that call for protectionism trade policy and potential international trade disputes, all of which could cause turbulence in the international markets. These government policies or trade barriers could increase the prices of Bitdeer&#8217;s products and services and make Bitdeer less competitive in such countries. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">If Bitdeer is unable to effectively manage these risks, Bitdeer ability to operate and expand its business will be impaired, which could have a material adverse effect on its business, financial condition, results of operations and prospects. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Delays in the expansion of existing mining datacenters or the construction of new mining datacenters or significant cost overruns could present significant risks to Bitdeer&#8217;s business and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The daily operations of all Bitdeer&#8217;s business lines require the support of its mining datacenters, with a highly specialized infrastructure and considerable, reliable power in order to compete effectively. Bitdeer intends to increase its mining capacity and increase substantially the number of mining machines Bitdeer operates. In order to meet its financial plan, Bitdeer needs to expand its existing mining datacenters or obtain suitable land to build new mining datacenters. Bitdeer may face challenges in obtaining suitable land, as Bitdeer needs to work closely with the local power suppliers and local governments of the places where Bitdeer&#8217;s proposed facilitates are located. Delays in actions that require the assistance of such third parties, in receiving required permits and approvals or in mediations with local communities, if any, may negatively impact Bitdeer&#8217;s construction timelines and budget or result in any new facilities not being completed at all. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer plans to expand its footprints to six mining datacenters across the globe to increase Bitdeer&#8217;s total capacity to approximately 1,736MW, including 572MW power supply currently under construction and 762MW power supply &#8220;in the pipeline,&#8221; including 400MW power supply contracted but not yet under active construction and the rest under active negotiation. Such expansion and construction require Bitdeer to rely on the experience of one or more designers, general contractors and subcontractors, and such designers or contractors may experience financial or other problems during the design or construction process. Bitdeer may also experience quality control issues as Bitdeer implements any upgrades in its hosting capacity through the installation and maintenance of chipsets and servers or new cooling technologies such as immersion and water curtain cooling. Bitdeer&#8217;s business will be negatively impacted if Bitdeer is unable to run its mining operations in a way that is technologically advanced, economically and energy-efficient and temperature controlled. If Bitdeer is unsuccessful, it will damage its mining machines and the mining machines of third parties and the profitability of its mining operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If Bitdeer experiences significant delays in the supply of power required to support any mining datacenter expansion or construction, the progress of such projects could deviate from Bitdeer&#8217;s original plans, which could cause material and negative effects on Bitdeer&#8217;s revenue growth, profitability and results of operations. Any material delay in completing these projects, or any substantial cost increases or quality issues in connection with these projects, could materially delay Bitdeer&#8217;s ability to supply cloud hash rate and deliver its hosting capacity, cause Bitdeer to incur penalties under hosting contracts, result in reduced order volume and materially adversely affect Bitdeer&#8217;s business, financial condition and results of operations. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">51</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Any failure of Bitdeer&#8217;s solutions or services to meet the necessary quality standards could adversely affect Bitdeer&#8217;s reputation, business and results of operation.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The quality of the products and services Bitdeer is providing is critical to the success of its business and depends significantly on the effectiveness of Bitdeer&#8217;s and Bitdeer&#8217;s manufacturing service providers&#8217; quality control systems. In its efforts to quickly meet new market trends and demand and adopt new technologies, Bitdeer&#8217;s products and services may not have adequate time to go through Bitdeer&#8217;s normal rigorous testing procedures and final inspection, which could result in instances where Bitdeer&#8217;s products and services cannot reach the required performance standard, or Bitdeer&#8217;s products and services are found to be defective or significantly unsatisfying. These instances could result in Bitdeer&#8217;s customers suffering losses. Defects detected before products and services performance to Bitdeer&#8217;s customers may result in additional costs for remediation and rework. Defects detected after the performance of Bitdeer&#8217;s products and services may result in Bitdeer&#8217;s incurring further costs relating to inspection, installation or remediation, which may result in damages to Bitdeer&#8217;s reputation, loss of customers, government fines and disputes and litigation. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On the other hand, Bitdeer may have to turn to less reputable suppliers if Bitdeer cannot source adequate equipment or other supplies from its regular suppliers. Under such circumstances, the quality of the equipment may suffer and could cause performance issues in Bitdeer&#8217;s products and services. Shortages of supplies could result in reduced production or delays in production, as well as an increase in costs, which may negatively affect Bitdeer&#8217;s abilities to fulfill orders or provide timely services to customers, as well as Bitdeer&#8217;s customer relationships and profitability. Supplies shortages may also increase Bitdeer&#8217;s costs of revenue because it may be required to pay higher prices for products in short supply, without being able to pass such cost to customers. As a result, Bitdeer&#8217;s business, results of operations and reputation could be materially and adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Power outage or shortages, labor disputes and other factors may result in constraints on Bitdeer&#8217;s business activities.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Historically, Bitdeer has not experienced constraints on its business activities, including at its mining datacenters, due to power outage or shortages, labor disputes or other factors. However, there can be no assurance that Bitdeer&#8217;s operations will not be affected by power outage or shortages, labor disputes or other factors in the future, thereby causing material disruptions and delays in Bitdeer&#8217;s delivery schedule. In such an event, Bitdeer&#8217;s business, results of operations and financial condition could be materially and adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If Bitdeer is unable to maintain or enhance its brand recognition, its business, financial condition and results of operations may be materially and adversely affected.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Maintaining and enhancing the recognition, image and acceptance of Bitdeer&#8217;s brand are important to Bitdeer&#8217;s ability to differentiate its products and services from and to compete effectively with its peers. As Bitdeer relies heavily on word-of-mouth branding, Bitdeer&#8217;s brand image could be jeopardized if it fails to maintain high product and service quality, pioneer and keep pace with evolving technology trends, or timely fulfil the orders for its products and services. If Bitdeer fails to promote its brand or to maintain or enhance the brand recognition and awareness among Bitdeer&#8217;s customers, or if Bitdeer is subject to events or negative allegations affecting its brand image or publicly perceived position of its brand, Bitdeer&#8217;s business, operating results and financial condition could be adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer may not be able to adequately protect its intellectual property rights and other proprietary rights, which could have a material adverse effect on business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer may not be able to obtain broad protection in Singapore, the United States or internationally for all of its existing and future intellectual property and other proprietary rights, and Bitdeer may not be able to obtain effective protection for its intellectual property and other proprietary rights in every country in which Bitdeer operates. Protecting Bitdeer&#8217;s intellectual property rights and other proprietary rights may require significant expenditure of its financial, managerial and operational resources. Moreover, the steps that Bitdeer may take to protect its intellectual property and other proprietary rights may not be adequate to protect such rights or prevent third parties from infringing or misappropriating such rights. Any of Bitdeer&#8217;s intellectual property rights and other proprietary rights, whether registered, unregistered, issued or unissued, may be challenged by others or invalidated through administrative proceedings and/or litigation. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">52</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer may be required to spend significant resources to secure, maintain, monitor and protect its intellectual property rights and other proprietary rights. Despite its efforts, Bitdeer may not be able to prevent third parties from infringing upon, misappropriating or otherwise violating Bitdeer&#8217;s intellectual property rights and other proprietary rights. Bitdeer may initiate claims, administrative proceedings and/or litigation against others for infringement, misappropriation or violation of its intellectual property rights or other proprietary rights to enforce and/or maintain the validity of such rights. Any such action, if initiated, whether or not it is resolved in Bitdeer&#8217;s favor, could result in significant expense to Bitdeer, and divert the efforts of its technical and management personnel, which may have a material adverse effect on its business, financial condition and results of operations. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer may face intellectual property infringement claims or other related disputes, which could be time-consuming, costly to defend or settle and result in the loss of significant rights and lower sales.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As is typical in the cryptocurrency industry, Bitdeer may be subject to infringement claims from time to time or otherwise become aware of potentially relevant patents or other intellectual property rights held by other parties that may cover some of Bitdeer&#8217;s technology, products and services. The cryptocurrency industry is characterized by companies that hold large numbers of patents and other intellectual property rights and that vigorously pursue, protect and enforce these rights. Patent litigation has increased in recent&#160;years owing to increased assertions made by intellectual property licensing entities and increasing competition and overlap of product functionality in Bitdeer&#8217;s markets. Additionally, Bitdeer has in the past entered and may continue in the future to enter into licensing agreements with third parties for the use of their proprietary technologies, primarily software development tools, in the development of Bitdeer&#8217;s products and services. As with any business relationship, Bitdeer may face disputes and lawsuits related to those intellectual property licensing agreements. As its operations continue to grow in size and scale, the likelihood of Bitdeer becoming involved in intellectual property related lawsuits and disputes to protect or defend its intellectual property rights and the use of third-party intellectual property rights will increase. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, it is extremely difficult for Bitdeer to monitor all of the patent applications that have been filed in the United States or in other countries or regions and whether, if such pending patents are granted, such patents would have a material and adverse effect on Bitdeer&#8217;s business if Bitdeer&#8217;s service offering were to infringe upon them. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Other third parties may file claims against Bitdeer or its customers alleging that Bitdeer&#8217;s products and services, processes, or technologies infringe third-party patents or IP rights. Regardless of their merits or resolutions, such claims could be costly to defend or settle and could divert the efforts and attention of Bitdeer&#8217;s management and technical personnel. In addition, some of Bitdeer&#8217;s customer agreements in the future may require Bitdeer to indemnify and defend its customers from third-party infringement claims and to pay damages in the case of adverse rulings. As such, claims of this sort also could harm Bitdeer&#8217;s relationships with its customers and may deter future customers from doing business with Bitdeer. Bitdeer does not know whether Bitdeer could prevail in any such proceeding given the complex technical issues and inherent uncertainties involved in intellectual property litigation. If any pending or future proceedings result in an adverse outcome, Bitdeer could be required to: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">cease the use of the infringing equipment, processes or technologies; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">stop providing products and services to certain geographic areas; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">pay substantial damages for infringement; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">expend significant resources to develop non-infringing processes, technologies or products; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">license technology from the third-party claiming infringement, which license may not be available on commercially reasonable terms, or at all; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">cross-license Bitdeer&#8217;s technology to a competitor in order to resolve an infringement claim, which could weaken Bitdeer&#8217;s ability to compete with that competitor; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">pay substantial damages to Bitdeer&#8217;s customers to disruption of products and services they subscribed or replace the type of series with non-infringing equipment involved. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">53</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any of the foregoing results could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The loss of any member of Bitdeer&#8217;s senior management team, or Bitdeer&#8217;s failure to attract, train and retain qualified personnel, especially its design and technical personnel, could impair Bitdeer&#8217;s ability to grow its business and effectively execute its business strategy.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Since its inception, the growth and expansion of Bitdeer&#8217;s business operations have been dependent upon the business strategies and foresight of Bitdeer&#8217;s senior management. Bitdeer&#8217;s future success depends, in a large part, on the continued contributions of its senior management team, specifically Mr.&#160;Jihan Wu. In addition, Bitdeer&#8217;s future success depends on its ability to retain, attract and incentivize qualified personnel, including its management, sales, marketing, finance and especially research and development personnel. As the driver of Bitdeer&#8217;s technological and product innovations, Bitdeer&#8217;s research and development personnel represent a very significant asset of Bitdeer&#8217;s. As the technology in the cryptocurrency industry is advancing at a quick pace, there is an increasing need for skilled engineers. Many companies across the world are struggling to find suitable candidates for their research and development positions. The process of hiring employees with the combination of skills and characteristics required to implement Bitdeer&#8217;s strategy can be extremely competitive and time-consuming. Bitdeer cannot assure you that it will be able to attract adequate personnel as Bitdeer continues to pursue its business strategies. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Moreover, there is no assurance that Bitdeer will be able to retain key existing employees. The loss of any of Bitdeer&#8217;s founder, senior management or research and development team members could harm it ability to implement it business strategies and respond to the rapidly changing market conditions in which it operates, or could result in other operating risks. The loss of one or more of Bitdeer&#8217;s key employees, especially its key design and technical personnel, or its inability to retain, attract and motivate qualified designs and technical personnel, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer may be vulnerable to security breaches, which could disrupt its operations and have a material adverse effect on its business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A party who is able to compromise the physical security measures protecting Bitdeer&#8217;s facilities could cause interruptions or malfunctions in Bitdeer&#8217;s operations and misappropriate Bitdeer&#8217;s property or the property of its customers. Such a compromise could be particularly harmful to Bitdeer&#8217;s brand and reputation. Bitdeer may be required to expend significant capital and resources to protect against such threats or to alleviate problems caused by breaches in security. As techniques used to breach security change frequently and are often not recognized until launched against a target, Bitdeer may not be able to implement new security measures in a timely manner or, if and when implemented, Bitdeer may not be certain whether these measures could be circumvented. Any breaches that may occur could expose Bitdeer to increased risk of lawsuits, regulatory penalties, loss of existing or potential customers, harm to Bitdeer&#8217;s reputation and increases in Bitdeer&#8217;s security costs, which could have a material adverse effect on its business, financial condition and results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, any assertions of alleged security breaches or systems failure made against Bitdeer, whether true or not, could harm its reputation, cause Bitdeer to incur substantial legal fees and have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. Whether or not any such assertion actually develops into litigation, Bitdeer&#8217;s management may be required to devote significant time and attention to dispute resolution (through litigation, settlement or otherwise), which would detract from Bitdeer&#8217;s management&#8217;s ability to focus on its business. Any such resolution could involve the payment of damages or expenses by Bitdeer, which may be significant. In addition, any such resolution could involve Bitdeer&#8217;s agreement with terms that restrict the operation of its business. Any such resolution, including the resources exhausted in connection therewith, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Furthermore, security breaches, computer malware and computer hacking attacks have been a prevalent concern in the Bitcoin exchange market since the launch of the Bitcoin network. Any security breach caused by hacking, which involves efforts to gain unauthorized access to information or systems, or to cause </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">54</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">intentional malfunctions or loss or corruption of data, software, hardware or other computer equipment, and the inadvertent transmission of computer viruses, could harm Bitdeer&#8217;s business operations or result in loss of Bitdeer&#8217;s assets. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer may be exposed to cybersecurity threats and hacks, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The threats to network and data security are increasingly diverse and sophisticated. Despite Bitdeer&#8217;s efforts and processes to prevent breaches, its computer servers and computer systems may be vulnerable to cybersecurity risks, including denial-of-service attacks, physical or electronic break-ins, employee theft or misuse and similar disruptions from unauthorized tampering with Bitdeer&#8217;s computer servers and computer systems. The preventive actions Bitdeer takes to reduce the risk of cyber incidents and protect its information technology and networks may be insufficient to repel a major cyber-attack in the future. To the extent that any disruption or security breach results in a loss or damage to Bitdeer&#8217;s network, in unauthorized disclosure of confidential information or in a loss of Bitdeer&#8217;s cryptocurrencies, it could cause significant damage to its reputation, lead to claims against it and ultimately have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. Additionally, Bitdeer may be required to incur significant costs to protect against damage caused by these disruptions or security breaches in the future. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer may engage in acquisitions or strategic alliances in the future that could disrupt Bitdeer&#8217;s business, result in increased expenses, reduce Bitdeer&#8217;s financial resources and cause dilution to Bitdeer&#8217;s shareholders. Bitdeer cannot assure you that such acquisitions or strategic alliances may be successfully implemented.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Although Bitdeer has not engaged in acquisitions or strategic alliances in the past, it may look for potential acquisitions or strategic alliances in the future to expand its business. However, Bitdeer may not be able to find suitable acquisition candidates, complete acquisitions on favorable terms, if at all, or integrate any acquired business, products or technologies into Bitdeer&#8217;s operations. If Bitdeer does complete acquisitions, they may be viewed negatively by customers or investors and they may not enable Bitdeer to strengthen its competitive position or achieve its goals. In addition, any acquisitions that Bitdeer makes could lead to difficulties in integrating personnel, technologies and operations from the acquired businesses and in retaining and motivating key personnel from these businesses. Moreover, acquisitions may disrupt Bitdeer&#8217;s ongoing operations, divert management from day-to-day responsibilities and increase Bitdeer&#8217;s expenses. Future acquisitions may reduce Bitdeer&#8217;s cash available for operations and other uses, and could result in increases in amortization expenses related to identifiable intangible assets acquired, potentially dilutive issuances of equity securities or the incurrence of debt. Bitdeer cannot predict the number, timing or size of future acquisitions, or the effect that any such acquisitions might have on Bitdeer&#8217;s operating results. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Any global systemic economic and financial crisis could negatively affect Bitdeer&#8217;s business, results of operations, and financial condition.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Any prolonged slowdown in the global economy may have a negative impact on Bitdeer&#8217;s business, results of operations and financial condition. The global financial markets have experienced significant disruptions since 2008 and the United States, Europe and other economies have experienced periods of recession. There is considerable uncertainty over the long-term effects of the expansionary monetary and fiscal policies adopted by the central banks and financial authorities of some of the world&#8217;s leading economies, including the United States. There have also been concerns over unrest in Ukraine, the Middle East and Africa, which have resulted in volatility in financial and other markets, and concerns over the aftermath of the United Kingdom leaving the European Union as well as the significant potential changes to United States trade policies, treaties and tariffs. There were and could be in the future a number of domino effects from such turmoil on Bitdeer&#8217;s business, including significant decreases in orders from its customers, insolvency of key suppliers resulting in product delays, inability of customers to obtain credit to finance purchases of Bitdeer&#8217;s products and services and/or customer insolvencies, and counterparty failures negatively impacting Bitdeer&#8217;s operations. Any systemic economic or financial crisis could cause revenue for the semiconductor industry as a whole to decline dramatically and could materially and adversely affect Bitdeer&#8217;s results of operations. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">55</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:-0.2pt;">Changes in international trade policies and international barriers to trade may have an adverse effect on Bitdeer&#8217;s business and expansion plans.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer has provided worldwide products and services to a number of countries outside of Singapore and derive sales from exporting to those countries, and Bitdeer intends to continue to sell its current and future products to countries outside of Singapore. Revenue generated from customers located in the United States accounted for 12% and 17% of Bitdeer&#8217;s total revenue for the years ended December&#160;31, 2020 and 2021, respectively. Further, Bitdeer relies on certain overseas suppliers, including suppliers in the United States, for the supply of certain equipment and tools, such as mining machines. Changes to trade policies, treaties and tariffs in or affecting the jurisdictions in which Bitdeer operates and to which Bitdeer sells its products and services, or the perception that these changes could occur, could adversely affect the financial and economic conditions in those jurisdictions, as well as Bitdeer&#8217;s international sales, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s business and prospect may be negatively affected by changes in governmental policies including sanctions and export controls administered by other countries&#8217; governments, including those imposed as a result of an increasing tense relationship of the political or economic relations among major economic groups and other geopolitical challenges. Although Bitdeer currently only operates its business in certain countries, there is no assurance that the governmental authorities may take certain possible measures or restrictions towards the products and services Bitdeer is providing or will provide, which could result in an adverse impact on Bitdeer&#8217;s business and prospect if Bitdeer were not able to find substitute customer group with the same quality demand from other countries. Further, some of Bitdeer&#8217;s customers may experience undue hardship in purchasing or furthering the business relationship with it as a result of the abnormal international trade relations, which could materially and adversely affect Bitdeer&#8217;s business performance. </font>
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          <font style="letter-spacing:0.2pt;">In addition, countries, which are subject to other countries&#8217; sanctions or tariff impositions may further retaliate, in response to new trade policies implemented by such foreign governments. Such retaliation measures may further escalate the tensions between the two countries, which may have a negative impact on the economies of not merely the two countries concerned, but the global economy as a whole. As a result of any major economic downturn, Bitdeer&#8217;s business, financial condition and results of operations could be adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s prepayments to suppliers may subject it to counterparty risk associated with such suppliers and negatively affect Bitdeer&#8217;s liquidity and cash position.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer is required to prepay some of its suppliers before the service is provided to secure the supplier&#8217;s production capacity. As of December&#160;31, 2020 and 2021, the balance of prepayments Bitdeer made to its suppliers amounted to US$5.8&#160;million and US$14.5&#160;million, respectively. The amount of Bitdeer&#8217;s prepayment can significantly increase as it continues to pursue technological advancement. Bitdeer is subject to counterparty risk exposure to its suppliers. Any failure by Bitdeer&#8217;s suppliers to perform their contractual obligation in a timely manner and/or with Bitdeer&#8217;s requested quality may result in it not being able to fulfill customers&#8217; orders accordingly. In such an event, Bitdeer may not be able to regain the prepayment in a timely manner or in full, even though Bitdeer&#8217;s suppliers are obligated to return such prepayments under specified circumstances as previously agreed upon. Furthermore, if the cash outflows for the prepayments significantly exceed the cash inflows during any period, Bitdeer&#8217;s future liquidity position will be adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Concerns about greenhouse gas emissions and global climate change may result in environmental taxes, charges, assessments or penalties and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The effects of human activity on global climate change have attracted considerable public and scientific attention, as well as the attention of the United States and other foreign governments. Efforts are being made to reduce greenhouse gas emissions, particularly those from coal combustion power plants, some of which plants Bitdeer may rely upon for power. The added cost of any environmental taxes, charges, assessments or penalties levied on such power plants could be passed on to Bitdeer, increasing the cost to run Bitdeer&#8217;s hosting facilities. Any enactment of laws or promulgations of regulations regarding greenhouse gas emissions by the United States, Norway, or any other domestic or foreign jurisdiction in which Bitdeer conducts business, could have a material adverse effect on Bitdeer&#8217;s business, financial condition or results of operations. </font>
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          <font style="letter-spacing:0.2pt;">56</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:-0.2pt;">If Bitdeer experiences difficulty in collecting its trade receivables, its liquidity, financial condition and results of operations would be negatively impacted.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer derives its revenue from the sale of products and services and is subject to counterparty risks such as its customer&#8217;s inability to pay. As of December&#160;31, 2020 and 2021, Bitdeer&#8217;s trade receivables amounted to US$0.4&#160;million and US$8.2&#160;million, respectively. There can be no assurance that Bitdeer will be able to collect its trade receivables on a timely basis, and its trade receivable turnover days may increase, which in turn could materially and adversely affect Bitdeer&#8217;s liquidity, financial condition and results of operations. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s operations and those of its production partners and customers are vulnerable to natural disasters and other events beyond Bitdeer&#8217;s control, the occurrence of which may have an adverse effect on the supply chain of Bitdeer&#8217;s suppliers and on Bitdeer&#8217;s facilities, personnel and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s business could be adversely affected by natural disasters or outbreaks of epidemics. Bitdeer has not adopted any written contingency plans to combat any future natural disasters, such as floods and mudslides, or outbreaks of avian flu, H1N1 flu, SARS or any other epidemic. These natural disasters, outbreaks of contagious diseases, and other adverse public health developments in countries where Bitdeer&#8217;s computing power facilities are located or any other countries or regions in which Bitdeer conducts business could severely disrupt its business operations by damaging Bitdeer&#8217;s network infrastructure or information technology system or impacting the productivity of Bitdeer&#8217;s workforce, which may adversely affect its financial condition and results of operations. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The COVID-19 pandemic has brought a significantly negative impact on the global economy, industry and market conditions. The ongoing development and the global control on the pandemic are unclear, which may increase the instability of Bitdeer&#8217;s development, materially and adversely affecting Bitdeer&#8217;s results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Since December&#160;2019, the outbreak of a novel strain of coronavirus disease known as COVID-19 has materially and adversely affected the global economy. The COVID-19 pandemic has caused series of consequences from many perspectives and may continue to have a prolonged impact by: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
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          <font style="letter-spacing:0.2pt;">impairing Bitdeer&#8217;s ability to renew and maintain its relationships with existing customers; </font>
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          <font style="letter-spacing:0.2pt;">causing Bitdeer&#8217;s existing customers to substantially reduce the quantity of products and services to which they subscribe, seek price concessions, or go out of business, any of which would harm Bitdeer&#8217;s revenue; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">resulting in some of Bitdeer&#8217;s customers failing to comply with the terms of their agreements, including payment terms, due to economic uncertainty, financial hardship, and even failure of their businesses, which could result in Bitdeer being required to take action to collect payments, terminate their subscriptions for Bitdeer&#8217;s services, and increase accounts receivable and bad debt, any of which would increase Bitdeer&#8217;s expenses and harm Bitdeer&#8217;s revenue and results of operations; </font>
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          <font style="letter-spacing:0.2pt;">making it more difficult for Bitdeer to sell increased services or functionality to its existing customers; </font>
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          <font style="letter-spacing:0.2pt;">delaying prospective customers&#8217; decisions to subscribe to Bitdeer&#8217;s solutions, increase the length of sales cycles, or slow the typical growth in the use of Bitdeer&#8217;s solutions once customers have initially deployed its solutions; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">harming Bitdeer&#8217;s ability to effectively market and sell its solutions as a result of travel restrictions and social distancing orders; </font>
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          <font style="letter-spacing:0.2pt;">delaying the introduction of enhancements to Bitdeer&#8217;s solutions and market acceptance of any new features and products; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">harming Bitdeer&#8217;s ability to grow its worldwide sales and operations; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">harming Bitdeer&#8217;s ability to recruit, onboard and successfully integrate new employees, including members of its direct sales force; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">impacting the health and safety of Bitdeer&#8217;s employees, including its senior management team, and their ability to perform services; </font>
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          <font style="letter-spacing:0.2pt;">57</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">causing Bitdeer&#8217;s management team to continue to commit significant time, attention and resources to monitoring the COVID-19 pandemic and seeking to mitigate its effect on Bitdeer&#8217;s business and workforce. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">It is uncertain how long and how severely the COVID-19 pandemic may continue to impact Bitdeer. Significant uncertainties associated with the coronavirus remain, including with respect to the availability and efficacy of vaccines, the duration of the pandemic, the emergence of variant strains of COVID-19, and actions that may be taken by governmental authorities to contain the coronavirus or to treat its impact. The full impact of the coronavirus is unknown at this time. If the pandemic continues and lasts for a prolonged period in the regions where Bitdeer operates, such as cases resurgence in certain areas, the economy could suffer substantially from the measures and restrictions taken to combat the virus, which would, in turn, have an adverse impact on Bitdeer&#8217;s business prospects. Any significant disruption resulting from this or similar epidemics on a large scale or over a prolonged period of time could significantly interrupt Bitdeer&#8217;s business until it would be able to resume normal business operations, which will negatively affect Bitdeer&#8217;s financial condition. To the extent COVID-19 adversely affects Bitdeer&#8217;s business, financial condition and results of operations, it may also heighten some of the other risks described in this &#8220;Risk Factors&#8221; section. </font>
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        <div style="margin-top:11.32pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Risks Related to</font><font style="letter-spacing:-0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Cryptocurrencies</font><font style=" white-space:pre; text-decoration:underline #000000 solid;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:9.62pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Because there has been limited precedent set for financial accounting for Bitcoin and other cryptocurrencies, the determinations that Bitdeer has made for how to account for cryptocurrencies transactions may be subject to change.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The accounting rules and regulations that we must comply with are complex and subject to interpretation by the International Accounting Standards Board (the &#8220;IASB&#8221;), the SEC, and various bodies formed to promulgate and interpret appropriate accounting principles. A change in these principles or interpretations could have a significant effect on our reported financial results, and may even affect the reporting of transactions completed before the announcement or effectiveness of a change. Further, there has been limited precedents for the financial accounting of cryptocurrencies and related valuation and revenue recognition, and no official guidance has been provided by the IASB or the SEC. As such, there remains significant uncertainty on how companies can account for cryptocurrency transactions, cryptocurrencies, and related revenue. Uncertainties in or changes to in regulatory or financial accounting standards could result in the need to changing our accounting methods and restate our financial statements and impair our ability to provide timely and accurate financial information, which could adversely affect our financial statements, result in a loss of investor confidence, and more generally impact our business, operating results, and financial condition. </font>
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        <div style="margin-top:11.32pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Any loss or destruction of a private key required to access a cryptocurrency of Bitdeer&#8217;s is irreversible. Bitdeer also may temporarily lose access to its cryptocurrencies.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Cryptocurrencies are each accessible and controllable only by the possessor of both the unique public key and private key associated with the cryptocurrency, wherein the public and private keys are held in an offline or online digital wallet. To the extent a private key is lost, destroyed or otherwise compromised and no backup of the private key is available, Bitdeer will be unable to access the applicable cryptocurrency associated with that private key and the private key cannot be restored. As a result, any cryptocurrencies associated with such key could be irretrievably lost. Any loss of private keys relating to digital wallets used to store the applicable cryptocurrencies could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">In addition, Bitdeer may temporarily lose access to its cryptocurrencies as a result of software or systems upgrades or maintenance. In this case, Bitdeer would likely rely on third parties to assist in restoring its access, and there is no assurance such third parties will be able to restore access on a timely basis, or at all. Any temporary loss, if it occurs, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitcoin exchanges and wallets, and to a lesser extent, the Bitcoin network itself, may suffer from hacking and fraud risks, which may adversely erode user confidence in Bitcoin which would decrease the demand for Bitdeer&#8217;s products and services.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitcoin transactions are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. Hackers can target Bitcoin exchanges and Bitcoin transactions, to gain access to </font>
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          <font style="letter-spacing:0.2pt;">58</font>
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          <font style="letter-spacing:0.2pt;">thousands of accounts and digital wallets where Bitcoins are stored. Bitcoin transactions and accounts are not insured by any type of government program and all Bitcoin transactions are permanent because there is no third party or payment processor. Bitcoin has suffered from hacking and cyber-theft as such incidents have been reported by several cryptocurrency exchanges and miners, highlighting concerns about the security of Bitcoin and therefore affecting its demand and price. </font>
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          <font style="letter-spacing:0.2pt;">To the extent that cryptocurrency exchanges or other trading venues are involved in fraud or experience security failures or other operational issues, a reduction in cryptocurrency prices could occur. Cryptocurrency market prices depend, directly or indirectly, on the prices set on exchanges and other trading venues, which are new and, in most cases, largely unregulated as compared to established, regulated exchanges for securities, derivatives and other currencies. For example, during the past three&#160;years, a number of Bitcoin exchanges have been closed due to fraud, business failure or security breaches. In many of these instances, the customers of the closed Bitcoin exchanges were not compensated or made whole for the partial or complete losses of their account balances in such Bitcoin exchanges. Also, the price and exchange of Bitcoin may be affected due to fraud risk. While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false Bitcoins. All of the above may adversely affect the operation of the Bitcoin network which would erode user confidence in Bitcoin, which would negatively affect demand for Bitdeer&#8217;s products and services. In addition, smaller exchanges are less likely to have the infrastructure and capitalization that provide larger exchanges with additional stability, larger exchanges may be more likely to be appealing targets for hackers and &#8220;malware&#8221; &#8203;(i.e., software used or programmed by attackers to disrupt computer operation, gather sensitive information, or gain access to private computer systems) and may be more likely to be targets of regulatory enforcement action. </font>
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          <font style="letter-spacing:0.2pt;">For example, during the past three years, a number of Bitcoin exchanges have been closed due to fraud, business failure or security breaches. In many of these instances, the customers of the closed Bitcoin exchanges were not compensated or made whole for the partial or complete losses of their account balances in such Bitcoin exchanges. While smaller exchanges are less likely to have the infrastructure and capitalization that provide larger exchanges with additional stability, larger exchanges may be more likely to be appealing targets for hackers and &#8220;malware&#8221; &#8203;(i.e., software used or programmed by attackers to disrupt computer operation, gather sensitive information, or gain access to private computer systems) and may be more likely to be targets of regulatory enforcement action.</font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may not have adequate sources of recovery if the cryptocurrencies held by it are lost, stolen or destroyed due to third-party cryptocurrencies custodial services, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Substantially all of Bitdeer&#8217;s cryptocurrencies were held in custody by Matrix Finance and Technologies Holding Group and its subsidiaries (&#8220;Matrixport Group&#8221;), a related party, and Bitdeer&#8217;s disposal of cryptocurrencies, at spot price on the date of disposal, was primarily to Matrixport Group. For more details on Bitdeer&#8217;s custody agreements with Matrixport Group, see &#8220;Information Related to Bitdeer&#8201;&#8212;&#8201;Our Cryptocurrencies&#8201;&#8212;&#8201;Our Cryptocurrencies Storage and Custodial Practices&#8201;&#8212;&#8201;Agreements Related to Our Cryptocurrencies Storage and Custodial Practices.&#8221; Bitdeer believes that the security procedures that Matrixport Group utilizes, such as issuing username, password, and hardware tokens, are reasonably designed to safeguard its Bitcoin and other cryptocurrencies from theft, loss, destruction or other issues relating to hackers and technological attack. Nevertheless, the security procedures cannot guarantee the prevention of any loss due to a security breach, software defect or act of God that may be borne by Bitdeer. If such cryptocurrencies are lost, stolen or destroyed under circumstances rendering a third party liable to Bitdeer, it is possible that Matrixport Group may not have the financial resources or insurance sufficient to satisfy any or all of Bitdeer&#8217;s claims against the third party, or have the ability to retrieve, restore or replace the lost, stolen or destroyed cryptocurrencies due to governing network protocols and the strength of the cryptographic systems associated with such cryptocurrencies. To the extent that Bitdeer is unable to recover on any of its claims against any such third party, such loss could have a material adverse effect on its business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">Any material transaction between Bitdeer and Matrixport Group or its subsidiaries is subject to Bitdeer&#8217;s related person transaction policy. To the extent Bitdeer fails to appropriately deal with any such conflicts of interests, it could negatively impact Bitdeer&#8217;s reputation, the ability to raise additional funds and the willingness </font>
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          <font style="letter-spacing:0.2pt;">of counterparties to do business with Bitdeer, all of which could have adverse effect on Bitdeer&#8217;s business, financial condition, results of operations and cash flows.</font>
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          <font style="letter-spacing:-0.2pt;">The &#8220;halving&#8221; of rewards available on the Bitcoin network, or the reduction of rewards on other networks, has had and in the future could have a negative impact on Bitdeer&#8217;s ability to generate revenue as its customers may not have an adequate incentive to continue transaction processing and customers may cease transaction processing operations altogether, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Under the current protocols governing the Bitcoin network, the reward for validating a new block on that network is cut in half from time to time, which has been referred to in Bitdeer&#8217;s industry as the &#8220;halving.&#8221; When the Bitcoin network was first launched, the reward for validating a new block was 50 Bitcoin. In November&#160;2012, the reward for validating a new block was reduced to 25 Bitcoin. In July&#160;2016, the reward for validating a new block was reduced to 12.5 Bitcoin, and in May&#160;2020, the reward was further reduced to 6.25&#160;Bitcoin. The next halving for Bitcoin is expected in 2024 at block 840,000, when the reward will reduce to 3.125. In addition, other networks may operate under rules that, or may alter their rules to, limit the distribution of new cryptocurrencies. Bitdeer, and to Bitdeer&#8217;s knowledge, its potential hosting customers, currently rely on these rewards to generate a significant portion of Bitdeer&#8217;s total revenue. If the award of cryptocurrencies for solving blocks and transaction fees are not sufficiently high, neither Bitdeer nor its customers may have an adequate incentive to continue transaction processing and may cease transaction processing operations altogether, which as a result may significantly reduce demand for Bitdeer&#8217;s hosting services. As a result, the halving of available rewards on the Bitcoin network, or any reduction of rewards on other networks, would have a negative impact on Bitdeer&#8217;s revenue and may have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">In addition, the reduction of rewards may reduce Bitdeer&#8217;s profit margins, which could result in Bitdeer selling a substantial portion of its cryptocurrencies, which are subject to high volatility. If Bitdeer is forced to sell cryptocurrencies at low prices, it could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Malicious actors or botnet may obtain control of more than 50% of the processing power on the Bitcoin or other cryptocurrency network.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">If a malicious actor or botnet (a volunteer or hacked collection of computers controlled by networked software coordinating the actions of the computers) obtains a majority of the processing power dedicated to mining on the Bitcoin or other cryptocurrency network, it may be able to alter the blockchain on which the Bitcoin or other cryptocurrency network and most Bitcoin or other cryptocurrency transactions rely by constructing fraudulent blocks or preventing certain transactions from completing in a timely manner, or at all. The malicious actor or botnet could control, exclude, or modify the ordering of transactions, though it could not generate new cryptocurrencies or transactions using such control. The malicious actor could &#8220;double-spend&#8221; its own cryptocurrencies (i.e., spend the same cryptocurrencies in more than one transaction) and prevent the confirmation of other users&#8217; transactions for so long as it maintained control. To the extent that such malicious actor or botnet did not yield its control of the processing power on the cryptocurrency network, or the cryptocurrency community did not reject the fraudulent blocks as malicious, reversing any changes made to the blockchain may not be possible. </font>
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          <font style="letter-spacing:0.2pt;">Although there are no known reports of malicious activity or control of the Bitcoin blockchain achieved through controlling over 50% of the processing power on the network, it is believed that certain mining pools may have exceeded the 50% threshold. The possible crossing of the 50% threshold indicates a greater risk in that a single mining pool could exert authority over the validation of Bitcoin transactions. To the extent that the cryptocurrency ecosystems, including developers and administrators of mining pools, do not act to ensure greater decentralization of Bitcoin or other cryptocurrency mining processing power, the feasibility of a malicious actor obtaining control of the processing power on the cryptocurrency network will increase, which may adversely affect an investment in Bitdeer. </font>
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          <font style="letter-spacing:-0.2pt;">If there are significant changes to the method of validating blockchain transactions, such changes could harm Bitdeer&#8217;s proprietary mining business and reduce demand for Bitdeer&#8217;s products and services.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">New cryptocurrency transaction protocols are continuously being deployed, and existing and new protocols are in a state of constant change and development. While certain validation protocols currently </font>
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          <font style="letter-spacing:0.2pt;">employ a PoW consensus algorithm, whereby miners are required to expend significant amounts of electrical and computing power to solve complex mathematical problems in order to validate transactions and create new blocks in a blockchain, there may be a shift towards adopting alternative validating protocols. These protocols may include a PoS algorithm, PoC algorithm or any other algorithm based on a protocol other than PoW, which may decrease the reliance on computing power as an advantage to validating blocks. Bitdeer&#8217;s proprietary mining operations, and, to Bitdeer&#8217;s knowledge, the operations of Bitdeer&#8217;s potential hash rate sharing and hosting customers, are currently designed to primarily support a PoW consensus algorithm. Should the algorithm shift from a PoW validation method to others, mining would require less energy and may render any company that maintains advantages in the current climate (for example, from lower priced electricity, processing, real estate or hosting) less competitive. As a result of Bitdeer&#8217;s efforts to optimize and improve the efficiency of its cryptocurrency mining operations, Bitdeer may be exposed to the risk in the future of losing the benefit of Bitdeer&#8217;s capital investments and the competitive advantage Bitdeer hopes to gain from this as a result, and may be negatively impacted if a switch to protocols other than PoW were to occur. If Bitdeer cannot adapt to the new mining protocols quickly enough to keep pace with the market change, any such change to transaction validating protocols could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Growth in the popularity and use of other blockchain networks other than PoW cryptocurrency networks, may adversely affect Bitdeer&#8217;s business.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A consensus algorithm is the mechanism through which a blockchain network reach consensus. There are several types of consensus algorithms, the most common among which are Proof-of-Work (&#8220;PoW&#8221;), Proof-of-Stake (&#8220;PoS&#8221;), Delegated-Proof-of-Stake (&#8220;DPoS&#8221;), Proof-of-Space-Time (&#8220;PoST&#8221;), and Proof-of- Capacity (&#8220;PoC&#8221;). PoW is employed by Bitcoin and many other cryptocurrencies, according to which miners with higher computing power have better chances to find a valid solution for the next block. On the contrary, according to PoS, the creator of a new block is chosen in a deterministic way based on his or her stake, which is the number of coins he or she owns. As validation under PoS does not depend on computing power, PoS reduces the need for electricity and mining hardware. DPoS works similarly to PoS except it involves a voting and delegation mechanism to incentivize users to secure the network with their staked collateral. PoST and PoC are consensus mechanism algorithm used in blockchains that allows for mining devices in the network to use their available storage space and time to decide mining rights and validate transactions. PoST and PoC emerged as some of the many alternative solutions to the problem of high energy consumption in PoW systems and cryptocurrency hoarding in PoS systems.</font>
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          <font style="letter-spacing:0.2pt;">Currently, the original PoW cryptocurrency network, Bitcoin, enjoys a first-to-market advantage over other networks such as PoS networks and dominates the cryptocurrency markets as it was introduced by Satoshi Nakamoto back in 2009, way earlier than other cryptocurrencies, and since then grew into the most populator cryptocurrency. As of December 31, 2020, the market capitalization of Bitcoin was US$542,633.93 million, accounting for approximately 71% of the total capitalization of the global cryptocurrency market, according to Frost &amp; Sullivan. As of December 31, 2021, the market capitalization of Bitcoin was US$886,134.5 million, accounting for approximately 40% to 45% of the total capitalization of the global cryptocurrency market, according to Frost &amp; Sullivan. Bitcoin&#8217;s market capitalization and its share of the market capitalization of all cryptocurrencies fluctuate as other cryptocurrencies were introduced to the digital assets industry at a later time and became more mainstream for various reasons, and there is no guarantee that Bitcoin or other PoW cryptocurrency networks, will continue to enjoy such market leading position and could be is overtaken by another virtual asset. For example, as the cryptocurrency community continues to develop and advance PoS technologies, PoS networks may offer actual or perceived advantages over PoW networks. While Bitdeer intends to enrich its product and service portfolio by providing mining services covering new crypto protocols, including PoS, DPoS, PoST and PoC, and steadily increase the weight of new business to diversify revenue streams and attract new customers who are users of these new crypto protocols, Bitdeer&#8217;s services primarily support PoW protocol currently. Specifically, prior to the second half of 2021, Bitdeer&#8217;s business was limited to PoW protocol only; commencing from the second half of 2021, Bitdeer started to mine Filecoin, which adopted PoST protocol, on a proprietary basis, and to offer computing power sharing solutions regarding Filecoin mining under its </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business. If preferences in the cryptocurrency markets shift away from PoW networks and PoS networks achieve widespread adoption, it could attract users away from Bitcoin and the other PoW cryptocurrencies Bitdeer mines and the PoW related products mining </font>
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          <font style="letter-spacing:0.2pt;">services Bitdeer offers, which could have a material adverse effect on Bitdeer&#8217;s business and Bitdeer&#8217;s prospects or operations as there is no guarantee that Bitdeer will be able to adapt to new businesses swiftly enough, if at all.</font>
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          <font style="letter-spacing:-0.2pt;">The acceptance of Bitcoin network software patches or upgrades by a significant, but not overwhelming, percentage of the users and miners in the Bitcoin network could result in a &#8220;fork&#8221; in the blockchain, resulting in the operation of two separate networks that cannot be merged. The existence of forked blockchains could erode user confidence in Bitcoin and could adversely impact Bitdeer&#8217;s business, results of operations and financial condition.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitcoin is based on open-source software and has no official developer or group of developers that formally controls the Bitcoin network. Any individual can download the Bitcoin network software and make any desired modifications, which are proposed to users and miners on the Bitcoin network through software downloads and upgrades. However, miners and users must consent to those software modifications by downloading the altered software or upgrading and implementing the changes; otherwise, the changes do not become part of the Bitcoin network. Since the Bitcoin network&#8217;s inception, changes to the Bitcoin network have been accepted by the vast majority of users and miners, ensuring that the Bitcoin network remains a coherent economic system. However, a developer or group of developers could potentially propose a modification to the Bitcoin network that is not accepted by a vast majority of miners and users, but that is nonetheless accepted by a substantial population of participants in the Bitcoin network. In such a case, a fork in the blockchain could develop and two separate Bitcoin networks could result, one running the pre-modification software program and the other running the modified version. An example is the introduction of a cryptocurrency known as &#8220;Bitcoin cash&#8221; in mid-2017. This kind of split in the Bitcoin network could erode user confidence in the stability of the Bitcoin network, which could negatively affect the demand for Bitdeer&#8217;s services. </font>
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          <font style="letter-spacing:-0.2pt;">Cryptocurrency transactions are irrevocable and, if stolen or incorrectly transferred, cryptocurrencies may be irretrievable. As a result, any incorrectly executed cryptocurrency transactions could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Typically, cryptocurrency transactions are not, from an administrative perspective, reversible without the consent and active participation of the recipient of the transaction or, in theory, control or consent of a majority of the processing power on the applicable network. Once a transaction has been confirmed and verified in a block that is added to the network blockchain, an incorrect transfer of a cryptocurrency or a theft of a cryptocurrency generally will not be reversible and Bitdeer may not be capable of seeking compensation for any such transfer or theft. Although transfers of any cryptocurrencies Bitdeer holds will regularly be made to or from vendors, consultants, services providers, etc., it is possible that, through computer or human error, or through theft or criminal action, Bitdeer&#8217;s cryptocurrencies could be transferred from itself in incorrect amounts or to unauthorized third parties. To the extent that Bitdeer is unable to seek a corrective transaction with such third party or is incapable of identifying the third party that has received Bitdeer&#8217;s cryptocurrencies through error or theft, Bitdeer will be unable to revert or otherwise recover Bitdeer&#8217;s incorrectly transferred cryptocurrencies. To the extent that Bitdeer is unable to seek redress for such error or theft, such loss could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">The cryptocurrencies held by Bitdeer may be subject to loss, damage, theft or restriction on access, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition or results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">There is a risk that some or all of the cryptocurrencies held or hosted by Bitdeer could be lost, stolen or destroyed. Bitdeer believes that the cryptocurrencies held or hosted by itself and its mining operation will be an appealing target to hackers or malware distributors seeking to destroy, damage or steal Bitdeer&#8217;s cryptocurrencies. Bitdeer&#8217;s security procedures and operational infrastructure may be breached due to the actions of outside parties, error or malfeasance of one of Bitdeer&#8217;s employees, or otherwise, and, as a result, an unauthorized party may obtain access to Bitdeer&#8217;s cryptocurrency accounts, private keys, data or cryptocurrencies. Although Bitdeer implements a number of security procedures with various elements such as two-factor verification, segregated accounts and secured facilities and plans to implement the maintenance of data on computers and/or storage media that is not directly connected to, or accessible from, the internet and/or networked with other computers, or &#8220;cold storage,&#8221; to minimize the risk of loss, damage and theft, and </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer updates such security procedures whenever reasonably practicable, there is no guarantee that the prevention of such loss, damage or theft, whether caused intentionally, accidentally or by an act of God. </font>
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          <font style="letter-spacing:0.2pt;">Additionally, outside parties may attempt to fraudulently induce Bitdeer&#8217;s employees to disclose sensitive information in order to gain access to Bitdeer&#8217;s infrastructure. As the techniques used to obtain unauthorized access, disable or degrade service, or sabotage systems change frequently, or may be designed to remain dormant until a predetermined event, and often are not recognized until launched against a target, Bitdeer may be unable to anticipate these techniques or implement adequate preventative measures. As technological change occurs, the security threats to Bitdeer&#8217;s Bitcoin will likely adapt and previously unknown threats may emerge. Bitdeer&#8217;s ability to adopt technology in response to changing security needs or trends may pose a challenge to the safekeeping of Bitdeer&#8217;s cryptocurrencies. To the extent Bitdeer is unable to identify and mitigate or stop new security threats, Bitdeer&#8217;s cryptocurrencies may be subject to theft, loss, destruction or other attacks. </font>
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          <font style="letter-spacing:0.2pt;">Any of these events could expose Bitdeer to liability, damage its reputation, reduce customer confidence in Bitdeer&#8217;s products and services and otherwise have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. Furthermore, Bitdeer believes that as its assets grow, Bitdeer may become a more appealing target for security threats, such as hackers and malware. If an actual or perceived breach of Bitdeer&#8217;s cryptocurrency accounts occurs, the market perception of Bitdeer&#8217;s effectiveness could be harmed. </font>
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          <font style="letter-spacing:-0.2pt;">The impact of geopolitical, economic or other events on the supply of and demand for cryptocurrencies is uncertain, but could motivate large-scale sales of cryptocurrencies, which could result in a reduction in the price of such cryptocurrencies and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As an alternative to fiat currencies that are backed by central governments, cryptocurrencies, which are relatively new, are subject to supply and demand forces based upon the desirability of an alternative, decentralized means of buying and selling goods and services. It is unclear how this supply and demand will be impacted by geopolitical events. Nevertheless, political or economic crises may motivate large-scale acquisitions or sales of cryptocurrencies either globally or locally. Large-scale sales of cryptocurrencies likely would result in a reduction in the price of the subject cryptocurrency and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">In addition, the price of cryptocurrencies may be affected by the buying and selling of a significant amount of cryptocurrencies by a holder, or a group of holders. Any unforeseen actions by holders of a significant amount of cryptocurrencies, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Cryptocurrencies, including Bitcoin, face significant scaling obstacles that can lead to high fees or slow transaction settlement times and any mechanisms of increasing the scale of cryptocurrency settlement may significantly alter the competitive dynamics in the market.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Many cryptocurrencies face significant scaling obstacles that can lead to high fees or slow transaction settlement times, and attempts to increase the volume of transactions may not be effective. Scaling cryptocurrencies, and particularly Bitcoin, is essential to the widespread acceptance of cryptocurrencies as a means of payment, which is necessary to the growth and development of Bitdeer&#8217;s business. </font>
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          <font style="letter-spacing:0.2pt;">Many cryptocurrency networks face significant scaling challenges. For example, cryptocurrencies are limited with respect to how many transactions can occur per second. In this respect, Bitcoin may be particularly affected as it relies on the PoW validation, which due to its inherent characteristics may be particularly hard to scale to allow simultaneous processing of multiple daily transactions by users. Participants in the cryptocurrency ecosystem debate potential approaches to increasing the average number of transactions per second that the network can handle and have implemented mechanisms or are researching ways to increase scale, such as &#8220;sharding,&#8221; which is a term for a horizontal partition of data in a database or search engine, which would not require every single transaction to be included in every single miner&#8217;s or validator&#8217;s block. </font>
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          <font style="letter-spacing:0.2pt;">There is no guarantee that any of the mechanisms in place or being explored for increasing the scale of settlement of cryptocurrency transactions will be effective, how long they will take to become effective or </font>
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          <font style="letter-spacing:0.2pt;">whether such mechanisms will be effective for all cryptocurrencies. There is also a risk that any mechanisms of increasing the scale of cryptocurrency settlements may significantly alter the competitive dynamics in the cryptocurrency market, and may adversely affect the value of Bitcoin and the price of Bitdeer&#8217;s shares or the price of BTG ADSs and BTG Ordinary Shares after the completion of the Business Combination, any of which could have a material adverse effect on Bitdeer&#8217;s business, prospects, financial condition, and operating results. </font>
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          <font style="letter-spacing:-0.2pt;">To the extent that any miners cease to record transactions in solved blocks, transactions that do not include the payment of a transaction fee will not be recorded on the blockchain until a block is solved by a miner who does not require the payment of transaction fees. Any widespread delays in the recording of transactions could result in a loss of confidence in that cryptocurrency network, which could adversely impact an investment in Bitdeer.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">To the extent that any miners cease to record transactions in solved blocks, such transactions will not be recorded on the blockchain. Currently, there are no known incentives for miners to elect to exclude the recording of transactions in solved blocks; however, to the extent that any such incentives arise (e.g., a collective movement among miners or one or more mining pools forcing Bitcoin users to pay transaction fees as a substitute for or in addition to the award of new Bitcoins upon the solving of a block), actions of miners solving a significant number of blocks could delay the recording and confirmation of transactions on the blockchain. </font>
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          <font style="letter-spacing:0.2pt;">Any systemic delays in the recording and confirmation of transactions on the blockchain could result in greater exposure to double-spending transactions and a loss of confidence in certain or all cryptocurrency networks, which could have a material adverse effect on Bitdeer&#8217;s business, prospects, financial condition, and operating results. </font>
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          <font style="letter-spacing:-0.2pt;">Network congestion could result in high fees, delayed transactions, and a loss of confidence in that cryptocurrency network, which could adversely impact an investment in Bitdeer.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Rising adoption of blockchain networks leads to network congestion, as space on decentralized ledgers is inherently scarce. From a design standpoint, striking a balance between security, decentralization, and scalability (or transactional throughput) is the subject of great debate among innovators and has led to the creation of a variety of networks that make different trade-offs to achieve different outcomes. If network congestion rises to the point where transaction fees make it prohibitively expensive for average users to operate on the network, those users may stop using the network, and application developers may seek to build on other networks where users can afford to transact. </font>
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          <font style="letter-spacing:0.2pt;">Increasing growth and popularity of cryptocurrencies, initial coin offerings (&#8220;ICOs&#8221;) and security token offerings, as well as non-digital asset-related applications that utilize blockchain technology on certain networks, can cause congestion and backlog, and as result, increase latency on such networks. An increase in congestion and backlogs could result in longer transaction confirmation times, an increase in unconfirmed transactions (that is, transactions that have yet to be included in a block on a network and therefore are not yet completed transactions), higher transaction fees and an overall decrease in confidence in a particular network, which could ultimately affect Bitdeer&#8217;s ability to transact on that particular network and, in turn, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may diversify its business by mining or investing in additional cryptocurrencies which could require significant investment or expose Bitdeer to trading risks.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The field of cryptocurrencies is constantly expanding with around 10,000 types of cryptocurrencies in existence as of December&#160;2021. Bitdeer intends to evaluate the potential for mining or investing in existing, new and alternative cryptocurrencies. To the extent Bitdeer elects to commence activities to generate cryptocurrencies, Bitdeer would be required to invest Bitdeer&#8217;s assets either to obtain mining equipment configured to generate cryptocurrencies based on a PoW protocol or to post &#8220;stakes&#8221; to generate cryptocurrencies based on a PoS protocol. In addition, or in the alternative, Bitdeer may trade its cryptocurrencies for other cryptocurrencies on centralized or decentralized exchanges. Optimization of such trades may vary depending on the exchange on which the trade is conducted because Bitdeer may not have access to all exchanges on which such trades are available. Further, trading on centralized and decentralized exchanges may expose Bitdeer to additional risks if such exchanges experience breaches of security measures, </font>
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          <font style="letter-spacing:0.2pt;">system errors or vulnerabilities, software corruption, hacking or other irregularities. Any new cryptocurrency obtained through generation or trading may be more volatile or fail to increase in value compared to cryptocurrencies Bitdeer currently holds. As a result, any investment in different cryptocurrencies may not achieve Bitdeer&#8217;s goals, may be viewed negatively by analysts or investors and may negatively affect Bitdeer&#8217;s revenue and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">If the transaction fees for recording cryptocurrencies in a blockchain increase, demand for cryptocurrencies may be reduced and prevent the expansion of the networks to retail merchants and commercial businesses, resulting in a reduction in the acceptance or price of cryptocurrencies.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As the number of cryptocurrencies awarded for solving a block in a blockchain decreases, the incentive for mining participants to contribute processing power to networks will transition from a set reward to transaction fees. In order to incentivize mining participants to continue to contribute processing power to the networks, the network may transition from a set reward to transaction fees earned upon solving for a block. </font>
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          <font style="letter-spacing:0.2pt;">If mining participants demand higher transaction fees to record transactions in a blockchain or a software upgrade automatically charges fees for all transactions, the cost of using cryptocurrencies may increase and the marketplace may be reluctant to accept cryptocurrencies as a means of payment. Existing users may be motivated to switch from one cryptocurrency to another or back to fiat currency. Decreased use and demand for cryptocurrencies may adversely affect their value and result in a reduction in the value of Bitdeer&#8217;s common stock. </font>
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          <font style="letter-spacing:-0.2pt;">If the award of new cryptocurrencies and/or transaction fees for solving blocks is not sufficiently high to incentivize miners, such processors may reduce or cease expending processing power on a particular network, which could negatively impact the utility of the network, reduce the value of its cryptocurrencies and have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As the number of cryptocurrencies rewarded to miners for validating blocks in a network decreases, the incentive for miners to continue contributing processing power to the network may shift toward transaction fees. Such a shift may increase the transaction fees on a network. Higher transaction fees may reduce the utility of a network for an end user, which may cause end users to reduce or stop their use of that network. In such case, the price of the relevant cryptocurrency may decline substantially and could go to zero. Such reduced price and demand for, and use of, the relevant cryptocurrency and network, either as it applies to Bitdeer&#8217;s transaction processing services or to those of Bitdeer&#8217;s potential hosting customers, may have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Miners may sell a substantial number of cryptocurrencies into the market, which may exert downward pressure on the price of the applicable cryptocurrency and, in turn, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Transaction processing requires the investment of significant capital for the acquisition of hardware, leasing or purchasing space, involves substantial electricity costs and requires the employment of personnel to operate the data facilities, which may lead transaction processing operators to liquidate their positions in cryptocurrencies to fund these capital requirements. In addition, if the reward of new cryptocurrencies for transaction processing declines, and/or if transaction fees are not sufficiently high, profit margins for transaction processing operators may be reduced, and such operators may be more likely to sell a higher&#160;percentage of their cryptocurrencies. Whereas it is believed that individual operators in past&#160;years were more likely to hold cryptocurrencies for more extended periods, the immediate selling of newly transacted cryptocurrencies by operators may increase the supply of such cryptocurrencies on the applicable exchange market, which could create downward pressure on the price of the cryptocurrencies and, in turn, could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">To the extent that the profit margins of cryptocurrency mining operations are not high, mining participants are more likely to sell their earned Bitcoin, which could constrain Bitcoin prices.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Over the past few&#160;years, cryptocurrency mining operations have evolved from individual users mining with computer processors, graphics processing&#160;units and first-generation application-specific integrated circuit (&#8220;ASIC&#8221;) servers. Currently, new processing power is predominantly added by incorporated and </font>
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          <font style="letter-spacing:0.2pt;">unincorporated &#8220;professionalized&#8221; mining operations. Professionalized mining operations may use proprietary hardware or sophisticated ASIC machines acquired from ASIC manufacturers. They require the investment of significant capital to acquire this hardware, to lease operating space (often in datacenters or warehousing facilities), and to pay the costs of electricity and labor to operate the mining datacenters. As a result, professionalized mining operations are of a greater scale than prior mining operations and have more defined and regular expenses and liabilities. These regular expenses and liabilities require professionalized mining operations to maintain profit margins on the sale of cryptocurrencies. To the extent the price of cryptocurrencies declines and such profit margin is constrained, professionalized mining participants are incentivized to more immediately sell cryptocurrencies earned from mining operations, whereas it is believed that individual mining participants in past&#160;years were more likely to hold newly mined cryptocurrencies for more extended periods. The immediate selling of newly mined cryptocurrencies greatly increases the trading volume of the cryptocurrencies, creating downward pressure on the market price of cryptocurrency rewards. The extent to which the value of cryptocurrencies mined by a professionalized mining operation exceeds the allocable capital and operating costs determines the profit margin of such operation. A professionalized mining operation may be more likely to sell a higher&#160;percentage of its newly mined cryptocurrencies rapidly if it is operating at a low profit margin and it may partially or completely cease operations if its profit margin is negative. In a low profit margin environment, a higher&#160;percentage could be sold more rapidly, thereby potentially depressing cryptocurrency prices. Lower cryptocurrency prices could result in further tightening of profit margins for professionalized mining operations creating a network effect that may further reduce the price of cryptocurrencies until mining operations with higher operating costs become unprofitable forcing them to reduce mining power or cease mining operations temporarily. Such circumstances could have a material adverse effect on Bitdeer&#8217;s business, prospects or operations and potentially the value of Bitcoin and any other cryptocurrencies Bitdeer mines or otherwise acquire or hold for Bitdeer&#8217;s own account. </font>
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          <font style="letter-spacing:-0.2pt;">Cryptocurrencies and transactions may be subject to further taxation in the future.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In recent&#160;years, the rise of cryptocurrency prices and transaction volume has attracted the attention of tax authorities. As the laws governing cryptocurrencies are still evolving, the tax treatment of cryptocurrencies in various jurisdictions is subject to change. New laws or legislations, such as the ones introduced in the United States under the &#8220;Infrastructure Investment and Jobs Act,&#8221; commonly referred to as the &#8220;infrastructure bill,&#8221; which was signed into law on November&#160;15, 2021, will include tax reporting provisions that apply to cryptocurrencies. Introductions of more stringent provisions on reporting or surveillance of cryptocurrencies and cryptocurrencies will likely be an ongoing trend from authorities worldwide. Bitdeer cautions that these new provisions may direct or indirectly impact scrutiny and assessments in relation to taxation. While some countries have expressed an intention to or have imposed taxation on cryptocurrencies and transactions, other tax authorities have been silent. As there is considerable uncertainty over the taxation of cryptocurrencies, there is no guarantee that the cryptocurrencies and transactions denominated in cryptocurrencies will not be subject to further taxation in the future, including but not limited to additional taxes and increased tax rate. These events could reduce the economic return of cryptocurrency and increase the holding costs of cryptocurrencies, rendering the cryptocurrency mining solutions Bitdeer provides less attractive to customers, which could materially and adversely affect Bitdeer&#8217;s business, results of operations and financial condition. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Concerns about greenhouse gas emissions and global climate change may result in environmental taxes, charges, assessments or penalties and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The effects of human activity on global climate change have attracted considerable public and scientific attention, as well as the attention of the United States and other foreign governments. Efforts are being made to reduce greenhouse gas emissions, particularly those from coal combustion power plants, some of which plants Bitdeer may rely upon for power. The added cost of any environmental taxes, charges, assessments or penalties levied on such power plants could be passed on to Bitdeer, increasing the cost to run Bitdeer&#8217;s hosting facilities. Any enactment of laws or promulgations of regulations regarding greenhouse gas emissions by the United States, Norway, or any other domestic or foreign jurisdiction in which Bitdeer conducts business, could have a material adverse effect on Bitdeer&#8217;s business, financial condition or results of operations. </font>
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          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Risks Related to Regulatory Compliance and Other Legal Matters</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer is subject to tax risks related to Bitdeer&#8217;s multinational operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer is subject to taxes in various overseas jurisdictions where Bitdeer operates. Tax laws and practices applicable in the various jurisdictions Bitdeer operates in are complex and sophisticated, and Bitdeer faces risks of tax incompliance caused by misunderstanding of regional tax policies or different tax administration enforcement. Due to economic and political conditions, tax rates in various jurisdictions may be subject to significant changes. Bitdeer&#8217;s effective tax rates could be affected by changes in the mix of earnings in countries with different statutory tax rates, changes in the valuation of deferred tax assets and liabilities, or changes in tax laws or their interpretation. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer is also subject to the examination of tax returns and other tax matters by domestic and international tax authorities and governmental bodies. There can be no assurance as to the outcome of these examinations. If Bitdeer&#8217;s effective tax rates were to increase or if the ultimate determination of Bitdeer&#8217;s taxes owed is for an amount in excess of amounts previously accrued, Bitdeer&#8217;s financial condition, operating results and cash flows could be adversely affected. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s interactions with a blockchain may expose it to SDN or blocked persons or cause Bitdeer to violate provisions of law that did not contemplate distribute ledger technology.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The OFAC requires us to comply with its sanction program and not conduct business with persons named on its specially designated nationals (&#8220;SDN&#8221;) list. However, because of the pseudonymous nature of blockchain transactions, Bitdeer may, inadvertently and without its knowledge, engage in transactions with persons named on OFAC&#8217;s SDN list. Bitdeer&#8217;s internal policies prohibit any transactions with such SDN individuals, but it may not be adequately capable of determining the ultimate identity of the individual with whom it transacts with respect to Bitdeer cryptocurrency mining-related products and services. In addition, in the future, OFAC or another regulator, may require Bitdeer to screen transactions for OFAC addresses or other bad actors before including such transactions in a block, which may increase Bitdeer&#8217;s compliance costs, decrease Bitdeer&#8217;s anticipated transaction fees and lead to decreased traffic on Bitdeer&#8217;s network. Any of these factors, consequently, could have a material adverse effect on Bitdeer&#8217;s business, prospects, financial condition, and operating results. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Moreover, federal law prohibits any U.S. person from knowingly or unknowingly possessing any visual depiction commonly known as child pornography. Recent media reports have suggested that persons have embedded such depictions on one or more blockchains. Because Bitdeer&#8217;s business requires it to download and retain one or more blockchains to effectuate Bitdeer&#8217;s ongoing business, it is possible that such digital ledgers contain prohibited depictions without Bitdeer&#8217;s knowledge or consent. To the extent government enforcement authorities literally enforce these and other laws and regulations that are impacted by decentralized distributed ledger technology, Bitdeer may be subject to investigation, administrative or court proceedings, and civil or criminal monetary fines and penalties, all of which could harm Bitdeer&#8217;s reputation and could have a material adverse effect on Bitdeer&#8217;s business, prospects, financial condition, and operating results. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s mining datacenters may be located on property whose owner has not obtained the approval of relevant authorities, and it may be ordered to relocate from that property.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s mining datacenters where mining machines operate are located in different places around the world. Due to the unexpectable regulations that the governments may impose on the development of cryptocurrencies or cryptocurrency mining, the properties Bitdeer is renting currently may not be in accordance with local zoning ordinance. Such mining datacenters may be considered to be in violation of relevant zoning laws and the government may order the demolition or relocation of such datacenters. If Bitdeer is evicted from such property, it may need to find alternative properties and relocate Bitdeer&#8217;s mining datacenters. Unless Bitdeer is able to make timely alternative arrangements for relocating, it may not be able to fulfill purchase orders received, which may have a material and adverse effect on Bitdeer&#8217;s business, results of operations and financial condition. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may be involved in legal and other disputes from time to time arising out of Bitdeer&#8217;s operations, including disputes with Bitdeer&#8217;s suppliers, business partners, customers or employees.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer may from time to time be involved in disputes with various parties arising out of Bitdeer&#8217;s operations, including mining machines or electricity suppliers, business partners, customers or employees. These disputes may lead to protests or legal or other proceedings and may result in damage to Bitdeer&#8217;s reputation, substantial costs and diversion of resources and management&#8217;s attention from Bitdeer&#8217;s core business activities. In addition, Bitdeer may encounter compliance issues with regulatory bodies in the course of Bitdeer&#8217;s operations, in respect of which Bitdeer may face administrative proceedings or unfavorable rulings that may result in liabilities and cause delays or disruptions to Bitdeer&#8217;s services. Bitdeer may be involved in other proceedings or disputes in the future that may have a material adverse effect on Bitdeer&#8217;s business, financial condition, results of operations or cash flows. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may increasingly become a target for public scrutiny, including complaints to regulatory agencies, negative media coverage, and malicious allegations, all of which could severely damage Bitdeer&#8217;s reputation and materially and adversely affect Bitdeer&#8217;s business and prospects.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Certain features of cryptocurrency networks, such as decentralization, independence from sovereignty and anonymity of transactions, create the possibility of heightened attention from the public, regulators and the media. Heightened regulatory and public concerns over cryptocurrency-related issues may subject Bitdeer to additional legal and social responsibilities and increased scrutiny and negative publicity over these issues and even boycott by the rest of the mining community, due to Bitdeer&#8217;s leading position in the cryptocurrency mining industry. From time to time, these allegations, regardless of their veracity, may result in consumer dissatisfaction, public protests or negative publicity, which could result in government inquiry or substantial harm to Bitdeer&#8217;s brand, reputation and operations. Moreover, as Bitdeer&#8217;s business expands and grows, Bitdeer may be exposed to heightened public scrutiny in jurisdictions where Bitdeer already operates as well as in new jurisdictions where Bitdeer may operate. There is no assurance that Bitdeer would not become a target for regulatory or public scrutiny in the future or that scrutiny and public exposure would not severely damage Bitdeer&#8217;s reputation as well as Bitdeer&#8217;s business and prospects. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s insurance coverage is limited and may not be adequate to cover potential losses and liabilities. A significant uninsured loss or a loss in excess of Bitdeer&#8217;s insurance coverage could have a material adverse effect on Bitdeer&#8217;s results of operations and financial condition.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.11pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Risks associated with Bitdeer&#8217;s business and operations include, but are not limited to, business interruption due to regulatory changes, power shortages or network failure, product liability claims and losses of key personnel, any of which may result in significant costs or business disruption. In line with general market practice, Bitdeer does not have any business liability or disruption insurance to cover Bitdeer&#8217;s operations. However, Bitdeer&#8217;s current insurance policies may be insufficient in the event of a prolonged or catastrophic event. The occurrence of any such event that is not entirely covered by Bitdeer&#8217;s insurance policies may result in interruption of Bitdeer&#8217;s operations, subject Bitdeer to significant losses or liabilities and damage Bitdeer&#8217;s reputation as a provider of business continuity services. In addition, the property, transit and director and officer insurance policies Bitdeer has obtained may not cover all risks associated with Bitdeer&#8217;s business. It may not be possible, either because of a lack of available policies, limits on coverage or prohibitive cost, for Bitdeer to obtain insurance of any type that would cover losses associated with Bitdeer&#8217;s cryptocurrency portfolio. The occurrence of certain incidents including severe weather, earthquake, fire, war, power outages, flooding and the consequences resulting from them may not be covered by Bitdeer&#8217;s insurance policies adequately, or at all. If Bitdeer were subject to substantial liabilities that were not covered by its insurance, Bitdeer could incur costs and losses that could materially and adversely affect Bitdeer&#8217;s results of operations and financial condition. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The cryptocurrencies held by Bitdeer are not insured. Therefore, a loss may be suffered with respect to Bitdeer&#8217;s cryptocurrencies which is not covered by insurance and for which no person is liable in damages which could adversely affect Bitdeer&#8217;s operations and, consequently, an investment in Bitdeer. </font>
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          <font style="letter-spacing:-0.2pt;">Bitcoin mining activities are energy-intensive, which may restrict the geographic locations of mining machines and have a negative environmental impact.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitcoin mining activities are inherently energy-intensive and electricity costs account for a significant portion of the overall mining costs. The availability and cost of electricity will restrict the geographic locations </font>
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          <font style="letter-spacing:0.2pt;">of mining activities. Any shortage of electricity supply or increase in electricity cost in a jurisdiction may negatively impact the viability and the expected economic return for Bitcoin mining activities in that jurisdiction, which may in turn decrease the sales of Bitdeer&#8217;s Bitcoin mining machines in that jurisdiction. </font>
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          <font style="letter-spacing:0.2pt;">In addition, the significant consumption of electricity may have a negative environmental impact, including contribution to climate change, which may give rise to public opinion against allowing the use of electricity for Bitcoin mining activities or government measures restricting or prohibiting the use of electricity for Bitcoin mining activities. Any such development in the jurisdictions where Bitdeer sells its cryptocurrency mining-related products and services could have a material and adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s business operation and international expansion are subject to geopolitical risks.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s business operation and international expansion are subject to geopolitical risks. Any significant deterioration in Bitdeer&#8217;s business collaboration with Bitdeer&#8217;s partners may have a negative impact on the ability of Bitdeer&#8217;s business partners to produce or deliver the equipment or components Bitdeer needs, which could have a material and adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, there might be significant changes to United States trade policies, treaties and tariffs, including trade policies and tariffs regarding the Europe Union or other major economy entities. Countries may respond by imposing retaliatory trade measures against the United States. For details about international trade relations, see &#8220;Risks Related to Bitdeer&#8217;s Business, Operations, Industry and Financial Condition&#8201;&#8212;&#8201;Changes in international trade policies and international barriers to trade may have an adverse effect on Bitdeer&#8217;s business and expansion plans&#8221; in this section. Variations in the trade policies among different countries will significantly influence Bitdeer&#8217;s worldwide business and regional business relationship, which will materially and adversely affect Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s business operation and international expansion may have an intrinsic need for governmental interactions, and are therefore subject to higher corruption risks.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer requires significant power resources and related infrastructures to support cryptocurrency mining, and that Bitdeer&#8217;s business operates under a fast-changing regulatory landscape, both in terms of cryptocurrency and environmental regulations. Such business nature may pose an intrinsic need for Bitdeer to frequently interact with government authorities by, for example, accessing natural resources and engaging in lobbying activities with respect to any relevant regulatory changes. Frequent governmental interactions may pose higher corruption and bribery risks to Bitdeer. In addition, Bitdeer&#8217;s plan to expand internationally, including into jurisdictions which are considered high-risk from an anti-bribery and anti-corruption perspective, also heightens the corruption risks for Bitdeer. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer requires certain approvals, licenses, permits and certifications to operate. Any failure to obtain or renew any of these approvals, licenses, permits or certifications could materially and adversely affect Bitdeer&#8217;s business and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In accordance with the laws and regulations in the jurisdictions in which Bitdeer operates, Bitdeer is required to maintain certain approvals, licenses, permits and certifications, such as obtaining certificates of occupancy and passing electrical inspection for Bitdeer&#8217;s mining datacenters. Complying with such laws and regulations may require substantial expense, and any non-compliance may expose Bitdeer to liability. In the event of non-compliance, Bitdeer may have to incur significant expenses and divert substantial management time to rectify the incidents. In the future, if Bitdeer fails to obtain all the necessary approvals, licenses, permits and certifications, it may be subject to fines or the suspension of operations of the production facilities and research and development facilities that do not have all the requisite approvals, licenses, permits and certifications, which could materially and adversely affect Bitdeer&#8217;s business and results of operations. Bitdeer may also experience adverse publicity arising from non-compliance with government regulations, which would negatively impact Bitdeer&#8217;s reputation. </font>
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          <font style="letter-spacing:0.2pt;">There is no assurance that Bitdeer will be able to fulfill all the conditions necessary to obtain the required government approvals, or that relevant government officials will always, if ever, exercise their discretion in Bitdeer&#8217;s favor, or that Bitdeer will be able to adapt to any new laws, regulations and policies. There may also </font>
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          <font style="letter-spacing:0.2pt;">be delays on the part of government authorities in reviewing Bitdeer&#8217;s applications and granting approvals, whether due to the lack of human resources or the imposition of new rules, regulations, government policies or their implementation, interpretation and enforcement. If Bitdeer is unable to obtain, or experiences material delays in obtaining, necessary government approvals, Bitdeer&#8217;s operations may be substantially disrupted, which could materially and adversely affect Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may be subject to fines and other administrative penalties resulting from the operation of Bitdeer&#8217;s business, which could materially and adversely affect Bitdeer&#8217;s business, financial condition and results of operation.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer is a leading cryptocurrency mining service provider with a strong global presence. As of December 31, 2021, it operates five prime mining datacenters in the United States and Norway and served users across over 100 countries and regions around the globe, and may continue to expand Bitdeer&#8217;s operations to more countries and regions. Bitdeer is subject to regulation by the multiple government authorities in countries or regions where it has presence, and various jurisdictions may from time to time adopt laws, regulations or directives that affect Bitdeer&#8217;s businesses. Moreover, the relevant regulatory authorities possess significant powers to enforce applicable regulatory requirements in the event of Bitdeer&#8217;s non-compliance, including the imposition of fines, sanctions or the revocation of licenses or permits to operate Bitdeer&#8217;s business. Bitdeer is subject to regulatory risks with regards to mining, holding, using, or transferring cryptocurrencies, etc., and the uncertainty of the regulatory environment and Bitdeer&#8217;s ability to anticipate and respond to potential changes in government policies and regulations will have a significant impact on Bitdeer&#8217;s business operations in countries it operates in and Bitdeer&#8217;s overall results of operations. Regulations have impacted or could impact, among others, the nature of and scope of offerings Bitdeer is able to make available, the pricing of offerings on Bitdeer&#8217;s platform, Bitdeer&#8217;s relationship with, and incentives, fees and commissions provided to or charged from Bitdeer&#8217;s business partners, Bitdeer&#8217;s ability to operate in certain segments of Bitdeer&#8217;s business. Bitdeer expects that its ability to manage its relationships with regulators in each of its markets, as well as existing and evolving regulations will continue to impact its results in the future. Any misunderstanding or misinterpretation of the law and regulation could subject Bitdeer to, among others, the non-compliance investigation by the government authorities. There is no guarantee that Bitdeer will not face administrative fines or penalties concerning its operations or its subsidiaries, which could have a material adverse impact on its results of operation. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If counterfeit products and services are provided under Bitdeer&#8217;s brand names and trademarks, Bitdeer&#8217;s reputation and financial results could be materially and adversely affected.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Third-party service providers and dealers are separately responsible for sourcing counterfeit services that are performed under Bitdeer&#8217;s brand names and trademarks. Counterfeit services may be dissatisfying or inferior in quality as compared to authentic services. If Bitdeer&#8217;s customers are not satisfied by counterfeit services provided under Bitdeer&#8217;s brand names and trademarks, Bitdeer may be subject to reputational damage. Bitdeer believes its brand and reputation are important to its success and competitive position. The discovery of counterfeit services provided under Bitdeer&#8217;s brand names and trademarks may severally damage Bitdeer&#8217;s reputation and cause customers to refrain from making future purchases from it, which would materially and adversely affect Bitdeer&#8217;s business operations and financial results. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s hash rate sharing business may be subject to U.S. jurisdiction if Bitdeer is not able to avoid offering or selling its hash rate products to U.S. customers. Additionally, Bitdeer&#8217;s hash rate sharing business may be deemed as securities offerings in other jurisdictions where it is offered.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">To the extent that Bitdeer is appropriately restricting U.S. persons from obtaining its hash rate products, such business should not be subject to U.S. securities laws. However, whether Bitdeer is effective in avoiding U.S. jurisdiction by actually not offering or selling its hash rate products to U.S. customers would depend on, among others, the existence and effectiveness of measures adopted in practice against U.S. persons obtaining Bitdeer&#8217;s services, such as screening mechanisms and/or contractual restrictions over transfers of the contracts to U.S. persons in the secondary market. Additionally, Bitdeer&#8217;s hash rate sharing business may be deemed as securities offerings in other jurisdictions where it is offered. </font>
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          <font style="letter-spacing:-0.2pt;">If Bitdeer were deemed an &#8220;investment company&#8221; under the Investment Company Act of 1940, as amended, applicable restrictions could make it impractical for Bitdeer to continue its business as contemplated and could have a material adverse effect on Bitdeer&#8217;s business.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">An issuer will generally be deemed to be an &#8220;investment company&#8221; for purposes of the 1940 Act if: </font>
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          <font style="letter-spacing:0.2pt;">it is an &#8220;orthodox&#8221; investment company because it is or holds itself out as being engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting or trading in securities; or </font>
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          <font style="letter-spacing:0.2pt;">it is an inadvertent investment company because, absent an applicable exemption, it owns or proposes to acquire &#8220;investment securities&#8221; having a value exceeding 40% of the value of its total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer believes it is not and will not be primarily engaged in the business of investing, reinvesting or trading in securities, and Bitdeer does not hold itself out as being engaged in those activities. Bitdeer intends to hold itself out as a cryptocurrency mining business. Accordingly, Bitdeer does not believe that it is an &#8220;orthodox&#8221; investment company as described in the first bullet point above. </font>
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          <font style="letter-spacing:0.2pt;">While certain cryptocurrencies may be deemed to be securities, Bitdeer does not believe that certain other cryptocurrencies, in particular Bitcoin, are securities; therefore, it believes that less than 40% of Bitdeer&#8217;s total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis will comprise cryptocurrencies that could be considered investment securities. Accordingly, Bitdeer does not believe that Bitdeer is an inadvertent investment company by virtue of the 40% inadvertent investment company test as described in the second bullet point above. Although Bitdeer does not believe any of the cryptocurrencies it may own, acquire or mine are securities, there is still some regulatory uncertainty on the subject, see &#8220;&#8212; There is no one unifying principle governing the regulatory status of cryptocurrencies nor whether cryptocurrencies are securities in any particular context. Regulatory changes or actions in one or more countries may alter the nature of an investment in Bitdeer or restrict the use of cryptocurrencies, such as cryptocurrencies, in a manner that adversely affects Bitdeer&#8217;s business, prospects or operations.&#8221; If certain cryptocurrencies, including Bitcoin, were to be deemed securities, and consequently, investment securities by the SEC, Bitdeer could be deemed an inadvertent investment company. Investment company registration is time consuming and would require a restructuring of Bitdeer&#8217;s business. Moreover, the operation of an investment company is very costly and restrictive, as investment companies are subject to substantial regulation concerning management, operations, transactions with affiliated persons and portfolio composition, and the Investment Company Act filing requirements. The cost of such compliance would result in Bitdeer incurring substantial additional expenses, and the failure to register if required would have a materially adverse impact on its operations. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer intends to conduct its operations so that Bitdeer is not required to register as an investment company under the 1940 Act. Specifically, Bitdeer does not believe that cryptocurrencies, in particular Bitcoin, are securities. The SEC Staff has not provided guidance with respect to the treatment of these assets under the 1940 Act. To the extent the SEC Staff publishes new guidance with respect to these matters, Bitdeer may be required to adjust its strategy or assets accordingly. There can be no assurance that Bitdeer will be able to maintain its exclusion from registration as an investment company under the 1940 Act. In addition, as a consequence of its seeking to avoid the need to register under the 1940 Act on an ongoing basis, Bitdeer may be limited in its ability to engage in cryptocurrency mining operations or otherwise make certain investments, and these limitations could result in Bitdeer holding assets it may wish to sell or selling assets it may wish to hold, which could materially and adversely affect its business, financial condition and results of operations. </font>
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          <font style="letter-spacing:0.2pt;">If Bitdeer were to be deemed an inadvertent investment company, it may seek to rely on Rule&#160;3a-2 under the 1940 Act, which allows an inadvertent investment company a grace period of one year from the earlier of (a)&#160;the date on which the issuer owns securities and/or cash having a value exceeding 50% of the issuer&#8217;s total assets on either a consolidated or unconsolidated basis or (b)&#160;the date on which the issuer owns or proposes to acquire investment securities having a value exceeding 40% of the value of such issuer&#8217;s total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. Bitdeer is putting in place policies that it expects will work to keep the investment securities held by Bitdeer at less than 40% of its total assets, which may include acquiring assets with Bitdeer&#8217;s cash, liquidating Bitdeer&#8217;s investment securities or seeking no-action relief or exemptive relief from the SEC if Bitdeer is unable to acquire sufficient assets or liquidate sufficient investment securities in a timely manner. As Rule&#160;3a-2 is available to an issuer no more than once every three&#160;years, and assuming no other exclusion were available to Bitdeer, it would have to keep within the </font>
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          <font style="letter-spacing:0.2pt;">40% limit for at least three&#160;years after it ceases being an inadvertent investment company. This may limit Bitdeer&#8217;s ability to make certain investments or enter into joint ventures that could otherwise have a positive impact on Bitdeer&#8217;s earnings. If Bitdeer failed to take adequate steps within the one-year grace period for inadvertent investment companies, it would need to register with the SEC as an investment company under the Investment Company Act or cease almost all business, and its contracts would become voidable. In any event, Bitdeer does not intend to become an investment company engaged in the business of investing and trading securities. </font>
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          <font style="letter-spacing:0.2pt;">Finally, Bitdeer believes it is not an investment company under Section&#160;3(b)(1) of the 1940 Act because Bitdeer is primarily engaged in a non-investment company business. </font>
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          <font style="letter-spacing:0.2pt;">The 1940 Act and the rules thereunder contain detailed parameters for the organization and operations of investment companies. Among other things, the 1940 Act and the rules thereunder limit or prohibit transactions with affiliates, impose limitations on the issuance of debt and equity securities, prohibit the issuance of stock options, and impose certain governance requirements. Bitdeer intends to continue to conduct its operations so that it will not be deemed to be an investment company under the 1940 Act. However, if anything were to happen that would cause Bitdeer to be deemed to be an investment company under the 1940&#160;Act, requirements imposed by the 1940 Act, including limitations on Bitdeer&#8217;s capital structure, ability to transact business with affiliates and ability to compensate key employees, could make it impractical for Bitdeer to continue its business as currently conducted, impair the agreements and arrangements between and among Bitdeer and its senior management team and materially and adversely affect Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">There is no one unifying principle governing the regulatory status of cryptocurrencies nor whether cryptocurrencies are securities in any particular context. Regulatory changes or actions in one or more countries may alter the nature of an investment in Bitdeer or restrict the use of cryptocurrencies, such as cryptocurrencies, in a manner that adversely affects Bitdeer&#8217;s business, prospects or operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As cryptocurrencies have grown in both popularity and market size, governments around the world have reacted differently, with certain governments deeming cryptocurrencies illegal, and others allowing their use and trade without restriction. In some jurisdictions, such as in the U.S., cryptocurrencies, like cryptocurrencies, are subject to extensive, and in some cases overlapping, unclear and evolving regulatory requirements. </font>
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          <font style="letter-spacing:0.2pt;">Bitcoin is the oldest and most well-known form of cryptocurrency. Bitcoin and other forms of cryptocurrencies have been the source of much regulatory consternation, resulting in differing definitional outcomes without a single unifying statement. Bitcoin and other cryptocurrencies are viewed differently by different regulatory and standards setting organizations globally as well as in the United States on the federal and state levels. For example, the Financial Action Task Force considers a cryptocurrency as currency or an asset, and the Internal Revenue Service (&#8220;IRS&#8221;) considers a cryptocurrency as property and not currency. Further, the IRS applies general tax principles that apply to property transactions to transactions involving virtual currency. </font>
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          <font style="letter-spacing:0.2pt;">Furthermore, in the several applications to establish an exchange traded fund (&#8220;ETF&#8221;) of cryptocurrency, and in the questions raised by the Staff under the 1940 Act, no clear principles emerge from the regulators as to how they view these issues and how to regulate cryptocurrency under the applicable securities acts. It has been widely reported that the SEC has recently issued letters and requested various ETF applications be withdrawn because of concerns over liquidity and valuation and unanswered questions about absence of reporting and compliance procedures capable of being implemented under the current state of the markets for exchange traded funds. On April&#160;20, 2021, the U.S. House of Representatives passed a bipartisan bill titled &#8220;Eliminate Barriers to Innovation Act of 2021&#8221; &#8203;(H.R. 1602). If passed by the Senate and enacted into law, the bipartisan bill would create a cryptocurrency working group to evaluate the current legal and regulatory framework around cryptocurrencies in the United States and define when the SEC may have jurisdiction over a particular token or cryptocurrency (i.e., when it is a security) and when the U.S. Commodity Futures Trading Commission (the &#8220;CFTC&#8221;) may have jurisdiction (i.e., on derivatives of a cryptocurrency when it is a commodity). </font>
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          <font style="letter-spacing:0.2pt;">If regulatory changes or interpretations require the regulation of Bitcoin or other cryptocurrencies under the securities laws of the United States or elsewhere, including the Securities Act, the Exchange Act, the 1940 </font>
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          <font style="letter-spacing:0.2pt;">Act, and the Bank Secrecy Act or similar laws of other jurisdictions and interpretations by the SEC, the CFTC, the IRS, Department of Treasury or other agencies or authorities, Bitdeer may be required to register and comply with such regulations, including at a state or local level. To the extent that Bitdeer decides to continue operations, the required registrations and regulatory compliance steps may result in extraordinary expense or burdens to Bitdeer. Bitdeer may also decide to cease certain operations and change Bitdeer&#8217;s business model. Any disruption of Bitdeer&#8217;s operations in response to the changed regulatory circumstances may be at a time that is disadvantageous to it. </font>
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          <font style="letter-spacing:0.2pt;">Current and future legislation and SEC-rulemaking and other regulatory developments, including interpretations released by a regulatory authority, may impact the manner in which Bitcoin or other cryptocurrencies are viewed or treated for classification and clearing purposes. In particular, Bitcoin and other cryptocurrencies may not be excluded from the definition of &#8220;security&#8221; by SEC rulemaking or interpretation requiring registration of all transactions unless another exemption is available, including transacting in Bitcoin or other cryptocurrencies among owners and requiring registration of trading platforms as &#8220;exchanges.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">Furthermore, the SEC may determine that certain cryptocurrencies or interests, for example tokens offered and sold in ICOs, may constitute securities under the &#8220;Howey&#8221; test as stated by the United States Supreme Court. As such, ICO offerings would require registration under the Securities Act or an available exemption therefrom for offers or sales in the United States to be lawful. Section&#160;5(a) of the Securities Act provides that, unless a registration statement is in effect as to a security, it is unlawful for any person, directly or indirectly, to engage in the offer or sale of securities in interstate commerce. Section&#160;5(c) of the Securities Act provides a similar prohibition against offers to sell, or offers to buy, unless a registration statement has been filed. Although Bitdeer does not intend to be engaged in the offer or sale of securities in the form of ICO offerings, and Bitdeer does not believe its planned mining activities would require registration for it to conduct such activities and accumulate cryptocurrencies, the SEC, CFTC, Nasdaq, IRS or other governmental or quasi-governmental agency or organization may conclude that Bitdeer&#8217;s activities involve the offer or sale of &#8220;securities,&#8221; or ownership of &#8220;investment securities,&#8221; and it may be subject to regulation or registration requirements under various federal laws and related rules. Such regulation or the inability to meet the requirements to continue operations, would have a material adverse effect on Bitdeer&#8217;s business and operations. Bitdeer may also face similar issues with various state securities regulators who may interpret Bitdeer&#8217;s actions as subjecting it to regulation, or requiring registration, under state securities laws, banking laws, or money transmitter and similar laws, which are also an unsettled area or regulation that exposes Bitdeer to risks. </font>
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          <font style="letter-spacing:-0.2pt;">Regulatory changes or actions may restrict the use of cryptocurrencies or the operation of cryptocurrency networks in a manner that may require Bitdeer to cease certain or all operations, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Recently, there has been a significant amount of regulatory attention directed toward cryptocurrencies, cryptocurrency networks and other industry participants by United States federal and state governments, foreign governments and self-regulatory agencies. For example, as cryptocurrencies such as Bitcoin have grown in popularity and in market size, the Federal Reserve Board, U.S. Congress and certain U.S. agencies (e.g., FinCEN, the SEC, the CFTC and the Federal Bureau of Investigation) have begun to examine the operations of the Bitcoin network, Bitcoin users and Bitcoin exchange markets. </font>
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          <font style="letter-spacing:0.2pt;">In addition, local state regulators such as the Texas State Securities Board, the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth, the New Jersey Bureau of Securities, the North Carolina Secretary of State&#8217;s Securities Division and the Vermont Department of Financial Regulation have initiated actions against, and investigations of, individuals and companies involved in cryptocurrencies. </font>
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          <font style="letter-spacing:0.2pt;">Also, in March&#160;2018, the South Carolina Attorney General Office&#8217;s Security Division issued a cease-and-desist order against Genesis Mining and Swiss Gold Global, Inc., stating that both companies were to stop doing business in South Carolina and are permanently barred from offering securities in the state in the future since they offered unregistered securities via cloud mining contracts under the South Carolina Uniformed Securities Act of 2005, S.C. Code Ann. &#167;&#160;35-1-101, et seq. (the order against Genesis Mining was subsequently withdrawn). </font>
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          <font style="letter-spacing:0.2pt;">Further, the North Carolina Secretary of State&#8217;s Securities Division issued in March&#160;2018 a Temporary Cease and Desist Order against Power Mining Pool (made permanent pursuant to a Final Order on April&#160;19, 2018), ordering it to cease and desist, among other things, offering &#8220;mining pool shares,&#8221; which were deemed &#8220;securities&#8221; under N.C. Gen. Stat. 78A-2(11), in North Carolina until they are registered with the North Carolina Secretary of State or are offered for sale pursuant to an exemption from registration under the North Carolina Securities Act, N.C. Gen. Stat. Chapter 78A. </font>
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          <font style="letter-spacing:0.2pt;">Additionally, Bitdeer relies on third-party mining pool service providers for mining revenue payouts from Bitdeer&#8217;s mining operation, and certain of Bitdeer&#8217;s potential hosting customers could be involved in, or could issue, cloud mining contracts or mining pool shares, and any regulatory restrictions on their practices could significantly reduce demand for Bitdeer&#8217;s hosting services. Furthermore, it is possible that laws, regulations or directives that affect cryptocurrencies, cryptocurrency transaction processing or blockchain server hosting may change in a manner that may adversely affect Bitdeer&#8217;s ability to conduct Bitdeer&#8217;s business and operations in the relevant jurisdiction. </font>
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          <font style="letter-spacing:0.2pt;">In addition, various foreign jurisdictions either have adopted or may adopt laws, regulations or directives that affect cryptocurrencies, cryptocurrency networks and their users and hosting service providers that fall within such jurisdictions&#8217; regulatory scope. Such laws, regulations or directives may conflict with those of the United States, may negatively impact the acceptance of cryptocurrencies by users, merchants and service providers outside of the United States and may therefore impede the growth of cryptocurrency use. A number of countries, including India, South Korea and Russia, among others, currently have a more restrictive stance toward cryptocurrencies and, thereby, have reduced the rate of expansion of cryptocurrency use, as well as cryptocurrency transaction processing, in each of those countries. </font>
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          <font style="letter-spacing:0.2pt;">Governments may in the future take regulatory actions that prohibit or severely restrict the right to acquire, own, hold, sell, use or trade cryptocurrencies or to exchange cryptocurrencies for fiat currency. Ownership of, holding or trading in cryptocurrencies may then be considered illegal and subject to sanction. Governments may also take regulatory action that may increase the cost and/or subject cryptocurrency mining companies to additional regulation. </font>
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          <font style="letter-spacing:0.2pt;">By extension, similar actions by governments may result in the restriction of the acquisition, ownership, holding, selling, use or trading in the capital stock of cryptocurrency mining companies, including Bitdeer&#8217;s common stock. Such a restriction could result in Bitdeer liquidating its cryptocurrency inventory at unfavorable prices and may adversely affect Bitdeer&#8217;s shareholders. The effect of any regulatory change, either by federal, state, local or foreign governments or any self-regulatory agencies, on Bitdeer or its potential hosting customers is impossible to predict, but such change could be substantial and may require sBitdeer or its potential hosting customers to cease certain or all operations and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Current and future legislation and rulemaking regarding cryptocurrencies may result in extraordinary, non-recurring expenses and could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Current and future legislation and rulemaking by the CFTC and SEC or other regulators, including interpretations released by a regulatory authority, may impact the manner in which cryptocurrencies are treated. For example, cryptocurrencies derivatives are not excluded from the definition of &#8220;commodity future&#8221; by the CFTC. Furthermore, according to the CFTC, cryptocurrencies fall within the definition of a commodity under the Commodities Exchange Act (the &#8220;CEA&#8221;) and as a result, Bitdeer may be required to register and comply with additional regulations under the CEA, including additional periodic reporting and disclosure standards and requirements. Bitdeer may also be required to register as a commodity pool operator and to register as a commodity pool with the CFTC through the National Futures Association. If Bitdeer is required to register with the CFTC or another governmental or self-regulatory authority, the scope of Bitdeer&#8217;s business and operations may be constrained by the rules of such authority and it may be forced to incur additional expenses in the form of licensing fees, professional fees and other costs of compliance. </font>
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          <font style="letter-spacing:0.2pt;">The SEC has issued guidance and made numerous statements regarding the application of securities laws to cryptocurrencies. For example, on July&#160;25, 2017, the SEC issued a Report of Investigation (the &#8220;Report&#8221;) which concluded that tokens offered and sold by the Decentralized Autonomous Organization (&#8220;DAO&#8221;), a </font>
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          <font style="letter-spacing:0.2pt;">digital decentralized autonomous organization and investor-directed venture capital fund for cryptocurrencies, were issued for the purpose of raising funds. The Report concluded that these tokens were &#8220;investment contracts&#8221; within the meaning of Section&#160;2(a)(1) of the Securities Act and Section&#160;3(a)(10) of the Exchange Act, and therefore securities subject to the federal securities laws. In December&#160;2017, the SEC issued a cease-and-desist letter to Munchee Inc., ordering that the company stop its initial coin offering of MUN Tokens on the grounds that it failed to file a registration statement or qualify for an exemption from registration. Similar to the tokens issued by the DAO, the SEC found that the MUN Tokens satisfied the definition of an &#8220;investment contract,&#8221; and were therefore subject to the federal securities laws. In February&#160;2018, both the SEC and CFTC further reiterated their concerns regarding cryptocurrencies in written testimony to the Senate Banking, Housing and Urban Affairs Committee. On March&#160;7, 2018, the SEC released a &#8220;Statement on Potentially Unlawful Online Platforms for Trading Digital Assets,&#8221; and reiterated that, if a platform &#8220;offers trading of cryptocurrencies that are securities&#8221; and &#8220;operates as &#8216;exchange,&#8217; as defined by the federal securities laws,&#8221; the platform must register with the SEC as a national securities exchange or be exempt from registration. The SEC&#8217;s statement serves as a notice to operators of any platforms, including secondary market trading platforms, which the SEC is actively monitoring for potentially fraudulent or manipulative behavior in the market for security tokens, as the SEC has cautioned recently in the context of ICOs. On November&#160;16, 2018, the SEC released a &#8220;Statement on Digital Asset Securities Issuance and Trading,&#8221; and emphasized that market participants must adhere to the SEC&#8217;s well-established and well-functioning federal securities law framework when dealing with technological innovations, regardless of whether the securities are issued in certificated form or using new technologies, such as blockchain. This has all been followed by additional statements and guidance from the SEC including no-action letters relating to specific blockchain-based projects, and a Framework for &#8220;Investment Contract&#8221; Analysis of Digital Assets published by the Division of Corporation Finance on April&#160;3, 2019. In an August&#160;2021 interview, SEC Chairman Gensler signaled the SEC is contemplating a robust regulatory regime for cryptocurrencies and reiterated the SEC&#8217;s position that many cryptocurrencies are unregulated securities. </font>
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          <font style="letter-spacing:0.2pt;">The SEC has been active in asserting its jurisdiction over ICOs and cryptocurrencies and in bringing enforcement cases. The SEC has directed enforcement activity toward cryptocurrencies, and more specifically, ICOs. In September&#160;2017, the SEC created a new division known as the &#8220;Cyber Unit&#8221; to address, among other things, violations involving distributed ledger technology and ICOs, and filed a civil complaint in the Eastern District of New York charging a businessman and two companies with defrauding investors in a pair of so-called ICOs purportedly backed by investments in real estate and diamonds (see Securities and Exchange Commission v. REcoin Group Foundation, LLC, et al., Civil Action NO. 17-cv- 05725 (E.D.N.Y, filed Sept.&#160;29, 2017)). Subsequently, the SEC has filed several orders instituting cease-and-desist proceedings against (i)&#160;Carrier EQ, Inc., d/b/a AirFox and Paragon Coin, Inc. in connection with their unregistered offerings of tokens (see CarrierEQ, Inc., Rel. No. 33-10575 (Nov. 16, 2018) and Paragon Coin, Inc., Rel. No. 33-10574 (Nov. 16, 2018), respectively), (ii)&#160;Crypto Asset Management, LP for failing to register a hedge fund formed for the purpose of investing in cryptocurrencies as an investment company (see Crypto Asset Management, LP and Timothy Enneking, Rel. No. 33-10544 (Sept. 11, 2018)), (iii)&#160;TokenLot LLC for failing to register as a broker-dealer, even though it did not meet the definition of an exchange (see Tokenlot LLC, Lenny Kugel, and EliL. Lewitt, Rel. No. 33-10543 (Sept. 11, 2018)) and (iv)&#160;EtherDelta&#8217;s founder for failing either to register as a national securities exchange or to operate pursuant to an exemption from registration as an exchange after creating a platform that clearly fell within the definition of an exchange (see Zachary Coburn, Rel. No. 34- 84553 (Nov. 8, 2018)). </font>
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          <font style="letter-spacing:0.2pt;">On June&#160;4, 2019, the SEC filed a complaint in the U.S. District Court for the Southern District of New York against Kik Interactive, Inc. with respect to its September&#160;2017 offering of Kin. According to articles published by various news outlets, the SEC has allegedly issued numerous subpoenas and information requests to technology companies, advisers and individuals involved in the cryptocurrency space and ICOs, as part of a broad inquiry into the cryptocurrency market. </font>
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          <font style="letter-spacing:0.2pt;">Recently, a number of proposed ICOs have sought to rely on Regulation&#160;A and have filed with the SEC a Form 1-A covering a distribution of a digital token. Two such offerings were qualified in July&#160;2019. In addition, some token offerings have been commenced as private securities offerings intended to be exempt from SEC registration. Further, the SEC has yet to approve listing and trading any exchange-traded products (such as ETFs) holding cryptocurrencies. The SEC has taken various actions against persons or entities that have </font>
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          <font style="letter-spacing:0.2pt;">allegedly misused cryptocurrencies, engaged in fraudulent schemes (i.e., Ponzi scheme) and/or engaged in the sale of tokens that were deemed securities by the SEC. </font>
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          <font style="letter-spacing:0.2pt;">Although Bitdeer&#8217;s activities are not focused on raising capital or assisting others that do so, the federal securities laws are very broad. Bitdeer cannot provide assurance as to whether the SEC will continue or increase its enforcement with respect to cryptocurrencies or ICOs, including taking enforcement action against any person engaged in the sale of unregistered securities in violation of the Securities Act or any person acting as an unregistered investment company in violation of the Investment Company Act. Because the SEC has held that certain cryptocurrencies are securities based on the current rules and law, Bitdeer may be required to register and comply with the rules and regulations under federal securities laws. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer cannot be certain as to how future regulatory developments will impact the treatment of cryptocurrencies under the law, including, but not limited to, whether cryptocurrencies will be classified as a security, commodity, currency and/or new or other existing classification. Such additional regulations may result in extraordinary, non-recurring expenses, thereby materially and adversely affecting investment in Bitdeer. If Bitdeer determines not to comply with such additional regulatory and registration requirements, it may seek to cease certain or all of Bitdeer&#8217;s operations. Any such action could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Federal or state agencies may impose additional regulatory burdens on Bitdeer&#8217;s business. Changing laws and regulations and changing enforcement policies and priorities have the potential to cause additional expenditures, restrictions, and delays in connection with Bitdeer&#8217;s business operations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Federal and state laws and regulations may be subject to change or changes in enforcement policies or priorities, including changes that may result from changes in the political landscape and changing technologies. Future legislation and regulations, changes to existing laws and regulations, or interpretations thereof, or changes in enforcement policies or priorities, could require significant management attention and cause additional expenditures, restrictions, and delays in connection with Bitdeer&#8217;s business operations. </font>
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          <font style="letter-spacing:-0.2pt;">Increasing scrutiny and changing expectations from investors, lenders, customers, government regulators and other market participants with respect to Bitdeer&#8217;s Environmental, Social and Governance (&#8220;ESG&#8221;) policies may impose additional costs on Bitdeer or expose Bitdeer to additional risks.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Companies across all industries and around the globe are facing increasing scrutiny relating to their ESG policies. Investors, lenders and other market participants are increasingly focused on ESG practices and in recent&#160;years have placed increasing importance on the implications and social cost of their investments. In February&#160;2021, the Acting Chair of the SEC issued a statement directing the Division of Corporation Finance to enhance its focus on climate-related disclosure in public company filings and in March&#160;2021 the SEC announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The increased focus and activism related to ESG may hinder Bitdeer&#8217;s access to capital, as investors and lenders may reconsider their capital investment allocation as a result of their assessment of Bitdeer&#8217;s ESG practices. If Bitdeer does not adapt to or comply with investor, lender or other industry shareholder expectations and standards and potential government regulations, which are evolving but may relate to the suitable deployment of electric power, or which are perceived to have not responded appropriately to the growing concern for ESG issues, Bitdeer&#8217;s reputation may suffer which would have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer may be subject to risks associated with misleading and/or fraudulent disclosure or use by the creators of cryptocurrencies.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Generally, Bitdeer relies primarily on a combination of white papers and other disclosure documents prepared by the creators of applicable cryptocurrencies, as well as on Bitdeer&#8217;s management&#8217;s ability to obtain adequate information to evaluate the potential implications of transacting in these cryptocurrencies. However, such white papers and other disclosure documents and information may contain misleading and/or fraudulent statements (which may include statements concerning the creators&#8217; ability to deliver in a timely fashion the product and/or service disclosed in their white papers and other disclosure documents) and/or may not reveal any unlawful activities by the creators. Recently, there has been an increasing number of investigations and lawsuits by the SEC and the CFTC involving cryptocurrency creators for fraud and misappropriation, among </font>
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          <font style="letter-spacing:0.2pt;">other charges. Additionally, FinCEN has increased its enforcement efforts involving cryptocurrency creators regarding compliance with anti-money laundering and Know-Your-Customer laws. </font>
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          <font style="letter-spacing:0.2pt;">To the extent that any of these creators make misleading and/or fraudulent disclosures or do not comply with federal, state or foreign laws, or if Bitdeer is unable to uncover all material information about these cryptocurrencies and/or their creators, Bitdeer may not be able to make a fully informed business decision relating to Bitdeer&#8217;s transacting in or otherwise involving such cryptocurrencies, which could have a material adverse effect on Bitdeer&#8217;s business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer&#8217;s management and compliance personnel have limited experience handling a listed cryptocurrency mining-related services company, and Bitdeer&#8217;s compliance program has a recent history only.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s management and compliance personnel have limited experience in handling regulatory and compliance matters relating to a listed cryptocurrency mining-related services company. Bitdeer&#8217;s key compliance documents and compliance program also have a recent history only. While Bitdeer has been devoting a substantial amount of time and resources to various compliance initiatives, including but not limited to, recruiting a dedicated team of compliance expertise, Bitdeer cannot assure you the practical application and effectiveness of its compliance program, nor that there will not be a failure in detecting regulatory compliance issues which may adversely affect its reputation, business, financial condition and results of operations. </font>
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          <font style="letter-spacing:-0.2pt;">Risks Related to BSGA and the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Unless otherwise stated or unless the context otherwise requires, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;our company,&#8221; and &#8220;BSGA&#8221; refer to Blue Safari Group Acquisition Corp. </font>
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          <font style="letter-spacing:-0.2pt;">BSGA will be forced to liquidate the Trust Account if it cannot consummate a business combination by the date that is 12&#160;months from the closing of the IPO, or June&#160;14, 2022 (subject to extensions of up to 6&#160;months). In the event of a liquidation, BSGA&#8217;s public shareholders will receive US$10.00 per share and the BSGA Rights will expire worthless.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">If BSGA is unable to complete a business combination by the date that is 12&#160;months from the closing of the IPO, or June&#160;14, 2022 (subject to extensions of up to 6&#160;months), and is forced to liquidate, the per-share liquidation distribution will be US$10.10. Furthermore, there will be no distribution with respect to the BSGA Rights, which will expire worthless as a result of BSGA&#8217;s failure to complete a business combination. </font>
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          <font style="letter-spacing:-0.2pt;">You must tender your ordinary shares in order to validly seek redemption at the Extraordinary General Meeting. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In connection with tendering your shares for redemption, you must elect either to physically tender your share certificates to Continental or to deliver your ordinary shares to Continental electronically using DTC&#8217;s DWAC (Deposit/Withdrawal at Custodian) System, in each case at least two business days before the Extraordinary General Meeting. The requirement for physical or electronic delivery ensures that a redeeming holder&#8217;s election to redeem is irrevocable once the Business Combination is consummated. Any failure to observe these procedures will result in your loss of redemption rights in connection with the vote on the Business Combination. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If third parties bring claims against BSGA, the proceeds held in trust could be reduced and the per-share liquidation price received by BSGA Shareholders may be less than US$10.10.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA&#8217;s placing of funds in trust may not protect those funds from third party claims against BSGA. Although BSGA has received from many of the vendors, service providers (other than its independent accountants) and prospective target businesses with which it does business executed agreements waiving any right, title, interest or claim of any kind in or to any monies held in the Trust Account for the benefit of BSGA&#8217;s public shareholders, they may still seek recourse against the Trust Account. Additionally, a court may not uphold the validity of such agreements. Accordingly, the proceeds held in trust could be subject to claims which could take priority over those of BSGA&#8217;s public shareholders. If BSGA liquidates the Trust Account before the completion of a business combination and distributes the proceeds held therein to its public shareholders, the Sponsor has contractually agreed that it will be liable to ensure that the proceeds in the Trust </font>
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          <font style="letter-spacing:0.2pt;">77</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Account are not reduced by the claims of target businesses or claims of vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us, but only if such a vendor or prospective target business does not execute such a waiver. However, BSGA cannot assure you that they will be able to meet such obligation. Therefore, the per-share distribution from the Trust Account for our shareholders may be less than US$10.10 due to such claims. </font>
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          <font style="letter-spacing:0.2pt;">Additionally, if BSGA is forced to file a bankruptcy case or an involuntary bankruptcy case is filed against it which is not dismissed, the proceeds held in the Trust Account could be subject to applicable bankruptcy law, and may be included in BSGA&#8217;s bankruptcy estate and subject to the claims of third parties with priority over the claims of its shareholders. To the extent any bankruptcy claims deplete the Trust Account, BSGA may not be able to return US$10.10 to our public shareholders. </font>
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          <font style="letter-spacing:-0.2pt;">Any distributions received by BSGA Shareholders could be viewed as an unlawful payment if it was proved that immediately following the date on which the distribution was made, BSGA was unable to pay its debts as they fell due in the ordinary course of business.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BSGA&#8217;s Articles of Association provides that it will continue in existence only until the date that is 12&#160;months from the closing of the IPO, or June&#160;14, 2022, unless the initial shareholders request and the Board approves up to two extensions of six&#160;months. If BSGA is unable to consummate a transaction within the required time periods, including any applicable extensions, upon notice from BSGA, the trustee of the Trust Account will distribute the amount in its Trust Account to its public shareholders. Concurrently, BSGA shall pay, or reserve for payment, from funds not held in trust, its liabilities and obligations, although BSGA cannot assure you that there will be sufficient funds for such purpose. </font>
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          <font style="letter-spacing:0.2pt;">We expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be funded from amounts remaining out of the approximately US$1,500,000 of proceeds held outside the trust account, although we cannot assure you that there will be sufficient funds for such purpose. We will depend on sufficient interest being earned on the proceeds held in the trust account to pay any tax obligations we may owe. However, if those funds are not sufficient to cover the costs and expenses associated with implementing our plan of dissolution, to the extent that there is any interest accrued in the trust account not required to pay taxes on interest income earned on the trust account balance, we may request the trustee to release to us an additional amount of up to US$50,000 of such accrued interest to pay those costs and expenses. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">However, we may not properly assess all claims that may be potentially brought against us. As a result, our shareholders could potentially be liable for any claims to the extent of distributions received by them (but no more) and any liability of our shareholders may extend well beyond the third anniversary of the date of distribution. Accordingly, third parties may seek to recover from our shareholders amounts owed to them by us. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If, after we distribute the proceeds in the trust account to our public shareholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a &#8220;preferential transfer&#8221; or a &#8220;fraudulent conveyance.&#8221; As a result, a bankruptcy court could seek to recover all amounts received by our shareholders. In addition, our Board may be viewed as having breached its fiduciary duty to our creditors and/or having acted in bad faith, thereby exposing itself and us to claims of punitive damages, by paying public shareholders from the trust account prior to addressing the claims of creditors. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If BSGA&#8217;s due diligence investigation of Bitdeer was inadequate, then shareholders of BSGA following the Business Combination could lose some or all of their investment.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.11pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Even though BSGA conducted a due diligence investigation of Bitdeer, it cannot be sure that this diligence uncovered all material issues that may be present inside Bitdeer or its business, or that it would be possible to uncover all material issues through a customary amount of due diligence, or that factors outside of Bitdeer and its business and outside of its control will not later arise. </font>
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          <font style="letter-spacing:-0.2pt;">Shareholder litigation and regulatory inquiries and investigations are expensive and could harm BSGA&#8217;s business, financial condition and operating results and could divert management attention.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In the past, securities class action litigation and/or shareholder derivative litigation and inquiries or investigations by regulatory authorities have often followed certain significant business transactions, such as </font>
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          <font style="letter-spacing:0.2pt;">78</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">the sale of a company or announcement of any other strategic transaction, such as the Business Combination. Any shareholder litigation and/or regulatory investigations against BSGA, whether or not resolved in BSGA&#8217;s favor, could result in substantial costs and divert BSGA&#8217;s management&#8217;s attention from other business concerns, which could adversely affect BSGA&#8217;s business and cash resources and the ultimate value BSGA Shareholders receive as a result of the Business Combination. </font>
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          <font style="letter-spacing:-0.2pt;">The initial shareholders who own ordinary shares and private placement&#160;units will not participate in liquidation distributions and, therefore, they may have a conflict of interest in determining whether the Business Combination is appropriate.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As of the Record Date, the initial shareholders owned an aggregate of 5,750,000 ordinary shares and 292,500 ordinary shares underlying private placement&#160;units. They have waived their right to redeem these shares, or to receive distributions with respect to these shares upon the liquidation of the Trust Account if BSGA is unable to consummate a business combination. Based on a market price of US$10.12 per share on December 13, 2021, the value of these shares was approximately US$61.2 million. The ordinary shares acquired prior to the IPO will be worthless if BSGA does not consummate a business combination. Consequently, our directors&#8217; and officers&#8217; discretion in identifying and selecting Bitdeer as a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing of the Business Combination are appropriate and in BSGA&#8217;s public shareholders&#8217; best interest. </font>
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          <font style="letter-spacing:-0.2pt;">BSGA is requiring shareholders who wish to redeem their public shares in connection with a proposed business combination to comply with specific requirements for redemption that may make it more difficult for them to exercise their redemption rights prior to the deadline for exercising their rights.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BSGA is requiring shareholders who wish to redeem their ordinary shares to either tender their certificates to Continental or to deliver their shares to Continental electronically using the DTC&#8217;s DWAC (Deposit/</font>&#8203;<font style="letter-spacing:0.2pt;">Withdrawal At Custodian) System at least two business days before the Extraordinary General Meeting. In order to obtain a physical certificate, a shareholder&#8217;s broker and/or clearing broker, DTC and Continental will need to act to facilitate this request. It is BSGA&#8217;s understanding that shareholders should generally allot at least two weeks to obtain physical certificates from Continental. However, because we do not have any control over this process or over the brokers or DTC, it may take significantly longer than two weeks to obtain a physical stock certificate. While we have been advised that it takes a short time to deliver shares through the DWAC System, we cannot assure you of this fact. Accordingly, if it takes longer than BSGA anticipates for shareholders to deliver their ordinary shares, shareholders who wish to redeem may be unable to meet the deadline for exercising their redemption rights and thus may be unable to redeem their shares. </font></div>
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          <font style="letter-spacing:-0.2pt;">BSGA will require its public shareholders who wish to redeem their public shares in connection with the Business Combination to comply with specific requirements for redemption described above, such redeeming shareholders may be unable to sell their securities when they wish to in the event that the Business Combination is not consummated.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">If BSGA requires public shareholders who wish to redeem their public shares in connection with the proposed Business Combination to comply with specific requirements for redemption as described above and the Business Combination is not consummated, BSGA will promptly return such certificates to its public shareholders. Accordingly, investors who attempted to redeem their public shares in such a circumstance will be unable to sell their securities after the failed acquisition until BSGA has returned their securities to them. The market price for ordinary shares may decline during this time and you may not be able to sell your securities when you wish to, even while other shareholders that did not seek redemption may be able to sell their securities. </font>
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          <font style="letter-spacing:-0.2pt;">If BSGA&#8217;s security holders exercise their registration rights with respect to their securities, it may have an adverse effect on the market price of BSGA&#8217;s securities.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BSGA&#8217;s initial shareholders are entitled to make a demand that it register the resale of their insider shares at any time commencing three&#160;months prior to the date on which their shares may be released from escrow. Additionally, our initial shareholders, officers and directors are entitled to demand that BSGA register the resale of the shares underlying any securities our initial shareholders, officers, directors or their affiliates may </font>
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          <font style="letter-spacing:0.2pt;">79</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">be issued in payment of working capital loans made to us at any time after BSGA consummates a business combination. If such persons exercise their registration rights with respect to all of their securities, then there will be an additional 1,787,500 ordinary shares eligible for trading in the public market. The presence of these additional ordinary shares trading in the public market may have an adverse effect on the market price of BSGA&#8217;s securities. BSGA&#8217;s initial shareholders may sell all or a significant portion of these shares upon registration of such shares for resale even if the then trading price of BTG&#8217;s securities is considerably lower than the current trading price of the BSGA Ordinary Shares, which may further exacerbate the ability of securities of BSGA (or BTG upon Closing) to trade at a premium to its current market price. </font>
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          <font style="letter-spacing:-0.2pt;">If the Business Combination&#8217;s benefits do not meet the expectations of financial or industry analysts, the market price of BSGA&#8217;s securities (or BTG&#8217;s securities upon Closing) may decline.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The market price of BSGA&#8217;s securities (or BTG&#8217;s securities upon Closing) may decline as a result of the Business Combination if: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">BSGA does not achieve the perceived benefits of the acquisition as rapidly as, or to the extent anticipated by, financial or industry analysts; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">The effect of the Business Combination on the financial statements is not consistent with the expectations of financial or industry analysts. </font>
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          <font style="letter-spacing:0.2pt;">Accordingly, investors may experience a loss as a result of decreasing stock prices. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA&#8217;s directors and officers may have certain conflicts in determining to recommend the acquisition of</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font><font style="letter-spacing:-0.2pt;">Bitdeer, since certain of their interests, and certain interests of their affiliates and associates, are different from, or in addition to, your interests as a shareholder.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA&#8217;s management and directors have interests in and arising from the Business Combination that are different from, or in addition to, your interests as a shareholder, which could result in a real or perceived conflict of interest. These interests include the fact that certain of the ordinary shares owned by BSGA&#8217;s management and directors, or their affiliates and associates, would become worthless if the Business Combination Proposal is not approved and BSGA otherwise fails to consummate a business combination prior to June&#160;14, 2022 (unless such date is extended as described herein). Given the difference between (i)&#160;the purchase price that the Sponsor paid for the Founder Shares and (ii)&#160;the price of the Public Shares, and considering the substantial number of BTG Class&#160;A Ordinary Shares that the Sponsor will receive upon conversion of the Founder Shares, the Sponsor can earn a positive return on their investment, even if other BSGA shareholders have a negative return on their investment in BTG. </font>
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          <font style="letter-spacing:0.2pt;">In addition, the Sponsor, BSGA&#8217;s officers and directors, and their affiliates will benefit from the completion of a business combination, including in a manner that may not be aligned with the Public Shareholders. As such, the Sponsor and BSGA&#8217;s officers and directors may be incentivized to complete a business combination with a less favorable target company or on terms less favorable to Public Shareholders rather than to liquidate. For more details on the interests of the Sponsor and BSGA&#8217;s officers and directors, see &#8220;BSGA&#8217;s Directors and Executive Officers&#8201;&#8212;&#8201;Conflicts of Interest.&#8221; and &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Interests of BSGA Directors and Officers in the Business Combination.&#8221; </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA and Bitdeer have incurred and expect to incur significant costs associated with the Business Combination. Whether or not the Business Combination is completed, the incurrence of these costs will reduce the amount of cash available to be used for other corporate purposes by BSGA if the Business Combination is completed or by BSGA if the Business Combination is not completed.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.11pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA and Bitdeer expect to incur significant costs associated with the Business Combination. Whether or not the Business Combination is completed, BSGA expects to incur approximately US$6.5 million in expenses. These expenses will reduce the amount of cash available to be used for other corporate purposes by BSGA if the Business Combination is completed or by BSGA if the Business Combination is not completed. </font>
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          <font style="letter-spacing:-0.2pt;">BSGA will incur significant transaction costs in connection with transactions contemplated by the Merger Agreement.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA will incur significant transaction costs in connection with the Business Combination. If the Business Combination is not consummated, BSGA may not have sufficient funds to seek an alternative business combination and may be forced to liquidate and dissolve. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">80</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">In the event that a significant number of Public Shares are redeemed, BTG&#8217;s securities may become less liquid following the Business Combination.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If a significant number of public shares are redeemed, BSGA may be left with a significantly smaller number of shareholders. As a result, trading in the shares of BTG may be limited and your ability to sell your shares in the market could be adversely affected. BTG intends to apply to list its ADSs on Nasdaq, and Nasdaq may not list BTG&#8217;s securities, which could limit investors&#8217; ability to make transactions in BSGA&#8217;s securities and subject BSGA to additional trading restrictions. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BTG will be required to meet the initial listing requirements to be listed on the Nasdaq Stock Market. However, BTG may be unable to maintain the listing of its securities in the future.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If BTG fails to meet the initial listing requirements and the continued listing requirements upon listing and Nasdaq delists its securities, BSGA could face significant material adverse consequences, including: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">a limited availability of market quotations for its securities; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a limited amount of news and analyst coverage for the company; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">a decreased ability to issue additional securities or obtain additional financing in the future. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA may waive one or more of the conditions to the Business Combination without resoliciting shareholder approval for the Business Combination.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA may agree to waive, in whole or in part, some of the conditions to its obligations to complete the Business Combination, to the extent permitted by applicable laws. The Board will evaluate the materiality of any waiver to determine whether amendment of this proxy statement/prospectus and resolicitation of proxies is warranted. In some instances, if the Board determines that a waiver is not sufficiently material to warrant resolicitation of shareholders, BSGA has the discretion to complete the Business Combination without seeking further shareholder approval. For example, it is a condition to BSGA&#8217;s obligations to close the Business Combination that there be no restraining order, injunction or other order restricting Bitdeer&#8217;s conduct of its business, however, if the Board determines that any such order or injunction is not material to the business of Bitdeer, then the Board may elect to waive that condition without shareholder approval and close the Business Combination. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA Shareholders will experience immediate dilution as a consequence of the issuance of BTG Ordinary Shares as consideration in the Business Combination and from other dilution sources. Having a minority share position may reduce the influence that the non-redeeming BSGA shareholders have on the management of BTG upon Closing.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The issuance of additional BTG Ordinary Shares in the Business Combination will dilute the equity interests of the Public Shareholders and may adversely affect prevailing market prices for the Public Shares upon Closing. The Public Shareholders who do not redeem their Public Shares may experience dilution from a number of sources to varying degrees in connection with and after the Business Combination. The impact of dilution from the issuance of BTG Ordinary Shares in connection with and after the Business Combination on a fully diluted basis is as follows:</font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Approximately 385,546,461 BTG Ordinary Shares are anticipated to be issued to holders of Bitdeer Shares as consideration in the Business Combination, valued at US$10.00 per share. This issuance represents approximately (a)&#160;79.4% and 80.3%, respectively, of the number of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, under the no redemption scenario and the maximum redemption scenario, and (b) 95.1% and 95.3%, respectively, of the total voting power of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, assuming the no redemption scenario and the maximum redemption scenario. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">1,437,500 Founder Shares and 292,500 BSGA Class&#160;A Ordinary Shares currently held by the Sponsor and BSGA rights entitling the Sponsor to purchase 29,250 BSGA Class&#160;A Ordinary Shares will be converted into BTG Ordinary Shares in the Business Combination, valued at US$10.00 per share. These shares represent approximately (a)&#160;0.4% and 0.4%, respectively, of the number of BTG Ordinary </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">81</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Shares that will be outstanding following the consummation of the Business Combination, under the no redemption scenario and the maximum redemption scenario, and (b)&#160;0.1% and 0.1%, respectively, of the total voting power of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, under the no redemption scenario and the maximum redemption scenario. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">up to 14,453,539 BTG Ordinary Shares that may be issued upon conversion of US$30,000,000 principal amount of the Bitdeer Convertible Note. This issuance represents approximately (a)&#160;3.0% and 3.0%, respectively, of the number of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, under the no redemption scenario and the maximum redemption scenario, and (b)&#160;0.7% and 0.7%, respectively, of the total voting power of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, assuming the no redemption scenario and the maximum redemption scenario. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">up to 77,611,940 BTG Ordinary Shares that will be available for issuance under the Bitdeer Plan. This issuance represents (a)&#160;16.0% and 16.2%, respectively, of the number of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, under the no redemption scenario and the maximum redemption scenario, and (b)&#160;3.8% and 3.8%, respectively, of the total voting power of BTG Ordinary Shares that will be outstanding following the consummation of the Business Combination, assuming the no redemption scenario and the maximum redemption scenario. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Taking into consideration the foregoing sources of dilution, immediately after the consummation of the Business Combination, the Public Shareholders will hold (a)&#160;6,325,000 shares of BTG Ordinary Shares, or 1.3% of the outstanding BTG Ordinary Shares under the no redemption scenario and (b)&#160;575,000 shares of BTG Ordinary Shares, or 0.1 % of the outstanding BTG Ordinary Shares assuming that public shareholders exercise their redemption rights with respect to 5,750,000 Public Shares (the maximum amount of redemption) immediately after the consummation of the Business Combination. Following the consummation of the Business combination, the Public Shareholders will have approximately 0.3% and 0.0%, respectively, of the voting power under the no redemption scenario and the maximum redemption scenario, respectively. For more information, please see the section titled &#8220;Unaudited Pro Forma Condensed Combined Financial Information.&#8221;</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The issuance of additional BTG Ordinary Shares, including through any of the potential dilution sources, could have the following effects for Public Shareholders who elect not to redeem their shares:</font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">your proportionate ownership interest in BTG will decrease;</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the relative voting strength of each previously outstanding BTG Ordinary Shares will be diminished; and</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the market price of the BTG Ordinary Shares or ADSs representing such shares may decline. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The completion of the Business Combination is subject to a number of important conditions, and the Merger Agreement may be terminated before the completion of the Business Combination in accordance with its terms. As a result, there is no assurance that the Business Combination will be completed.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The completion of the Business Combination is subject to the satisfaction or waiver, as applicable, of a number of important conditions set forth in the Merger Agreement, including the approval of the Business Combination by the shareholders of BSGA, listing approval by Nasdaq, and several other customary closing conditions. If these conditions are not satisfied or, if applicable, waived by May&#160;31, 2022, the Merger Agreement may be terminated by either party and you will not receive the Merger Consideration. For more information, see &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;The Merger Agreement.&#8221; </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Unaudited Pro Forma Condensed Combined Financial Information included in this proxy statement/</font>&#8203;<font style="letter-spacing:-0.2pt;">prospectus may not be representative of our results after the Business Combination.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font></div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Unaudited Pro Forma Condensed Combined Financial Statements included elsewhere in this proxy statement/prospectus has been presented for informational purposes only and is not necessarily indicative of the financial position or results of operations that actually would have occurred had the transactions been consummated as of the dates indicated, nor is it indicative of BTG&#8217;s future operating results or financial </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">82</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">position after the assumed consummation of the transactions. The Unaudited Pro Forma Condensed Combined Financial Statements present the combination of our financial information and the financial information of Blue Safari after giving effect to the Business Combination and related adjustments described in the accompanying notes. See &#8220;Unaudited Pro Forma Condensed Combined Financial Information.&#8221; </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Unaudited Pro Forma Condensed Combined Financial Statements do not reflect future events that may occur, including any future nonrecurring charges resulting from the Business Combination, and does not consider potential impacts of current market conditions on revenue or expense. The Unaudited Pro Forma Condensed Combined Financial Statements are based in part on certain assumptions that we believe are reasonable under the circumstances. These assumptions may not prove to be accurate over time. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">You are being offered a fixed number BTG ADSs, which involves the risk of market fluctuations.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You will receive a fixed number of BTG ADSs representing BTG Ordinary Shares in the Business Combination, rather than BTG Ordinary Shares or BTG ADSs with a fixed market value. Consequently, the market value of BTG Ordinary Shares and BTG ADSs, and of the BSGA Ordinary Shares at the time of the completion of the Business Combination, may fluctuate significantly from the date of this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus, and the exchange ratio in the Business Combination might not be reflective of future market price ratios of BTG relative to BSGA securities. In addition, the market price of BSGA Ordinary Shares may be adversely affected by arbitrage activities occurring prior to the completion of the Business Combination. These sales, or the prospects of such sales in the future, could adversely affect the market price for, and the ability to sell in the market, BSGA Ordinary Shares before the Business Combination is completed and BTG Ordinary Shares and BTG ADSs after the Business Combination is completed. </font></div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Your ownership&#160;percentage in BTG will be less than the ownership&#160;percentage you currently hold in BSGA.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Your ownership&#160;percentage in BTG Ordinary Shares following the Business Combination will be less than your existing ownership&#160;percentage in Blue Safari as a result of dilution attributable to the relative equity values of the companies involved in the Business Combination. Immediately after the Business Combination, it is anticipated that (i)&#160;the former shareholders of Blue Safari will hold as a group approximately 2.1% of the BTG Ordinary Shares and (ii)&#160;the current shareholders of Bitdeer will hold as a group approximately 97.9% of the outstanding capital stock of BTG. As a result, you may have less influence over matters submitted to a vote of BTG shareholders. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Initial Mergers may be a taxable event for U.S. Holders of BSGA Class&#160;A Ordinary Shares or BSGA Rights. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Subject to the limitations and qualifications described in &#8220;Material Tax Considerations&#8201;&#8212;&#8201;Material U.S.&#160;Federal Income Tax Considerations&#8201;&#8212;&#8201;Consequences of the Business Combination,&#8221; BSGA intends to treat the Initial Mergers as a &#8220;reorganization&#8221; within the meaning of Section&#160;368 of the Code. If this treatment applies, a U.S. Holder (as defined in &#8220;Material Tax Considerations&#8201;&#8212;&#8201;Material U.S. Federal Income Tax Considerations&#8221;) of BSGA Class&#160;A Ordinary Shares will not recognize gain or loss on the exchange of the shares for BTG ADSs pursuant to the Business Combination. While it is not entirely clear, BSGA intends to take the position (to the extent required to do so) that U.S. Holders of BSGA Rights that exchange the underlying BSGA Class&#160;A Ordinary Shares pursuant to the Business Combination would be treated in the same manner. However, there can be no assurance that the IRS will not assert that the Initial Mergers (or either of the First SPAC Merger or the Second SPAC Merger) do not qualify as a reorganization within the meaning of Section&#160;368 of the Code, or otherwise as a tax-free transaction. In that case, a U.S. Holder that exchanges its BSGA Class&#160;A Ordinary Shares (including shares received upon the conversion of BSGA Rights) for BTG ADSs pursuant to the Business Combination will be required to recognize gain or loss equal to the difference between (i)&#160;the sum of the fair market value of the BTG ADSs received and (ii)&#160;the U.S. Holder&#8217;s adjusted tax basis in the BSGA Class&#160;A Ordinary Shares exchanged. In addition, unless the Initial Mergers qualify as an &#8220;F reorganization&#8221; it is possible that the passive foreign investment company (&#8220;PFIC&#8221;) rules, further described below, could apply to the transfer of the BSGA Class&#160;A Ordinary Shares or BSGA Rights pursuant to the Initial Mergers, depending on BSGA and BTG&#8217;s PFIC status. U.S. holders of BSGA Class&#160;A Ordinary Shares or BSGA Rights should consult their tax advisers regarding the U.S. federal income tax consequences of the Initial Mergers, including in the event that they do not qualify for a tax-free treatment. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">83</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Becoming a public company through a business combination rather than an underwritten offering presents risks to unaffiliated investors of BTG. Subsequent to the completion of the Business Combination, BTG may be required to subsequently take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on its financial condition, results of operations and the price of BTG securities, which could cause BTG shareholders to lose some or all of their investment.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A traditional initial public offering involves a company engaging underwriters to purchase its shares and resell them to the public. An underwritten offering imposes statutory liability on the underwriters for material misstatements or omissions contained in the registration statement unless they are able to sustain the burden of proving that they did not know and could not reasonably have discovered such material misstatements or omissions. This is referred to as a &#8220;due diligence&#8221; defense and results in the underwriters undertaking a detailed review of the business, financial condition and results of operations of the issuer and its subsidiaries. In a traditional initial public offering, investors may be able to recover damages from the underwriters in the event of misstatements and omissions in the registration statement and unavailability of the due diligence defense. Going public via a business combination with a special purpose acquisition company (&#8220;SPAC&#8221;) does not involve any underwriters and may therefore result in less extensive vetting of the operating company&#8217;s information that is presented to the public. In addition, going public via a business combination with a SPAC does not involve a book-building process as is the case in a traditional initial public offering. In a traditional initial public offering, the initial value of a company is set by investors who indicate the price at which they are prepared to purchase shares from the underwriters. In the case of a business combination involving a SPAC, the value of the target company is established by means of negotiations between the target company and the SPAC. The process of establishing the value of a target company in a SPAC business combination may be less effective than a traditional initial public offering book-building process and also does not reflect events that may have occurred between the date of the Merger Agreement and the Closing. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, while traditional initial public offerings are sometimes oversubscribed, resulting in additional potential demand for shares in the after-market following the initial public offering, there is no comparable process of generating investor demand in connection with a business combination between a target company and a SPAC, which may result in lower demand for BTG&#8217;s securities after the Closing, and in turn could decrease liquidity and trading prices as well as increase the trading volatility of BTG securities. Based on the assumptions set out elsewhere in this proxy statement/prospectus, out of the aggregate 393,688,211 BTG Ordinary Shares issued and outstanding upon consummation of the Business Combination, Mr. Jihan Wu will hold 171,698,826 BTG Class V Ordinary Shares, with ten votes per share, constituting approximately 88.6% of the voting power of the BTG Ordinary Shares voting together as a single class. Former Bitdeer shareholders other than Mr. Jihan Wu will own 213,847,635 BTG Class A ordinary Shares, constituting approximately 96.3% of the aggregate outstanding BTG Class A Ordinary Shares (in the form of ADSs), and approximately 11.0% of the voting power of the BTG Ordinary Shares (in the form of ADSs) voting together as a single class. This concentration of ownership may discourage, delay or prevent a change in control which could deprive shareholders of an opportunity to receive a premium to the trading price for the shares as part of a sale of BTG, and in turn could affect the market demand for BTG securities.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Becoming a public company through a business combination rather than an underwritten offering, as Bitdeer is seeking to do, presents risks to unaffiliated investors as described above. As a result, BTG, as the post-Business Combination company, may be forced to later write down or write off assets, restructure its operations, or incur impairment or other charges that could result in it reporting losses. Additionally, unexpected risks may arise and previously known risks may materialize. Even though these charges may be non-cash items and not have an immediate impact on BTG&#8217;s liquidity, the fact that BTG reports charges of this nature could contribute to negative market perceptions about it or its securities. In addition, charges of this nature may make it difficult for BTG to obtain future financing on favorable terms or at all. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Risks Related to BTG</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">A market for BTG ADSs may not develop, which would adversely affect the liquidity and price of BTG ADSs.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">An active trading market for BTG ADSs may never develop or, if developed, it may not be sustained. You may be unable to sell your BTG ADSs unless a market can be established and sustained. This risk will be </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">84</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">exacerbated if there is a high level of redemptions of Public Shares in connection with the Closing, which leads to a significantly reduced number of public shareholders holding BTG securities subsequent to the Closing. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The market price of BTG ADSs may be volatile, and you may lose some or all of your investment</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Upon consummation of the Business Combination at the Closing on the Closing Date, the price of BTG ADSs may fluctuate due to a variety of factors, including: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">changes in the industries in which Bitdeer operates; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">developments involving Bitdeer&#8217;s competitors; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">changes in laws and regulations affecting Bitdeer&#8217;s business; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.29pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.29pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">variations in Bitdeer&#8217;s operating performance and the performance of its competitors in general; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">actual or anticipated fluctuations in Bitdeer&#8217;s quarterly or annual operating results; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">publication of research reports by securities analysts about Bitdeer or its competitors or its industry; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the public&#8217;s reaction to Bitdeer&#8217;s press releases, its other public announcements and its filings with the SEC; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">actions by ADS holders in respect of any of their BTG ADSs; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.29pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.29pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">additions and departures of key personnel; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">commencement of, or involvement in, litigation involving BTG; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">changes in Bitdeer&#8217;s capital structure, such as future issuances of securities or the incurrence of debt; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the volume of BTG ADSs available for public sale; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">general economic and political conditions, such as the effects of the COVID-19 outbreak, recessions, volatility in the markets, interest rates, local and national elections, fuel prices, international currency fluctuations, corruption, political instability, and acts of war or terrorism. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BTG will be a &#8220;controlled company&#8221; within the meaning of the applicable Nasdaq listing rules and, as a result, will qualify for exemptions from certain corporate governance requirements. If BTG relies on these exemptions, you will not have the same protections afforded to shareholders of companies that are subject to such requirements. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Upon the closing of the Business Combination, Mr. Jihan Wu will control a majority of the voting power of BTG&#8217;s outstanding ordinary shares. As a result, BTG will be a &#8220;controlled company&#8221; within the meaning of applicable Nasdaq listing rules. Under these rules, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or another company is a &#8220;controlled company.&#8221; For so long as BTG remains a &#8220;controlled company,&#8221; it may elect not to comply with certain corporate governance requirements, including the requirements: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">that a majority of the board of directors consists of independent directors; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">for an annual performance evaluation of the nominating, corporate governance and compensation committees; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">that it has a nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the committee&#8217;s purpose and responsibilities; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">that it has a compensation committee that is composed entirely of independent directors with a written charter addressing the committee&#8217;s purpose and responsibility. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG intends to use these exemptions upon the closing of the Business Combination and it may continue to use all or some of these exemptions in the future. As a result, you may not have the same protections afforded to shareholders of companies that are subject to all of the Nasdaq corporate governance requirements. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">85</font>
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          <font style="letter-spacing:-0.2pt;">BTG will issue BTG Class&#160;A Ordinary Shares (in the form of ADSs), and BTG Class&#160;V Ordinary Shares convertible into BTG Class&#160;A Ordinary Shares (in the form of ADSs), as consideration for the Business Combination, and BTG may issue additional BTG Class&#160;A Ordinary Shares (in the form of ADSs) or other equity or convertible debt securities without approval of the holders of BTG Class&#160;A Ordinary Shares (in the form of ADSs), which would dilute existing ownership interests and may depress the market price of BTG Class&#160;A Ordinary Shares (in the form of ADSs).</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">It is anticipated that, following the Business Combination, (i)&#160;former Bitdeer shareholders (other than the Bitdeer Founders) are expected to own approximately 96.3% of the outstanding BTG Class&#160;A Ordinary Shares (in the form of ADSs), constituting approximately 11.0% of the voting power of the BTG Ordinary Shares (in the form of ADSs) voting together as a single class, (ii)&#160;the Bitdeer Founders are expected to own 100.0% of the outstanding BTG Class&#160;V Ordinary Shares, constituting approximately 88.6% of the voting power of the BTG Ordinary Shares voting together as a single class, (iii)&#160;former BSGA Shareholders are expected to own approximately 2.8% of the outstanding BTG Class&#160;A Ordinary Shares (in the form of ADSs), constituting approximately 0.3% of the voting power of the BTG Ordinary Shares (in the form of ADSs) voting together as a single class, and (iv)&#160;the BSGA Sponsor, the Sponsor Affiliates and directors are expected to own approximately 0.8% of the outstanding BTG Class&#160;A Ordinary Shares (in the form of ADSs), constituting 0.1% of the voting power of the BTG Ordinary Shares (in the form of ADSs) voting together as a single class. These&#160;percentages assume (i)&#160;none of Bitdeer&#8217;s outstanding restricted share&#160;units vest; (ii)&#160;no interest accrued on Bitdeer Convertible Note and (ii)&#160;the No Redemption Scenario. If the actual facts differ from these assumptions, these&#160;percentages will differ. </font>
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          <font style="letter-spacing:0.2pt;">BTG will continue to require significant capital investment to support its business, and BTG may issue additional BTG Class&#160;A Ordinary Shares (in the form of ADSs) or other equity or convertible debt securities of equal or senior rank in the future without approval of the holders of the BTG Class&#160;A Ordinary Shares (in the form of ADSs) in certain circumstances. </font>
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          <font style="letter-spacing:0.2pt;">BTG&#8217;s issuance of additional BTG Class&#160;A Ordinary Shares (in the form of ADSs) or convertible debt securities of equal or senior rank would have the following effects: (i)&#160;BTG&#8217;s existing holders&#8217; of ordinary shares (in the form of ADSs) proportionate ownership interest in BTG may decrease; (ii)&#160;the amount of cash available per BTG Ordinary Share (in the form of an ADS), including for payment of dividends in the future, may decrease; (iii)&#160;the relative voting power of each previously outstanding BTG Class&#160;A Ordinary Shares (in the form of ADSs) may be diminished; and (iv)&#160;the market price of BTG Class&#160;A Ordinary Shares (in the form of ADSs) may decline. Under certain circumstances, each BTG Class&#160;V Ordinary Share will automatically convert into one BTG Class&#160;A Ordinary Share (as adjusted for share splits, share combination and similar transactions occurring), but as the conversion ratio is one-to-one, such mandatory conversion would not have a dilutive effect. See &#8220;Description of BTG Securities&#8201;&#8212;&#8201;Ordinary Shares.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">Furthermore, employees, directors and consultants of BTG and its subsidiaries and affiliates hold, and after Business Combination, are expected to be granted equity awards under the BTG Incentive Plan. You will experience additional dilution when those equity awards become vested and exercised, for BTG Ordinary Shares (in the form of ADSs). See &#8220;The BTG Incentive Plan Proposal&#8201;&#8212;&#8201;Summary of the BTG Incentive Plan.&#8221; </font>
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          <font style="letter-spacing:-0.2pt;">BTG&#8217;s dual-class voting structure may limit your ability to influence corporate matters and could discourage others from pursuing any change of control transactions that holders of BTG&#8217;s Class A Ordinary Shares may view as beneficial.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BTG&#8217;s authorized and issued ordinary shares will be divided into Class A Ordinary Shares and Class V Ordinary Shares. Each Class A Ordinary Share will be entitled to one vote, while each Class V Ordinary Share will be entitled to ten (10) votes. Only BTG&#8217;s Class A Ordinary Shares will be listed and traded on Nasdaq, in the form of ADSs, and BTG intends to maintain the dual-class voting structure after the consummation of the Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">Mr. Jihan Wu will hold all of the outstanding BTG Class V Ordinary Shares. As a result, it is expected that Mr. Jihan Wu will, assuming a No Redemption Scenario and that all of Bitdeer&#8217;s outstanding stock options are exercised, control approximately 88.6% of the total voting power of all issued and outstanding BTG Ordinary Shares voting together as a single class immediately following the consummation of the </font>
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          <font style="letter-spacing:0.2pt;">Business Combination. Further Mr. Jihan Wu will, by virtue of his control of approximately 88.6% of that total voting power, effectively have the right to nominate, appoint and remove all of the board of directors. For further information, see &#8220;Description of BTG Securities.&#8221; </font>
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          <font style="letter-spacing:-0.2pt;">The dual-class structure of BTG&#8217;s ordinary shares may adversely affect price and liquidity of BTG ADSs.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">S&amp;P Dow Jones and FTSE Russell have recently announced changes to their eligibility criteria for inclusion of shares of public companies in certain indices, including the S&amp;P 500, to exclude companies with multiple classes of shares and companies whose public shareholders hold no more than 5% of total voting power from being added to such indices. In addition, several shareholder advisory firms have announced their opposition to the use of multiple class capital structures. As a result, the dual-class structure of BTG&#8217;s ordinary shares may prevent the inclusion of the BTG ADSs in such indices and may cause shareholder advisory firms to publish negative commentary about BTG&#8217;s corporate governance practices or otherwise seek to cause BTG to change its capital structure. Any such exclusion from indices could result in a less active trading market for the BTG ADSs. Any actions or publications by shareholder advisory firms critical of BTG&#8217;s corporate governance practices or capital structure could also adversely affect the value of the BTG ADSs. </font>
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          <font style="letter-spacing:-0.2pt;">Volatility in BTG&#8217;s ADS price could subject BTG to securities class action litigation.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In the past, securities class action litigation has often been brought against a company following a decline in the market price of its securities. If BTG faces such litigation, it could result in substantial costs and a diversion of management&#8217;s attention and resources, which could harm its business. </font>
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          <font style="letter-spacing:-0.2pt;">Future sales, or the possibility of future sales of, a substantial number of ADSs representing shares of BTG may depress the price of such securities.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Future sales of a substantial number of BTG Shares, including BTG Shares in the form of ADSs in the public market after the closing of the Business Combination, or the perception that these sales might occur, could depress the market price of BTG&#8217;s Shares and ADSs and could impair its ability to raise capital through the sale of additional equity securities. </font>
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          <font style="letter-spacing:-0.2pt;">The requirements of being a public company may strain BTG&#8217;s resources, divert BTG management&#8217;s attention and affect BTG&#8217;s ability to attract and retain qualified board members.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG will be subject to the reporting requirements of the Securities Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Act, Nasdaq listing requirements and other applicable securities rules and regulations. As such, BTG will incur additional legal, accounting and other expenses following the completion of the Business Combination. These expenses may increase even more if BTG no longer qualifies as an &#8220;emerging growth company,&#8221; as defined in Section&#160;2(a) of the Securities Act. The Exchange Act requires, among other things, that BTG file annual and current reports with respect to its business and operating results. The Sarbanes-Oxley Act requires, among other things, that BTG maintains effective disclosure controls and procedures and internal control over financial reporting. BTG may need to hire more employees post-Business Combination or engage outside consultants to comply with these requirements, which will increase its post-Business Combination costs and expenses. </font>
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          <font style="letter-spacing:0.2pt;">Changing laws, regulations and standards relating to corporate governance and public disclosure are creating uncertainty for public companies, increasing legal and financial compliance costs and making some activities more time-consuming. These laws, regulations and standards are subject to varying interpretations, in many cases due to their lack of specificity, and, as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. BTG expects these laws and regulations to increase its legal and financial compliance costs after the Business Combination and to render some activities more time-consuming and costly, although BTG is currently unable to estimate these costs with any degree of certainty. </font>
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          <font style="letter-spacing:0.2pt;">Many members of BTG&#8217;s management team will have limited experience managing a publicly traded company, interacting with public company investors and complying with the increasingly complex laws pertaining to public companies. BTG&#8217;s management team may not successfully or efficiently manage the </font>
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          <font style="letter-spacing:0.2pt;">transition to being a public company subject to significant regulatory oversight and reporting obligations under the federal securities laws and regulations and the continuous scrutiny of securities analysts and investors. The need to establish the corporate infrastructure demanded of a public company may divert the management&#8217;s attention from implementing its growth strategy, which could prevent BTG from improving its business, financial condition and results of operations. Furthermore, BTG expects these rules and regulations to make it more difficult and more expensive for BTG to obtain director and officer liability insurance, and consequently BTG may be required to incur substantial costs to maintain the same or similar coverage. These additional obligations could have a material adverse effect on its business, financial condition, results of operations and prospects. These factors could also make it more difficult for BTG to attract and retain qualified members of its board of directors, particularly to serve on BTG&#8217;s finance and audit committee and nomination and compensation committee, and to attract and retain qualified executive officers. </font>
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          <font style="letter-spacing:0.2pt;">As a result of disclosure of information in this proxy statement/prospectus and in filings required of a public company, BTG&#8217;s business and financial condition will become more visible, which BTG believes may result in threatened or actual litigation, including by competitors and other third parties. If such claims are successful, BTG&#8217;s business and operating results could be adversely affected, and, even if the claims do not result in litigation or are resolved in BTG&#8217;s favor, these claims, and the time and resources necessary to resolve them, could cause an adverse effect on its business, financial condition, results of operations, prospects and reputation. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer has identified a material weakness in its internal control over financial reporting. In the event of any failure to maintain an effective system of disclosure controls and internal control over financial reporting, BTG may not be able to accurately report its financial results or prevent fraud. As a result, ADS holders could lose confidence in BTG&#8217;s financial and other public reporting, which is likely to negatively affect BTG&#8217;s business and the market price of BTG ADSs.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Prior to the Closing of the Business Combination, Bitdeer has been a private company with limited accounting personnel and other resources with which to address Bitdeer&#8217;s internal controls and procedures. Bitdeer&#8217;s management has not completed an assessment of the effectiveness of Bitdeer&#8217;s internal control over financial reporting and Bitdeer&#8217;s independent registered public accounting firm has not conducted an audit of Bitdeer&#8217;s internal control over financial reporting. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer identified a material weakness in the design and operating effectiveness over financial reporting with respect to the Internal Control&#8201;&#8212;&#8201;Integrated Framework (2013 Framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), concerning in particular the control environment due to lack of sufficient financial reporting and accounting personnel with appropriate knowledge to design, implement and operate key controls over financial reporting process to address complex and emerging technical accounting issues and related disclosures in accordance with IFRS. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of Bitdeer&#8217;s annual or interim financial statements will not be prevented or detected on a timely basis. As a consequence of this material weakness, accounting errors were identified in Bitdeer&#8217;s combined statements of operations and comprehensive loss and cash flows for the&#160;years ended December&#160;31, 2019 and 2020 primarily related to revenue presentation in relation to the sales of mining machine business and the cash flow presentation related to the disposal of cryptocurrencies earned from revenue arrangements. The revenue and cost of revenue on the combined statements of operations and comprehensive loss and the operating and investing cash flows on the combined statements of cash flows have been restated as included in this proxy statement/prospectus. The material weakness could also result in other misstatements of Bitdeer&#8217;s accounts or disclosures, which may result in additional material misstatements in Bitdeer&#8217;s annual or interim financial statements that would not be prevented or detected. </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer has instituted plans to remediate the material weakness, including implementation of appropriate processes with the objective of improving the effectiveness of controls over financial reporting. In particular, Bitdeer expects to invest more resources in its design and execution of its Sarbanes-Oxley Act compliance program, such as reassessing existing entity-level controls and, as necessary, implementing enhancements to such controls. However, Bitdeer cannot predict the success of such plan or the outcome of its assessment of these plans at this time. If Bitdeer is unable to remediate the material weakness it has identified, or if it identifies additional material weaknesses in the future or otherwise fail to develop and maintain an effective system of </font>
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          <font style="letter-spacing:0.2pt;">internal controls, Bitdeer may not be able to produce timely and accurate financial statements. The failure to implement and maintain effective internal control over financial reporting could result in errors in Bitdeer&#8217;s financial statements that could result in a restatement of its financial statements, which in turn could have a material adverse effect on Bitdeer&#8217;s financial condition and results of operations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, BTG cannot assure you that BTG will not identify material weaknesses after the Business Combination. Upon becoming a public company, BTG will be subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations of the applicable listing standards of the Nasdaq. Any failure to implement and maintain effective internal control over financial reporting also could adversely affect the results of periodic management evaluations and annual independent registered public accounting firm attestation reports regarding the effectiveness of BTG&#8217;s internal control over financial reporting that BTG will eventually be required to include in BTG&#8217;s periodic reports that will be filed with the SEC. Ineffective internal control over financial reporting could expose BTG to increased risk of fraud or misuse of corporate assets and subject BTG to potential delisting from the stock exchange on which BTG is listed, regulatory investigations and civil or criminal sanctions. BTG may also be required to restate its financial statements from prior periods. If BTG fails to achieve and maintain an effective internal control environment, it could suffer material misstatements in its financial statements and fail to meet its reporting obligations, which would likely cause investors to lose confidence in BTG&#8217;s reported financial information. This could in turn limit BTG&#8217;s access to capital markets, harm its financial condition and results of operations, and lead to a decline in the market price of BTG ADSs</font>
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          <font style="letter-spacing:-0.2pt;">Recent market volatility could impact the stock price and trading volume of the BTG ADSs.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The trading market for the BTG ADSs could be impacted by recent market volatility. While Bitdeer does not believe that it is more likely to be affected by market volatility than other public companies, recent stock run-ups, divergences in valuation ratios relative to those seen during traditional markets, high short interest or short squeezes, and strong and atypical retail investor interest in the markets may impact the demand for the BTG ADSs. </font>
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          <font style="letter-spacing:0.2pt;">A possible &#8220;short squeeze&#8221; due to a sudden increase in demand of BTG ADSs that largely exceeds supply may lead to price volatility in the BTG ADSs. Investors may purchase BTG ADSs to hedge existing exposure or to speculate on the price of the BTG ADSs. Speculation on the price of BTG ADSs may involve both long and short exposures. To the extent aggregate short exposure exceeds the number of BTG ADSs available for purchase (for example, in the event that large redemption requests dramatically affect liquidity), investors with short exposure may have to pay a premium to repurchase BTG ADSs for delivery to lenders. Those repurchases may in turn, dramatically increase the price of the BTG ADSs. This is often referred to as a &#8220;short squeeze.&#8221; A short squeeze could lead to volatile price movements in the BTG ADSs that are not directly correlated to the operating performance of Bitdeer. </font>
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          <font style="letter-spacing:-0.2pt;">It is not expected that BTG will pay dividends in the foreseeable future after the Business Combination.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">It is expected that BTG will retain most, if not all, of its available funds and any future earnings after the Business Combination to fund the development and growth of its business. As a result, it is not expected that BTG will pay any cash dividends in the foreseeable future. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Following completion of the Business Combination, BTG&#8217;s board of directors will have complete discretion as to whether to distribute dividends. Even if the board of directors decides to declare and pay dividends, the timing, amount and form of future dividends, if any, will depend on the future results of operations and cash flow, capital requirements and surplus, the amount of distributions, if any, received by BTG from subsidiaries, BTG&#8217;s financial condition, contractual restrictions and other factors deemed relevant by the board of directors. There is no guarantee that the BTG ADSs will appreciate in value after the Business Combination or that the trading price of the BTG ADSs will not decline. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">If securities and industry analysts do not publish research or publish inaccurate or unfavorable research or cease publishing research about BTG, the price and trading volume of BTG ADSs could decline significantly.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The trading market for BTG ADSs will depend, in part, on the research and reports that securities or industry analysts publish about BTG or its business. BTG may be unable to sustain coverage by well-regarded </font>
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          <font style="letter-spacing:0.2pt;">89</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">securities and industry analysts. If either none or only a limited number of securities or industry analysts maintain coverage of BTG, or if these securities or industry analysts are not widely respected within the general investment community, the demand for BTG ADSs could decrease, which might cause its price and trading volume to decline significantly. In the event that BTG obtains securities or industry analyst coverage, if one or more of the analysts who cover BTG downgrade their assessment of BTG or publish inaccurate or unfavorable research about BTG&#8217;s business, the market price and liquidity for BTG ADSs could be negatively impacted. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BTG is a foreign private issuer within the meaning of the rules under the Exchange Act, and as such it is exempt from certain provisions applicable to domestic public companies in the United States.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Because BTG is a foreign private issuer under the Exchange Act, it is exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers, including: (i)&#160;the rules under the Exchange Act requiring the filing of quarterly reports on Form 10-Q or current reports on Form 8-K with the SEC; (ii)&#160;the sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act; (iii)&#160;the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and (iv)&#160;the selective disclosure rules by issuers of material nonpublic information under Regulation&#160;FD. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG will be required to file an annual report on Form 20-F within four&#160;months of the end of each fiscal year. In addition, BTG intends to publish its results on a quarterly basis through press releases, distributed pursuant to the rules and regulations of Nasdaq. Press releases relating to financial results and material events will also be furnished to the SEC on Form 6-K. However, the information Bitdeer is required to file with or furnish to the SEC will be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers. As a result, you may not be afforded the same protections or information, which would be made available to you, were you investing in a U.S. domestic issuer. </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">As an exempted company incorporated in the Cayman Islands, BTG is permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from Nasdaq corporate governance listing standards; these practices may afford less protection to ADS holders than they would enjoy if BTG complied fully with Nasdaq corporate governance listing standards.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG is an exempted company incorporated in the Cayman Islands, and, after the consummation of the Business Combination at the Closing on the Closing Date, will be listed on Nasdaq. Nasdaq market rules permit a foreign private issuer like BTG to follow the corporate governance practices of its home country. Certain corporate governance practices in the Cayman Islands, which is BTG&#8217;s home country, may differ significantly from Nasdaq corporate governance listing standards applicable to domestic U.S. companies. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Among other things, BTG is not required to have: (i)&#160;a majority of the board of directors consist of independent directors; (ii)&#160;a compensation committee consisting of independent directors; (iii)&#160;a nominating committee consisting of independent directors; or (iv)&#160;regularly scheduled executive sessions with only independent directors each year. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Although not required and as may be changed from time to time, BTG intends to have, as of the consummation of the Business Combination at the Closing on the Closing Date, a majority-independent board of directors, a majority-independent compensation committee and a nominating committee. Subject to the foregoing, BTG intends to rely on the exemptions listed above. As a result, you may not be provided with the benefits of certain corporate governance requirements of Nasdaq applicable to U.S. domestic public companies. See &#8220;BTG&#8217;s Directors and Officers Following the Business Combination&#8201;&#8212;&#8201;Foreign Private Issuer Status.&#8221; </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because BTG is incorporated under the law of the Cayman Islands, BTG conducts substantially all of its operations and a majority of its directors and executive officers reside outside of the United States.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BTG is an exempted company limited by shares incorporated under the laws of the Cayman Islands, and following the Business Combination, will conduct a majority of its operations through its subsidiary, Bitdeer, </font>
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          <font style="letter-spacing:0.2pt;">90</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">outside the United States. Substantially all of BTG&#8217;s assets are located outside of the United States. [All / A majority] of BTG&#8217;s officers and directors reside outside the United States and a substantial portion of the assets of those persons are located outside of the United States. As a result, it could be difficult or impossible for you to bring an action against BTG or against these individuals outside of the United States in the event that you believe that your rights have been infringed upon under the applicable securities laws or otherwise. Even if you are successful in bringing an action of this kind, the laws of the Cayman Islands and of the jurisdictions that comprise the Southeast Asian region could render you unable to enforce a judgment against BTG&#8217;s assets or the assets of BTG&#8217;s directors and officers. </font>
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          <font style="letter-spacing:0.2pt;">In addition, BTG&#8217;s corporate affairs will be governed by the amended and restated memorandum and articles of association of BTG, the Cayman Companies Act and the common law of the Cayman Islands. The rights of ADS holders are provided under the Deposit Agreement, which is governed by New York law. ADS holders must surrender their ADSs under the Deposit Agreement to withdraw the deposited Ordinary Shares and register their Ordinary Shares in BTG&#8217;s register of members in order to take action against the directors, actions by minority ADS or Ordinary Shareholders and the fiduciary duties of BTG&#8217;s directors to BTG under Cayman Islands law which are to a large extent governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands as well as from the common law of England, the decisions of whose courts are of persuasive authority, but are not binding, on a court in the Cayman Islands. The rights of BTG&#8217;s Ordinary Shareholders and the fiduciary duties of BTG&#8217;s directors under Cayman Islands law may not be as clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities laws than the United States. Some U.S. states, such as Delaware, may have more fully developed and judicially interpreted bodies of corporate law than the Cayman Islands. In addition, ADS holders of Cayman Islands companies do not, and shareholders of Cayman Islands companies may not, have standing to initiate a shareholder derivative action in a federal court of the United States. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">ADS holders have the right under the Deposit to inspect the books of ADS holders maintained by the Depositary solely for the purpose of communicating with ADS holders regarding the business of BTG or matters related to the Deposit Agreement or the ADSs. ADS holders wishing to obtain information concerning BTG must surrender their ADSs under the Deposit Agreement to withdraw the deposited Ordinary Shares and register their Ordinary Shares in BTG&#8217;s register of members to become an Ordinary Share holder of BTG. Shareholders of Cayman Islands exempted companies like BTG have no general rights under Cayman Islands law to inspect corporate records or to obtain copies of lists of shareholders of these companies. BTG&#8217;s directors will have discretion under the amended and restated memorandum and articles of association of BTG to determine whether or not, and under what conditions, BTG&#8217;s corporate records may be inspected by its Ordinary Shareholders, but BTG is not obliged to make them available to the Ordinary Shareholders. This may make it more difficult for you to obtain the information needed to establish any facts necessary for an ADS holder or a Shareholder to motion or to solicit proxies from other ADS holders or Shareholders in connection with a proxy contest. See &#8220;Description of BTG Securities&#8201;&#8212;&#8201;Ordinary Shares&#8201;&#8212;&#8201;Inspection of Books and Records&#8221; and &#8220;Description of BTG&#8217;s American Depositary Shares.&#8221; </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Certain corporate governance practices in the Cayman Islands, which is BTG&#8217;s home country, differ significantly from requirements for companies incorporated in other jurisdictions such as the United States. To the extent BTG chooses to follow home country practice with respect to corporate governance matters, its ADS holders and Shareholders may be afforded less protection than they otherwise would under rules and regulations applicable to U.S. domestic issuers. See &#8220;BTG&#8217;s Directors and Officers Following the Business Combination&#8201;&#8212;&#8201;Foreign Private Issuer Status.&#8221; </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As a result of all of the above, BTG&#8217;s ADS holders and Shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members of the board of directors or controlling ADS holders or Shareholders than they would as public shareholders of a company incorporated in the United States. </font>
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        <div style="margin-top:11.72pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BTG is an &#8220;emerging growth company,&#8221; as defined under the federal securities laws, and BTG cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make the BTG ADSs less attractive to investors.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BTG is an &#8220;emerging growth company,&#8221; as defined in the Securities Act, and BTG intends to take advantage of certain exemptions from various reporting requirements that are applicable to other public </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">companies that are not emerging growth companies, including, among other things, not being required to comply with the auditor attestation requirements of Section&#160;404(b) of the Sarbanes-Oxley Act, and reduced disclosure obligations regarding executive compensation and exemptions from the requirements of holding a nonbinding shareholder advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. As a result, holders of BTG ADSs and BTG Ordinary Shares may not have access to certain information that they may deem important. </font>
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          <font style="letter-spacing:0.2pt;">BTG will remain an emerging growth company until the earlier of (i)&#160;the last day of the fiscal year (a) following the fifth anniversary of the closing of the Business Combination, (b) in which BTG has total annual gross revenues of at least US$1.07 billion, (c) or in which BTG is deemed to be a large accelerated filer, which means the market value of BTG&#8217;s Shares (including BTG Ordinary Shares represented by ADSs) that is held by non-affiliates exceeds US$700&#160;million as of the last business day of BTG&#8217;s prior second fiscal quarter, and (ii) the date on which BTG issued more than US$1.0 billion in non-convertible debt during the prior three-year period. If some investors find the BTG ADSs less attractive as a result, there may be a less active trading market for the BTG ADSs, the price of BTG ADSs may be more volatile and the price of the BTG ADSs may decline. </font>
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          <font style="letter-spacing:-0.2pt;">Holders of ADSs have fewer rights than direct holders of the BTG Ordinary Shares and must act through the Depositary to exercise their rights. The voting rights of holders of ADSs are limited by the terms of the Deposit Agreement, and ADS holders may not be able to exercise their right to vote their BTG Securities directly.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Holders of BTG ADSs do not have the same rights as shareholders of BTG who hold BTG Ordinary Shares directly. Holders of the BTG ADSs will only be able to exercise the voting rights with respect to the underlying BTG Ordinary Shares in accordance with the provisions of the Deposit Agreement to be entered into by BTG and BNY Mellon, as the Depositary. The holders and beneficial owners of the BTG ADSs will be parties to and bound by the terms of the Deposit Agreement for the BTG ADSs they own. Under the Deposit Agreement, holders of BTG ADSs must vote by giving voting instructions to the Depositary. If BTG asks for instructions of the holders of BTG ADSs, then upon receipt of such voting instructions, the Depositary will try to vote the underlying BTG Ordinary Shares in accordance with these instructions. Holders of BTG ADSs will not be able to directly exercise their right to vote with respect to the underlying BTG Ordinary Shares unless they present their BTG ADSs for cancellation and withdraw their BTG Ordinary Shares prior to the applicable record date for the shareholders&#8217; meeting. When a general meeting is convened, a holder of BTG ADSs may not receive sufficient advance notice to withdraw the BTG Ordinary Shares underlying his or her BTG ADSs to allow such holder to vote with respect to any specific matter. If BTG asks for instructions of holders of BTG ADSs, the Depositary will notify holders of BTG ADSs of the upcoming vote and will arrange to deliver voting materials to the holders of BTG ADSs. BTG has agreed to give the Depositary prior notice of shareholders&#8217; meetings. Nevertheless, BTG cannot assure you that holders of BTG ADSs will receive the voting materials in time to ensure that they can instruct the Depositary to vote the underlying BTG Ordinary Shares. In addition, the Depositary and its agents are not responsible for failing to carry out voting instructions or for their manner of carrying out voting instructions received from holders of BTG ADSs. This means that a holder of BTG ADSs may not be able to exercise the right to vote and may have no legal remedy if the BTG Ordinary Shares underlying his or her BTG ADSs are not voted as such holder requested. </font>
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          <font style="letter-spacing:-0.2pt;">[The Depositary will give BTG a discretionary proxy to vote the BTG Ordinary Shares underlying the BTG ADSs if the holders of such BTG ADSs do not give timely voting instructions to the Depositary, except in limited circumstances, which could adversely affect the interests of holders of the BTG ADSs.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Under the Deposit Agreement for the BTG ADSs, if any holder of the BTG ADSs does not vote, the Depositary will give BTG a discretionary proxy to vote its BTG Ordinary Shares underlying such BTG ADSs at shareholders&#8217; meetings unless: </font>
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          <font style="letter-spacing:0.2pt;">BTG has failed to timely provide the Depositary with notice of the shareholders&#8217; meeting and related voting materials; </font>
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          <font style="letter-spacing:0.2pt;">BTG has instructed the Depositary that it does not wish a discretionary proxy to be given; </font>
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          <font style="letter-spacing:0.2pt;">BTG has informed the Depositary that there is substantial opposition as to a matter to be voted on at the shareholders&#8217; meeting; or </font>
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          <font style="letter-spacing:0.2pt;">92</font>
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          <font style="letter-spacing:0.2pt;">a matter to be voted on at the shareholders&#8217; meeting would have a material adverse impact on shareholders of BTG. </font>
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          <font style="letter-spacing:0.2pt;">The effect of this discretionary proxy is that if any such holder of the BTG ADSs does not provide timely and valid voting instructions, such holder cannot prevent the BTG Class&#160;A Ordinary Shares underlying such BTG ADSs from being voted, except under the circumstances described above. This may make it more difficult for shareholders to influence the management of BTG.] </font>
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          <font style="letter-spacing:-0.2pt;">Holders of BTG ADSs and the BTG Ordinary Shares have limited choice of forum, which could limit your ability to obtain a favorable judicial forum for complaints against BTG, the Depositary or the respective directors, officers or employees of the Depositary and BTG.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Deposit Agreement governing BTG ADSs provides that, (i)&#160;the Deposit Agreement and the BTG ADSs will be interpreted in accordance with the laws of the State of New York, and (ii)&#160;as an owner of BTG ADSs, you irrevocably agree that any legal action arising out of the Deposit Agreement and the BTG ADSs involving BTG or the Depositary may only be instituted in a state or federal court in the city of New York. Any person or entity purchasing or otherwise acquiring any BTG ADSs, whether by transfer, sale, operation of law or otherwise, shall be deemed to have notice of and have irrevocably agreed and consented to these provisions. </font>
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          <font style="letter-spacing:0.2pt;">This choice of forum provision may increase your cost and limit your ability to bring a claim in a judicial forum that you find favorable for disputes with BTG, the Depositary or BTG&#8217;s and the Depositary&#8217;s respective directors, officers or employees, which may discourage such lawsuits against BTG, the Depositary and BTG&#8217;s and the Depositary&#8217;s respective directors, officers or employees. However, it is possible that a court could find either choice of forum provision to be inapplicable or unenforceable. The enforceability of similar choice of forum provisions has been challenged in legal proceedings. It is possible that a court could find this type of provision to be inapplicable or unenforceable. </font>
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          <font style="letter-spacing:0.2pt;">To the extent that any such claims may be based upon federal law claims, Section&#160;27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. Furthermore, Section&#160;22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. Accordingly, actions by holders of BTG ADSs or BTG Ordinary Shares to enforce any duty or liability created by the Exchange Act, the Securities Act or the respective rules and regulations thereunder must be brought in a federal court in the city of New York. Holders of BTG ADSs or BTG Ordinary Shares will not be deemed to have waived BTG&#8217;s compliance with the federal securities laws and the regulations promulgated thereunder. </font>
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          <font style="letter-spacing:-0.2pt;">An ADS holder&#8217;s right to pursue claims against the Depositary is limited by the terms of the Deposit Agreement. </font>
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          <font style="letter-spacing:0.2pt;">Under the Deposit Agreement, any action or proceeding against or involving the Depositary, arising out of or based upon the Deposit Agreement or the transactions contemplated thereby or by virtue of owning the BTG ADS may only be instituted in State of New York, and a holder of the BTG ADS will have irrevocably waived any objection which such holder may have to the laying of venue of any such proceeding, and irrevocably submitted to the exclusive jurisdiction of such courts in any such action or proceeding. However, there is uncertainty as to whether a court would enforce this exclusive jurisdiction provision. Furthermore, investors cannot waive compliance with the U.S. federal securities laws and rules and regulations promulgated thereunder. Also, BTG may amend or terminate the Deposit Agreement without the consent of any holder of BTG ADSs. If a holder continues to hold its BTG ADSs after an amendment to the Deposit Agreement, such holder agrees to be bound by the applicable Deposit Agreement as so amended. </font>
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          <font style="letter-spacing:-0.2pt;">ADS holders may not be entitled to a jury trial with respect to claims arising under the Deposit Agreement, which could result in less favorable results to the plaintiff(s) in any such action.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Deposit Agreement governing BTG&#8217;s ADSs provides that owners and holders of ADSs irrevocably waive the right to a trial by jury in any legal proceeding arising out of or relating to the Deposit Agreement or the BTG ADSs, including claims under U.S. federal securities laws, against BTG or the Depositary to the fullest extent permitted by applicable law. If this jury trial waiver provision is prohibited by applicable law, an </font>
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          <font style="letter-spacing:0.2pt;">93</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">action could nevertheless proceed under the terms of the Deposit Agreement with a jury trial. Although BTG is not aware of a specific federal decision that addresses the enforceability of a jury trial waiver in the context of U.S. federal securities laws, it is BTG&#8217;s understanding that jury trial waivers are generally enforceable. Moreover, insofar as the Deposit Agreement is governed by the laws of the State of New York, New York laws similarly recognize the validity of jury trial waivers in appropriate circumstances. In determining whether to enforce a jury trial waiver provision, New York courts and federal courts will consider whether the visibility of the jury trial waiver provision within the agreement is sufficiently prominent such that a party has knowingly waived any right to trial by jury. BTG believes that this is the case with respect to the Deposit Agreement and the BTG ADSs. </font>
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          <font style="letter-spacing:0.2pt;">In addition, New York courts will not enforce a jury trial waiver provision in order to bar a viable setoff or counterclaim of fraud or one which is based upon a creditor&#8217;s negligence in failing to liquidate collateral upon a guarantor&#8217;s demand, or in the case of an intentional tort claim (as opposed to a contractual dispute). No condition, stipulation or provision of the Deposit Agreement or the BTG ADSs serves as a waiver by any holder or beneficial owner of the BTG ADSs, BTG or the Depositary of compliance with any provision of U.S. federal securities laws and the rules and regulations promulgated thereunder. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If any owner or holder of BTG&#8217;s ADSs brings a claim against BTG or the Depositary in connection with matters arising under the Deposit Agreement or the BTG ADSs, including claims under U.S. federal securities laws, such owner or holder may not be entitled to a jury trial with respect to such claims, which may have the effect of limiting and discouraging lawsuits against BTG or the Depositary. If a lawsuit is brought against BTG or the Depositary under the Deposit Agreement, it may be heard only by a judge or justice of the applicable trial court, which would be conducted according to different civil procedures and may result in different results than a trial by jury would have had, including results that could be less favorable to the plaintiff(s) in any such action, depending on, among other things, the nature of the claims, the judge or justice hearing such claims and the venue of the hearing. </font>
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          <font style="letter-spacing:-0.2pt;">The Depositary is entitled to charge BTG ADS holders fees for various services, including annual service fees.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Depositary is entitled to charge holders of BTG ADSs fees for various services, including for the issuance of the BTG ADSs upon deposit of the BTG Ordinary Shares (other than in the case of BTG ADSs issued pursuant to the Business Combination), cancellation of BTG ADSs, distributions of cash dividends or other cash distributions, distributions of BTG ADSs pursuant to share dividends or other free share distributions, distributions of BTG Securities, other than BTG ADSs, and annual service fees. In the case of BTG ADSs issued by the Depositary into DTC, the fees will be charged by the DTC participant to the account of the applicable beneficial owner in accordance with the procedures and practices of the DTC participant as in effect at the time. </font>
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          <font style="letter-spacing:-0.2pt;">Holders of BTG ADS may not receive dividends or other distributions from BTG and the holders thereof may not receive any value for those distributions, if it is illegal or impractical to make them available to them.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under the terms of the Deposit Agreement, the Depositary will agree to distribute to holders of the BTG ADSs the cash dividends or other distributions it or the custodian receives on the applicable deposited securities underlying the BTG ADSs, after deducting its fees, taxes and expenses. Holders of the BTG ADSs will receive these distributions in proportion to the number of BTG ADSs they hold. However, the Depositary is not responsible if it decides that it is unlawful or impractical to make a distribution available to any holders of the BTG ADSs. For example, it would be unlawful to make a distribution to a holder of BTG ADSs if it consists of securities that require registration under the Securities Act but that are not properly registered or distributed under an applicable exemption from registration. The Depositary may also determine that it is not practicable to distribute certain property through the mail. Additionally, the value of certain distributions may be less than the cost of mailing them. In these cases, the Depositary may determine not to distribute such property. BTG has no obligation to register, under U.S. securities laws, securities received through such shareholder distributions. BTG also has no obligation to take any other action to permit the distribution to holders of such BTG ADSs. This means that holders of the BTG ADSs may not receive distributions BTG makes on its securities or any value for them if it is illegal or impractical for BTG to make them available to such holders of the BTG ADSs. These restrictions may cause a material decline in the value of the BTG ADSs. </font>
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          <font style="letter-spacing:0.2pt;">94</font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:-0.2pt;">Holders of BTG ADSs may experience dilution of their holdings due to their inability to participate in rights offerings.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BTG may, from time to time, distribute rights to its shareholders, including rights to acquire securities. Under the Deposit Agreement for the BTG ADSs, the Depositary will not distribute rights to holders of the BTG ADSs unless the distribution and sale of rights and the securities to which these rights relate are either exempt from registration under the Securities Act with respect to all holders of the BTG ADSs or are registered under the provisions of the Securities Act. The Depositary may, but is not required to, attempt to sell these undistributed rights to third parties, and may allow the rights to lapse. BTG may be unable to establish an exemption from registration under the Securities Act, and BTG is under no obligation to file a registration statement with respect to these rights or underlying securities or to endeavor to have a registration statement declared effective. Accordingly, holders of the BTG ADSs may be unable to participate in BTG&#8217;s rights offerings and may experience dilution of their holdings as a result. </font>
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          <font style="letter-spacing:-0.2pt;">Holders of BTG ADSs may be subject to limitations on the transfer of their BTG ADSs.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BTG ADSs are transferable on the books of the Depositary. However, the Depositary may close its books at any time or from time to time when it deems expedient in connection with the performance of its duties. The Depositary may close its books from time to time for a number of reasons, including in connection with corporate events such as a rights offering, during which time the Depositary needs to maintain an exact number of BTG ADSs on its books for a specified period. The Depositary may also close its books in emergencies, and on weekends and public holidays. The Depositary may refuse to deliver, transfer or register transfers of BTG ADSs generally when BTG&#8217;s share register or the books of the Depositary are closed, or at any time if BTG or the Depositary thinks it is advisable to do so because of any requirement of law or of any government or governmental body, or under any provision of the Deposit Agreement, or for any other reason. </font>
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          <font style="letter-spacing:-0.2pt;">BTG (or its predecessor BSGA) may be or become a PFIC, which could result in adverse U.S. federal income tax consequences to U.S. Holders of BTG ADSs or BTG Class&#160;A Ordinary Shares.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In general, a non-U.S. corporation is a PFIC for U.S. federal income tax purposes for any taxable year in which (i)&#160;50% or more of the average value of its assets (generally determined on the basis of a weighted quarterly average) consists of assets that produce, or are held for the production of, passive income, or (ii)&#160;75% or more of its gross income consists of passive income. Passive income generally includes dividends, interest, royalties, rents, investment gains, net gains from the sales of property that does not give rise to any income and net gains from the sale of commodities (subject to certain exceptions, such as an exception for certain income derived in the active conduct of a trade or business). Cash and cash equivalents are, and cryptocurrency balances are likely, passive assets. The value of goodwill will generally be treated as an active or passive asset based on the nature of the income produced in the activity to which the goodwill is attributable. For purposes of the PFIC rules, a non-U.S. corporation that owns, directly or indirectly, at least 25% by value of the stock of another corporation is treated as if it held its proportionate share of the assets of the other corporation, and received directly its proportionate share of the income of the other corporation. </font>
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          <font style="letter-spacing:0.2pt;">Based on the expected composition of BTG&#8217;s income and assets and the estimated value of BTG&#8217;s assets, including goodwill, BTG currently does not expect to be a PFIC for its taxable year ending December&#160;31, 2022. However, BTG&#8217;s PFIC status for any taxable year is a factual annual determination that can be made only after the end of that year and will depend on the composition of BTG&#8217;s income and assets and the value of its assets from time to time (including the value of its goodwill, which may be determined in large part by reference to the market price of the BTG ADSs from time to time, which could be volatile). Therefore, the risk of BTG being a PFIC for any taxable year will increase if its market capitalization declines substantially during that year. In addition, whether and to which extent BTG&#8217;s income and assets, including goodwill, will be characterized as active or passive will depend on various factors that are subject to uncertainty, including BTG&#8217;s future business plan and the application of laws that are subject to varying interpretation. For example, there is no authority that directly addresses the proper treatment of certain items of BTG&#8217;s income, such as income from proprietary cryptocurrency mining, hash rate sharing, or hosting for purposes of the PFIC rules and, although BTG currently treats these items of income as active, such treatment is uncertain. Moreover, certain of BTG&#8217;s business activities generate passive income and, although the amount of such income is currently small, BTG&#8217;s risk of being a PFIC will increase if the proportion of BTG&#8217;s revenue earned from such </font>
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          <font style="letter-spacing:0.2pt;">95</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">business activities increases in future taxable years. Accordingly, there can be no assurances that BTG will not be a PFIC for its current or any future taxable year. </font>
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          <font style="letter-spacing:0.2pt;">Furthermore, the PFIC status of BSGA may affect U.S. persons who own BTG ADSs or BTG Class A Ordinary Shares. Assuming the Initial Mergers qualify as an F Reorganization, BTG should be treated as the same corporation as BSGA for purposes of the PFIC rules. In that case, BSGA should not be treated as a PFIC for its taxable year ending December 31, 2021 if it qualifies for the start-up exception (as further discussed under &#8220;Material Taxation Considerations &#8201;&#8212;&#8201; Material U.S. Federal Income Tax Considerations&#160;&#8201;&#8212;&#8201; Passive Foreign Investment Company Rules&#8221;) for its taxable year ending December 31, 2021, which requires that BTG will not be a PFIC for its taxable years ending December 31, 2022 and December 31, 2023. However, if BSGA is or was a PFIC for any taxable year during a U.S. person&#8217;s holding period in its BSGA Class A Ordinary Shares (including BSGA Class A Ordinary Shares received with respect to BSGA Rights), and such U.S. person did not (or could not) make any of the PFIC Elections discussed under &#8220;Material Taxation Considerations &#8212; Material U.S. Federal Income Tax Considerations &#8201;&#8212;&#8201; Passive Foreign Investment Company Rules&#8221;, then, although not free from doubt, BTG would also be treated as a PFIC as to such U.S. person with respect to the BTG Class A Ordinary Shares received in the Initial Mergers (or BTG ADSs representing these shares), even if BTG is not a PFIC, unless such U.S. person makes a purging election with respect to its shares, as described under &#8220;Material Taxation Considerations &#8201;&#8212;&#8201; Material U.S. Federal Income Tax Considerations &#8201;&#8212;&#8201; Passive Foreign Investment Company Rules.&#8221;</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, if BSGA is a PFIC for any taxable year during which a U.S. Holder owned BSGA Rights, and assuming a QEF election is not available with respect to the BSGA Rights, the U.S. Holder may be subject to the general PFIC rules described in the preceding paragraph with respect to the shares underlying the BSGA Rights, even if the U.S. Holder made a QEF election with respect to its other BSGA Class A Ordinary Shares, unless a purging election is made.</font>
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          <font style="letter-spacing:0.2pt;">If BTG is treated as a PFIC for any taxable year during which a U.S. person owns BTG ADSs or BTG Class&#160;A Ordinary Shares, the U.S. person generally will be subject to adverse U.S. federal income tax consequences, including increased tax liability on disposition gains and certain &#8220;excess distributions&#8221; and additional reporting requirements. Prospective holders of BTG ADSs or BTG Class&#160;A Ordinary Shares should consult their tax advisers regarding the application of the PFIC rules to BTG and the risks of owning equity securities in a company that may be a PFIC. See &#8220;Material Taxation Considerations&#8201;&#8212;&#8201;Material U.S. Federal Income Tax Considerations&#8201;&#8212;&#8201;Passive Foreign Investment Company Rules.&#8221; </font>
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        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Because under certain attribution rules BTG&#8217;s non-U.S. subsidiaries may be treated as controlled foreign corporations for U.S. federal income tax purposes, there could be adverse U.S. federal income tax consequences to certain U.S. Holders of BTG ADSs or BTG Class&#160;A Ordinary Shares who own, directly or indirectly, ten&#160;percent or more of BTS ADSs or BTG Class&#160;A Ordinary Shares.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For U.S. federal income tax purposes, each &#8220;Ten Percent Shareholder&#8221; &#8203;(as defined below) in a non-U.S. corporation that is classified as a &#8220;controlled foreign corporation&#8221; &#8203;(a &#8220;CFC&#8221;) generally is required to include in income such Ten Percent Shareholder&#8217;s pro&#160;rata share of the CFC&#8217;s &#8220;Subpart F income,&#8221; investment of earnings in U.S. property, and &#8220;global intangible low-taxed income,&#8221; even if the CFC has made no distributions to its shareholders. Subpart F income generally includes dividends, interest, rents, royalties, gains from the sale of securities and income from certain transactions with related parties, and &#8220;global intangible low-taxed income&#8221; generally consists of net income of the CFC, other than Subpart F income and certain other types of income, in excess of certain thresholds. A non-U.S. corporation generally will be classified as a CFC if Ten Percent Shareholders own, directly, indirectly or constructively (through attribution), more than 50% of either the total combined voting power of all classes of stock entitled to vote of such corporation or of the total value of the stock of such corporation. A &#8220;Ten Percent Shareholder&#8221; is a United States person (as defined by the Code) who owns or is considered to own, directly, indirectly or constructively, 10% or more of either the total combined voting power of all classes of stock entitled to vote of such corporation or the total value of the stock of such corporation. The determination of CFC status is complex and includes certain &#8220;downward attribution&#8221; rules pursuant to which BTG&#8217;s non-U.S. subsidiaries may be treated as constructively owned by BTG&#8217;s U.S. subsidiaries and, therefore, BTG&#8217;s non-U.S. subsidiaries may be treated as CFCs. Prospective holders of BTG ADSs or BTG Class&#160;A Ordinary Shares that may be or become Ten Percent Shareholders should consult their tax advisors with respect to the potential adverse tax consequences of investing in BTG. </font>
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          <font style="letter-spacing:0.2pt;">96</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:452pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Future changes to tax laws could materially and adversely affect BTG and reduce net returns to BTG&#8217;s shareholders.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG&#8217;s tax treatment is subject to changes in tax laws, regulations, and treaties, or the interpretation thereof, tax policy initiatives and reforms under consideration, and the practices of tax authorities in jurisdictions in which BTG operates. The income and other tax rules in the jurisdictions in which BTG operates are constantly under review by taxing authorities and other governmental bodies. Changes to tax laws (which changes may have retroactive application) could adversely affect BTG or its shareholders. BTG is unable to predict what tax proposals may be proposed or enacted in the future or what effect such changes would have on BTG&#8217;s business, but such changes, to the extent they are brought into tax legislation, regulations, policies or practices, could affect BTG&#8217;s financial position and overall or effective tax rates in the future in countries where BTG has operations and where BTG is organized or resident for tax purposes, and increase the complexity, burden and cost of tax compliance. BTG urges investors to consult with their legal and tax advisers regarding the implication of potential changes in tax laws on an investment in BTG Class&#160;A Ordinary Shares. </font>
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          <font style="letter-spacing:0.2pt;">97</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tEGMO">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">EXTRAORDINARY GENERAL MEETING OF BSGA SHAREHOLDERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA is furnishing this proxy statement/prospectus to the BSGA Shareholders as part of the solicitation of proxies by the BSGA Board for use at the Extraordinary General Meeting of BSGA Shareholders to be held on&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;and at any adjournment or postponement thereof. This proxy statement/prospectus is first being furnished to our shareholders on or about&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;in connection with the vote on the Proposals. This proxy statement/prospectus provides you with the information you need to know to be able to vote or instruct your vote to be cast at the Extraordinary General Meeting. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Date, Time and Place</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Extraordinary General Meeting will be held at&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;A.M., Eastern Time, on&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;and conducted at the offices of Davis Polk &amp; Wardwell LLP at 450 Lexington Avenue, New York, NY&#160;10017, and via live audio cast at&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, or such other date, time and place to which such meeting may be adjourned or postponed, for the purposes set forth in the accompanying notice. We are pleased to utilize the virtual shareholders meeting technology to provide ready access and cost savings for our shareholders. The virtual meeting format allows attendance from any location in the world. You will be able to attend, vote your shares, view the list of shareholders entitled to vote at the Extraordinary General Meeting and submit questions during the Extraordinary General Meeting and via a live audio cast available at&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;. </font>
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          <font style="letter-spacing:-0.2pt;">Extraordinary General Meeting Registration</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">To register for the Extraordinary General Meeting, please follow these instructions as applicable to the nature of your ownership of BSGA Ordinary Shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If your shares are registered in your name with Continental and you wish to attend the Extraordinary General Meeting virtually, go to&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, enter the control number you received on your proxy card and click on the &#8220;Click here&#8221; to preregister for the online meeting link at the top of the page. Just prior to the start of the meeting, you will need to log back into the meeting site using your control number. Pre-registration is recommended but is not required in order to participate in the virtual Meeting. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Beneficial shareholders who wish to participate in the online-only virtual meeting must obtain a legal proxy by contacting their account representative at the bank, broker, or another nominee that holds their shares and email a copy (a legible photograph is sufficient) of their legal proxy to [&#8226;]. Beneficial shareholders who email a valid legal proxy will be issued a meeting control number that will allow them to register to attend and participate in the online-only meeting. After contacting [&#8226;], a beneficial holder will receive an email prior to the meeting with a link and instructions for entering the virtual meeting. Beneficial shareholders should contact [&#8226;] at least five business days prior to the meeting date. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Accessing the Meeting Audio Cast</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You will need your control number for access. If you do not have your control number, contact [&#8226;] at the phone number or email address below. Beneficial investors who hold shares through a bank, broker or other intermediary, will need to contact them and obtain a legal proxy. Once you have your legal proxy, contact&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;to have a control number generated.&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;contact information is as follows:&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;or email&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Record Date; Who is Entitled to Vote</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA has fixed the close of business on&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, as the record date for determining those BSGA Shareholders entitled to notice of and to vote at the Extraordinary General Meeting. As of the close of business on&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, there were&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;BSGA Ordinary Shares issued and outstanding and entitled to vote, of which&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;are Public Shares and&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;are Founder Shares held by the initial shareholders. Each holder of BSGA Ordinary Shares is entitled to one vote per share on each Proposal. If your shares are held in &#8220;street name,&#8221; you should contact your broker, bank or another nominee to ensure that shares held beneficially by you are voted in accordance with your instructions. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">98</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In connection with the IPO, BSGA entered into certain letter agreements pursuant to which the initial shareholders agreed to vote any BSGA Ordinary Shares owned by them in favor of BSGA&#8217;s initial business combination. The initial shareholders also entered into a certain support agreement with Bitdeer, pursuant to which they agreed to, among other things, in favor of the Business Combination Proposal and the other Proposals. As of the date of this proxy statement/prospectus, the initial shareholders hold approximately 19.1% of the outstanding BSGA Ordinary Shares. </font>
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          <font style="letter-spacing:-0.2pt;">Quorum and Required Vote for Shareholder Proposals</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A quorum of BSGA Shareholders is necessary to hold a valid meeting. A quorum will be present at the Extraordinary General Meeting if not less than 50 percent of the shares issued and outstanding BSGA Ordinary Shares and entitled to vote at the Extraordinary General Meeting is present in person physically or by virtual attendance or represented by proxy. </font>
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          <font style="letter-spacing:0.2pt;">Approval of the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal, and the Adjournment Proposal will each require the affirmative vote of the holders of a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting or any adjournment thereof. Attending the Extraordinary General Meeting either in person physically or by virtual attendance or represented by proxy and abstaining from voting and a broker non-vote will have the same effect as voting against the Proposals. An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The approval of the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal, and the Adjournment Proposal is a condition to the consummation of the Merger. If the Business Combination Proposal is not approved, the Merger will not take place. </font>
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          <font style="letter-spacing:-0.2pt;">Voting Your Shares</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each BSGA Ordinary Share that you own in your name entitles you to one vote on each Proposal for the Extraordinary General Meeting. Your proxy card shows the number of ordinary shares that you own. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">There are two ways to ensure that your ordinary shares are voted at the Extraordinary General Meeting: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">You can vote your shares by signing, dating and returning the enclosed proxy card in the pre-paid postage envelope provided. If you submit your proxy card, your &#8220;proxy,&#8221; whose name is listed on the proxy card, will vote your shares as you instruct on the proxy card. If you sign and return the proxy card but do not give instructions on how to vote your shares, your shares will be voted, as recommended by our board. The BSGA Board recommends voting &#8220;FOR&#8221; each of the Proposals. If you hold your ordinary shares in &#8220;street name,&#8221; which means your shares are held of record by a broker, bank or other nominee, you should follow the instructions provided to you by your broker, bank or nominee to ensure that the votes related to the shares you beneficially own are properly represented and voted at the Extraordinary General Meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">You can participate in the Extraordinary General Meeting and vote during the Extraordinary General Meeting even if you have previously voted by submitting a proxy as described above. However, if your shares are held in the name of your broker, bank or another nominee, you must get a proxy from the broker, bank or other nominee. That is the only way BSGA can be sure that the broker, bank or nominee has not already voted your shares. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">IF YOU RETURN YOUR PROXY CARD WITHOUT AN INDICATION OF HOW YOU WISH TO VOTE, YOUR SHARES WILL BE VOTED IN FAVOR OF THE BUSINESS COMBINATION PROPOSAL (AS WELL AS THE OTHER PROPOSALS). </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Revoking Your Proxy</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you give a proxy, you may revoke it at any time before it is exercised by doing any one of the following: </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">99</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tIYAA">&#8203;</a>
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        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">you may send another proxy card with a later date; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if you are a record holder, you may notify our proxy solicitor, [&#8226;], in writing before the Extraordinary General Meeting that you have revoked your proxy; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.29pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.29pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">you may participate in the virtual Meeting, revoke your proxy, and vote during the virtual Meeting, as indicated above. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Who Can Answer Your Questions About Voting Your Shares</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you have any questions about how to vote or direct a vote in respect of your shares, you may contact [&#8226;], our proxy solicitor as follows: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">[&#8226;] </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">No Additional Matters May Be Presented at the Extraordinary General Meeting</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This Meeting has been called only to consider the approval of the Business Combination Proposal, the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal, and the Adjournment Proposal. Approval of these Proposals will each require the affirmative vote of the holders of a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting or any adjournment thereof. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Redemption Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the Existing BSGA Articles, a holder of Public Shares may demand that BSGA redeem such shares for cash in connection with a business combination. You may not elect to redeem your shares prior to the completion of a business combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you are a public shareholder and you seek to have your shares redeemed, you must submit your request in writing that we redeem your public shares for cash no later than [&#8226;], Eastern time on [&#8226;] (at least two business days before the Extraordinary General Meeting). The request must be signed by the applicable shareholder in order to validly request redemption. A shareholder is not required to submit a proxy card or vote in order to validly exercise redemption rights. The request must identify the holder of the shares to be redeemed and must be sent to [&#8226;] at the following address: </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">[&#8226;] </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Attention: [&#8226;] </font>
          <br >
          <font style="letter-spacing:0.2pt;">Email: [&#8226;] </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You must tender the public shares for which you are electing redemption at least two business days before the Extraordinary General Meeting by either: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Delivering certificates representing ordinary shares to Continental, or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Delivering the ordinary shares electronically through the DWAC system. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any corrected or changed written demand of redemption rights must be received by [&#8226;] at least two business days before the Extraordinary General Meeting. No demand for redemption will be honored unless the holder&#8217;s shares have been delivered (either physically or electronically) to [&#8226;] at least two business days prior to the vote at the Extraordinary General Meeting. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Public shareholders may seek to have their shares redeemed regardless of whether they vote for or against the Business Combination and whether or not they are holders of ordinary shares as of the Record Date or vote on any of the Proposals. Any public shareholder who holds shares of BSGA on or before [&#8226;] (at least two business days before the Extraordinary General Meeting) will have the right to demand that his, her or its shares be redeemed for a pro&#160;rata share of the aggregate amount then on deposit in the Trust Account, less any taxes then due but not yet paid, at the consummation of the Business Combination. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">100</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In connection with tendering your shares for redemption, you must elect either to physically tender your share certificates to Continental or deliver your shares to Continental electronically using DTC&#8217;s DWAC (Deposit/Withdrawal At Custodian) System, in each case, at least two business days before the Extraordinary General Meeting. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If you wish to tender through the DWAC system, please contact your broker and request delivery of your shares through the DWAC system. Delivering shares physically may take significantly longer. In order to obtain a physical stock certificate, a shareholder&#8217;s broker and/or clearing broker, DTC, and Continental will need to act together to facilitate this request. It is BSGA&#8217;s understanding that shareholders should generally allot at least two weeks to obtain physical certificates from Continental. BSGA does not have any control over this process or over the brokers or DTC, and it may take longer than two weeks to obtain a physical stock certificate. Shareholders who request physical stock certificates and wish to redeem may be unable to meet the deadline for tendering their shares before exercising their Redemption Rights and thus will be unable to redeem their shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In the event that a shareholder tenders its BSGA Ordinary Shares and decides prior to the consummation of the Business Combination that it does not want to redeem its shares, the shareholder may withdraw the tender. In the event that a shareholder tenders ordinary shares and the business combination is not completed, these shares will not be redeemed for cash and the physical certificates representing these shares will be returned to the shareholder promptly following the determination that the Business Combination will not be consummated. BSGA anticipates that a shareholder who tenders ordinary shares for redemption in connection with the vote to approve the Business Combination would receive payment of the redemption price for such shares soon after the completion of the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If properly demanded by BSGA&#8217;s public shareholders, BSGA will redeem each share into a pro&#160;rata portion of the funds available in the Trust Account, calculated as of two business days prior to the anticipated consummation of the Business Combination. As of the date of this proxy statement/prospectus, this would amount to approximately US$10.10 per share. If you exercise your redemption rights, you will be exchanging your ordinary shares for cash and will no longer own the ordinary shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding the foregoing, a holder of the public shares, together with any affiliate of his or her or any other person with whom he or she is acting in concert or as a &#8220;group&#8221; &#8203;(as defined in Section&#160;13(d)-(3) of the Exchange Act will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in IPO. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If too many public shareholders exercise their redemption rights, BSGA may not be able to meet certain closing conditions, and as a result, would not be able to proceed with the Business Combination. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Appraisal Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under section 179 of the BVI Business Companies Act, 2004 (as amended), holders of BSGA Ordinary Shares will have the right to dissent from the Business Combination. Should a holder of BSGA Ordinary Shares wish to exercise their appraisal right, they must give written notice of their objection to the Business Combination to BSGA prior to the Special Meeting, or at the meeting but before the vote on the Business Combination. Such notice must include a statement that the BSGA shareholder proposes to demand payment for their shares if the Business Combination is undertaken. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Assuming that the Business Combination is approved, BSGA must give notice to any BSGA shareholder who gave written notice of their objection to the Business Combination within 20&#160;days of the date of the Special Meeting at which the Business Combination is approved. Within 20&#160;days following the date of receipt of that notice, the dissenting shareholder must give notice to BSGA of their election to dissent, which notice must include: (a)&#160;the shareholder&#8217;s name and address; (b)&#160;the number and class of shares in respect of which they dissent (which must be all of the shares that the shareholder holds in BSGA); and (c)&#160;a demand for payment of the fair value of the shares. Once such notice has been given to BSGA, the dissenting shareholder ceases to have any rights as a shareholder of BSGA except for the right to be paid the fair value of their shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Within seven days of the expiration of the 20-day period in which a BSGA shareholder may serve notice of dissent (or seven days following the First SPAC Merger, whichever is the later), BSGA shall make a written offer to each dissenting shareholder to purchase their shares at a specified price that BSGA determine to be </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">101</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:272pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">their fair value. If, within 30&#160;days of the date on which that offer is made, BSGA and the dissenting shareholder agree upon the price to be paid for the shares, BSGA shall pay that amount to the shareholder upon the surrender of the certificates representing their shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If agreement on the price to be paid for the shares cannot be reached, within 20&#160;days of the expiration of the 30-day period referred to above the following procedure shall be followed: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">BSGA and the dissenting shareholder shall each designate an appraiser; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the two designated appraisers together shall designate an appraiser; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the three appraisers shall fix the fair value of the shares owned by the dissenting shareholder as of the close of business on the day prior to the date on which the Business Combination was approved, excluding any appreciation or depreciation directly or indirectly induced by the Business Combination or its proposal, and that value is binding on BSGA and the dissenting shareholder for all purposes; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">BSGA shall pay to the dissenting shareholder that amount in money, upon the surrender of the certificates representing their shares. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Proxies and Proxy Solicitation Costs</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA is soliciting proxies on behalf of the BSGA Board. This solicitation is being made by mail but also may be made by telephone or in person. BSGA and its directors, officers and employees may also solicit proxies in person, by telephone or by other electronic means. Any solicitation made and information provided in such a solicitation will be consistent with the written proxy statement/prospectus and proxy card. BSGA will bear the cost of solicitation. [&#8226;], a proxy solicitation firm that BSGA has engaged to assist it in soliciting proxies, will be paid its customary fee of approximately US$[&#8226;] and be reimbursed out-of-pocket expenses. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA will ask banks, brokers and other institutions, nominees and fiduciaries to forward its proxy materials to their principals and to obtain their authority to execute proxies and voting instructions. BSGA will reimburse them for their reasonable expenses. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">102</font>
          <br >
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tUPFC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Defined terms included below shall have the same meaning as terms defined and included elsewhere in this proxy statement/prospectus.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Introduction</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG is providing the following unaudited pro forma condensed combined financial information to aid you in your analysis of the financial aspects of the Business Combination. The following unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation&#160;S-X.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following unaudited pro forma condensed combined statement of financial position as of December&#160;31, 2021 combines the historical balance sheet of BSGA as of December 31, 2021 with the historical combined and consolidated statement of financial position of Bitdeer as December&#160;31, 2021, giving pro forma effect to the Business Combination, as if they had occurred as of December&#160;31, 2021.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following unaudited pro forma condensed combined statements of operations for the year ended December 31, 2021 combine the historical statement of operations of BSGA for the twelve months ended December 31, 2021, and the historical condensed combined and consolidated statement of operations of for year ended December 31, 2021, giving pro forma effect to the Business Combination as if they had occurred on January 1, 2021, the beginning of the earliest period presented.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This information should be read together with the Combined and Consolidated Financial Statements of Bitdeer and its related notes and BSGA&#8217;s financial statements and related notes, &#8220;Bitdeer Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations,&#8221; &#8220;BSGA Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and other financial information included elsewhere in this proxy statement/prospectus. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Description of the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On December&#160;15, 2021, the BSGA Board signed a unanimous written resolution approving the Merger Agreement by and among BTG, Bitdeer, BSGA, BSGA Merger Sub 1, BSGA Merger Sub 2, Bitdeer Merger Sub, and BSGA Sub, amending and restating the agreement and plan of merger dated November&#160;18, 2021, by and among Bitdeer, BSGA and BSGA Sub, pursuant to which (i)&#160;BSGA Merger Sub 1 will merge with and into BSGA, with BSGA being the surviving entity (the &#8220;First SPAC Merger&#8221;), (ii)&#160;following the First SPAC Merger, BSGA will merge with and into BSGA Merger Sub 2, with BSGA Merger Sub 2 being the surviving entity (the &#8220;Second SPAC Merger&#8221;, and together with the First SPAC Merger, the &#8220;Initial Mergers&#8221;), and (iii)&#160;following the Initial Mergers, Bitdeer Merger Sub will merge with and into Bitdeer (the &#8220;Acquisition Merger&#8221;, and together with the Initial Mergers, the &#8220;Mergers&#8221;), with Bitdeer being the surviving entity and becoming a wholly-owned subsidiary of BTG. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Accounting for the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Business Combination will be accounted for as a &#8220;reverse recapitalization&#8221; in accordance with IFRS. Under this method of accounting, BSGA will be treated as the &#8220;acquired&#8221; company for financial reporting purposes. This determination is primarily based on the fact that subsequent to the Business Combination, the Bitdeer&#8217;s shareholders are expected to have a majority of the voting power of BTG, Bitdeer will comprise all of the ongoing operations of combined company, Bitdeer will comprise a majority of the governing body of combined company, and Bitdeer&#39;s senior management will comprise all of the senior management of the combined company. Since BSGA does not meet the definition of a business under IFRS, the transaction is outside the scope of IFRS 3, &#8220;Business Combinations&#8221;, and it is accounted for as an equity-settled, share-based payment transaction in accordance with IFRS 2, &#8220;Share-based Payments&#8221;. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of Bitdeer issuing shares for the net assets of BSGA, accompanied by a recapitalization. The net assets of BSGA will be stated at historical costs. Any difference in the fair value of the consideration deemed to have been issued by Bitdeer and the fair value of BSGA&#8217;s identifiable net assets represents a listing service received by Bitdeer and is recorded through profit </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">103</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">and loss. No goodwill or other intangible assets will be recorded. Operations prior to the Business Combination will be those of Bitdeer. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Basis of Pro Forma Presentation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma combined financial information included in this proxy statement/prospectus has been prepared using the assumptions below with respect to the potential redemption into cash of BSGA&#8217;s Class&#160;A Ordinary Shares: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.19pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:7.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Scenario 1</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Assuming No Redemptions:</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;This presentation assumes that no Public Shareholders exercise Redemption Rights with respect to their BSGA Class&#160;A Ordinary Shares for a pro&#160;rata share of the funds in BSGA&#8217;s Trust Account. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.19pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:7.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Scenario 2</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Assuming Maximum Redemptions:</font><font style="letter-spacing:0.2pt;">&#8199;&#8199;This presentation assumes that BSGA&#8217;s Public Shareholders exercise their Redemption Rights with respect to a maximum of 5.75&#160;million BSGA Class&#160;A Ordinary Shares upon consummation of the Business Combination at a redemption price of approximately US$10.10 per share. Scenario 2 includes all adjustments contained in Scenario 1 and presents additional adjustments to reflect the effect of the maximum redemptions. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The foregoing scenarios are for illustrative purposes only as the actual number of redemptions by BSGA&#8217;s public shareholders is unknowable prior to the BSGA Shareholder vote with respect to the Business Combination. Accordingly, the actual financial position and results of operations may differ significantly from the pro&#160;forma amounts presented herein.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Included below is the expected number of shares to be issued, and the related ownership interests, at the completion of the transaction under the two scenarios: </font>
        </div>
        <table style="width:456pt;height:130.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:216.2pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 1</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined (Assuming </font>
                <br >
                <font style="letter-spacing:-0.16pt;">No Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 2</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined </font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Maximum </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:216.2pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:216.2pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSGA Public Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">6,325,000</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.6<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">575,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:216.2pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">BSGA Sponsor, current directors, officers and affiliates, and representative shares</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">&#65279;(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:216.2pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Bitdeer Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(3)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">97.9<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">99.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:216.2pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">393,688,211</td>
            <td style="padding:0pt;padding-left:0.370000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.385pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">387,938,211</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:6.7pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including one right to receive one-tenth of one BTG Shares upon consummation of the Business Combination.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including 57,500 representative shares issued at IPO as compensation for their services.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including Bitdeer Preference Shares outstanding immediately prior to the Business Combination on an as- converted basis and excluding Bitdeer RSUs and Bitdeer Convertible Note outstanding prior to the Business Combination. Bitdeer has no vested RSUs prior to the Business Combination. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The share amounts and ownership&#160;percentages set forth above are not indicative of voting&#160;percentages. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Shareholders will experience additional dilution to the extent BTG issues additional shares after the Closing. The table above excludes&#160;(a) up to 14,453,539 BTG Ordinary Shares that may be issued upon conversion of US$30,000,000 principal amount of the Bitdeer Convertible Note and (b) up to 77,611,940 BTG Ordinary Shares that will be available for issuance under the Bitdeer Plan, which will be equal to 2,548,933,157 shares multiplied by the Exchange Ratio (as defined in the Merger Agreement). The following table illustrates the impact on relative ownership levels assuming the issuance of all such shares. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">104</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:377.5pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:175.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:205.95pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 1</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming No Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Scenario 2</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Pro Forma Combined</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Assuming Maximum Redemptions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:205.95pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership in</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership</font>
                <br >
                <font style="letter-spacing:-0.16pt;">in shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ownership % </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:205.95pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSGA Public Shareholders </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">6,325,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.3<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">575,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:205.95pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">BSGA Sponsor, current directors, officers and affiliates, and representative shares</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">&#65279;(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.3<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,816,750</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:205.95pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Bitdeer Shareholders</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">79.4<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">385,546,461</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">80.3<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:205.95pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Shares underlying conversion of Bitdeer Convertible Note </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">14,453,539</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">14,453,539</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:2.167pt 0pt 1.833pt 0pt; width:205.95pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Shares initially reserved for issuance under the Bitdeer Plan </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">77,611,940</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">16.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">77,611,940</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">16.2<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:205.95pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">485,753,690</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:11.02pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">480,003,690</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:13.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including 57,500 representative shares issued at IPO as compensation for their services.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Including Bitdeer Preference Shares outstanding immediately prior to the Business Combination on an as converted basis and excluding Bitdeer RSUs and Bitdeer Convertible Note outstanding prior to the Business Combination. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">105</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF FINANCIAL POSITION </font>
          <br >
          <font style="letter-spacing:-0.2pt;">AS OF DECEMBER 31, 2021 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">(In thousand of USD)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:12pt;margin-bottom:64.12pt;margin-left:27.16pt;width:541pt;">
        <table style="width:541pt;height:519.49pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;height:18.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;">
                <font style="letter-spacing:-0.16pt;">IFRS Policy</font>
                <br >
                <font style="letter-spacing:-0.16pt;">and</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Presentation</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Alignment</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Note 2) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Assuming No</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Assuming Maximum</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;height:40.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(1)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Bitdeer </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(2)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Transaction</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Accounting</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Pro Forma</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Combined </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Additional</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Transaction</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Accounting</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Pro Forma</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Combined </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.263pt 0pt 2.097pt 0pt; width:152.5pt;text-align:left;">
              <font style="letter-spacing:0.16pt;">ASSETS</font>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.513pt 0pt 2.097pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Cash and cash equivalents </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">372,088</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">413</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">58,077</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(A<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">413,666</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">(I<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">355,591</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(2,013<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(C<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(9,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(D<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(5,000<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(H<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.503pt 0pt 2.107pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">6,187</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">6,187</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">6,187</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.503pt 0pt 2.107pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Trade receivables </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">8,238</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">8,238</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">8,238</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.493pt 0pt 2.117pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Amounts due from related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">1,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">1,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">1,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.493pt 0pt 2.117pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">46,469</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">46,469</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">46,469</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.493pt 0pt 2.117pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Prepayments and other assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">35,887</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">158</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">36,045</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">36,045</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.493pt 0pt 2.117pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Restricted cash </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">10,310</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">10,310</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">10,310</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.493pt 0pt 2.117pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Right-of-use assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">58,941</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">58,941</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">58,941</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.483pt 0pt 2.127pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">102,617</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">102,617</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">102,617</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.483pt 0pt 2.127pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">115</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">115</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">115</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.483pt 0pt 2.127pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Deferred tax assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4,622</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4,622</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.483pt 0pt 2.127pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4,622</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.47pt 0pt 2.805pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Cash held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">58,077</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,077<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #FFFFFF; min-width:6.75pt; text-align:right; white-space:nowrap;">(A<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.47pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.22pt 0pt 3.555pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:16pt;">
                <font style="letter-spacing:0.16pt;">TOTAL ASSETS </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">646,974</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">58,648</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(16,913<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">688,709</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.22pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">630,634</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:2.733pt 0pt 2.127pt 0pt; width:152.5pt;text-align:left;">
              <font style="letter-spacing:0.16pt;">LIABILITIES</font>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.473pt 0pt 2.137pt 0pt; width:152.5pt;text-align:left;">
              <font style="letter-spacing:0.16pt;">CURRENT LIABILITIES</font>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.473pt 0pt 2.137pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Trade payables </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.473pt 0pt 2.137pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Other payables and accruals </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17,258</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">549</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(300<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(D<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17,007</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17,007</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(500<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(H<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.473pt 0pt 2.137pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Amounts due to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">356</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">375</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.473pt 0pt 2.137pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">375</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.463pt 0pt 2.147pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Promissory note&#8201;&#8211;&#8201;related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">200</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">200</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">200.00</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.463pt 0pt 2.147pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Income tax payables </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">10,454</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">10,454</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">10,454</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.463pt 0pt 2.147pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Borrowings </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.463pt 0pt 2.147pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Deferred revenue </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">213,449</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">213,449</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">213,449</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.463pt 0pt 2.147pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">62,968</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">62,968</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.463pt 0pt 2.147pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">62,968</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999996pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.453pt 0pt 2.157pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Deferred tax liabilities </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">7,547</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">7,547</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.453pt 0pt 2.157pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">7,547</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.58pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:2.387pt 0pt 1.623pt 0pt; width:152.5pt;white-space:normal;text-align:left;">
              <div style="margin-left:16pt; text-indent:-8pt;">
                <font style="letter-spacing:0.16pt;">Class&#160;A ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">58,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(B<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.387pt 0pt 1.623pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.44pt 0pt 2.805pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Deferred underwriters discount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">2,013</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(2,013<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #CCEEFF; min-width:6.75pt; text-align:right; white-space:nowrap;">(C<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.44pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.19pt 0pt 2.805pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:16pt;">
                <font style="letter-spacing:0.16pt;">TOTAL LIABILITIES </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">358,895</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">3,118</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">58,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(60,888<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">359,200</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">359,200</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.19pt 0pt 3.555pt 0pt; width:152.5pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">NET ASSETS </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">288,079</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">55,530</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">43,975</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">329,509</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:4.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.13pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:3.19pt 0pt 2.805pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">271,434</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">106</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:27.16pt;width:541pt;">
        <table style="width:541pt;height:291.07pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;height:18.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;">
                <font style="letter-spacing:-0.16pt;">IFRS Policy</font>
                <br >
                <font style="letter-spacing:-0.16pt;">and</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Presentation</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Alignment</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Note 2) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Assuming No</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Assuming Maximum</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;height:40.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(1)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Bitdeer </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(2)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Transaction</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Accounting</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Pro Forma</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Combined </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Additional</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Transaction</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Accounting</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Pro Forma</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Combined </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.58pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:2.197pt 0pt 0.5pt 0pt; width:152.5pt;white-space:normal;text-align:left;">
              <div style="margin-left:8pt; text-indent:-8pt;">
                <font style="letter-spacing:0.16pt;">COMMITMENTS AND CONTINGENCIES</font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.58pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:2.447pt 0pt 0.5pt 0pt; width:152.5pt;white-space:normal;text-align:left;">
              <div style="margin-left:16pt; text-indent:-8pt;">
                <font style="letter-spacing:0.16pt;">Class&#160;A ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">58,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.447pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.513pt 0pt 2.097pt 0pt; width:152.5pt;text-align:left;">
              <font style="letter-spacing:0.16pt;">EQUITY (DEFICIT)</font>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.513pt 0pt 2.097pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Class&#160;A ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">3,404</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(3,404<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(F<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.513pt 0pt 2.097pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Class&#160;B ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">25</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(25<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(F<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.513pt 0pt 2.097pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.503pt 0pt 2.107pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Share capital </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(1<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(E<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.503pt 0pt 2.107pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Reserves </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">220,909</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">58,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(B<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">297,878</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(I<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">239,918</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(9,600<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(D<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">115</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(G<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
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            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
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            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">1</td>
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            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
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            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(E<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(2,545<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.503pt 0pt 2.107pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(F<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">31,039</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(G<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:3.493pt 0pt 2.117pt 0pt; width:152.5pt;text-align:left;">
              <div style="margin-left:8pt;">
                <font style="letter-spacing:0.16pt;">Retained earnings (accumulated deficit)</font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">67,169</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">(5,974<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">5,974</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(F<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">31,630</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(115<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(G<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">31,515</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.97999999999999pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(31,039<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.493pt 0pt 2.117pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">(G<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:152.5pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.48pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.48pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(4,500<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.48pt 0pt 2.805pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.48pt 0pt 2.805pt 0pt;border-bottom:1px solid #FFFFFF; min-width:6.75pt; text-align:right; white-space:nowrap;">(H<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.805pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.58pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:2.177pt 0pt 3.028pt 0pt; width:152.5pt;white-space:normal;text-align:left;">
              <div style="margin-left:24pt; text-indent:-8pt; line-height:9.57999999999998pt; margin-bottom:-0.499999999999995pt;">
                <font style="letter-spacing:0.16pt;">TOTAL TEMPORARY EQUITY AND EQUITY (DEFICIT) </font>
              </div>
            </td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">288,079</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:16.5pt; text-align:right; white-space:nowrap;">55,530</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">43,975</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">329,509</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:16.17pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.38pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt; width:2.25pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.83pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
            <td style="padding:2.177pt 0pt 2.278pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">271,434</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4pt;line-height:4pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="56">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:12pt;margin-bottom:237.93pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Derived from the combined and consolidated statement of financial position of Bitdeer as of December&#160;31, 2021. See Bitdeer&#8217;s financial statements and the related notes appearing elsewhere in this proxy statement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Derived from the balance sheet of BSGA as of December&#160;31, 2021. See BSGA&#8217;s financial statements and the related notes appearing elsewhere in this proxy statement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">107</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS </font>
          <br >
          <font style="letter-spacing:-0.2pt;">FOR THE YEAR ENDED DECEMBER 31, 2021 </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">(In thousand of USD, except for number of shares and per share amounts)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:12pt;margin-bottom:12pt;margin-left:27.16pt;width:541pt;">

          <table style="width:541pt;margin-bottom:7.75pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
            <tr style="line-height:7.5pt;height:7.2pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4" rowspan="2">
                <div style="text-align:center; line-height:8.44pt; padding-bottom:0.313333333333333pt;">
                  <font style="letter-spacing:-0.15pt;">(1) </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Bitdeer </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4" rowspan="2">
                <div style="text-align:center; line-height:8.44pt; padding-bottom:0.313333333333333pt;">
                  <font style="letter-spacing:-0.15pt;">(2)</font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">BSGA </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4" rowspan="2">
                <div style="text-align:center; line-height:8.44pt; padding-bottom:0.313333333333333pt;">
                  <font style="letter-spacing:-0.15pt;">IFRS Policy </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">and </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Presentation </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Alignment</font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">(Note 2)</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:0pt;" colspan="16">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Assuming No Redemptions</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:0pt;" colspan="16">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Assuming Maximum Redemptions </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:8.44pt;height:34.46pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.687pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Transaction </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Accounting </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Adjustments</font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.687pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Note </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.687pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Pro Forma</font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Combined </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.687pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Additional </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Transaction</font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Accounting </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Adjustments </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.687pt 0pt;" colspan="4">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Note </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.687pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.15pt;">Pro Forma </font>
                  <br >
                  <font style="letter-spacing:-0.15pt;">Combined </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Revenue </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">394,661</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">394,661</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">394,661</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Cost of revenue </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Gross profit </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">241,406</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">241,406</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">241,406</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
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              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(1,242<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">1,242</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Selling expenses </font>
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              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">General and administrative </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">expenses </font>
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              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">(89,735<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">(1,242<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212; </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(90,977<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(90,977<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <tr style="line-height:9pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Recapitalization transaction expenses </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(31,039<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">(CC<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(31,039<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">(115<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">(CC<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(31,154<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt; line-height:8.99999999999999pt;">
                  <font style="letter-spacing:0.15pt;">Research and development </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">expenses </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Other operating income </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">14,625</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">14,625</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">14,625</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Other net gain </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">2,483</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">2,483</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">2,483</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Profit / (loss) from operations </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">130,830</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(1,242<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(31,039<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">98,549 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">(115<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">98,434 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Finance income </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">59</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">2</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">61</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">61</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Profit / (loss) before taxation </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">130,889</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(1,240<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:18.75pt; text-align:right; white-space:nowrap;">(31,039<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">98,610 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">(115<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30pt; text-align:right; white-space:nowrap;">98,495 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Income tax expenses </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">(48,246<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">11,441 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">(AA<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">(36,805<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">42</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:11.25pt; text-align:right; white-space:nowrap;">(AA<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:30pt; text-align:right; white-space:nowrap;">(36,763<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Profit / (loss) for the year </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">82,643</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">(1,240<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:18.75pt; text-align:right; white-space:nowrap;">(19,598<font style="position:absolute;">) </font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;"> 61,805 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">(73<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;"> 61,732 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic and diluted weighted average </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">shares outstanding, Class&#160;A </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">ordinary shares subject to </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">possible redemption </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">3,704,327</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt; line-height:9.00000000000003pt; margin-bottom:-0.500000000000009pt;">
                  <font style="letter-spacing:0.15pt;">Basic and diluted net loss per share </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">per ordinary share subject to </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">possible redemption </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic and diluted weighted average </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">shares outstanding, Class&#160;B </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">ordinary shares and Class&#160;A </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">shares not subject to possible </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">redemption </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">1,621,514</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic and diluted net loss per share </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">per non-redeemable ordinary </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">share </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic weighted average shares outstanding </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">12,662,125,806</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic earnings per share per non-redeemable ordinary share</font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">0.01</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Diluted weighted average shares outstanding </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">12,977,177,302</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic earnings per share per non-redeemable ordinary share</font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">0.01</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:30pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td colspan="6">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Basic pro&#160;forma weighted average shares outstanding </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">393,688,211</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">387,938,211</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:7.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:2.14pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.15pt;">Basic pro&#160;forma earnings per share </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.14pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:2.14pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">0.16 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.14pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:2.14pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">0.16 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Diluted pro&#160;forma weighted average </font>
                  <br >
                  <font style="letter-spacing:0.15pt;">shares outstanding </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">403,281,149</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">397,531,149</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:7.5pt;">
              <td style="padding:0pt 0pt 0.75pt 0pt; width:116pt;white-space:normal;text-align:left;">
                <div style="margin-left:7.5pt; text-indent:-7.5pt;">
                  <font style="letter-spacing:0.15pt;">Diluted pro&#160;forma earnings per share </font>
                </div>
              </td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:10.91pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.94pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:15.72pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:15.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:14.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:18.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">0.15 </td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:24.5pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:10.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:2.97pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt; width:3pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:9.44pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; ">US$</td>
              <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:3pt double #000000; min-width:30pt; text-align:right; white-space:nowrap;">0.16</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>

      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Derived from the combined and consolidated statement of operations of Bitdeer for the year ended December&#160;31, 2021. See Bitdeer&#8217;s financial statements and the related notes appearing elsewhere in this proxy statement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Derived from the statement of operations of BSGA for the period from February&#160;23, 2021 (inception) through December&#160;31, 2021. See BSGA&#8217;s financial statements and the related notes appearing elsewhere in this proxy statement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000011pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">108</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 1&#8201;&#8212;&#8201;Basic of Presentation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma condensed combined statement of financial position as of December&#160;31, 2021 gives pro&#160;forma effect to the Business Combination as if it had been consummated on December&#160;31, 2021. The unaudited pro&#160;forma condensed combined statements of operations for the year ended December&#160;31, 2021 give pro&#160;forma effect to the Business Combination as if it had been consummated on January&#160;1, 2021, the beginning of the earliest period presented in the unaudited pro&#160;forma condensed combined statements of operations. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma condensed combined statement of financial position as of December&#160;31, 2021 has been prepared using, and should be read in conjunction with, the following: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s combined and consolidated statement of financial position as of December&#160;31, 2021 and the related notes included elsewhere in this proxy statement/prospectus; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">BSGA&#8217;s balance sheet as of December&#160;31, 2021 and the related notes included elsewhere in this proxy statement/prospectus; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Other information relating to Bitdeer and BSGA included elsewhere in this proxy statement/prospectus, including sections entitled &#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</font><font style="letter-spacing:0.2pt;">&#8221;, &#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">BSGA&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</font><font style="letter-spacing:0.2pt;">&#8221;, and other financial information relating to Bitdeer and BSGA contained in this proxy statement/prospectus. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma condensed combined statement of operations for the year ended December&#160;31, 2021 has been prepared using, and should be read in conjunction with, the following: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s combined and consolidated statement of operations for the year ended December&#160;31, 2021 and the related notes included elsewhere in this proxy statement/prospectus; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">BSGA&#8217;s statement of operations for the period from February&#160;23, 2021 (inception) through December&#160;31, 2022; and</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Other information relating to Bitdeer and BSGA included elsewhere in this proxy statement/prospectus, including sections entitled &#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</font><font style="letter-spacing:0.2pt;">&#8221;, &#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">BSGA&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</font><font style="letter-spacing:0.2pt;">&#8221;, and other financial information relating to Bitdeer and BSGA contained in this proxy statement/prospectus. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The historical financial statements of Bitdeer have been prepared in accordance with IFRS and in its presentation and reporting currency of the United States dollars (US$). The historical financial statements of BSGA have been prepared in accordance with U.S. GAAP in its presentation and reporting currency of United&#160;States dollars (US$). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Management has made significant estimates and assumptions in its determination of the pro&#160;forma adjustments. As the unaudited pro&#160;forma condensed combined financial information has been prepared based on these preliminary estimates, the final amounts recorded may differ materially from the information presented. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The pro&#160;forma adjustments reflecting the consummation of the Business Combination are based on information available as of the date of this proxy statement/prospectus and certain assumptions and methodologies that management believes are reasonable under the circumstances. The unaudited condensed pro&#160;forma adjustments, which are described in the accompanying notes, may be revised as additional information becomes available and is evaluated. Therefore, the actual adjustments may materially differ from the pro&#160;forma adjustments. Management considers this basis of presentation to be reasonable under the circumstances. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma condensed combined financial information is not necessarily indicative of what the actual results of operations and financial position would have been had the Business Combination taken </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">109</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">place on the dates indicated, nor are they indicative of the future consolidated results of operations or financial position of the post-combination company. They should be read in conjunction with the historical financial statements and notes thereto of Bitdeer and BSGA. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 2&#8201;&#8212;&#8201;IFRS Policy and Presentation Alignment</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The historical financial information of BSGA has been adjusted to give effect to the differences between US GAAP and IFRS for the purposes of the unaudited pro&#160;forma condensed combined financial information. The only adjustment required to convert BSGA&#8217;s financial statements from U.S. to IFRS for purposes of the unaudited pro&#160;forma condensed combined financial information was to reclassify BSGA&#8217;s ordinary shares subject to redemption to other liabilities under IFRS. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Further, as part of the preparation of the unaudited pro&#160;forma condensed combined financial information, certain reclassifications were made to align BSGA&#8217;s historical financial information in accordance with the presentation of Bitdeer&#8217;s historical financial information. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 3&#8201;&#8212;&#8201;Adjustments to Unaudited Pro Forma Condensed Combined Financial Information</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma condensed combined financial information has been prepared to illustrate the effect of the Business Combination and has been prepared for informational purposes only. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following unaudited pro&#160;forma condensed combined financial information has been prepared in accordance with Article&#160;11 of Regulation&#160;S-X as amended by the final rule, Release No. 33-10786 &#8220;Amendments to Financial Disclosures about Acquired and Disposed Businesses.&#8221; Release No. 33-10786 replaces the existing pro&#160;forma adjustment criteria with simplified requirements to depict the accounting for the transaction (&#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">Transaction Accounting Adjustments&#8221;</font><font style="letter-spacing:0.2pt;">) and present the reasonably estimable synergies and other transaction effects that have occurred or are reasonably expected to occur (</font><font style="font-style:italic;letter-spacing:0.2pt;">&#8220;Management&#8217;s Adjustments&#8221;</font><font style="letter-spacing:0.2pt;">). Bitdeer has elected not to present Management&#8217;s Adjustments and will only be presenting Transaction Accounting Adjustments in the following unaudited pro&#160;forma condensed combined financial information. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer and BSGA have not had any historical relationship prior to the Business Combination. Accordingly, no transaction accounting adjustments were required to eliminate activities between the companies. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Transaction Accounting Adjustments to Unaudited Pro Forma Condensed Combined Statement of Financial Position</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The transaction accounting adjustments included in the unaudited pro&#160;forma condensed combined statement of financial position as of December&#160;31, 2021 are as follows: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(A)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the reclassification of cash held in the Trust Account that becomes available for general use following the Business Combination; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(B)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the reclassification of 5,750,000 Class&#160;A ordinary shares subject to possible redemption to permanent equity at US$0.0000001 par value, the reclassification of 1,437,500 Founder Shares from Class&#160;B Ordinary Shares to Class&#160;A Ordinary Shares, the issuance of 604,250 shares of Class&#160;A ordinary shares from the conversion of 6,042,500 rights upon consummation of a Business Combination, and the reclassification of 350,000 BSGA&#8217;s Class A ordinary shares into BTG&#8217;s Class&#160;A ordinary shares at US$0.0000001 par value; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(C)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the settlement of approximately US$2.0&#160;million deferred underwriters discount that become due and payable upon consummation of a Business Combination; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(D)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the settlement of approximately US$9.9&#160;million of Bitdeer&#8217;s deferred transaction costs related to the Business Combination, of which, 1) approximately US$0.3 million of transaction costs accrued as of the balance sheet date and 2) approximately US$9.6 million subsequently reclassify to reserves upon the close of the Business Combination; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">110</font>
          <br >
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(E)</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the recapitalization of Bitdeer&#8217;s equity as consideration for the reverse recapitalization with 1) issuance of 171.7&#160;million Class&#160;V ordinary shares and 2) issuance of 213.8&#160;million Class&#160;A ordinary shares; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.5pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(F)</font>
          <br >
        </div>
        <div style=" margin-top:7.5pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the elimination of BSGA&#8217;s historical accumulated deficit; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.5pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(G)</font>
          <br >
        </div>
        <div style=" margin-top:7.5pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the preliminary estimated expense recognized, in accordance with IFRS 2, for the excess of the fair value of BSGA&#8217;s ordinary shares issued over the fair value of BSGA&#8217;s identifiable net assets at the date of the Business Combination, resulting in US$31.0&#160;million and US$31.2&#160;million increase to accumulated loss assuming no redemptions and maximum redemptions, respectively. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <table style="width:416pt;height:172.5pt;margin-left:40pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:272pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Assuming No </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Assuming </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Maximum </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Redemptions</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:272pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total BSGA&#8217;s ordinary shares outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">8,141,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,391,750</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:272pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Fair value of shares as of May 17, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">10.08</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">10.08</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:272pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Estimated market value of shares (in thousands) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">82,069</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">24,109</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:272pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net assets of BSGA as of December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">55,530</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">55,530</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:272pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Less: Effect of maximum redemption of 5,750,000 BSGA&#8217;s Class&#160;A ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(58,075<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:272pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Less: BSGA&#8217;s transaction costs </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">(4,500<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">(4,500<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:1.917pt 0pt 1.833pt 0pt; width:272pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Adjusted net assets (liabilities) of BSGA as of December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">51,030</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">(7,045<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:272pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Difference&#8201;&#8211;&#8201;being IFRS 2 charge for listing services </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">31,039</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">31,154</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:40pt; margin-top:12.5pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The net assets of BSGA have been reduced by the expected transaction costs to be paid by BSGA and are reflected as a reduction to cash in the unaudited pro&#160;forma condensed combined statement of financial position. The fair value of shares issued was estimated based on a market price of US$10.08 per share (as of May&#160;17, 2022). The value is preliminary and will change based on fluctuations in the share price of BSGA&#8217;s ordinary shares through Closing. A one&#160;percent change in the market price per share would result in a change of US$0.8&#160;million and US$0.2&#160;million in the estimated expense assuming no redemptions and maximum redemptions, respectively; </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.5pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(H)</font>
          <br >
        </div>
        <div style=" margin-top:7.5pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the settlement of approximately US$5.0&#160;million of total estimated professional fees related to the Business Combination, of which, 1) approximately US$0.5&#160;million of transaction costs accrued as of the date of unaudited pro forma condensed combined statement of financial position and 2) approximately US$4.5&#160;million of BSGA&#8217;s transaction costs as an adjustment to retained earnings and is not shown as an adjustment to the statement of operations since it is a nonrecurring charge resulting directly from the Business Combination; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.5pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(I)</font>
          <br >
        </div>
        <div style=" margin-top:7.5pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reflects the maximum redemption of 5,750,000 Class&#160;A ordinary shares at a redemption price of US$10.10 per share as of December&#160;31, 2021 for US$58.1&#160;million. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Transaction Accounting Adjustments to Unaudited Pro Forma Condensed Combined Statements of Operations </font>
        </div>

          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">The transaction accounting adjustments included in the unaudited pro&#160;forma condensed combined statements of operations for the year ended December&#160;31, 2021 are as follows: </font>
          </div>


          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:3.6pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">(AA)</font>
            <br >
          </div>
          <div style=" margin-top:3.6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:44pt;">
            <font style="letter-spacing:0.2pt;">Represents US$31.0&#160;million and US$31.2&#160;million of expense recognized assuming no redemptions and maximum redemptions (with income tax effect of approximately US$11.4 million and US$11.5 million), respectively, in accordance with IFRS 2, for the excess of the fair value of BSGA&#8217;s ordinary shares issued over the fair value of BSGA&#8217;s identifiable net assets, as described in (G), for the the period from February&#160;23, 2021 (inception) through December&#160;31, 2021. These costs are a nonrecurring item. </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>

        <div style="margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 4&#8201;&#8212;&#8201;Earnings/(Loss) per Share</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Represents the earnings/(loss) per share (&#8220;EPS&#8221;) calculated using the historical weighted average shares outstanding, and the change in number of shares in connection with the Business Combination, assuming the </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">111</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:112pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">shares were outstanding since January&#160;1, 2021. As the Business Combination and related transactions are being reflected as if they had occurred at the beginning of the period presented, the calculation of weighted average shares outstanding for basic and diluted earnings/(loss) per share assumes that the shares issuable relating to the Business Combination have been outstanding for the entire period presented. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Basic earnings/(loss) per share is computed by dividing pro&#160;forma profit/(loss) for the periods by the weighted average number of ordinary shares outstanding during the periods using the two class method. Using the two class method, net profit/(loss) for the periods are allocated between Class&#160;A ordinary shares, Class&#160;V ordinary shares and other participating securities (i.e. preference shares) based on their participating rights. Except for voting rights, the Class&#160;A and Class&#160;V ordinary shares have all the same rights and therefore the pro&#160;forma earnings/(loss) per share for both classes of shares are identical. The pro&#160;forma earnings/(loss) per share amounts are the same for Class&#160;A and Class&#160;V ordinary shares because the holders of each class are entitled to equal per share dividends or distributions in liquidation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The unaudited pro&#160;forma condensed combined financial information has been prepared assuming no redemptions and assuming maximum redemptions, for the year ended December&#160;31, 2021: </font>
        </div>

          <table style="width:456pt;height:319pt;margin-top:6pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:302pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1.167pt 0pt; width:0pt;text-align:center;" colspan="10">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">For the Year Ended</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:1.583pt 0pt 1.167pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:-0.16pt;">(in thousands, except share and per share data) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:1.583pt 0pt 1.167pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Combined</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">(Assuming No</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Redemptions) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:1.583pt 0pt 1.167pt 0pt;" colspan="4">
                <div style="text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Combined</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">(Assuming</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Maximum</font>
                  <br >
                  <font style="letter-spacing:-0.16pt;">Redemptions) </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.25pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Pro&#160;forma net income</font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;"> 61,805</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;"> 61,732</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Weighted average shares outstanding&#8201;&#8211;&#8201;basic </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">393,688,211</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">387,938,211</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Earnings per share &#8211; basic</font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">0.16</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">0.16</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Weighted average shares outstanding &#8211; diluted</font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">403,281,149</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">397,531,149</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Earnings per share &#8211; diluted</font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">0.15</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">0.16</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <font style="letter-spacing:-0.2pt;">Weighted average shares calculation, basic and diluted</font>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:italic;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <font style="letter-spacing:0.2pt;">Class&#160;A Ordinary Shares</font>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">BSGA public shares </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">5,750,000</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">BSGA shares converted from rights </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">604,250</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">604,250</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">BSGA Sponsor and private shares </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,730,000</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">1,730,000</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">BSGA issued to underwriter </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">57,500</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">57,500</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #FFFFFF;padding:2.5pt 0pt 1.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">BSGA issued in the Business Combination </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">213,847,635</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">213,847,635</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.25pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Subtotal&#8201;&#8211;&#8201;Class&#160;A Ordinary Shares </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">221,989,385</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.25pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">216,239,385</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:italic;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <font style="letter-spacing:0.2pt;">Class&#160;V Ordinary Shares</font>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="border-bottom:1px solid #CCEEFF;padding:2.5pt 0pt 1.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">BSGA issued in the Business Combination </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">171,698,826</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 1.5pt 0pt;border-bottom:1px solid #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">171,698,826</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.25pt 0pt 2.25pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total weighted average shares outstanding for basic EPS </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.25pt 0pt 1.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.25pt 0pt 1.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">393,688,211</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:2.25pt 0pt 1.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.25pt 0pt 1.5pt 0pt;border-bottom:3pt double #000000; min-width:38.25pt; text-align:right; white-space:nowrap;">387,938,211</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:1.75pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <font style="letter-spacing:0.2pt;">Adjusted for: </font>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:0pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="margin-left:10pt;">
                  <font style="letter-spacing:0.2pt;">Assumed conversion of convertible debt</font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">6,414,996</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">6,414,996</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="margin-left:10pt;">
                  <font style="letter-spacing:0.2pt;">Assumed exercise of share awards</font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">3,177,942</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">3,177,942</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.5pt 0pt 0.5pt 0pt; width:302pt;text-align:left;">
                <div style="white-space:nowrap;">
                  <font style="letter-spacing:0.2pt;">Total weighted average shares outstanding for diluted EPS </font>
                </div>
              </td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">403,281,149</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt; width:5pt;">&#8203;</td>
              <td style="padding:0pt;padding-left:11.59pt;width:0pt;">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
              <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:38.25pt; text-align:right; white-space:nowrap;">397,531,149</td>
              <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>

      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">112</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTBCP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BUSINESS COMBINATION PROPOSAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We are asking our shareholders to adopt the Merger Agreement and approve the Business Combination and the other transactions contemplated thereby. Our shareholders should read carefully this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus in its entirety, including the subsection below titled &#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">The Merger Agreement</font><font style="letter-spacing:0.2pt;">,&#8221; for more detailed information concerning the Business Combination and the terms and conditions of the Merger Agreement. We also urge our shareholders to read carefully the Merger Agreement in its entirety before voting on this proposal. A copy of the Merger Agreement is attached as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex A</font><font style="letter-spacing:0.2pt;"> to this proxy statement / prospectus. </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On December 15, 2021, the Merger Agreement was entered into by and among BTG, Bitdeer, BSGA, BSGA Merger Sub 1, BSGA Merger Sub 2, Bitdeer Merger Sub and BSGA Sub, amending and restating the agreement and plan of merger dated November&#160;18, 2021, by and among Bitdeer, BSGA and BSGA Sub. Pursuant to the terms of the Merger Agreement, (i) BSGA Merger Sub 1 will merge with and into BSGA with BSGA being the surviving entity (the &#8220;First SPAC Merger&#8221;), (ii) immediately following the First SPAC Merger, BSGA will merge with and into BSGA Merger Sub 2, with BSGA Merger Sub 2 being the surviving entity (the &#8220;Second SPAC Merger&#8221;, and together with the First SPAC Merger, the &#8220;Initial Mergers&#8221;), and (iii) following the Initial Mergers, Bitdeer Merger Sub will merge with and into Bitdeer (the &#8220;Acquisition Merger&#8221;, and together with the Initial Mergers, the &#8220;Mergers&#8221;), with Bitdeer being the surviving entity and becoming a wholly-owned subsidiary of BTG. The Mergers and other transactions contemplated by the Merger Agreement are collectively referred to as the Business Combination. The consummation of the Business Combination remains subject to customary closing conditions.</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Merger Agreement</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following is a summary of the material terms of the Merger Agreement. The following summary does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, a copy of which is attached as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex A</font><font style="letter-spacing:0.2pt;"> to this proxy statement / prospectus. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The First SPAC Merger</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">At the effective time of the First SPAC Merger, (i)&#160;BSGA Merger Sub 1 will be merged with and into BSGA, and the separate corporate existence of BSGA Merger Sub 1 will cease and BSGA will continue as the surviving company (the &#8220;Initial SPAC Surviving Sub&#8221;) in the First SPAC Merger under the laws of the British Virgin Islands; (ii)&#160;all the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of each of BSGA and BSGA Merger Sub 1 will become the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of Initial SPAC Surviving Sub, which will include the assumption by the Initial SPAC Surviving Sub of any and all agreements, covenants, duties and obligations of BSGA and BSGA Merger Sub 1 set forth in the Merger Agreement to be performed after the effective time of the First SPAC Merger; (iii)&#160;by virtue of the First SPAC Merger and without any action on the part of BSGA, BSGA Merger Sub 1 or any other person, the memorandum and articles of association of BSGA Merger Sub 1, as in effect immediately prior to the effective time of the First SPAC Merger, will become the memorandum and articles of association of the Initial SPAC Surviving Sub until thereafter amended as provided therein, under the Merger Agreement and under the BVI Companies Act; and (iv)&#160;the board of directors and officers of BSGA Merger Sub 1 and BSGA will cease to hold office, and the board of directors and the officers of the Initial SPAC Surviving Sub will be appointed as determined by Bitdeer, each to hold office in accordance with the memorandum and articles of association of the Initial SPAC Surviving Sub then effective or until their respective successors are duly elected or appointed and qualified. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Second SPAC Merger</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Immediately following the effective time of the First SPAC Merger, the Initial SPAC Surviving Sub will be merged with and into BSGA Merger Sub 2. At the effective time of the Second SPAC Merger, (i)&#160;the separate corporate existence of the Initial SPAC Surviving Sub will cease and BSGA Merger Sub 2 (the &#8220;Subsequent SPAC Surviving Sub&#8221;) will continue as the surviving company in the Second SPAC Merger under the laws of the British Virgin Islands as a wholly-owned subsidiary of BTG; (ii)&#160;all the property, rights, </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">113</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of each of the Initial SPAC Surviving Sub and BSGA Merger Sub 2 will become the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of Subsequent SPAC Surviving Sub, which will include the assumption by Subsequent SPAC Surviving Sub of any and all agreements, covenants, duties and obligations of BSGA and BSGA Merger Sub 1 set forth in the Merger Agreement to be performed after the effective time of the Second SPAC Merger; (iii)&#160;by virtue of the Second SPAC Merger and without any action on the part of BSGA, BSGA Merger Sub 2 or any other person, the memorandum and articles of association of the Initial SPAC Surviving Sub, as in effect immediately prior to the effective time of the Second SPAC Merger, will become the memorandum and articles of association of the Subsequent SPAC Surviving Sub until thereafter amended as provided therein and under the BVI Companies Act; and (iv)&#160;the board of directors and officers of BSGA Merger Sub 2 and the Initial SPAC Surviving Sub will cease to hold office, and the board of directors and the officers of the Subsequent SPAC Surviving Sub will be appointed as determined by Bitdeer, each to hold office in accordance with the memorandum and articles of association of the Subsequent SPAC Surviving Sub in effect or until their respective successors are duly elected or appointed and qualified. </font>
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          <font style="letter-spacing:-0.2pt;">The Acquisition Merger</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">At the effective time of the Acquisition Merger, (i)&#160;Bitdeer Merger Sub will be merged with and into Bitdeer and following the Acquisition Merger, the separate corporate existence of Bitdeer Merger Sub will cease and Bitdeer will continue as the Surviving Company under the laws of the Cayman Islands and become a wholly-owned subsidiary of BTG; (ii)&#160;all the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of each of Bitdeer Merger Sub and Bitdeer will become the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of Bitdeer, as the Surviving Company, which will include the assumption by the Surviving Company of any and all agreements, covenants, duties and obligations of Bitdeer Merger Sub and Bitdeer set forth in the Merger Agreement to be performed after the effective time of the Acquisition Merger; (iii)&#160;by virtue of the Acquisition Merger and without any action on the part of Bitdeer, Bitdeer Merger Sub or any other person, the memorandum and articles of association of the Bitdeer Merger Sub, as in effect immediately prior to the effective time of the Acquisition Merger, will become the memorandum and articles of association of the Surviving Company until thereafter amended as provided therein and under the Cayman Companies Act, except that the name of the Surviving Company reflected therein will be &#8220;Bitdeer Technologies Holding Company&#8221;; and (iv)&#160;the directors or officers of Bitdeer as of immediately prior to the effective time of the Acquisition Merger will be the directors or officers of the Surviving Company, each to hold office in accordance with the Memorandum and Articles of Association of the Surviving Company until the earlier of his or her resignation or removal or he or she otherwise ceases to be a director or until his or her respective successor is duly elected and qualified, as the case may be. </font>
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          <font style="letter-spacing:-0.2pt;">Merger Consideration</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In accordance with the terms and subject to the conditions of the Merger Agreement, upon the effective time of the First SPAC Merger, (i) each issued and outstanding BSGA Ordinary Share will be cancelled and exchanged for the right to receive one BTG Class A Ordinary Share, which will trade in the United States in the form of ADS, and (ii) each BSGA Right will be cancelled and exchanged for the right to receive one-tenth (1/10) of a BTG Class A Ordinary Share in the same manner as BSGA Ordinary Share as set forth in subclause (i), with fractional shares to be either rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of British Virgin Islands law. </font>
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          <font style="letter-spacing:0.2pt;">At the effective time of the First SPAC Merger, (i)&#160;each BSGA Ordinary Share issued and outstanding immediately prior to the effective time of the First SPAC Merger (other than the BSGA Dissenting Shares as defined below) will be cancelled and cease to exist in exchange for the right to receive one BTG Class&#160;A Ordinary Share, except that the BSGA Ordinary Shares that are owned by BSGA as treasury shares or owned by any direct or indirect subsidiary of BSGA will be canceled and cease to exist without any consideration; (ii)&#160;the BSGA Dissenting Shares owned by BSGA Shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the First SPAC Merger pursuant to the BVI Companies Act will represent only the right to receive the payment resulting from the procedure set forth in the BVI Companies Act with respect to the BSGA Dissenting Shares owned by such BSGA Shareholders, and (iii)&#160;the one share of </font>
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          <font style="letter-spacing:0.2pt;">114</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">BTG that was outstanding immediately prior to the effective time of the First SPAC Merger will be redeemed for an amount of US$0.0000001 and cancelled. </font>
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          <font style="letter-spacing:0.2pt;">At the effective time of the Acquisition Merger, (i)&#160;each Bitdeer Ordinary Share and each Bitdeer Preference Share issued and outstanding immediately prior to the effective time of the Acquisition Merger (other than any Key Executive Shares and Bitdeer Dissenting Shares) will be cancelled and cease to exist in exchange for the right to receive such number of BTG Class&#160;A Ordinary Shares that is equal to the Exchange Ratio; (ii)&#160;each Key Executive Share issued and outstanding immediately prior to the effective time of the Acquisition Merger will be cancelled and cease to exist in exchange for the right to receive such number of BTG Class&#160;V Ordinary Shares that is equal to the Exchange Ratio; (iii)&#160;each Bitdeer RSU outstanding immediately prior to the effective time of the Acquisition Merger, whether vested or unvested, will be assumed by BTG and converted into an award of restricted share&#160;units, representing the right to receive, on the same terms and conditions (including applicable vesting, settlement and expiration provisions) as applied to such Bitdeer RSU immediately prior to the effective time of the Acquisition Merger, BTG Class&#160;A Ordinary Shares, except that the number of BTG Class&#160;A Ordinary Shares subject to such restricted share&#160;units will equal the product of the number of Bitdeer Ordinary Shares that were subject to such Bitdeer RSU multiplied by the Exchange Ratio, rounded down to the nearest whole share; (iv)&#160;the Bitdeer Convertible Note outstanding immediately prior to the effective time of the Acquisition Merger will be assumed by BTG and represent the rights to receive, on the same terms and conditions as applied to such Bitdeer Convertible Note, BTG Class&#160;A Ordinary Shares, except that the number of BTG Class&#160;A Ordinary Shares to be received upon conversion of the Bitdeer Convertible Note will equal the product of the number of Bitdeer Ordinary Shares issuable upon conversion of the Bitdeer Convertible Note multiplied by the Exchange Ratio, rounded down to the nearest whole share; and (v)&#160;Bitdeer Dissenting Shares owned by Bitdeer shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Acquisition Merger pursuant to the Cayman Companies Act will represent only the right to receive the payment resulting from the procedure set forth in the Cayman Companies Act with respect to the Bitdeer Dissenting Shares owned by such Bitdeer shareholder. </font>
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          <font style="letter-spacing:-0.2pt;">Reasons for the Structure of the Business Combination</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As described above and contemplated by the Merger Agreement, the Business Combination will be consummated via a multiple-merger structure (also known as &#8220;double dummy&#8221;), consisting of the Initial Mergers and the Acquisition Merger. Under such structure, each of BSGA and Bitdeer will merge with a subsidiary of BTG, a newly formed company, through the Initial Mergers and the Acquisition Merger, respectively. Upon the consummation of the Business Combination, BTG will be the public company listed on Nasdaq. The multiple-merger structure was chosen by the parties to the Merger Agreement for business, legal and accounting reasons. In particular, given BTG&#8217;s eligibility as a foreign private issuer, its reporting obligations under U.S. securities laws will be less burdensome compared to domestic registrants and BTG will be able to prepare and file its financial statements in accordance with the International Financial Reporting Standards. Such benefit will not be available immediately upon Closing if the Business Combination were to be conducted through a reverse triangular merger in which Bitdeer would be acquired directly by BSGA, which would continue to report as a domestic registrant upon Closing until further assessment of factors such as its shareholder base and location of assets at a future date pursuant to U.S. securities laws. Operationally, following the Business Combination conducted via the proposed structure, BTG will be a holding company that will operate Bitdeer&#8217;s current business through its subsidiaries, which is consistent with the expectations of Bitdeer and BSGA&#8217;s management in relation to post-Business Combination corporate and operational structure.</font>
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          <font style="letter-spacing:0.2pt;">In addition, the Initial Mergers are structured as two separate mergers primarily for U.S. tax reasons. The exchange of BSGA Securities (as defined in &#8220;Material U.S. Federal Income Tax Considerations&#8221;) for BTG Class A Ordinary Shares pursuant to the Business Combination is intended to qualify as a tax-free transaction for U.S. federal income tax purposes. See &#8220;Material U.S. Federal Income Tax Considerations &#8212; Consequences of the Business Combination &#8212; Qualification of the Initial Mergers as a Reorganization.&#8221; The Initial Mergers that effect the exchange of BSGA Securities for BTG Class A Ordinary Shares are structured as a two-step merger in the form of the First SPAC Merger and the Second SPAC Merger to reduce the risk that holders will be subject to U.S. federal income tax on the exchange of their BSGA Securities for BTG Class A Ordinary Shares.</font>
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          <font style="letter-spacing:0.2pt;">115</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:-0.2pt;">Representations and Warranties</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Merger Agreement contains representations and warranties made by Bitdeer to BSGA relating to a number of matters, including, among other aspects, corporate organization, qualification to do business, good standing and corporate power, requisite corporate authority to enter into the Merger Agreement and to complete the contemplated transactions, absence of conflicts, required governmental and regulatory consents&#160;, capitalization of Bitdeer and its subsidiaries and financial statement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Merger Agreement also contains representations and warranties made by BSGA Parties to Bitdeer relating to a number of matters, including, among other aspects, corporate organization, qualification to do business, good standing and corporate power, requisite corporate authority to enter into the Merger Agreement and to complete the contemplated transactions, absence of conflicts with governing documents, applicable laws or certain agreements and instruments as a result of entering into the Merger Agreement or consummate the Business Combination, required governmental and regulatory consents necessary in connection with the Business Combination, the Nasdaq quotation, and proxy statement/registration statement.</font>
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          <font style="letter-spacing:0.2pt;">This summary and the copy of the Merger Agreement attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex&#160;A</font><font style="letter-spacing:0.2pt;"> are included solely to provide investors with information regarding the terms of the Merger Agreement. They are not intended to provide factual information about the parties or any of their respective subsidiaries or affiliates. The Merger Agreement contains representations and warranties by Bitdeer, the Acquisition Entities and BSGA, which were made only for purposes of that agreement and as of specific dates set forth therein and solely for the benefit of the parties to the Merger Agreement. These representations and warranties may be subject to limitations agreed upon by the contracting parties and may be subject to standards of materiality applicable to the contracting parties that differ from those generally applicable to investors. Investors are not third-party beneficiaries under the Merger Agreement. </font>
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          <font style="letter-spacing:-0.2pt;">Covenants</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Each of Bitdeer, BSGA Parties and the Acquisition Entities covenants and agrees, among other things, that: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">each party shall, and shall cause its subsidiaries to, (a)&#160;conduct their respective business only in the ordinary course consistent with past practice in all material respects, (b)&#160;subject to the terms and conditions in the Merger Agreement, not to amend its organizational documents, change its share capital, enter into, amend or terminate any material contract, make any capital expenditure in excess of US$5,000,000, pay dividends or other distribution, make certain changes with respect to equity awards or equity incentive plan, incur any indebtedness in excess of US$5,000,000, commence, settle, release, waive or compromise certain action, litigation, arbitration or other proceedings, make any acquisition in excess of US$5,000,000, fail to maintain material insurance policies, make certain change in accounting principles or methods of accounting, make certain disposal of equity securities, make certain changes with regard to tax, and (c)&#160;use its reasonable best efforts to preserve intact its assets, keep available the services of its current officers and key employees and maintain in all material respects its current relationships with suppliers, customers and other third parties with which it has material business relations; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">each party shall, to the best of their abilities, (a)&#160;continue to give the other parties, their legal counsel and other representatives full access to the offices, properties, and books and records, (b)&#160;furnish to the other parties, their legal counsel and other representatives such information relating to the business of such party as such party may reasonably request and (c)&#160;cause its respective employees, legal counsel, accountants and representatives to cooperate with the other parties in such other parties&#8217; investigation of its business; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:4.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">each party shall promptly notify the other party upon receipt of certain notices, including, among other aspects, notice from any person that such person&#8217;s consent is required for consummating the Business Combination and any notice from any government, regulatory or administrative in connection with the Business Combination; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:4.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">each party shall comply with or cooperate to ensure the responsible party&#8217;s compliance with the SEC filing requirements , including a proxy statement and registration statement in connection with BSGA&#8217;s </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">116</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">special meeting of shareholders for seeking approval of the Business Combination, periodical reports that BSGA is required to file with the SEC and a Form 8-K announcing the Business Combination; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the BSGA Parties shall make appropriate arrangements to cause the funds in the Trust Account to be disbursed in accordance with the Investment Management Trust Agreement executed in connection with the IPO and for the payment of (i)&#160;all amounts payable to shareholders of BSGA that have validly redeemed their BSGA Units or such ordinary shares, (ii)&#160;the expenses of the BSGA Parties to the third parties to which they are owed, (iii)&#160;the Deferred Underwriting Amount to the underwriter in the IPOs and (iv)&#160;the remaining monies in the Trust Account to the BSGA Parties; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">immediately after the effective time of the Acquisition Merger, BTG board of directors will consist of directors and independent directors designated by Bitdeer, provided, however, the composition of such board of directors shall comply with the requirements of SEC and Nasdaq. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, the Merger Agreement contains certain covenants of Bitdeer, including, among other things, that Bitdeer or its subsidiaries, as applicable, shall: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">deliver certain financial statements to BSGA within the time period set forth under the Merger Agreement; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">take all action necessary to obtain Bitdeer shareholder approval of the Business Combination within the timeframe set forth under the Merger Agreement. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Conditions to Each Party&#8217;s Obligations</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Closing is subject to the satisfaction or waiver of certain customary conditions by the parties thereto, including, among others, (i)&#160;approval of the Business Combination contemplated by the Merger Agreement by the shareholders of BSGA and Bitdeer; (ii)&#160;effectiveness of the registration statement; (iii)&#160;expiration or termination of the waiting period under antitrust laws; (iv)&#160;receipt of approval for listing on the Nasdaq of BTG Class&#160;A Ordinary Shares; and (v)&#160;BSGA having at least US$5,000,001 of net tangible assets remaining immediately after the Closing. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The obligations of BSGA Parties to consummate the Business Combination are conditioned upon, among other things, (i)&#160;the accuracy of the representations and warranties of Bitdeer and the Acquisition Entities (subject to customary bring-down standards); (ii)&#160;the covenants of Bitdeer and the Acquisition Entities having been performed in all material respects; and (iii)&#160;no material adverse effect (as defined in the Merger Agreement) with respect to Bitdeer and the Acquisition Entities shall have occurred. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The obligations of Bitdeer to consummate the transactions contemplated by the Merger Agreement are conditioned upon, among other things, (i)&#160;the accuracy of the representations and warranties of BSGA (subject to customary bring-down standards); and (ii)&#160;the covenants of BSGA having been performed in all material respects. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Termination</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Merger Agreement may be terminated at any time prior to the Closing, </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">by mutual written consent of BSGA and Bitdeer; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">by either BSGA or Bitdeer if the transactions contemplated by the Merger Agreement are not consummated on or before May&#160;31, 2022 (the &#8220;Outside Closing Date&#8221;), provided that the terminating party&#8217;s failure to fulfill any of its obligations under the Merger Agreement is not the primary cause of the failure of the Closing to occur by such date; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">by either BSGA or Bitdeer if a governmental entity shall have issued an order, decree or ruling or taken any other action, in any case having the effect of permanently enjoining or prohibiting the Closing, which order, decree, judgment, ruling or other action is final and non appealable; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">by either BSGA or Bitdeer if, the Business Combination Proposal and the other Proposals are not approved by BSGA&#8217;s shareholders; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">by BSGA if Bitdeer shall fail to obtain Bitdeer shareholder approval; or </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">117</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:92.83pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">by BSGA, Bitdeer or any Acquisition Entity if the other party has breached any of its representations, warranties, agreements or covenants which would result in the failure of certain conditions to be satisfied at the Closing and has not cured its breach within the period set forth under the Merger Agreement, provided that the terminating party&#8217;s failure to fulfill any of its obligations under the Merger Agreement is not the primary cause of the failure of the Closing to occur. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Related Agreements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Voting and Support Agreement</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Concurrently with the execution of the Merger Agreement, BTG, BSGA and Bitdeer also entered into a Voting and Support Agreement with certain Bitdeer shareholder (the &#8220;Supporting Shareholder&#8221;) with respect to the shares of Bitdeer currently owned by the Supporting Shareholder. The Voting and Support Agreement provides that the Supporting Shareholder will appear at shareholders meetings of Bitdeer and vote, consent or approve the Merger Agreement and the transactions contemplated by the Merger Agreement, whether at a shareholder meeting of Bitdeer or by written consent. It further provides that the Supporting Shareholder will vote against (or act by written consent against) any alternative proposals or actions that would impede, interfere with, delay, postpone or adversely affect the transactions contemplated by the Merger Agreement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Lock-up Agreement</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Concurrently with the closing of the Merger Agreement, certain holders of at least 95% of the outstanding shares of the Company immediately prior to the closing (collectively, the &#8220;Lock-up Shareholders&#8221;) will enter into certain lock-up agreements (the &#8220;Lock-up Agreements&#8221;) with BTG, pursuant to which each Lock-up Shareholder agrees to, among other things, to lock up all equity interests of BTG held by such Lock-up Shareholder immediately after the effective time of the Acquisition Merger for a period of 180&#160;days from such effective time, subject to certain exceptions. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Directors and Executive Officers of BTG Following the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">All of the directors on the Board shall resign at the Closing. The board of directors of BTG will initially consist of seven directors immediately after the consummation of the Business Combination. Of these initial seven directors, three will be independent. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Voting and Support Agreement</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Concurrently with the execution of the Merger Agreement, BTG, BSGA, and Bitdeer also entered into the Voting and Support Agreement with certain Bitdeer Shareholders with respect to the shares of Bitdeer currently owned by the Bitdeer Shareholders. The Voting and Support Agreement provides that the Bitdeer Shareholders will appear at shareholders meetings of Bitdeer and vote, consent or approve the Merger Agreement and the Business Combination, whether at a shareholder meeting of Bitdeer or by written consent. It further provides that the Bitdeer Shareholder will vote against (or act by written consent against) any alternative proposals or actions that would impede, interfere with, delay, postpone or adversely affect the Merger or the Business Combination.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">118</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">Ownership and Transaction Structure</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The following diagrams illustrate in simplified terms the current structure of each of BSGA and Bitdeer, the steps of the proposed Business Combination, and the expected structure after the Business Combination. </font>
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        <div style="position:relative;margin-top:11.19pt; text-align:center; width:456pt;">
          <img src="tm2135137d1-fc_ownerbwlr.jpg" alt="[MISSING IMAGE: tm2135137d1-fc_ownerbwlr.jpg]" height="757" width="370" >
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        <div style="margin-top:7.19pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Treated as a disregarded entity for U.S. federal income tax purposes. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">119</font>
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          <font style="letter-spacing:-0.2pt;">Background of the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BSGA is a blank check company incorporated on February 23, 2021 as a BVI business company with limited liability and incorporated for the purpose of effecting a merger, a share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more target businesses. </font>
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          <font style="letter-spacing:0.2pt;">Prior to the consummation of the IPO on June 9, 2021, neither BSGA, nor anyone on its behalf, had contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to a transaction with BSGA. </font>
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          <font style="letter-spacing:0.2pt;">The following is a brief description of the background of BSGA&#8217;s search for and discussion with various potential target companies. </font>
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          <font style="letter-spacing:0.2pt;">From the consummation date of BSGA&#8217;s IPO on June 9, 2021 through November 18, 2021, the execution date of the Merger Agreement with Bitdeer, BSGA considered a total of 16 potential target companies with the objective of consummating a business combination. BSGA&#8217;s representatives contacted and were contacted by a number of individuals and entities who offered to present ideas and opportunities for a business combination, including financial advisors and companies that have their operations in either the United States or Asia. BSGA compiled a list of potential targets and updated and supplemented such list from time to time. Such list was periodically shared with the BSGA Board. </font>
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          <font style="letter-spacing:0.2pt;">During the search period, BSGA and its representatives: </font>
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          <font style="letter-spacing:0.2pt;">Identified and evaluated approximately 15 potential target companies (other than Bitdeer) across a range of sectors including but not limited to luxury, technology, biotech, education, blockchain enabled services and fintech;</font>
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          <font style="letter-spacing:0.2pt;">Among the companies it had evaluated, BSGA executed non-disclosure agreements with approximately 5 potential targets businesses or their representatives (other than Bitdeer) in order to receive further detailed information about these potential targets;</font>
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          <font style="letter-spacing:0.2pt;">BSGA&#8217;s representative, management and/or the board engaged in discussions directly with the senior executives and/or representatives of approximately 5 alternative potential targets (other than Bitdeer); and</font>
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          <font style="letter-spacing:0.2pt;">Among the potential targets, BSGA executed a letter of intent and entered into substantive negotiations and due diligence with two potential target businesses (including Bitdeer). </font>
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          <font style="letter-spacing:0.2pt;">From around June&#160;15, 2021, BSGA&#8217;s management and board were introduced to various potential acquisition targets by BSGA&#8217;s advisors and contacts of BSGA&#8217;s management and board that might potentially meet the BSGA management team&#8217;s preliminary target selection criteria. BSGA&#8217;s management and board reviewed, among others, the financial performance, management team, industry and a description of each potential candidate. Following such initial review, BSGA&#8217;s search team selected preliminarily qualified candidates and continued with second stage review by conducting conference calls and collecting more detailed business information of the candidates. </font>
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          <font style="letter-spacing:0.2pt;">From June 2021 to July 2021, and again from September 2021 to October 2021, BSGA held a number of internal meetings to discuss preliminary candidates. At each meeting, BSGA reviewed and discussed the qualifications of those candidates. In reviewing approximately 15 potential targets (excluding Bitdeer) from time to time, and holding discussions with their respective management, BSGA focused on three other potential companies before BSGA identified Bitdeer as a preferred acquisition target. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Company A</font><font style="letter-spacing:0.2pt;">:&nbsp;&nbsp;&nbsp;On or around June 19, 2021, Company A, which is not affiliated with BSGA or to any affiliated business entities of BSGA, was referred to BSGA&#8217;s team through a financial advisor for Company A. Company A is a global camera developer and manufacturer. On July 5, 2021, after reviewing basic information of Company A, BSGA&#8217;s management and board determined to proceed the discussion with Company A diligence questions for a potential merger. At the end of July 2021, BSGA decided not to proceed with Company A because BSGA decided to focus on its target industry of fintech, infotech and business services and concurrently, Company A decided to pursue alternative funding strategies. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Company B</font><font style="letter-spacing:0.2pt;">:&nbsp;&nbsp;&nbsp;On June 24, 2021, Company B, which is not affiliated with BSGA or any affiliated business entities, was referred to BSGA&#8217;s search team. Company B is a crypto mining company with operations in Canada and the United States. On July 17, 2021, after reviewing information of Company B and holding meetings with Company B&#8217;s management, BSGA&#8217;s management and board decided to proceed with Company&#160;B as a potential merger candidate. On July 22, 2021, BSGA entered into a letter of intent with Company B. From July 2021 through September 2021, BSGA&#8217;s representatives visited Company B&#8217;s office, conducted financial and legal diligence and reviewed Company B&#8217;s financial information, management structure and business model. BSGA team had detailed negotiations regarding the merger agreement, lockup and ancillary terms. The BSGA board passed a board resolution on August 23, 2021, in preparation to enter into a definitive merger agreement with Company B. However, at the end of September 2021, BSGA and Company B decided not to move forward with the business combination due to changes in Company B&#8217;s business operations and the expiration of exclusivity. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Company C</font><font style="letter-spacing:0.2pt;">:&nbsp;&nbsp;&nbsp;On June 24, 2021, Company C, which is not affiliated with BSGA or any of its affiliated business entities, was referred to BSGA&#8217;s management team. Company C is a leading crypto exchange platform in South-east Asia. On around July 8, 2021, after reviewing basic information of Company C, BSGA&#8217;s management team proceeded to discuss with Company C diligence questions for a potential merger. BSGA&#8217;s management team had multiple meetings with representatives and senior management of Company C. At the end of July 2021, BSGA ceased its discussion with Company C because Company C decided to explore a traditional initial public offering and alternative funding strategies. </font>
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          <font style="letter-spacing:0.2pt;">In respect to other alternative potential targets, the reasons that discussions did not continue included (1) a difference in valuation expectations, sometimes driven by competitive sale side auction, (2) the BSGA management and board&#8217;s belief that the alternative potential target is less attractive than Bitdeer with respect to factors such as competitive positioning, management experience and hash rate, (3) geopolitical risks associated with the target&#8217;s business and (4)&#160;the stage of the potential target company&#8217;s business making certain targets unsuitable to becoming publicly listed companies in the next 12 months. </font>
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          <font style="letter-spacing:-0.2pt;">Timeline of the Business Combination</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In April 2021, Bitdeer and a prior special purpose acquisition company sponsored by an affiliate of BSGA (&#8220;SPAC I&#8221;), were introduced to each other. SPAC I reviewed preliminary materials regarding Bitdeer. The parties did not move forward with entering into a business combination as it became clear to Bitdeer and SPAC I that Bitdeer would need more time to communicate with its shareholders and obtain their consent to the proposed business combination, and that a proposed transaction could not have been consummated within the expected timeline of SPAC I for consummating its initial business combination. Thereafter, SPAC I executed an exclusive Letter of Intent with another target business on May 28, 2021 at which time it ceased discussions with other potential target businesses, including Bitdeer. </font>
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          <font style="letter-spacing:0.2pt;">On June 24, 2021, BSGA&#8217;s management team requested a member of the Sponsor and representative of BSGA to approach Bitdeer to discuss a potential business combination. </font>
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          <font style="letter-spacing:0.2pt;">One June 25, 2021, Bitdeer provided BSGA with presentation materials introducing its business. On the same day and over the next few days, BSGA&#8217;s management team reviewed those material and had a general understanding of Bitdeer&#8217;s operations, business model, key metrics and investment highlights. BSGA&#8217;s management and board discussed a potential business combination with Bitdeer, and whether such transaction was compatible with BSGA&#8217;s timeline for completing a business combination. </font>
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          <font style="letter-spacing:0.2pt;">On June 29, 2021, BSGA and Bitdeer held their first in-depth discussion, which was attended by Bitdeer&#8217;s senior management and BSGA&#8217;s board and management team. The parties discussed Bitdeer&#8217;s business model, growth, history, suppliers, management team background, as well as commercial and capital-raising plans. On the same day, BSGA and Bitdeer executed a non-disclosure agreement and Bitdeer granted data room access to the BSGA board and management team. </font>
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          <font style="letter-spacing:0.2pt;">From June 29, 2021 to July 20, 2021, BSGA reviewed documents in the data room and compiled follow up requests and diligence questions. BSGA requested further information to better understand Bitdeer&#8217;s energy cost prices, revenue and business model, cloud hash rate details, growth and customers, among others. </font>
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          <font style="letter-spacing:0.2pt;">From July 20, 2021 to July 26, 2021, BSGA&#8217;s board and management team discussed certain proposed terms to be included in a draft non-binding letter of intent for a potential business combination between BSGA and Bitdeer. Representatives from both parties discussed the terms of a potential letter of intent.</font>
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          <font style="letter-spacing:0.2pt;">On July 26, 2021, BSGA signed a non-binding letter of intent with Bitdeer. </font>
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          <font style="letter-spacing:0.2pt;">In August 2021, Bitdeer entered into a letter of intent with another special purpose acquisition company (&#8220;SPAC&#160;II&#8221;), which included an exclusivity clause. As such, negotiations and discussions between Bitdeer and BSGA were suspended. </font>
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          <font style="letter-spacing:0.2pt;">In October 2021 and after the expiration of Bitdeer&#8217;s exclusivity with SPAC II, representatives of Bitdeer and BSGA had further discussions during which each party expressed its continued interest in a potential business combination. On the same day, BSGA&#8217;s management team hosted additional due diligence meetings with Bitdeer&#8217;s senior management, and discussed action plan and proposed timeline for a potential business combination. </font>
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          <font style="letter-spacing:0.2pt;">Beginning October 28, 2021, BSGA and their financial advisors and legal counsel discussed the plans for due diligence, valuation and negotiation process. </font>
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          <font style="letter-spacing:0.2pt;">During the period from October 28, 2020 to November 17, 2021, BSGA&#8217;s management team, and its financial and legal advisors, conducted due diligence on Bitdeer, including but not limited to review of Bitdeer&#8217;s corporate documents, compliance, operations, financial information, business plan, and other material agreements. The parties held a series of due diligence conference calls, in-person meetings to discuss follow up due diligence request and questions. </font>
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          <font style="letter-spacing:0.2pt;">From October 29, 2021 to November 14, 2021, BGAdvisory, financial advisor to BSGA, reviewed documents in the virtual data room, as further supplemented from information request lists, and attended multiple financial due diligence meeting with Bitdeer over video conference and on-site. </font>
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          <font style="letter-spacing:0.2pt;">On November 11, 2021, BGAdvisory provided BSGA with a first draft of a financial due diligence report summarizing the findings of their financial due diligence review of Bitdeer. BSGA&#8217;s management team reviewed the draft report and discussed certain findings with BGAdvisory. On November 14, 2021, BGAdvisory provided BSGA with the final draft of its financial due diligence report. </font>
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          <font style="letter-spacing:0.2pt;">From October 2021 to November 2021, counsel engaged by BSGA, including Davis Polk &amp; Wardwell&#160;LLP (&#8220;Davis Polk&#8221;), Shook Lin &amp; Bok and Haiwen &amp; Partners (&#8220;Haiwen&#8221;), conducted diligence review on Bitdeer, covering key aspects of Bitdeer&#8217;s business and legal matters, including regulatory compliance, operations, management and material contracts. Each such firm reviewed documents in the virtual data room, as further supplemented by response to additional information request lists, and attended multiple due diligence meetings with Bitdeer via video conference. Each counsel delivered its respective diligence report to BSGA in late November 2021. </font>
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          <font style="letter-spacing:0.2pt;">From October 29, 2021 to November 17, 2021, Royson Valuation Advisory Limited, valuation advisor to BSGA, reviewed documents in the virtual data room, as further supplemented from information request lists, and attended multiple due diligence meeting with Bitdeer over video conference. On November 8, 2021, Royson provided BSGA with a first draft of a valuation report summarizing the preliminary valuation of the Company based on the assumptions stated in their report. BSGA&#8217;s management reviewed the preliminary valuation and discussed the key findings therein with Royson. On November 17, 2021, Royson provided BSGA with the final draft of its valuation report, which was reviewed by an international accounting firm and deemed to be reasonable. For further information regarding the valuation report, see &#8220;Opinion of the BSGA&#8217;s Valuation Advisor.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">During the same period, representatives of BSGA and representatives of Bitdeer negotiated the terms of the definitive agreement. On October 29, 2021, BSGA discussed with Haiwen regarding key terms of the draft merger agreement, including the deal structure, the lock-up requirements, the closing conditions and certain other terms relating to deal certainty. On November 2, 2021, Haiwen circulated the first draft of the merger agreement to Bitdeer and Cooley LLP (&#8220;Cooley&#8221;), legal counsel to Bitdeer. </font>
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          <font style="letter-spacing:0.2pt;">On November 2, November 3, and November 11, 2021, the BSGA board and management team virtually conducted site due diligence of Bitdeer&#8217;s facilities in the United States and Norway, and met and interviewed </font>
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          <font style="letter-spacing:0.2pt;">senior members of the local facilities. The focus of the discussions was matters relating to Bitdeer&#8217;s mining operations at each site. </font>
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          <font style="letter-spacing:0.2pt;">In November 2021 and subsequent to the initial circulation of the draft Merger Agreement, Haiwen, Davis Polk and Cooley exchanged drafts of the Merger Agreement and related ancillary documents, the most significant exchanges of which are summarized in more details below, and in connection with each exchange they also held a number of phone discussions and video-conferences regarding the Merger Agreement and the other ancillary documents. In connection with these draft exchanges and discussions, Haiwen, Cooley and Davis Polk also had regular contact with their respective clients during this period to keep them apprised of the status of the Merger Agreement and related ancillaries and also solicited their feedback in connection with the negotiation of the documents. The principal terms of the Merger Agreement and related ancillary documents being negotiated during such time related to, among other things, (i) the structure and terms of the merger as contemplated in the Merger Agreement, (ii) the scope of the representations, warranties and covenants, (iii) the applicable conditions and approvals required to consummate the Business Combination, (iv) corporate governance of BTG, including the Amended BTG Articles, and (v) the scope and the terms of the Voting and Support Agreement, form lock-up agreement and other ancillary documents relating to the Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">On November 7, 2021, Cooley sent Haiwen and Davis Polk a revised draft of the Merger Agreement that proposed revisions to the overall suite of representations, warranties and covenants to be provided by each party under the Merger Agreement, including, among other things, revisions to the scope of the interim operating covenants of Bitdeer and BSGA. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On November 15, 2021, Cooley and Haiwen held telephone conferences to further discuss the scope of representations, warranties and covenants of the parties to the Merger Agreement.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On November 8, 2021, the BSGA Board held a meeting via video teleconference. BSGA&#8217;s management team attended the meeting and presented key findings of diligence conducted by the management and BSGA&#8217;s legal advisors and the valuation report. The BSGA Board discussed due diligence findings and valuation report presented by the BSGA management, as well the status of various work streams related to the propose business combination. </font>
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          <font style="letter-spacing:0.2pt;">From November 9, 2021 to November 11, 2021, Haiwen, Cooley and Davis Polk exchanged drafts of Merger Agreement and ancillary documents relating to the Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">On November 12, BSGA, Bitdeer, Davis Polk, Haiwen, Cooley held a conference call to discuss certain issues and other matters related to the November 11, 2021 draft of the Merger Agreement, including, without limitation, the scope of the lock-up subsequent to the consummation of the Business Combination, the scope of the representations, warranties and interim operating covenants of Bitdeer and BSGA. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On November 13, 2021, the BSGA Board held another meeting via video conference. BSGA&#8217;s management team attended the meeting. During the meeting, the BSGA Board further discussed findings of BSGA and its advisors&#8217; due diligence, the valuation report and the proposed terms of the Merger Agreement.</font>
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          <font style="letter-spacing:0.2pt;">On November 18, 2021, upon review of the final draft of the Original Merger Agreement and related agreements, the BSGA Board signed the unanimous written resolutions and Mr.&#160;Jihan Wu, the sole director of Bitdeer, signed the written resolutions, respectively, approving the Merger Agreement and related agreements as well as transactions contemplated thereby. On the same day, BSGA and Bitdeer issued a joint press release announcing the execution of the definitive Merger Agreement (the &#8220;Original Merger Agreement&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">Subsequent to the execution of the Original Merger Agreement, in November 2021, BSGA and Bitdeer decided to amend the structure of the Business Combination taking into account of tax, accounting and other considerations as well as Bitdeer&#8217;s preference for BTG to list its ADSs on Nasdaq. BSGA and Bitdeer intended to restate and amend the Original Merger Agreement in full to effect a change in structure of the Business Combination without affecting any underlying economic interests of BSGA or Bitdeer under the Original Merger Agreement. </font>
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          <font style="letter-spacing:0.2pt;">On December 5, 2021, Cooley sent to Davis Polk and Haiwen an initial draft of the amended and restated agreement and plan of merger (the &#8220;Amended and Restated Merger Agreement&#8221;) which reflected the proposed </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">structural changes to the Business Combination as previously agreed by the parties. During the period from December 5 to December 15, 2021, Cooley, Davis Polk and Haiwen exchanged drafts of the Amended and Restated Merger Agreement to reflect tax and other legal considerations and held phone discussions regarding the Amended and Restated Merger Agreement. </font>
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          <font style="letter-spacing:0.2pt;">On December 15, 2021, upon review of the final draft of the Amended and Restated Merger Agreement and related agreements, the BSGA Board signed the unanimous written resolutions and Mr.&#160;Jihan Wu, the sole director of Bitdeer, signed the written resolutions, respectively, approving the Amended and Restated Merger Agreement and related agreements as well as transactions contemplated thereby. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA&#8217;s Board Discussion of Valuation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">Engagement of Valuation Advisor to BSGA</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BSGA retained Royson Valuation Advisory Limited (&#8220;Royson&#8221;) to provide to the Board with an opinion regarding the valuation of Bitdeer. BSGA also retained an international accounting firm (&#8220;Audit Firm&#8221;) to further review Royson&#8217;s work product regarding the reasonableness of the methodologies as well as the results thereof. Royson provided BSGA with their opinion dated November 17, 2021 (the &#8220;Original Valuation Report&#8221;), which was reviewed by the Audit Firm on the same date. </font>
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          <font style="letter-spacing:0.2pt;">In selecting Royson, BSGA considered, among other things, the fact Royson, as part of its services, is frequently engaged in the valuation of businesses and their securities in connection with mergers and acquisitions. Neither Bitdeer nor BSGA had previously engaged Royson for any matters other than the engagement by an affiliates of the Sponsor for valuation services in connection with an unrelated transaction. Royson received a non-contingent fixed fee of US$120,000 as compensation for the delivery of its valuation opinion in connection with the proposed Business Combination and the updated valuation opinion. Payment of the opinion fee to Royson is not dependent upon completion of the Business Combination or the findings of Royson with respect to valuation. </font>
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          <font style="letter-spacing:0.2pt;">In selecting the Audit Firm, BSGA considered, among other things, that the Audit Firm has a reputable international presence with substantial experience advising companies on valuation and related matters. The Audit Firm, as part of its business, is frequently and continuously engaged in the valuation of businesses and their securities in connection with mergers and acquisitions, private placements and valuations for corporate and other purposes. Neither BSGA nor Bitdeer had previously engaged the Audit Firm for any matters and had no prior relationship with the Audit Firm other than the engagement by an affiliate of the Sponsor for valuation services in connection with an unrelated transaction. BSGA paid the Audit Firm a non-contingent fixed fee of US$40,000 as compensation for the review of Royson&#8217;s opinion in connection with the proposed Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">Neither Royson nor the Audit Firm received instructions from BSGA, Bitdeer or any of their respective affiliates. BSGA, Bitdeer and their respective affiliates did not impose any limitation on the scope of Royson&#8217;s or the Audit Firm&#8217;s investigations of Bitdeer&#8217;s value. </font>
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          <font style="letter-spacing:-0.2pt;">Opinion of BSGA&#8217;s Valuation Advisor</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Royson rendered the Original Valuation Report to BSGA on the fair market value of a 100% equity interest of Bitdeer as of September 30, 2021 (&#8220;Appraisal Date&#8221;) based upon and subject to the factors and assumptions set forth therein. </font>
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          <font style="letter-spacing:-0.2pt;">The full text of the written opinion of Royson, dated November 17, 2021, which sets forth assumptions made, procedures followed, matters considered and qualifications and limitations on the review undertaken in connection with the opinion, is attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Annex D-1</font><font style="letter-spacing:-0.2pt;">. You are encouraged to read the opinion in its entirety for a discussion of the assumptions made, procedures followed, matters considered and qualifications and limitations upon the scope of the review undertaken by Royson in rendering its opinion. Royson&#8217;s opinion is directed to BSGA and addresses only their opinion on the fair market value of 100% equity interest in Bitdeer as of September 30, 2021. The Royson opinion is not a recommendation as to how any holder of BSGA ordinary shares should vote with respect to the Business Combination or any other matter. The summary of the opinion of Royson set forth below is qualified in its entirety by reference to the full text of the opinion.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In connection with rendering the Original Valuation Report to the BSGA Board, Royson performed a number of processes and procedures, including the following: </font>
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          <font style="letter-spacing:0.2pt;">Collected and analyzed the relevant historical financial statements and other financial and operational information of Bitdeer received from Bitdeer&#8217;s management (the &#8220;Management&#8221;);</font>
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          <font style="letter-spacing:0.2pt;">Conducted interviews with Bitdeer&#8217;s management in relation to Bitdeer&#8217;s history, operations, and prospects of its business;</font>
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          <font style="letter-spacing:0.2pt;">Researched the general economic outlook and the outlook for the specific industry affecting the business of Bitdeer, its industry and its markets; </font>
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          <font style="letter-spacing:0.2pt;">Examined the reasonableness of the information as well as other records and documents provided by the Management, in light of their research and analysis on the industry and economic data;</font>
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          <font style="letter-spacing:0.2pt;">Determined the most appropriate valuation method for the valuation; </font>
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          <font style="letter-spacing:0.2pt;">Identified the comparable companies of Bitdeer; </font>
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          <font style="letter-spacing:0.2pt;">Developed the appropriate discount rate that reflects the return of entities engaged in a similar line of business and returns from other similar types of projects of Bitdeer;</font>
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          <font style="letter-spacing:0.2pt;">Reviewed the underlying assumptions of the financial projections of Bitdeer furnished to it by the Management (the &#8220;Projection&#8221;);</font>
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          <font style="letter-spacing:0.2pt;">Evaluated the business enterprise value of Bitdeer based on the assumptions and valuation methods stated in the report; and</font>
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          <font style="letter-spacing:0.2pt;">Consulted, reviewed and replied on certain discussions with representatives of BSGA and Bitdeer and certain parties and their financial and legal advisors. </font>
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          <font style="letter-spacing:0.2pt;">The opinion of value provided by Royson is based on generally accepted valuation procedures and practices that rely extensively on the use of numerous assumptions and the consideration of many uncertainties, not all of which can be easily quantified or ascertained. Any variation to the assumptions and limiting conditions presented in the following report could seriously affect Royson&#8217;s opinion of value. Royson has not audited, reviewed, or compiled the financial information provided to them and, accordingly, Royson expresses no audit opinion or any other form of assurance on this information. </font>
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          <font style="letter-spacing:0.2pt;">In addition, in arriving at its opinion, Royson assumed as relied, with BSGA&#8217;s consent, on the following contingent and limiting conditions: (i) public, industry, statistical, and other information furnished by others, upon which all or portions of this analysis is based is reliable, (ii) the information supplied by Management was complete and accurate to the best of the Management&#8217;s knowledge and that the financial statement information reflects the results of operations and financial and business condition of Bitdeer was in accordance with generally accepted accounting principles, unless otherwise noted, (iii) the financial statements and other related information supplied by Bitdeer were accepted as correct without further verification, (iv) no material facts have been withheld, (v) there will be no major changes in the existing political, legal, fiscal and economic conditions in which Bitdeer carries on its business, (vi) there will be no major changes in the current taxation law in the country where Bitdeer operates, that the rates of tax payable will remain unchanged and that all applicable laws and regulations will be complied with, (vii) there will be no material changes in the industry in which Bitdeer involves that would materially affect the revenue, profits or cash flows attributable to Bitdeer, (viii) Bitdeer and/or its partners will obtain the necessary licenses and approvals to provide its services, (ix)&#160;exchange rates and interest rates will not differ materially from those presently prevailing, (x) the availability of finance will not be a constraint on the forecasted growth of operations of Bitdeer, (xi) Bitdeer will maintain its competitiveness and market share through optimizing the utilization of its resources and expanding its marketing network, (xii) Bitdeer can keep abreast of the latest development of the industry such that its competitiveness and profitability can be sustained, (xiii) Bitdeer will utilize and maintain its current operational, administrative and technical facilities to expand and increase its sales, (xiv) Bitdeer will be able to secure funds to repay its debts when they fall due, (xv) Bitdeer will retain and have competent management, key personnel, and technical staff to support its ongoing operations, (xvi) industry trends and market conditions for related industries will not deviate materially from economic forecasts, (xvii) Bitdeer has no material unrecorded and/or contingent asset/liability as at the Appraisal Date, (xviii) the Projection has been prepared on a reasonable basis, reflecting estimates which have been arrived at after due and careful </font>
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          <font style="letter-spacing:0.2pt;">consideration by the Management, (xix) the effective tax rate of Bitdeer is 22.00%, and (xx) the perpetual growth rate adopted in the valuation is 5.00%. </font>
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          <font style="letter-spacing:0.2pt;">Royson&#8217;s opinion was based on business, economic, monetary, market and other considerations as they existed and could reasonably be evaluated on, and the information made available to Royson as of, the date thereof. In particular, Royson noted that there was significant uncertainty in Bitdeer&#8217;s industry and significant volatility in the future development of Bitcoin and cryptocurrencies. Subsequent developments may have affected the opinion, and none of BSGA, Bitdeer, or Royson assume responsibility for updating or revising the opinion based on circumstances or events occurring after the date thereof (regardless of the closing date of the Business Combination). Royson&#8217;s opinion is valid only as of the Appraisal Date and Royson takes no responsibility for changes in market conditions and assume no obligation to revise their conclusion of value to reflect events or conditions which occur subsequent to the valuation date. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following is a summary of the material analyses delivered by Royson to BSGA in connection with rendering the Original Valuation Report described above. The following summary, however, does not purport to be a complete description of the analyses performed by Royson, nor does the order of analyses described represent relative importance or weight given to those analyses by Royson. Except as otherwise noted, the following information, to the extent that it is based on market data, is based on market data as it existed on or as of September 30, 2021 and is not necessarily indicative of the current market conditions. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Royson&#8217;s Selection of Valuation Methods</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The valuation approach is determined based on professional judgment and technical expertise after detailed analysis on facts and circumstances. Key factors Royson considered include, among other criteria, business nature and stage of development of the subject entity, the quantity and quality of the information provided, access to available data, supply of relevant market transactions, type and nature of the subject asset, purpose and objective of the valuation. Royson has considered the three generally recognized valuation approaches, namely cost approach, income approach, and market approach. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under the cost approach, the fair market value of equity interest is determined based on the replacement costs or reproduction costs of assets rather than the ability to generate streams of benefits in the future. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The value of a service company like Bitdeer is more driven by the future earnings to be generated than the value of its assets. Bitdeer has established its own brand, its customer base and its business networks. These are the intangible assets that exist in the business but not capitalized. Thus, the relationship between the fair market value and the book costs is weak for Bitdeer. Therefore, Royson did not adopt the cost approach. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under the market approach, there are two primary methods. The first, sometimes referred to as the comparable transactions method, involves determining valuation multiples from sales of enterprises with similar financial and operating characteristics and applying those multiples to the subject enterprise. The second, sometimes referred to as the Guideline Publicly-Traded Comparable Method, involves identifying and selecting publicly traded enterprises with financial and operating characteristics similar to the enterprise being valued. Different value measures or market multiples of the comparable companies are calculated and analyzed to induce a series of multiples that are considered representative of the industry average. Once publicly traded enterprises are identified, valuation multiples can be derived, adjusted for comparability, and then applied to the subject enterprise to estimate the value of its equity or enterprise value. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">According to Royson&#8217;s research, there were certain merger and acquisition transactions regarding cryptocurrencies mining companies that took place in the recent two years. However, there are limited historical and forecast operational and financial information available on these newly listed or acquired entities. Thus, the Comparable Transactions Method was not selected. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On the other hand, several major market players in the Bitcoin mining sector have been listed. Thus, the Guideline Publicly-traded Comparable Method has been selected as the principal valuation method for the valuation of Bitdeer. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Discounted cash flow analysis relies on explicit financial forecasts which require many assumptions, including but not limiting to the forecasted Bitcoin price, the future total Bitcoin network hash rate, the size of transactions, the future transaction fees, the pace of market acceptance of cryptocurrency, the availability of </font>
        </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">126</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">mining rigs and mining farms, the stability of electricity supply, among others. There is considerable uncertainty related to each assumptions. Therefore, the discount cash flow approach was not adopted. However, the Management prepared projections based on historical financial and operating data and the latest business plan. Thus, Royson has reviewed and applied the discounted cash flow analysis only as a secondary approach to cross check the valuation result derived from the market approach. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Selection of Comparable Publicly-traded Company Analysis</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In applying the Guideline Publicly-traded Comparable Method under the market approach, the fair market value is based on prices at which stocks of similar companies are trading in a public market. A &#8220;value measure&#8221; is usually a multiple computed by dividing the price of the guideline company&#8217;s stock as at the valuation date by certain relevant economic variable observed or calculated from the guideline company&#8217;s financial statements. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A major requirement in applying the Guideline Publicly-traded Comparable Method is to identify companies that are comparable to the subject company in terms of business nature and associated risks. Royson selected comparable companies (the &#8220;Comparable Companies&#8221;) they believe to be suitable for this valuation primarily based on the following criteria: (1) principally engaged in similar business (i.e., Bitcoin mining); (2) listed on a reputable capital market for not less than 12 months from the Appraisal Date; (3) with disclosure on their key performance and financial metrics such as hash rate, and earnings before interest, tax and depreciation and amortization (&#8220;EBITDA&#8221;); and (4) being expected to be have operating profits in 2021. Royson believes that the Comparable Companies are considered highly, but not perfectly, comparable with Bitdeer in terms of capital structure, operating scale, product mix and business performance metrics. The Comparable Companies are major market players and have a majority of their revenue contributed by Bitcoin mining operations. As such, Royson believes that the below list of the Comparable Companies is considered fair and representative for the purpose of this valuation. A description of these Comparable Companies is summarized below: </font>
        </div>
        <table style="width:456pt;margin-bottom:5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
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            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:101.86pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Comparable Companies </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Principal Business </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:84.14pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Market </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capitalization </font>
                <br >
                <font style="letter-spacing:-0.16pt;">as at the Appraisal Date* </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:108pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Hash rate** </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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              <div>
                <font style="letter-spacing:0.2pt;">1. Riot Blockchain, Inc.</font>
              </div>
              <div style="margin-left:10pt;font-style:italic;">
                <font style="letter-spacing:0.2pt;">(stock ticker: RIOT.US)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:144pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Riot Blockchain, Inc. operates as a digital currency company. The company focuses on buying cryptocurrency and blockchain businesses, as well as supports blockchain technology companies. It also maintains its existing biotechnology business segments. </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:84.14pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">US$2,465.9&#160;million </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:108pt;">
              <div>
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 2.6 EH/s</font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 7.7EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:101.86pt;">
              <div>
                <font style="letter-spacing:0.2pt;">2. Marathon Digital Holdings, Inc.</font>
              </div>
              <div style="margin-left:10pt; margin-top:2pt;font-style:italic;">
                <font style="letter-spacing:0.2pt;">(stock ticker: MARA.US)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:144pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Marathon Digital Holdings, Inc. operates as a cryptocurrency technology company. The company mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of cryptocurrencies. It serves customers worldwide. </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:84.14pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">US$3,146.4&#160;million </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:108pt;">
              <div>
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 2.7EH/s</font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 13.3EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:101.86pt;">
              <div>
                <font style="letter-spacing:0.2pt;">3. HIVE Blockchain Technologies Ltd.</font>
              </div>
              <div style="margin-left:10pt; margin-top:2pt;font-style:italic;">
                <font style="letter-spacing:0.2pt;">(stock ticker: HIVE.CN)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:144pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. The company validates transactions on block chain networks, as well as provides crypto mining and builds bridges between crypto and traditional capital markets. It serves customers worldwide. </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:84.14pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">US$1,024.7&#160;million </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:108pt;">
              <div>
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 1.0 EH/s</font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 3.0EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        </table>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">127</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
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            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:101.86pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Comparable Companies </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:144pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Principal Business </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:84.14pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Market </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capitalization </font>
                <br >
                <font style="letter-spacing:-0.16pt;">as at the Appraisal Date* </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 0.667pt 0pt; width:108pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Hash rate** </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0.417pt 0pt 1.333pt 0pt; width:101.86pt;">
              <div>
                <font style="letter-spacing:0.2pt;">4. Hut 8 Mining Corp.</font>
              </div>
              <div style="margin-left:10pt;font-style:italic;">
                <font style="letter-spacing:0.2pt;">(stock ticker: HUT.CN)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 1.333pt 0pt; width:144pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Hut 8 Mining Corp. operates as a cryptocurrency mining company. The company offers blockchain infrastructure and technology solutions. Hut 8 Mining serves customers in North America. </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 1.333pt 0pt; width:84.14pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">US$1,376.0&#160;million </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 1.333pt 0pt; width:108pt;">
              <div>
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 1.4 EH/s</font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 6.0EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:101.86pt;">
              <div>
                <font style="letter-spacing:0.2pt;">5. Argo Blockchain PLC</font>
              </div>
              <div style="margin-left:10pt; margin-top:2pt;font-style:italic;">
                <font style="letter-spacing:0.2pt;">(stock ticker: ARB.LN)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:144pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Argo Blockchain PLC is principally involved in crypto asset mining. The company&#8217;s mining infrastructure is located at multiple sites in Quebec, Canada. Argo Blockchain serves customers in the United Kingdom. </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:84.14pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">US$767.1&#160;million </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:108pt;">
              <div>
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 1.3 EH/s </font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 3.7EH/s</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.3pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Being the market capitalization as at the Appraisal Date extracted from the Bloomberg terminal.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:3.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
        </div>
        <div style=" margin-top:3.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Research from internet</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">There were two public companies that have were considered but rejected as comparable companies, namely Bit Digital, Inc. and Bitfarms Ltd. Based on research, Royson believed that their publicly available financial information was not sufficient for this valuation, and they were accordingly excluded from the Comparable Companies. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Market Multiple</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In applying the Guideline Publicly-Traded Comparable Method, different value measures or market multiples of the comparable companies are calculated and analyzed to induce a series of multiples that are considered representative of the industry average. Royson applied the relevant industry multiples to the subject company to determine a value for the subject company that is on a freely-traded basis. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Royson applied the market value of enterprise value (&#8220;EV&#8221;) multiple in its valuation of Bitdeer. EV equals to the sum of (1)&#160;market capitalization; (2)&#160;value of total debt; (3)&#160;value of preferred equity and non-controlling interest and less (4)&#160;value of cash and cash equivalents. EV is the value of a company&#8217;s core business operations that is available to all shareholders (debt, equity, preferred, etc.). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Hash rate is a measure of the computational power per second used when mining. More simply, it is the speed of mining. It is measured in&#160;units of hash/second, meaning how many calculations per second can be performed. Machines with a high hash power are highly efficient and can process a lot of data in a single second. In the case of Bitcoin, the hash rate indicates the number of times hash values are calculated for PoW every second. Thus, hash rate is considered as one of the relevant economic multiples for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In recent&#160;years, the prices of Bitcoins have fluctuated greatly. The Bitcoin price has soared by 216% from the last peak on December&#160;17, 2017 at US$20,089 to US$63,554 on April&#160;14, 2021. As at the Appraisal Date, it was valued at US$41,538. The Bitcoin price is generally expected to be on an upward trend, despite the Bitcoin halving event in early 2024. The promising price of Bitcoin boosts the mining revenue and the profitability of mining companies and miners, leading to the gradual business expansion in scale of mining companies. This implies that the pure historical financial information cannot fairly reflect the full picture in near future, as such the forecasted figures for the year ending December&#160;31, 2021 were adopted. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For profitability, prices of Bitcoins can be measured by EBITDA, which is capital structure-neutral by its nature. EBITDA is also useful for transnational comparisons because it does not take into account the distorting effects of individual countries taxation policies. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Specifically, Royson applied the multiples of (1)&#160;EV-to-Forecasted Revenue for 2021, (2)&#160;EV-to-Forecasted EBITDA for 2021, and (3)&#160;EV-to-Hash rate as at the Appraisal Date of the Comparable Companies for this appraisal. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">128</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Based on the available market figures sourced from Bloomberg, Royson arrived at the following ratios of the Comparable Companies: </font>
        </div>
        <table style="width:456pt;height:62.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:235.31pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Average </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Median </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">First </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Third </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Low </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">High </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:235.31pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted Revenue for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.04</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">9.97</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">9.30</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.90</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">8.62</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">11.82</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:235.31pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted EBITDA for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">14.84</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">16.45</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">12.62</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">18.15</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">8.79</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">19.84</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:235.31pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Hash rate as at the Appraisal Date </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">911</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">953</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">775</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,028</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">596</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,102</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:7.8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Because the computational power capacity of the Bitdeer Group is higher than that of the Comparable Companies, the third quartile of the value ratios of the Comparable Companies are selected and considered as reasonable for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indicated EV of Bitdeer is the weighted average of the product of the selected ratios of the Comparable Companies generated and its relevant financial and operational information while equal weighting of 33.33% was assigned in the valuation. To derive the fair market value of the entire equity interest, the net debts and non-operating assets and liabilities are first deducted from the indicated EV and finally, the result is subject to a discount for a lack of marketability adjustment on Bitdeer&#8217;s shares. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Review by Audit Firm for Reasonableness of Valuation</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Audit Firm was retained by BSGA to perform a review on the valuation performed by Royson for its opinion. The Audit Firm, among other things: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Obtained and read Bitdeer&#8217;s unaudited management accounts for the past year from the Appraisal Date; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Discussed with the Management, Royson and Frost &amp; Sullivan, a consultancy firm engaged by Bitdeer, to understand the business operations, the industry in which Bitdeer is operating and the significant matters that would affect the equity value of Bitdeer; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Conducted research on public companies and transactions in the market to obtain relevant market information and comparable companies and valuation multiples; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Estimated cash flows, discount rate and valuation adjustments of Bitdeer. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The review focused on the basis and reasonableness of the valuation, valuation methodology, assumptions and valuation parameters adopted by Royson. The Audit Firm determined the adoption of the comparable companies selection was reasonable and aligned with generally accepted valuation practice. The Audit Firm also considered the calculation and market data used to determine the market multiples to be reasonable. The Audit Firm concluded that the valuation methodology, comparable company selection, adopted key parameters and calculations were generally accepted valuation procedures and concluded that the business valuation performed by Royson to be reasonable. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Conclusions</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The preparation of Royson&#8217;s opinion was a complex, analytical process involving various determinations as to the most appropriate and relevant methods of analysis and the application of those methods to the particular circumstances and is not necessarily susceptible to partial analysis or summary description. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Royson&#8217;s Original Valuation Report, based upon the investigation, analysis and assumptions described herein and the appraisal method employed, is that the fair market value of the 100% equity interest in Bitdeer as of September&#160;30, 2021 is reasonably stated to be four billion five hundred and thirty-nine million dollars (US$4,539,000,000). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Updated Valuation Report of BSGA&#8217;s Valuation Advisor</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On December&#160;14, 2021, Royson rendered its updated opinion to BSGA on the fair market value of a 100% equity interest of Bitdeer as of December&#160;13, 2021 (&#8220;Second Appraisal Date&#8221;) based upon and subject to the factors and assumptions set forth therein. The full text of the written opinion of Royson, dated </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">129</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">December&#160;14, 2021 (the &#8220;Updated Valuation Report&#8221;), which set forth assumptions made, procedures followed, matters considered and qualifications and limitations on the review undertaken in connection with the opinion, is attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex&#160;D-2</font><font style="letter-spacing:0.2pt;">. The Updated Valuation Report took into consideration changes including but not limited to certain financial, operational and projection information of Bitdeer, the market capitalization and certain ratios of the Comparable Companies set forth below to the Second Appraisal Date. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Based on the available market figures sourced from Bloomberg as of the Second Appraisal Date, Royson came up with the following updated ratios of the Comparable Companies: </font>
        </div>
        <table style="width:456pt;height:62.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:235.31pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Average </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Median </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">First </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Third </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Low </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">High </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:235.31pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted Revenue for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.97</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">8.37</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">7.01</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">14.26</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">5.64</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">20.15</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:235.31pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted EBITDA for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">14.78</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">14.38</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.18</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">19.73</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">5.97</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">25.07</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:235.31pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Hash rate as at the Appraisal Date </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">799</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">831</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">596</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,001</td>
            <td style="padding:0pt;padding-left:2.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">361</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,171</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:7.7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indicated EV of Bitdeer is the weighted average of the product of the selected ratios of the Comparable Companies generated and its relevant financial and operational information while equal weighting is assigned in this valuation. To derive the fair market value of the entire equity interest, the net debts and non-operating assets and liabilities are first deducted from the indicated EV and finally, the result is subject to a discount for lack of marketability adjustment in order to derive the fair market value of the non-controlling, non-marketable equity interest in Bitdeer. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Royson&#8217;s updated opinion, based upon its investigation, analysis and assumptions described therein and the appraisal method employed, is that the fair market value of the 100% equity interest in Bitdeer as of the Second Appraisal Date is reasonably stated to be four billion six hundred and thirteen million (US$4,613,000,000).</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Certain Projected Information of Bitdeer</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer does not, as a matter of general practice, publicly disclose forecasts or internal projections of its future performance, revenue, financial condition or other results. In connection with its consideration of the potential Business Combination, Bitdeer provided BSGA with its internally-prepared operational and financial projections for each of the years in the two-year period ending December 31, 2022. The projections were prepared solely for internal use and not with a view toward public disclosure or the published guidelines of the American Institute of Certified Public Accountants regarding the preparation and presentation of prospective financial projections. BSGA did not prescribe or relay any instructions, guidelines, parameters, inputs, assumptions or other directions to Bitdeer&#8217;s management with respect to the projections included in this proxy statement/prospectus. These projections should not be viewed as public guidance.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The projections included in this proxy statement/prospectus are not fact and should not be relied upon as being necessarily indicative of future results, and readers of this proxy statement/prospectus, including investors or holders, are cautioned not to place undue reliance on this information, including in making a decision regarding the Business Combination. The projections and the assumptions underlying them reflect the opinion of Bitdeer&#8217;s management, based on Bitdeer&#8217;s business plans at the time the projections were prepared, which was in December 2021, taking into account the risks and uncertainties of Bitdeer&#8217;s business, but there can be no assurance that these projections will be realized or that actual results will not be significantly higher or lower than projected. The projections and underlying assumptions do not take into account any circumstances or events occurring after the date they were prepared, but Bitdeer&#8217;s management believes they continue to have a reasonable basis as of the date of this proxy statement/prospectus.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">While presented with numerical specificity, the projections reflect numerous estimates and assumptions with respect to, among other things, bitcoin prices, bitcoin network hash rate, general business, economic, regulatory, market and financial conditions and other future events, as well as matters specific to Bitdeer&#8217;s business, all of which are difficult to predict and many of which are beyond the control of Bitdeer and BSGA. Bitdeer believes the assumptions used to derive its projections were at the time made and are as of the date of this proxy statement/prospectus both reasonable and supportable, but subject to significant uncertainties as described below and elsewhere in this proxy statement/prospectus. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">130</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">

          <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer has not made any representations or warranties regarding the accuracy, reliability, appropriateness or completeness of the projections to anyone, including BSGA. The inclusion of projections in this proxy statement/prospectus should not be regarded as an indication that BSGA, BSGA Board, or their respective affiliates, advisors or other representatives considered, or now consider, such projections necessarily to be predictive of actual future results. The projections are not fact and should not be relied upon as being necessarily indicative of future results, and readers of this proxy statement/prospectus, including investors or holders, are cautioned not to place undue reliance on this information in making a decision regarding the Business Combination, as the projections may be materially different than actual results. BTG will not refer back to the projections in its future periodic reports filed under the Exchange Act.</font>
          </div>

        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">None of BSGA, Bitdeer or any other person assumes responsibility if future results are materially different from those discussed. Any estimates contained in the following analysis are not necessarily indicative of actual values or predictive of future results or values, which may be significantly more or less favorable than as set forth below. Accordingly, the assumptions and estimates used in, and the results derived from, the below analysis are inherently subject to substantial uncertainty. The following quantitative information, to the extent that it is based on market data, is not necessarily indicative of current market conditions.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The projections are forward-looking statements that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Bitdeer and BSGA. The various risks and uncertainties include those set forth in the &#8220;Risk Factors,&#8221; &#8220;Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and &#8220;Forward-Looking Statements&#8221; sections of this proxy statement/prospectus, respectively. Since the projections cover multiple years, such information by its nature becomes less reliable with each successive year. These projections are subjective in many respects and thus are susceptible to multiple interpretations and periodic revisions based on actual experience and business developments.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The financial projections included in this proxy statement/prospectus have been prepared by, and are the responsibility of, Bitdeer&#8217;s management. Neither MaloneBailey, LLP nor Marcum LLP or any other independent accountant has audited, reviewed, examined, compiled nor applied agreed-upon procedures with respect to the financial projections contained herein and accordingly, neither MaloneBailey, LLP nor Marcum LLP or any other independent accountant expresses any opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any association with, the financial projections. The Marcum LLP report included in this proxy statement/prospectus relates to BSGA&#8217;s historical financial statements. MaloneBailey, LLP reports included in this proxy statement/prospectus relate to Bitdeer&#8217;s historical financial statements. Such reports do not extend to the financial projections and should not be read to do so.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Operational Projections and Assumptions</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:61.0000000000001pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:386.29pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Year Ended</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:386.29pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:386.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Capacity (MW) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">402</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">974</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:386.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Managing hash rate (EH/s)</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">8.6</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">20.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.1pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Financial Projections and Assumptions</font><font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:-0.15pt;">(2)</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:468pt;height:61pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:364pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Year Ended</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:364pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">(in millions) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:364pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Revenues </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">380</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">586</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:364pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Adjusted EBITDA</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">276</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">337</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.6pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:12.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:12.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The basis for the increase in hash rate from 8.6EH/s for the year ended December&#160;31, 2021 to 20.0EH/s for the year ended December&#160;31, 2022 is outlined in the table below. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">131</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:143.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:411.26pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Hash rate </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total proprietary hash rate&#8201;&#8211;&#8201;September&#160;30, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">4.4</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">2021 additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">(0.1<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">2022 additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">8.8</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total projected proprietary hash rate&#8201;&#8211;&#8201;December&#160;31, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">13.1</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total hosting hash rate&#8201;&#8211;&#8201;September&#160;30, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.6</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">2021 additions: </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.7</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">2022 additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.6</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total projected hosting hash rate&#8201;&#8211;&#8201;December&#160;31, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">6.9</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Total projected managing hash rate&#8201;&#8211;&#8201;December&#160;31, 2022</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">20.0</td>
            <td style="padding:0pt;padding-left:7.515pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer supplements its IFRS results by evaluating adjusted EBITDA, a non-IFRS measure. Adjusted EBITDA is a non-IFRS financial measure defined as profit/(loss), adjusted to exclude (i)&#160;depreciation and amortization, (ii)&#160;income tax expense/(benefit), (iii)&#160;interest expense/ (income), net and (iv)&#160;share-based payment expenses under IFRS 2. A reconciliation of profit/(loss), the most comparable IFRS measure, to adjusted EBITDA is set forth in the section entitled &#8220;Bitdeer&#8217;s Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8201;&#8212;&#8201;Non-IFRS Financial Measure&#8221; of this proxy statement/prospectus. Bitdeer&#8217;s use of adjusted EBITDA in the projections reflects the fact that management does not have a reasonable basis for projecting certain recurring and non-recurring expenses that would be necessary to present IFRS-based profit/(loss), including impairments of cryptocurrencies, and other non-recurring fair value re-measurements based on uncertainties related to both timing and magnitude. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The projection is primarily driven by the following key operating assumptions including (1)&#160;Bitdeer&#8217;s expansion of hash rate, which is associated with the construction schedule of Bitdeer&#8217;s global mining datacenters and mining machine efficiency, (2)&#160;Bitdeer management&#8217;s projected total network hash rate until the end of 2022 and (3)&#160;Bitdeer management&#8217;s projected Bitcoin price until end of 2022. The below assumptions were made as of December 13, 2021. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">(1) Hash rate, mining machine efficiency and number of mining machines</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following table illustrates Bitdeer&#8217;s assumptions on the number of mining machines, mining machine efficiency in terms of TH/s per deployed mining machine, its total proprietary hash rate as well as its total managing hash rate. Bitdeer has also included its electricity capacities to illustrate the relationship between the scale of its hash rate relative to its scheduled expansion of electricity capacity through construction of mining datacenters as stated in this proxy statement/prospectus. </font>
        </div>
        <table style="width:456pt;height:196pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:285.42pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="22">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">As of December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Actual) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Actual) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Forecast) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2022</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Forecast) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Proprietary hash rate</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Number of proprietary mining machines deployed </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">26,066</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">44,983</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">47,943</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">117,935</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Hash rate per proprietary mining machine (TH/s) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">72.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">88.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">89.4</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">111.1</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:-0.2pt;">Total proprietary hash rate (EH/s)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">4.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">4.3</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">13.1</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Hosting hash rate</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Number of hosting mining machines deployed </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">990</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">44,601</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">70,779</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Hash rate per hosting mining machine (TH/s) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">99.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">97.3</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">97.8</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:-0.2pt;">Total hosting hash rate (EH/s)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">4.3</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">6.9</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Total managing hash rate (proprietary and hosting) (EH/s)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">4.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">8.6</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">20.0</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Electricity capacity</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:285.42pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Total electricity capacity available (MW) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">111</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">209</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">402</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">974</td>
            <td style="padding:0pt;padding-left:0.434999999999999pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">132</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer&#8217;s total proprietary hash rate is a function of (i)&#160;hash rate per proprietary mining machine deployed and (ii)&#160;the number of proprietary mining machines deployed. The former is expected to continuously improve as newer models of mining machines with higher computing power capabilities are released to the market which Bitdeer will purchase to fill its mining data centers or replace its old mining machines with lower hash rate or less efficient in electricity consumptions. The latter is primarily driven by (i)&#160;available capacity of datacenter in terms of electricity, (ii)&#160;Bitdeer&#8217;s cashflow status which is well supported by its unique business model allocating a significant amount of proprietary hash rate to hash rate sales through</font><font style="font-style:italic;letter-spacing:0.2pt;"> Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> and (iii)&#160;price of mining machines, which is highly correlated to the Bitcoin price. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The hosting hash rate is primarily driven by hash rate per deployed hosting mining machine and the number of hosting mining machines. The hash rate per deployed hosting mining machine is determined by the type of mining machine Bitdeer&#8217;s hosting client holds. Bitdeer assumed it would increase slightly from 97.3&#160;TH/s as of December 31, 2021 to 97.8 TH/s as of December 31, 2022 since Bitdeer&#8217;s new customers tend to have more updated mining machines. The number of hosting mining machines is determined by capacity of Bitdeer&#8217;s mining datacenters and is a result of its allocation of electricity capacity to hosting services. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">With respect to electricity capacity, Bitdeer is expected to have access to a total electricity capacity of 402MW by December 31, 2021, 974MW by December 31, 2022, as it is expected to operate more mining data centers to support its hash rate growth, as well as 1,736MW thereafter. Bitdeer had agreements in place by September 30, 2021 to increase its total electricity capacity to 974 MW by December&#160;31, 2022. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(2) Projected total network hash rate</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The total network hash rate historically tends to vary subject to many factors including Bitcoin price, the size of the mining community, supply and demand of mining machines, efficiency of mining machines, etc. but it has shown a growing trend over the past&#160;years. According to Frost &amp; Sullivan, as of the end of 2019, 2020 and November&#160;2021, total network hash rate of Bitcoin were at 96.4EH/s, 146.8EH/s and 162.6EH/s, respectively. The management believed the total network hash rate would likely increase in the short term, hence assumed the total network hash rate as of end of December&#160;2021 and January&#160;2022 to be 180.0EH/s and 220.0EH/s, respectively. However, similar to the Bitcoin price, it remained practically challenging for the management to accurately estimate future total network hash rate with sufficient basis in the long run. Hence it had assumed a flat 220.0EH/s total network hash rate from January&#160;2022 till the end of December&#160;2022. This approach would reduce the amount of assumptions based solely on subjective discretion and is believed to enhance overall credibility of the forecast. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The below table shows the total network hash rate assumptions used in the projection. </font>
        </div>
        <table style="width:456pt;height:64pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:121.49pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Year ended</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Year ended </font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31,</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Nov</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Dec</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jan</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Feb</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Mar</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Apr</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:121.49pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.167pt 0pt; width:121.49pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total network hash rate </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">96.4</td>
            <td style="padding:0pt;padding-left:13.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">146.8</td>
            <td style="padding:0pt;padding-left:11.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.35pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">162.6</td>
            <td style="padding:0pt;padding-left:2.35pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">180.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:55pt;margin-top:13pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:123.34pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">May</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jun</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jul</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Aug</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Sep</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Oct</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Nov</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Dec</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:123.34pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">EH/s </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.167pt 0pt; width:123.34pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total network hash rate </font>
              </div>
            </td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">220.0</td>
            <td style="padding:0pt;padding-left:5.435pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(3) Projected Bitcoin price</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer has assumed the average Bitcoin price in December&#160;2021 to be US$48,000. This is a conservative assumption primarily based on the average Bitcoin price from December&#160;1 to December&#160;12, 2021, which was US$51,578, according to Frost &amp; Sullivan. Bitdeer has assumed a flat average monthly Bitcoin price of US$60,000 from January to December&#160;2022. This assumption was the management&#8217;s estimate based on historical performance of Bitcoin price as the average Bitcoin price rallied from US$35,900 in June&#160;2021 to US$60,853 at one point in November&#160;2021. Due to the practical challenges in having a systematic methodology </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">133</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">to forecast future Bitcoin price and there is no visibility to Bitcoin price performance in 2022, Bitdeer&#8217;s management believed it is relatively more prudent to assume a flat Bitcoin price throughout 2022 based on the Bitcoin price observed in the second half of 2021. This approach would reduce the amount of assumptions based solely on subjective discretion and is believed to enhance overall credibility of the forecast. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The below table shows the monthly Bitcoin price assumptions used in the projection. </font>
        </div>
        <table style="width:456pt;height:55pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:172.17pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jun</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jul</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Aug</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Sep</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Oct</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Nov</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Dec</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:172.17pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Actual)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.167pt 0pt; width:172.17pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Monthly Bitcoin Price </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">35,900</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">34,226</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">45,537</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">46,046</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">57,353</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,853</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">48,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:55pt;margin-top:13pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:171.92pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jan</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Feb</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Mar</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Apr</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">May</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jun</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Jul</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:171.92pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.167pt 0pt; width:171.92pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Monthly Bitcoin Price </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:55pt;margin-top:13pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:228.09pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Aug</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Sep</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Oct</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Nov</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Dec</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:228.09pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">(Forecast)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.167pt 0pt; width:228.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Monthly Bitcoin Price </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.167pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">60,000</td>
            <td style="padding:0pt;padding-left:2.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:8.3pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The operational and financial projections and assumptions are forward looking and reflect numerous estimates and assumptions, including, but not limited to, general business, economic, regulatory, market and financial conditions, as well as assumptions about competition, future industry performance and matters specific to Bitdeer&#8217;s business, all of which are difficult to predict and many of which are beyond Bitdeer&#8217;s and BSGA&#8217;s control. In developing the projected operational and financial information, numerous significant assumptions were made with respect to Bitdeer&#8217;s business for the periods covered by the projections. Some of the significant assumptions on which Bitdeer&#8217;s management based its forecasts include among other things, Bitdeer&#8217;s assumptions regarding (i)&#160;the price of Bitcoin and other major cryptocurrencies, (ii)&#160;the growth of the business, estimated based on future mining and hosting operations, (iii)&#160;the availability of mining machines on acceptable terms or at all, (iv)&#160;estimates regarding power capacity and pricing, (v)&#160;assumptions regarding the performance and reliability of mining machines, (vi)&#160;the successful construction and development of electric power facilities with assumed specifications and performance, (v)&#160;regulatory developments in the United States and abroad, (vii)&#160;estimated expenses, and (viii)&#160;key assumptions regarding the fundamental underlying economics for mining bitcoin and other cryptocurrencies, including improved hash rate and moderate to declining difficulty of mining. The primary limitations in the foregoing assumptions include, without limitation, unpredictability of tariffs and other economic measures that may impact the availability of mining machines, as well as other factors that impact the price of bitcoin and other cryptocurrencies. Management&#8217;s assumptions relating to revenue drivers incorporate historical operating trends for the business. </font>
        </div>

          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
            <font style="text-transform:uppercase;letter-spacing:0.2pt;">The projections are not included in this proxy statement/prospectus in order to induce any BSGA Shareholders to vote in favor of or against the Business Combination.</font><font style="letter-spacing:0.2pt;"> </font>
          </div>

        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">EXCEPT TO THE EXTENT REQUIRED BY APPLICABLE FEDERAL SECURITIES LAWS, BY INCLUDING IN THIS PROXY STATEMENT/PROSPECTUS A SUMMARY OF THE PROJECTIONS FOR BITDEER, BSGA UNDERTAKES NO OBLIGATIONS AND EXPRESSLY DISCLAIMS ANY RESPONSIBILITY TO UPDATE OR REVISE, OR PUBLICLY DISCLOSE ANY UPDATE OR REVISION TO, THESE PROJECTIONS TO REFLECT CIRCUMSTANCES OR EVENTS, INCLUDING UNANTICIPATED EVENTS, THAT MAY HAVE OCCURRED OR THAT MAY OCCUR AFTER THE PREPARATION OF THESE PROJECTIONS, EVEN IN THE EVENT THAT ANY OR ALL OF THE ASSUMPTIONS UNDERLYING THE PROJECTIONS ARE SHOWN TO BE IN ERROR OR CHANGE.</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">134</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Reasons for BSGA Board&#8217;s Approval of the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA was formed to complete a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more business entities. As described above, the BSGA Board sought to do so by using the networks and industry experience of both the Sponsor, the BSGA Board, and BSGA management to identify and acquire one or more businesses. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In evaluating the transaction with Bitdeer, the BSGA Board consulted with its legal counsel and accounting and other advisors. In determining that the terms and conditions of the Merger Agreement and the transactions contemplated thereby are in BSGA&#8217;s best interests, the BSGA Board considered and evaluated a number of factors, including, but not limited to, the factors discussed below. In light of the number and wide variety of factors considered in connection with its evaluation of the Merger Agreement Agreement and the transactions contemplated thereby, the BSGA Board did not consider it practicable to, and did not attempt to, quantify or otherwise assign relative weights to the specific factors that the BSGA Board considered in reaching its determination and supporting its decision. The BSGA Board viewed its decision as being based on all of the information available and the factors presented to and considered by the BSGA Board. In addition, individual directors may have given different weight to different factors. The BSGA Board realized that there can be no assurance about future results, including results considered or expected as disclosed in the following reasons. This explanation of BSGA&#8217;s reasons for the Business Combination and all other information presented in this section is forward-looking in nature and, therefore, should be read in light of the factors discussed under &#8220;Forward-Looking Statements.&#8221; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The members of the BSGA Board are well qualified to evaluate the Business Combination with Bitdeer. The BSGA Board and management collectively have extensive transactional experience. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In particular, the BSGA Board considered the following reasons or made the following determinations, as applicable: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Bitdeer satisfies a number of acquisition criteria that BSGA had established to evaluate prospective business combination targets.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The BSGA Board considered the business, history, prospects, credibility, and valuation of Bitdeer and its affiliates, and determined that Bitdeer satisfies a number of criteria and guidelines set forth during the IPO, including (i)&#160;unique competitive advantage in the markets and/or underexploited growth opportunities that BSGA is uniquely positioned to identify; (ii)&#160;strong management team that can create significant value; and (iii)&#160;potential to generate strong free cash flow. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Favorable prospects for future growth and financial performance</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Current information and forecast projections from BSGA and Bitdeer&#8217;s management regarding (i)&#160;Bitdeer&#8217;s business, prospects, financial condition, operations, technology, services, management, competitive position, and strategic business goals and objectives; (ii)&#160;general economic, industry, regulatory, and financial market conditions; and (iii)&#160;opportunities and competitive factors within Bitdeer&#8217;s industry. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">World&#8217;s largest scale of proprietary hash rate.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer was the world&#8217;s largest holder of proprietary hash rate for Bitcoin as at June&#160;30, 2021, according to Frost &amp; Sullivan. Its proprietary hash rate provides it with a clear edge in all of its business lines and anchors its unique business model. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Unique business model powers organic hash rate expansion.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer established a business model that allows it to reinforce its market-leading position and compete in terms of scaling up our proprietary hash rate. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Ample power supply and low electricity cost secured by global mining datacenters.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer strategically opened five mining datacenters in the United States and Norway, where low electricity cost and crypto-friendly policies support stable operations. With experience in site selection, facility design, construction and maintenance in over 30 locations around the globe, Bitdeer&#8217;s dedicated global team for mining datacenter construction understands the critical needs of Bitcoin mining as well as the complex and constantly evolving global landscape of electricity supply. They also have extensive connections with local electricity experts and power enterprises around the world. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Visionary management team with a proven track record of innovation and execution.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Bitdeer is led by a management team with extensive experience in the cryptocurrency industry, encompassing research </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">135</font>
          <br >
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">and development, mining and sales of mining machines, and many of them are pioneers in mining datacenters construction and operation. </font>
        </div>
        <div style="margin-left:30pt; margin-top:8pt; text-align:justify; width:426pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In particular, the BSGA Board considered Mr.&#160;Wu&#8217;s holdings of BTG securities following the Business Combination, and his ability to sell substantially all such holdings yet still retain control over the company due to his BTG Class&#160;V Ordinary Share holdings. These aspects did not change BSGA Board&#8217;s determination because (i)&#160;the BSGA Board took notice that similar dual-class shareholding structure had been adopted by other public companies for the benefit of their founders; (ii)&#160;Mr.&#160;Wu will be subject to lock-up; (iii)&#160;upon Closing, Mr.&#160;Wu will still be subject to his fiduciary duties under the laws of the Cayman Islands and the Amended BTG Articles (which form is included as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;"> to this proxy statement/prospectus) in exercising his decision-making powers as an executive of BTG; and (iv)&#160;the BSGA Board reviewed Mr.&#160;Wu&#8217;s professional and industry experience, as well as his long tenure with Bitdeer. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Best Available Opportunity.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The BSGA Board determined, after a thorough review of other business combination opportunities reasonably available to BSGA, that the proposed Business Combination represents the best potential business combination for BSGA based upon the process utilized to evaluate and assess other potential acquisition targets, and the BSGA Board&#8217;s belief that such processes had not presented a better alternative. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Continued Significant Ownership by Bitdeer</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The BSGA Board considered that Bitdeer&#8217;s existing equity holders would be receiving a significant amount of BTG&#8217;s ADSs in the proposed Business Combination and that Bitdeer&#8217;s principal shareholders and key executives are &#8220;rolling over&#8221; their existing equity interests of Bitdeer into equity interests in BTG. The current Bitdeer Shareholders are expected to own approximately 96.3% of the outstanding BTG Class&#160;A Ordinary Shares (including in the form of ADSs), constituting approximately 11.0% of the voting power of the BTG Ordinary Shares (including in the form of ADSs) voting together as a single class, assuming&#160;none of BSGA&#8217;s public shareholders exercise their redemption rights in connection with the Business Combination. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Use of Retained Proceeds</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;As represented by Bitdeer&#8217;s management, the proceeds to be delivered to BTG in connection with the Business Combination (including funds that remain in BSGA&#8217;s trust account after taking into effect redemptions), are expected to remain on the balance sheet of BTG after Closing in order to fund Bitdeer&#8217;s existing operations and support new and existing growth initiatives. The BSGA Board considered this benefits to be realized as a result of the Business Combination. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Likelihood of Closing the Business Combination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The BSGA Board believes that an acquisition by BSGA has a reasonable likelihood of closing without potential issues under applicable antitrust and competition laws and without potential issues from any regulatory authorities. </font>
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          <font style="letter-spacing:0.2pt;">The BSGA Board also considered a variety of uncertainties and risks and other potentially negative factors concerning the Business Combination, including but not limited to the following: </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Business risk.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The risk that the future financial performance of Bitdeer may not meet the BSGA Board&#8217;s expectations due to factors in Bitdeer&#8217;s control or out of Bitdeer&#8217;s control, such as Bitdeer&#8217;s failure to continuously innovate, to attract and retain customers, to adapt to new businesses, to obtain sufficient capital, to maintain its competitive edge in the crypto mining business, among others. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Industry risk.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The risk that the cryptocurrency industry in which Bitdeer operates is significantly impacted by the sharp fluctuations in Bitcoin prices and or significant adverse regulatory developments. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Closing of the Business Combination May Not Occur</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The risks and costs to BSGA if the Business Combination is not completed, including the risk of diverting management focus and resources to other business combination opportunities, which could result in BSGA being unable to effect a business combination within the timeframe set forth under BSGA&#8217;s current charter, forcing BSGA to liquidate the trust account. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Current Public Shareholders Exercising Redemption Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The risk that some of BSGA&#8217;s current public shareholders would decide to exercise their redemption rights, thereby depleting the amount of cash available in the trust account. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Closing Conditions of the Business Combination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The fact that the Closing is conditioned on satisfying certain closing conditions, many of which are not within BSGA&#8217;s control. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">BSGA Shareholders Not Holding a Majority Position in BTG</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The fact that BSGA Shareholders will not hold a majority position in BTG following the Business Combination, which may reduce the influence that BSGA&#8217;s current shareholders have on BTG&#8217;s management. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Post-Closing Corporate Governance</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The fact that post-Closing, Mr. Jihan Wu will control the voting power of all outstanding BTG Class&#160;V Ordinary Shares and the voting power of approximately 88.6% of total issued and outstanding BTG Ordinary Shares voting together as a single class assuming a No Redemption Scenario and that, all of Bitdeer&#8217;s outstanding restricted share&#160;units vest and all remaining Bitdeer Ordinary Shares available for grant under the BTG Incentive Plan, which will have one vote per share when granted, are granted to employees other than Mr. Jihan Wu. Given Mr. Jihan Wu&#8217;s voting power over the BTG Ordinary Shares as described in this paragraph, he will effectively be able to nominate, appoint and remove the entirety of BTG&#8217;s board of directors. Mr. Jihan Wu will therefore have decisive influence over matters requiring shareholder approval by ordinary resolution and significant influence over matters requiring shareholder approval by special resolution, including significant corporate transactions, such as a merger or sale of BTG or its assets. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Litigation Related to the Business Combination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The risk of potential litigation challenging the Business Combination. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">No Survival of Remedies for Breach of Representations, Warranties or Covenants of Bitdeer</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Merger Agreement provides that BSGA will not have any surviving remedies against Bitdeer or its equity holders after the Closing to recover for losses as a result of any inaccuracies or breaches of the representations, warranties or covenants of Bitdeer set forth in the Merger Agreement. As a result, BSGA Shareholders could be adversely affected by, among other things, a decrease in the financial performance or worsening of financial condition of Bitdeer prior to the Closing, whether determined before or after the Closing, without any ability to recover for the amount of any damages. The BSGA Board determined that this structure was appropriate and customary in light of the fact that several similar transactions include similar terms and the current equity holders of Bitdeer will be, collectively, the majority equity holders in BTG and therefore would bear a majority of any such losses. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Transaction Fees and Expenses Incurred by BSGA</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The substantial transaction fees and expenses to be incurred in connection with the Business Combination and the negative impact of such expenses on BSGA&#8217;s cash reserves and operating results if the Business Combination is not completed. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Negative Impact Resulting from the Announcement of the Business Combination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The possible negative effect of the Business Combination and public announcement of the Business Combination of BSGA&#8217;s financial performance, operating results, and share price. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Other Risks</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Other factors that the BSGA Board deemed relevant, including various other risks associated with the Business Combination, BSGA&#8217;s business, and Bitdeer&#8217;s business as described under &#8220;Risk Factors.&#8221; </font>
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          <font style="letter-spacing:-0.2pt;">Satisfaction of 80% Test</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">After consideration of the factors identified and discussed in the section entitled &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Reasons for BSGA Board&#8217;s Approval of the Business Combination,&#8221; the BSGA Board concluded that the Business Combination met the requirements disclosed in the IPO prospectus with respect to BSGA&#8217;s initial business combination, including that the Business Combination had a fair market value of at least 80% of the balance of the funds in the Trust Account at the time of execution of the Merger Agreement.</font>
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          <font style="letter-spacing:-0.2pt;">Interests of BSGA Directors and Officers in the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The BSGA Board concluded that the potential benefits that the BSGA Board expected BSGA and its shareholders to achieve as a result of the Business Combination outweighed the potentially negative factors associated with the Business Combination. Accordingly, the BSGA Board determined that the Merger Agreement, the Business Combination, and the other transactions contemplated by the Merger Agreement, were in BSGA&#8217;s best interests. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">When you consider the recommendation of the Board in favor of approval of the Business Combination, you should keep in mind that BSGA&#8217;s directors and officers have interests in the Business Combination that are different from, or in addition to, your interests as a shareholder, including: </font>
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          <font style="letter-spacing:0.2pt;">If we are unable to consummate an initial business combination by June&#160;14, 2022 (subject extensions of up to 6&#160;months), we will, as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including any interest earned on the funds held in the trust account (net of interest that may be used by us to pay our taxes payable and for dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders&#8217; rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law and as further described herein, and then seek to dissolve and liquidate. There will be no redemption rights or liquidating distributions with respect to our private placement rights, which will expire worthless if we fail to complete our initial business combination by June&#160;14, 2022 (subject to an extension of up to 6&#160;months) or a later date approved by our shareholders.</font>
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          <font style="letter-spacing:0.2pt;">Prior to the IPO, our Sponsor held 1,437,500 Founder Shares. The Founder Shares will automatically convert into ADSs representing an aggregate of 1,437,500 BTG Class A Ordinary Shares at the time of the Business Combination.</font>
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          <font style="letter-spacing:0.2pt;">Simultaneously with the closing of the IPO, we consummated the sale of 292,500 BSGA Units at a price of US$10.00 per unit for an aggregate purchase price of US$2,925,000. If we do not consummate the Business Combination by June&#160;14, 2022 (subject extensions of up to 6&#160;months) or a later date approved by our shareholders, then the proceeds from the sale of the private placement units will be part of the liquidating distribution to the public shareholders and the units held by our Sponsor will be worthless.</font>
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          <font style="letter-spacing:0.2pt;">Our Sponsor has made an investment for the Founder Shares at an average price per share of approximately US$0.017 prior to the consummation of the IPO. As a result of the significantly lower investment per share of the Sponsor as compared to the investment per share of our public shareholders (which was US$10.00 per unit), a transaction that results in an increase in the value of the investment of the Sponsor in the Founder Shares (such as the Business Combination) may result in a decrease in the value of the investment of our Public Shareholders between (i)&#160;the purchase price that the Sponsor paid for the Founder Shares and (ii)&#160;the price of the Public Shares, and considering the substantial number of BTG Class&#160;A Ordinary Shares that the Sponsor will receive upon conversion of the Founder Shares, the Sponsor can earn a positive return on their investment, even if other BSGA shareholders have a negative return on their investment in BTG. </font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Sponsor made an investment of US$2,950,000, consisting of the Sponsor&#8217;s US$25,000 initial investment and the Sponsor&#8217;s US$2,925,000 private placement units purchase price. Such investment represents an effective per share price of US$1.64. The Sponsor will lose such investment if we do not complete an initial business combination by June&#160;14, 2022 (subject to an extension of up to 6&#160;months) or a later date approved by our shareholders. </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">The exercise of BSGA&#8217;s directors&#8217; and officers&#8217; discretion in agreeing to changes or waivers in the terms of the transaction may result in a conflict of interest when determining whether such changes or waivers are appropriate and in our shareholders&#8217; best interest.</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The Sponsor and our officers and directors have agreed to waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if BSGA fails to complete an initial business combination by June&#160;14, 2022 (subject to an extension of up to 6&#160;months) or a later date approved by our shareholders. The Sponsor and our officers and directors have not received any consideration for such waiver.</font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">In order to protect the amounts held in the Trust Account, the Sponsor has agreed that it will be liable to us if and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target business with which we have entered into a transaction agreement, reduce the amount of funds in the Trust Account. This liability will not apply with respect to any claims by a third party who executed a waiver of any right, title, interest or claim of any kind in or to any monies held in the </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">138</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Trust Account or to any claims under our indemnity of the underwriters of the offering against certain liabilities, including liabilities under the Securities Act.</font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Following the Closing, the Sponsor would be entitled to the repayment of any working capital loan and advances that have been made to BSGA and remain outstanding. As of the date of this proxy statement/prospectus, our Sponsor has not made any working capital loan or advances to us for working capital expenses. If we do not complete the Business Combination within the required period, we may use a portion of our working capital held outside the Trust Account to repay the working capital loans, but no proceeds held in the Trust Account would be used to repay the working capital loans. As of December 31, 2021 and March 31, 2022, no such working capital loans were outstanding. </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.91pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">BSGA&#8217;s current charter contains a waiver of the corporate opportunity doctrine. With such waiver, there could be business combination targets that may be suitable or worth consideration for a combination with BSGA but not offered due to a BSGA director&#8217;s duties to another entity. BSGA does not believe that the potential conflict of interest relating to the waiver of the corporate opportunities doctrine in current charter impacted its search for an acquisition target and BSGA was not prevented from reviewing any opportunities as a result of such waiver. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The foregoing interests present a risk that the Sponsor, BSGA&#8217;s officers and directors, and their affiliates will benefit from the completion of a business combination, including in a manner that may not be aligned with the Public Shareholders. As such, the Sponsor and BSGA&#8217;s officers and directors may be incentivized to complete a business combination with a less favorable target company or on terms less favorable to Public Shareholders rather than to liquidate. See &#8220;Risk Factors&#8201;&#8212;&#8201;Risks Related to BSGA and the Business Combination&#8201;&#8212;&#8201;BSGA&#8217;s directors and officers may have certain conflicts in determining to recommend the acquisition of Bitdeer, since certain of their interests, and certain interests of their affiliates and associates, are different from, or in addition to, your interests as a shareholder.&#8221;</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Appraisal Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Appraisal rights are available to holders of BSGA Ordinary Shares in connection with the Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">Under section 179 of the BVI Business Companies Act, 2004 (as amended), holders of BSGA Ordinary Shares will have the right to dissent from the Business Combination. Should a holder of BSGA Ordinary Shares wish to exercise their appraisal right, they must give written notice of their objection to the Business Combination to BSGA prior to the Special Meeting, or at the meeting but before the vote on the Business Combination. Such notice must include a statement that the BSGA shareholder proposes to demand payment for their shares if the Business Combination is undertaken. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming that the Business Combination is approved, BSGA must give notice to any BSGA shareholder who gave written notice of their objection to the Business Combination within 20&#160;days of the date of the Special Meeting at which the Business Combination is approved. Within 20&#160;days following the date of receipt of that notice, the dissenting shareholder must give notice to BSGA of their election to dissent, which notice must include: (a)&#160;the shareholder&#8217;s name and address; (b)&#160;the number and class of shares in respect of which they dissent (which must be all of the shares that the shareholder holds in BSGA); and (c)&#160;a demand for payment of the fair value of the shares. Once such notice has been given to BSGA, the dissenting shareholder ceases to have any rights as a shareholder of BSGA except for the right to be paid the fair value of their shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Within seven days of the expiration of the 20-day period in which a BSGA shareholder may serve notice of dissent (or seven days following the First SPAC Merger, whichever is the later), BSGA shall make a written offer to each dissenting shareholder to purchase their shares at a specified price that BSGA determine to be their fair value. If, within 30&#160;days of the date on which that offer is made, BSGA and the dissenting shareholder agree upon the price to be paid for the shares, BSGA shall pay that amount to the shareholder upon the surrender of the certificates representing their shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If agreement on the price to be paid for the shares cannot be reached, within 20&#160;days of the expiration of the 30-day period referred to above the following procedure shall be followed: </font>
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          <font style="letter-spacing:0.2pt;">(a)</font>
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          <font style="letter-spacing:0.2pt;">BSGA and the dissenting shareholder shall each designate an appraiser; </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">139</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
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        <div style=" line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the two designated appraisers together shall designate an appraiser; </font>
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          <font style="letter-spacing:0.2pt;">(c)</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the three appraisers shall fix the fair value of the shares owned by the dissenting shareholder as of the close of business on the day prior to the date on which the Business Combination was approved, excluding any appreciation or depreciation directly or indirectly induced by the Business Combination or its proposal, and that value is binding on BSGA and the dissenting shareholder for all purposes; and </font>
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          <font style="letter-spacing:0.2pt;">(d)</font>
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          <font style="letter-spacing:0.2pt;">BSGA shall pay to the dissenting shareholder that amount in money, upon the surrender of the certificates representing their shares. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Total Ordinary Shares Outstanding Upon Consummation of the Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The total number of ordinary shares to be issued and outstanding immediately following completion of the Business Combination will be 393,688,211. We anticipate that the Bitdeer&#8217;s shareholders will hold 97.9% of our outstanding ordinary shares, and the current BSGA Shareholders will hold 2.1% of our outstanding ordinary shares, immediately following completion of the Business Combination. This&#160;percentage (i)&#160;assumes that no public shares are redeemed in connection with the Business Combination, (ii)&#160;does not take into account any Bitdeer&#8217;s equity incentive award that are assumed by BTG in connection with the Business Combination and will be outstanding immediately following the Business Combination, (iii)&#160;does not take into account any equity awards that may be issued under the proposed BTG Incentive Plan following the Business Combination, and (iv)&#160;does not take into account any Net Debt adjustments to the Merger Consideration. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Anticipated Accounting Treatment</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Business Combination will be accounted for as a &#8220;reverse recapitalization&#8221; in accordance with IFRS. Under this method of accounting, BSGA will be treated as the &#8220;acquired&#8221; company for financial reporting purposes. This determination is primarily based on the fact that subsequent to the Business Combination, the Bitdeer&#8217;s shareholders are expected to have a majority of the voting power of BTG, Bitdeer will comprise all of the ongoing operations of combined company, Bitdeer will comprise a majority of the governing body of combined company, and Bitdeer&#8217;s senior management will comprise all of the senior management of combined company. Since BSGA does not meet the definition of a business under IFRS, the transaction is outside the scope of IFRS 3, &#8220;Business Combinations&#8221;, and it is accounted for as an equity-settled, share-based payment transaction in accordance with IFRS 2,&#8220;Share-based Payments&#8221;. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of Bitdeer issuing shares for the net assets of BSGA, accompanied by a recapitalization. The net assets of BSGA will be stated at historical costs. Any difference in the fair value of the consideration deemed to have been issued by Bitdeer and the fair value of BSGA&#8217;s identifiable net assets represents a listing service received by Bitdeer and is recorded through profit and loss. No goodwill or other intangible assets will be recorded. Operations prior to the Business Combination will be those of Bitdeer. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Redemption Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the Existing BSGA Articles, holders of Public Shares may elect to have their shares redeemed for cash at the applicable redemption price per share equal to the quotient obtained by dividing (i)&#160;the aggregate amount on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest (net of taxes payable), by (ii)&#160;the total number of then-outstanding Public Shares. As of the date of this proxy statement/prospectus, this would have amounted to approximately US$10.10&#160;per&#160;share. </font>
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          <font style="letter-spacing:0.2pt;">You will be entitled to receive cash for any Public Shares to be redeemed only if you: </font>
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          <font style="letter-spacing:0.2pt;">(i)</font>
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          <font style="letter-spacing:0.2pt;">(a)&#160;hold Public Shares, or </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(b) hold Public Shares through Units and you elect to separate your BSGA Units into the underlying public shares prior to exercising your redemption rights with respect to the public shares; and </font>
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          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">prior to [&#8226;] p.m., Eastern Time, on [&#8226;], 2022, (a)&#160;submit a written request to Continental that BSGA </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">140</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:40pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">redeem your public shares for cash and (b)&#160;deliver your public shares to Continental, physically or electronically through DTC. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Holders of outstanding BSGA Units must separate the underlying BSGA Ordinary Shares prior to exercising Redemption Rights with respect to the Public Shares. If the BSGA Units are registered in a holder&#8217;s own name, the holder must deliver the certificate for its BSGA Units to Continental, with written instructions to separate the BSGA Units into their individual component parts. This must be completed far enough in advance to permit the mailing of the certificates back to the holder so that the holder may then exercise his, her or its redemption rights upon the separation of the public shares from the BSGA Units. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If a holder exercises its Redemption Rights, then such holder will be exchanging its Public Shares for cash and will no longer own shares of BSGA. Such a holder will be entitled to receive cash for its Public Shares only if it properly demands Redemption and delivers its shares (either physically or electronically) to Continental in accordance with the procedures described herein. Please see the section titled &#8220;</font><font style="font-style:italic;letter-spacing:0.2pt;">The Extraordinary General Meeting&#8201;&#8201;&#8212;&#8201;&#8201;Redemption Rights</font><font style="letter-spacing:0.2pt;">&#8221; for the procedures to be followed if you wish to redeem your public shares for cash. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Resolutions to be Voted Upon</font>
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          <font style="letter-spacing:0.2pt;">The text of the resolution to be voted upon is as follows: </font>
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          <font style="letter-spacing:0.2pt;">&#8220;RESOLVED, that:</font>
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          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the Mergers;</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the A&amp;R Merger Agreement (including schedules and exhibits thereto) and the Plan of Merger in respect of the First SPAC Merger as appended at </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex&#160;B-1</font><font style="letter-spacing:0.2pt;"> of the A&amp;R Merger Agreement and made in accordance with the provisions of section 170(5) of the BVI Business Companies Act, 2004 (as amended);</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the other transactions contemplated by the A&amp;R Merger Agreement (together with the Mergers, the &#8220;Business Combination&#8221;), be and each is hereby approved, ratified, confirmed and adopted (as applicable) in all respects.&#8221; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Along with the approval of the Initial Mergers Proposal, the Nasdaq Proposal, the Governing Documents Proposal, the Governing Documents Proposals A to D, the BTG Incentive Plan&#160;Proposal, and the Adjournment Proposal, approval of this Business Combination Proposal is a condition to the consummation of the Business Combination. If this Business Combination Proposal is not approved, the Business Combination will not take place. Approval of this Business Combination Proposal is also a condition to the other Proposals (except for the Adjournment Proposal) (&#8220;Condition Precedent Proposals&#8221;). If any of the Condition Precedent Proposals is not approved, this Business Combination Proposal will have no effect (even if approved by the requisite vote of our shareholders at the Extraordinary General Meeting of any adjournment or postponement thereof) and the Business Combination will not occur. An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This Business Combination Proposal (and consequently, the Merger Agreement and the transactions contemplated thereby, including the Business Combination) will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Business Combination Proposal. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Board Recommendation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT BSGA&#8217;S SHAREHOLDERS VOTE &#8220;FOR&#8221; THE BUSINESS COMBINATION PROPOSAL. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">141</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTIMP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-bottom:100pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE INITIAL MERGERS PROPOSAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Holders of BSGA Ordinary Shares are being asked to authorize the Initial Mergers. Under the laws of the British Virgin Islands, a statutory merger involving a BVI company (such as each of the Initial Mergers) requires approval by such company&#8217;s shareholders and filings of shareholders resolutions specifically approving the statutory merger upon shareholders&#8217; approval. In light of the foregoing requirements and for good governance practice, BSGA is seeking separate approval of the Initial Mergers by its shareholders in addition to the approval of the Merger Agreement and transactions contemplated thereby as set forth under &#8220;The Business Combination Proposal&#8221; of this proxy statement/prospectus. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Resolutions to be Voted Upon</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The full text of the resolutions to be proposed is as follows: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;RESOLVED, that:</font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the Initial Mergers;</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">the A&amp;R Merger Agreement (including schedules and exhibits thereto), the articles of merger for the First SPAC Merger (the &#8220;First Articles of Merger&#8221;), the articles of merger for the Second SPAC Merger (the &#8220;Second Articles of Merger&#8221;), the plan of merger for the First SPAC Merger in the form annexed as Exhibit B-1 to the A&amp;R Merger Agreement (the &#8220;First Plan of Merger&#8221;) and the plan of merger for the Second SPAC Merger in the form annexed as Exhibit B-2 to the A&amp;R Merger Agreement (the &#8220;Second Plan of Merger&#8221;, together with the A&amp;R Merger Agreement, the First Articles of Merger, the Second Articles of Merger and the First Plan of Merger, the &#8220;Documents&#8221;); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:40pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">be and each is hereby approved, ratified, confirmed and adopted (as applicable) in all respects; and </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">RESOLVED, that upon the Effective Time (as defined in the First Articles of Merger), the amended and restated memorandum and articles of association in the form attached to the First Plan of Merger is adopted as the new memorandum and articles of association of BSGA in replacement of the existing memorandum and articles of association of BSGA.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Initial Mergers Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Initial Mergers Proposal. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE INITIAL MERGERS PROPOSAL. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">142</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTNP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE NASDAQ PROPOSAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA is proposing the Nasdaq Proposal in order to comply with Nasdaq Listing Rules 5635(a) and (b). Under Nasdaq Listing Rule&#160;5635(a), shareholder approval is required prior to the issuance of securities in connection with the acquisition of another company if such securities are not issued in a public offering and (A)&#160;have, or will have upon issuance, voting power equal to or in excess of 20% of the voting power outstanding before the issuance of common stock (or securities convertible into or exercisable for common stock); or (B)&#160;the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities. Under Nasdaq Listing Rule&#160;5635(b), shareholder approval is required prior to the issuance of securities when the issuance or potential issuance will result in a change of control. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the Merger Agreement, based on Bitdeer&#8217;s and BSGA&#8217;s current capitalization, we anticipate that we will issue to the Bitdeer&#8217;s shareholders as consideration in the Business Combination, [&#8226;] ADSs representing the right to receive BTG Ordinary Shares. See the section entitled &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;The Merger Agreement&#8201;&#8212;&#8201;Merger Consideration.&#8221; Because the number of shares we anticipate issuing as consideration in the Business Combination (1)&#160;will constitute more than 20% of BSGA&#8217;s outstanding shares and more than 20% of outstanding voting power prior to such issuance and (2)&#160;will result in a change of control of BSGA, we are required to obtain shareholder approval of such issuance pursuant to Nasdaq Listing Rules 5635(a) and (b). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Effect of Proposal on Current Shareholders</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the Nasdaq Proposal is adopted, BSGA would issue ADSs representing more than 20% of the outstanding ordinary shares in connection with the Business Combination. The issuance of such securities would result in significant dilution to the BSGA Shareholders and would afford such shareholders a smaller&#160;percentage interest in the voting power, liquidation value and aggregate book value of BSGA. If the Nasdaq Proposal is adopted, assuming that ADSs representing the right to receive 385,546,461 ordinary shares are issued to the Sellers as consideration in the Business Combination, we anticipate that the Sellers will hold 97.9% of our outstanding ordinary shares, and the current BSGA Shareholders will hold 2.1% of our outstanding ordinary shares immediately following completion of the Business Combination. This&#160;percentage assumes that no ordinary shares are redeemed in connection with the Business Combination, does not take into account any warrants or options to purchase our ordinary shares that will be outstanding following the Business Combination, or any equity awards that may be issued under our proposed Management Incentive Plan following the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the Nasdaq Proposal is not approved and we consummate the Business Combination on its current terms, BSGA would be in violation of Nasdaq Listing Rule&#160;5635(a), which could result in the delisting of our securities from the Nasdaq Stock Market. If Nasdaq delists our securities from trading on its exchange, we could face significant material adverse consequences, including: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a limited availability of market quotations for our securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">reduced liquidity with respect to our securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a determination that our shares are a &#8220;penny stock,&#8221; which will require brokers trading in our securities to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our securities; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a limited amount of news and analyst coverage for the post-transaction company; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a decreased ability to issue additional securities or obtain additional financing in the future. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">It is a condition to the obligations of BSGA and Bitdeer to close the Business Combination that BTG&#8217;s ADSs remain listed on the Nasdaq Stock Market. As a result, if the Nasdaq Proposal is not adopted, the Business Combination may not be completed unless this condition is waived. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">143</font>
          <br >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:360pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Resolution to be Voted Upon</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The full text of the resolution to be passed is as follows: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;RESOLVED that the issuance of up to [&#8226;] ADSs representing the right to receive up to [&#8226;] ordinary shares in connection with the Business Combination be approved and adopted in all respects.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Vote Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This Nasdaq Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Nasdaq Proposal. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This proposal is conditioned on the approval of the Business Combination Proposal and each of the other Condition Precedent Proposals. If any of the other Condition Precedent Proposals is not approved, the Nasdaq Proposal will have no effect even if approved by BSGA Shareholders. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Board Recommendation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE NASDAQ PROPOSAL.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">144</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTGDP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE GOVERNING DOCUMENTS PROPOSAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the Business Combination is consummated, the Existing BSGA Articles will effectively be replaced by the Amended BTG Articles given holders of BSGA Class&#160;A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class&#160;A Ordinary Shares) hold BTG Class&#160;A Ordinary Shares subject to the Amended BTG Articles. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA Shareholders are asked to consider and vote upon and to approve four separate proposals (collectively, the &#8220;Governing Documents Proposal&#8221;) in connection with the replacement of the Existing BSGA Articles with the Amended BTG Articles. Each of the Business Combination Proposal, the Initial Mergers Proposal and the four separate proposals in the Governing Documents Proposal are cross-conditioned on the approval of each other. If any one of these proposals is not approved by BSGA Shareholders, the Business Combination shall not be consummated. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Amended BTG Articles differ materially from the Existing BSGA Articles. The following table sets forth a summary of the material changes proposed between the Existing BSGA Articles and the Amended BTG Articles that are included in the Governing Documents Proposal. This summary is qualified by reference to the complete text of the Amended BTG Articles, attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. BSGA Shareholders are encouraged to read the Amended BTG Articles in their entirety for a more complete description of their terms. Additionally, we encourage shareholders to carefully consult the information set out under the &#8220;Comparison of Corporate Governance and Shareholder Rights&#8221; section of this proxy statement/prospectus. </font>
        </div>
        <table style="width:468pt;margin-bottom:5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Exiting BSGA Articles </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amended BTG Articles </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Authorized Share Capital </font>
                <br >
                <font style="letter-spacing:-0.2pt;">(Governing Documents Proposal A)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">BSGA is authorized to issue a maximum of 111,000,000 shares with no par value divided into three classes of shares as follows: (a) 100,000,000 class A ordinary shares with no par value (the &#8220;Class A Ordinary Shares&#8221;); (b) 10,000,000 class B ordinary shares with no par value (the &#8220;Class B Ordinary Shares&#8221; and together with the Class A Ordinary Shares, the &#8220;Ordinary Shares&#8221;); and (c) 1,000,000 preferred shares (the &#8220;Preferred Shares&#8221;) with no par value.</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The authorized share capital of BTG is US$50,000 divided into 500,000,000,000 shares of a par value of US$0.0000001 each comprising: Class&#160;A Ordinary Shares of a par value of US$0.0000001 each, Class&#160;V Ordinary Shares of a par value of US$0.0000001 each, and undesignated shares of a par value of US$0.0000001 each. </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Voting Power </font>
                <br >
                <font style="letter-spacing:-0.2pt;">(Governing Documents Proposal B)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Each Ordinary Share in BSGA confers upon the holder the right to one vote at a meeting of the BSGA Shareholders or on any resolution of Resolution of Members (as defined in the Existing BSGA Articles).</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Holders of Class&#160;A Ordinary Shares and Class&#160;V Ordinary Shares shall at all times vote together as one class on all resolutions. Each Class&#160;A Ordinary Share shall entitle the holder thereof to one (1)&#160;vote on all matters subject to vote at general meetings or class meetings of BTG, and each Class&#160;V Ordinary Share shall entitle the holder thereof to ten (10) votes on all matters subject to vote at general meetings or class meetings of BTG. </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Number of Directors </font>
                <br >
                <font style="letter-spacing:-0.2pt;">(Governing Documents Proposal C)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">The minimum number of directors shall be one and there shall be no maximum number of directors.</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Unless otherwise determined by BTG in general meeting, the number of directors shall be no less than three (3) and no more than twelve (12). </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Other Provisions including Status as a Blank Check Company</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">145</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:468pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Exiting BSGA Articles </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amended BTG Articles </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">(Governing Documents Proposal D)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">The Existing BSGA Articles contain certain provisions related to BSGA&#8217;s status as a blank check company, including those related to the operation of the Trust Account, winding up of BSGA&#8217;s operations should BSGA not complete a business combination by a specified date, and other such blank check-specific provisions as are present in the Existing BSGA Articles.</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The Amended BTG Articles will not contain provisions related to BSGA&#8217;s status as a blank check company, as these will no longer be applicable to BTG upon consummation of the Business Combination.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:18.71pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Resolutions to be Voted Upon</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:7.11pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The full text of each of the resolutions to be proposed in respect of the four separate proposals within the Governing Documents Proposal is as follows: </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;RESOLVED to approve in all respect the effective change in authorized share capital from (i) the maximum of 111,000,000 shares that BSGA is authorized to issue, with no par value, divided into three classes of shares as follows: (a) 100,000,000 class A ordinary shares with no par value; (b) 10,000,000 class B ordinary shares with no par value; and (c) 1,000,000 preferred shares with no par value, to (ii) the share capital of BTG of US$50,000 divided into 500,000,000,000 shares of a par value of US$0.0000001 each comprising: Class A Ordinary Shares of a par value of US$0.0000001 each, Class V Ordinary Shares of a par value of US$0.0000001 each, and undesignated shares of a par value of US$0.0000001 each, which change will be effected given holders of BSGA Class A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class A Ordinary Shares) hold BTG Class A Ordinary Shares subject to the Amended BTG Articles. </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">RESOLVED to approve in all respect, the effective change in voting power in respect of the BSGA Class A Ordinary Shares given that, following the consummation of the Business Combination each BTG Class A Ordinary Share will be entitled to one (1) vote per share compared with each BTG Class V Ordinary Share being entitled to ten (10) votes per share, which change will be effected given holders of BSGA Class A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class A Ordinary Shares) hold BTG Class A Ordinary Shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">RESOLVED to approve in all respect the effective change in the requirement of the number of directors from (i) the minimum number of directors shall be one and there shall be no maximum number of directors to (ii) unless otherwise determined by BTG in general meeting, the number of directors shall be no less than three (3) and no more than twelve (12).</font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">RESOLVED to approve in all respect, all other changes in connection with the effective replacement of the Existing BSGA Articles with the Amended BTG Articles effective as of the consummation of the Business Combination, including changing the name from BSGA to BTG, and removing certain provisions relating to BSGA&#8217;s status as a blank check company that will no longer be applicable to BTG following consummation of the Business Combination, which changes will be effected given holders of BSGA Class A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class A Ordinary Shares), hold BTG Class A Ordinary Shares subject to the Amended BTG Articles.&#8221;</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Vote Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Governing Documents Proposal. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE GOVERNING DOCUMENTS PROPOSAL. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">146</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:116pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE GOVERNING DOCUMENTS PROPOSAL A</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(AUTHORIZED SHARE CAPITAL)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Governing Documents Proposal A &#8212;</font><font style="letter-spacing:0.2pt;"> to authorize the effective change in authorized share capital from (i)&#160;the maximum of 111,000,000 shares that BSGA is authorized to issue, with no par value, divided into three classes of shares as follows: (a) 100,000,000 class A ordinary shares with no par value; (b) 10,000,000 class B ordinary shares with no par value; and (c) 1,000,000 preferred shares with no par value, to (ii) the share capital of BTG of US$50,000 divided into 500,000,000,000 shares of a par value of US$0.0000001 each comprising: &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; Class&#160;A Ordinary Shares of a par value of US$0.0000001 each, &#8199;&#8199;&#8199;&#8199;&#8199;&#8199; Class&#160;V Ordinary Shares of a par value of US$0.0000001 each, and &#8199;&#8199;&#8199;&#8199;&#8199;&#8199; undesignated shares of a par value of US$0.0000001 each, which change will be effected given holders of BSGA Class&#160;A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class&#160;A Ordinary Shares) hold BTG Class&#160;A Ordinary Shares subject to the Amended BTG Articles. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming the Business Combination Proposal is approved, BSGA Shareholders are also being asked to approve Governing Documents Proposal A, which is, in the judgment of BSGA&#8217;s board of directors, necessary to adequately address the needs of BTG after the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If Governing Documents Proposal A is approved, the share capital will be effectively changed as set forth above. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This summary is qualified by reference to the complete text of the Amended BTG Articles, copies of which are attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. All BSGA Shareholders are encouraged to read the Amended BTG Articles in their entirety for a more complete description of their terms. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Reasons for the Change</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The purpose of this proposal is to provide for an authorized capital structure of BTG that will enable it to have available for issuance a number of authorized shares of ordinary shares and preference shares sufficient to support its growth and to provide flexibility for future corporate needs. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal A will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Governing Documents Proposal A. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE GOVERNING DOCUMENTS PROPOSAL A. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">147</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:152pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE GOVERNING DOCUMENTS PROPOSAL B</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(VOTING POWER)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Governing Documents Proposal B &#8212;</font><font style="letter-spacing:0.2pt;"> to authorize the effective change in voting power in respect of the BSGA Class&#160;A Ordinary Shares given that, following the consummation of the Business Combination each BTG Class&#160;A Ordinary Share will be entitled to one (1)&#160;vote per share compared with each BTG Class&#160;V Ordinary Share being entitled to ten (10) votes per share, which change will be effected given holders of BSGA Class&#160;A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class&#160;A Ordinary Shares) hold BTG Class&#160;A Ordinary Shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming the Business Combination Proposal is approved, BSGA Shareholders are also being asked to approve Governing Documents Proposal B, which is, in the judgment of BSGA&#8217;s board of directors, necessary to adequately address the needs of BTG after the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If Governing Documents Proposal B is approved, holders of shares of BTG Class&#160;V Ordinary Shares will have ten (10) votes per share on each matter properly submitted to the shareholders entitled to vote whereas holders of shares of BTG Class&#160;A Ordinary Shares will be entitled to one (1)&#160;vote per share. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This summary is qualified by reference to the complete text of the Amended BTG Articles, copies of which are attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. All BSGA stockholders are encouraged to read the Amended BTG Articles in their entirety for a more complete description of their terms. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Reasons for the Change</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The purpose of this proposal is to ensure that the voting control that Bitdeer founder, Mr.&#160;Jihan Wu, currently exercises with respect to Bitdeer continues with respect to BTG. Giving Mr.&#160;Jihan Wu this level of voting control will allow him to execute BTG&#8217;s long-term strategy following the Business Combination. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal B will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Governing Documents Proposal B. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE GOVERNING DOCUMENTS PROPOSAL B. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">148</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:188pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE GOVERNING DOCUMENTS PROPOSAL C</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(NUMBER OF DIRECTORS)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Governing Documents Proposal C &#8212;</font><font style="letter-spacing:0.2pt;"> to authorize the effective change in the requirement of the number of directors from (i) the minimum number of directors shall be one and there shall be no maximum number of directors to (ii) unless otherwise determined by BTG in general meeting, the number of directors shall be no less than three (3) and no more than twelve (12).</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming the Business Combination Proposal is approved, BSGA Shareholders are also being asked to approve Governing Documents Proposal C, which is, in the judgment of BSGA&#8217;s board of directors, necessary to adequately address the needs of BTG after the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If Governing Documents Proposal C is approved, the voting requirements around increasing the number of directors will be effectively changed as set forth above. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This summary is qualified by reference to the complete text of the Amended BTG Articles, copies of which are attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. All BSGA Shareholders are encouraged to read the Amended BTG Articles in their entirety for a more complete description of their terms. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Reasons for the Change</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The proposal is to ensure that BTG&#8217;s board of directors after the consummation of the Business Combination will be suitable for its operations and its status as a publicly traded company in the United States.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal C will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Governing Documents Proposal C. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE GOVERNING DOCUMENTS PROPOSAL C. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">149</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE GOVERNING DOCUMENTS PROPOSAL D</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(OTHER PROVISIONS INCLUDING STATUS AS A BLANK CHECK COMPANY)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Governing Documents Proposal D &#8212;</font><font style="letter-spacing:0.2pt;"> to authorize all other changes in connection with the effective replacement of the Existing BSGA Articles with the Amended BTG Articles effective as of the consummation of the Business Combination, including changing the name from BSGA to BTG, and removing certain provisions relating to BSGA&#8217;s status as a blank check company that will no longer be applicable to BTG following consummation of the Business Combination, which changes will be effected given holders of BSGA Class&#160;A Ordinary Shares will, effective as of the consummation of the Business Combination (and assuming such holders do not redeem their BSGA Class&#160;A Ordinary Shares), hold BTG Class&#160;A Ordinary Shares subject to the Amended BTG Articles. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Assuming the Business Combination Proposal is approved, BSGA Shareholders are also being asked to approve Governing Documents Proposal D, which is, in the judgment of BSGA&#8217;s board of directors, necessary to adequately address the needs of BTG after the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Amended BTG Articles will not contain provisions related to a blank check company (including those related to the operation of the trust account, winding up of BSGA&#8217;s operations should BSGA not complete a business combination by a specified date, and other such blank check-specific provisions as are present in the Existing BSGA Articles) because following the consummation of the Business Combination, BTG will not be a blank check company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Approval of each of the four separate proposals constituting the Governing Documents Proposal, assuming approval of the Business Combination Proposal, will result, upon the closing of the Business Combination, in the wholesale replacement of the Existing BSGA Articles with the Amended BTG Articles. While certain material changes between the Existing BSGA Articles and the Amended BTG Articles have been unbundled into distinct Governing Documents Proposals or otherwise identified in this Governing Documents Proposal D, there are other differences between the Existing BSGA Articles and Amended BTG Articles that will be approved (subject to the approval of the aforementioned related proposals and consummation of the Business Combination) if BSGA Shareholders approve this Governing Documents Proposal D. Accordingly, we encourage BSGA Shareholders to carefully review the terms of the Amended BTG Articles, attached hereto as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">, as well as the information provided in the &#8220;Comparison of Corporate Governance and Shareholder Rights&#8221; section of this proxy statement/prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This summary is qualified by reference to the complete text of the Amended BTG Articles, copies of which are attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. All BSGA Shareholders are encouraged to read the Amended BTG Articles in their entirety for a more complete description of their terms. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Reasons for the Change</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The BTG board of directors believes that changing the post-business combination corporate name from &#8220;Blue Safari Group Acquisition Corp.&#8221; to &#8220;Bitdeer Technologies Group&#8221; is desirable to reflect the Business Combination with Bitdeer and to clearly identify BTG as the publicly traded entity. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The elimination of certain provisions related to BSGA&#8217;s status as a blank check company is desirable because these provisions will serve no purpose following the Business Combination. For example, the Amended BTG Articles do not include the requirement to dissolve BTG upon failure to consummate a business combination in accordance with its terms, and allow BTG to continue as a corporate entity following the Business Combination. In addition, certain other provisions in BSGA&#8217;s current certificate require that proceeds from BSGA&#8217;s initial public offering be held in the trust account until a business combination or liquidation of BSGA has occurred. These provisions cease to apply once the Business Combination is consummated and are therefore not included in the Amended BTG Articles. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Governing Documents Proposal D will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">150</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:536pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Governing Documents Proposal D. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE GOVERNING DOCUMENTS PROPOSAL D.</font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">151</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTBIP">&#8203;</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BTG INCENTIVE PLAN PROPOSAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The holders of BSGA Shares are being asked to approve the BTG Incentive Plan. The BSGA Board intends to adopt the BTG Incentive Plan, subject to approval from the holders of BSGA Shares. If approved, the BTG Incentive Plan will become effective upon the Closing and will be used by BTG following the Closing. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The BSGA Board believes that BTG must offer a competitive equity incentive program if it is to successfully attract and retain the best possible candidates for positions of substantial responsibility within BTG. The BSGA Board expects that the BTG Incentive Plan will be an important factor in attracting, retaining and rewarding high caliber employees who are essential to BTG&#8217;s success and in providing incentive to these individuals to promote the success of BTG. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Summary of the BTG Incentive Plan</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following summary is not a complete statement of the BTG Incentive Plan and is qualified in its entirety by reference to the complete text of the BTG Incentive Plan, a copy of which is attached hereto as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex C</font><font style="letter-spacing:0.2pt;"> to this proxy statement/prospectus. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Shares Available for Awards</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subject to adjustment for specified changes in BTG&#8217;s capitalization as set forth in the BTG Incentive Plan, the maximum aggregate number of shares of common share that may be issued under the BTG Incentive Plan will be equal to the product of (i)&#160;2,548,933,157, multiplied by (ii)&#160;the Exchange Ratio (as defined in the Merger Agreement). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following shares of common shares will become available again for the grant of a share award under the BTG Incentive Plan: (i)&#160;any share issued pursuant to a share award that terminates, expires, or lapses for any reason; (ii)&#160;any share delivered by the participant or withheld by BTG upon the exercise of any award under the BTG Inventive Plan, in payment of the exercise price thereof or tax withholding thereon; and (iii)&#160;any share issued pursuant to a share award that is forfeited by the participant or repurchased by BTG. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Administration</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The BTG Incentive Plan will be administered by a Committee of one or more members of the Board to whom the Board shall delegate the authority to grant or amend awards to participants other than any of the Committee members. Subject to the terms of the BTG Incentive Plan, the Committee has full and final power and authority to make all decisions and determinations that may be required pursuant to the BTG Incentive Plan or as the Committee deems necessary or advisable to administer the BTG Incentive Plan, including: determine participants to receive awards; the type and number of awards to be granted; the terms and conditions of any award granted pursuant to the BTG Incentive Plan, including, but not limited to, the exercise price, grant price, or purchase price, any restrictions or limitations on the award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an award; prescribe the form of each notice of grant; and correct any defect, supply any omission and reconcile any inconsistency in the BTG Incentive Plan. The Committee also has the authority to reduce the exercise price per share underlying an option, and establish, adopt, waive, or revise any rules and regulations as it may deem necessary or advisable to administer the BTG Incentive Plan. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Types of Awards</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The terms of the BTG Incentive Plan provide for the grant of share options, restricted share&#160;units, and restricted shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Options</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee will be authorized to grant options to purchase shares of common share that are either &#8220;qualified,&#8221; meaning they are intended to satisfy the requirements of Section&#160;422 of the Code for incentive share options (&#8220;ISOs&#8221;), or &#8220;nonqualified,&#8221; meaning they are not intended to satisfy the requirements of Section&#160;422 of the Code. Options granted under the BTG Incentive Plan will be subject to terms, including </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">152</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">the exercise price and the conditions and timing of exercise, determined by the Committee and specified in the applicable award agreement. In general, the exercise price per share of common share for each non-qualified share option (&#8220;NSO&#8221;) granted under the BTG Incentive Plan will be a fixed or variable price related to the fair market value. The exercise price per share of common share for each ISO granted under the BTG Incentive Plan will be equal to the fair market value (or 110% of the fair market value, in the case of ISOs granted to a more than 10% shareholder) of the share at the time of grant. The maximum term of an option granted under the Incentive Plan will be ten&#160;years from the date of grant. Payment in respect of the exercise of an option may be made in cash or by check, or the Committee may, in its discretion and to the extent permitted by law, allow the payment to be made through a broker-assisted cashless exercise mechanism, a share tender exercise, or by any other method that the Committee determines to be appropriate. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Restricted Share Awards</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee will be authorized to award restricted shares under the BTG Incentive Plan. Each award of restricted share will be subject to the terms and conditions established by the Committee, including any dividend or voting rights. Restricted share awards are shares of common share that generally are non-transferable and subject to other restrictions determined by the Committee for a specified period. Unless the Committee determines otherwise or specifies otherwise in an award agreement, if the participant terminates employment or services during the restricted period, then any unvested restricted share is forfeited. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Restricted Share Units</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee will be authorized to award restricted share unit awards under the BTG Incentive Plan. The Committee will determine the terms of the restricted share&#160;units, including any dividend rights (and any performance goals and/or criteria upon whose attainment the restricted period shall lapse in part or full). Unless the Committee determines otherwise or specifies otherwise in an award agreement, if the participant terminates employment or services during the period of time over which all or a portion of the&#160;units are to be earned, then any unvested&#160;units will be forfeited. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Plan&#160;Amendment or Termination.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">With the approval of the Board, at any time and from time to time, the Committee has the authority to terminate, amend, modify, alter, suspend, or discontinue the BTG Incentive Plan or any portion thereof. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Eligibility</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Persons eligible to participate in the BTG Incentive Plan include persons recognized by the Committee, e.g., directors, employees and consultants, as determined by the Committee. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Terms and Conditions of Awards</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">All Awards</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Generally, the Committee will determine the terms of all awards under the BTG Incentive Plan, including the vesting and acceleration of vesting of awards, provisions for the withholding of taxes, and payment of amounts in lieu of cash dividends or other cash distributions with respect to BTG&#8217;s common share subject to awards. </font>
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          <font style="letter-spacing:0.2pt;">Awards Requiring Exercise</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Incentive share options and, except as provided in the award agreement, nonqualified share options, may not be transferred other than by will or the laws of descent and distribution, and during an employee&#8217;s lifetime may be exercised only by the employee or the employee&#8217;s guardian or legal representative. Upon the cessation of a participant&#8217;s employment with BTG, an award requiring exercise will cease to be exercisable and will terminate and all other unvested awards will be forfeited, except that: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">All share options held by the participant which were exercisable immediately prior to the participant&#8217;s termination of service with BTG other than for Cause (as defined in the BTG Incentive Plan) will, except as otherwise set forth in the option award agreement, remain exercisable until the tenth anniversary of the grant date to the extent that such options were vested and exercisable on the date of the participant&#8217;s termination of employment or service; </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">153</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:72pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">All share options held by the participant which were exercisable immediately prior to the participant&#8217;s termination of service with BTG due to death or disability will remain exercisable until the tenth anniversary of the grant date to the extent that such options were vested and exercisable on the date of the participant&#8217;s termination of employment on account of death or disability </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The exercise price of each award requiring exercise will be determined by the Committee and set forth in the Notice of Grant which may be a fixed or variable price related to the Fair Market Value of the Shares; provided that the exercise price of incentive share options shall be equal to the Fair Market Value on the date of grant; and incentive share options granted to participants who own share of BTG possessing more than 10% of the total combined voting power of all classes of share of BTG or any parent corporation, subsidiary corporation or affiliate of BTG (a &#8220;Ten Percent Holder&#8221;) must have an exercise price per share not less than 110% of the fair market value of a share of common share on the effective date the incentive share option is granted. Fair market value will be determined by the Committee consistent with the applicable requirements of Section&#160;409A of the Code. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Awards requiring exercise will have a maximum term not to exceed ten&#160;years from the date of grant. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Effect of a Change in Capital Structure</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In the event of a change in capital structure, the Committee may make such proportionate and equitable adjustments as it may deem appropriate to reflect such change with respect to (a)&#160;the aggregate number and type of shares that may be issued under the BTG Incentive Plan; (b)&#160;the terms and conditions of any issued and outstanding awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (c)&#160;the grant or exercise price per share for any issued and outstanding awards under the BTG Incentive Plan. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Number of Awards Granted to Employees, Consultants and Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of the date hereof, no awards have been granted under the BTG Incentive Plan. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Resolutions to be Voted Upon</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The full text of the resolutions to be proposed is as follows:</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;RESOLVED that the BTG Incentive Plan is hereby authorized and approved, to be effective immediately upon the consummation of the Business Combination.&#8221;</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Votes Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The BTG Incentive Plan&#160;Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the BTG Incentive Plan&#160;Proposal. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recommendation of the BSGA Board</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD UNANIMOUSLY RECOMMENDS THAT THE BSGA SHAREHOLDERS VOTE &#8220;FOR&#8221; THE APPROVAL OF THE BTG INCENTIVE PLAN PROPOSAL. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">154</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTAP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:220pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE ADJOURNMENT PROPOSAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Adjournment Proposal, if adopted, will approve the chairman&#8217;s adjournment of the Extraordinary General Meeting to a later date to permit further solicitation of proxies. The Adjournment Proposal will only be presented to our shareholders in the event, based on the tabulated votes, there are not sufficient votes received at the time of the Extraordinary General Meeting to approve the other Proposals. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Consequences if the Adjournment Proposal is Not Approved</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the Adjournment Proposal is not approved by our shareholders, the chairman will not adjourn the Extraordinary General Meeting to a later date in the event, based on the tabulated votes, there are not sufficient votes received at the time of the Extraordinary General Meeting to approve the Condition Precedent Proposals. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Resolutions to be Voted Upon</font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The full text of the resolutions to be proposed is as follows: </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;RESOLVED, that there are insufficient proxies received at the time of the Meeting to authorize, approve the other Proposals at the Meeting, the chairman of the Meeting be instructed to adjourn the Meeting in order to allow BSGA to solicit additional proxies in favor of the approval of the other Proposals.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Vote Required for Approval</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This Adjournment Proposal will be approved and adopted only if holders of at least a majority of the issued and outstanding BSGA Ordinary Shares present in person physically or by virtual attendance or represented by proxy and entitled to vote at the Extraordinary General Meeting vote &#8220;FOR&#8221; the Adjournment Proposal. Neither a shareholder&#8217;s failure to vote during the Extraordinary General Meeting or by proxy nor an abstention will be considered a vote &#8220;FOR.&#8221; An abstention or broker non-vote will be counted towards the quorum requirement but will not count as a vote cast at the Extraordinary General Meeting. The Adjournment Proposal is not conditioned on the approval of any other proposal set forth in this proxy statement/prospectus. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Board Recommendation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE BSGA BOARD RECOMMENDS A VOTE &#8220;FOR&#8221; ADOPTION OF THE ADJOURNMENT PROPOSAL. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">155</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tMTC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">MATERIAL TAX CONSIDERATIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Material U.S. Federal Income Tax Considerations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following are material U.S. federal income tax consequences of (i)&#160;the Business Combination generally applicable to U.S. Holders (defined below) of BSGA Class&#160;A Ordinary Shares and BSGA Rights (together, &#8220;BSGA Securities&#8221;) or Bitdeer Shares, (ii)&#160;the subsequent ownership and disposition of BTG ADSs received by such holders in the Business Combination and the underlying BTG Class&#160;A Ordinary Shares represented by such BTG ADSs and (iii)&#160;the exercise of redemption rights by U.S. Holders of BSGA Class&#160;A Ordinary Shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This summary is limited to U.S. federal income tax considerations relevant to U.S. Holders that hold BSGA Securities or Bitdeer Shares and, after the completion of the Business Combination, will hold BTG ADSs or BTG Class&#160;A Ordinary Shares, as &#8220;capital assets&#8221; within the meaning of Section&#160;1221 of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;) (generally, property held for investment). This discussion does not address all aspects of U.S. federal income taxation that may be relevant to particular holders in light of their individual circumstances or status, including: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">our Sponsor or any member thereof; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">banks or financial institutions; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">dealers or electing traders in securities that are subject to mark-to-market tax accounting rules; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">tax-exempt entities (including private foundations); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">insurance companies; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">regulated investment companies; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">real estate investment trusts; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">pension plans; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">cooperatives; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">government organizations; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">certain expatriates or former long-term residents of the United States; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">persons that acquired BSGA Securities or Bitdeer Shares as compensation; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">persons that actually or constructively own five&#160;percent or more of the shares of BSGA, Bitdeer, or, following the Business Combination, BTG, by vote or value; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">persons that hold BSGA Securities or Bitdeer Shares, or will hold BTG ADSs or BTG Class&#160;A Ordinary Shares, in connection with a trade or business, permanent establishment, or fixed place of business conducted outside the United States; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">persons that hold BSGA Securities or Bitdeer Shares, or will hold BTG ADSs or BTG Class&#160;A Ordinary Shares, as part of a straddle, constructive sale, hedging, conversion or other integrated or similar transaction; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">U.S. Holders (as defined below) whose functional currency is not the U.S. dollar. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If a partnership (or any entity so characterized for U.S. federal income tax purposes) holds Bitdeer Shares, BSGA Securities, BTG ADSs or BTG Class&#160;A Ordinary Shares, the tax treatment of such partnership and its partners will generally depend on the status of the partners and the activities of the partnership. Partnerships holding any Bitdeer Shares, BSGA Securities, BTG ADSs or BTG Class&#160;A Ordinary Shares and their partners should consult their tax advisers as to the particular U.S. federal income tax consequences of the Business Combination, ownership and disposition of BTG ADSs or BTG Class&#160;A Ordinary Shares, or the exercise of redemption rights with respect to the BSGA Class&#160;A Ordinary Shares. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">156</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This discussion is based on the Code, proposed, temporary and final Treasury regulations promulgated under the Code, and judicial and administrative interpretations thereof, all as of the date hereof. All of the foregoing is subject to change, which change could apply retroactively and could affect the tax considerations described herein. This discussion does not address alternative minimum or Medicare contribution tax considerations, the special tax accounting rules under Section&#160;451(b) of the Code or U.S. federal taxes other than those pertaining to U.S. federal income taxation (such as estate or gift taxes), nor does it address any aspects of U.S. state, local or non-U.S. taxation. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We have not and do not intend to seek any ruling from the U.S. Internal Revenue Service (the &#8220;IRS&#8221;) regarding any aspect of the Business Combination or the exercise of redemption rights. There can be no assurance that the IRS will not take positions that are inconsistent with those discussed below or that any such positions would not be sustained by a court. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As used herein, the term &#8220;U.S. Holder&#8221; means a person that for U.S. federal income tax purposes is a beneficial owner of BSGA Securities, Bitdeer Shares, or BTG ADSs received pursuant to the Business Combination and is: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a citizen or individual resident of the United States; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a corporation or other entity taxable as a corporation for U.S. federal income tax purposes, created or organized in or under the laws of the United States, any state therein or the District of Columbia; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source. </font>
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          <font style="letter-spacing:0.2pt;">THIS SUMMARY DOES NOT PURPORT TO BE A COMPREHENSIVE ANALYSIS OR DESCRIPTION OF ALL POTENTIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE BUSINESS COMBINATION. HOLDERS OF BSGA SECURITIES OR BITDEER SHARES SHOULD CONSULT THEIR TAX ADVISERS REGARDING THE PARTICULAR TAX CONSEQUENCES TO THEM OF THE BUSINESS COMBINATION AND OF THE OWNERSHIP AND DISPOSITION OF BTG ADSs AND BTG CLASS A ORDINARY SHARES AFTER THE BUSINESS COMBINATION, OR THE REDEMPTION OF THEIR BSGA CLASS A ORDINARY SHARES, INCLUDING THE APPLICABILITY AND EFFECTS OF U.S. FEDERAL, STATE, LOCAL, AND NON-U.S. TAX LAWS. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Consequences of the Business Combination to U.S. Holders of BSGA Securities</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Subject to the qualifications, assumptions and limitations set forth in this section entitled &#8220;&#8212;Consequences of the Business Combination to U.S. Holders of BSGA Securities,&#8221; in the opinion of Davis Polk &amp; Wardwell LLP, the following are the material U.S. federal income tax consequences of the Business Combination to U.S. Holders of BSGA Securities. As used in this section entitled &#8220;&#8212;Consequences of the Business Combination to U.S. Holders of BSGA Securities,&#8221; the term &#8220;U.S. Holder&#8221; means a U.S. Holder of BSGA Securities. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Separation of a BSGA Unit</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">No statutory, administrative or judicial authority directly addresses the treatment of an instrument such as a Unit for U.S. federal income tax purposes and, therefore, that treatment is not entirely clear. The separation of the BSGA Class&#160;A Ordinary Share and BSGA Right comprising a BSGA Unit should not be a taxable event for U.S. federal income tax purposes. However, because there are no authorities that directly address instruments that are similar to the BSGA Units, no assurance can be given that the IRS or a court will agree with the characterization described above. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Conversion of a BSGA Right into BSGA Class&#160;A Ordinary Shares</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">No statutory, administrative or judicial authority directly addresses the treatment of instruments similar to the BSGA Rights for U.S. federal income tax purposes and, therefore, that treatment is not entirely clear. While we believe that a U.S. Holder of BSGA Rights should not be required to recognize gain or loss upon the receipt of BSGA Class&#160;A Ordinary Shares pursuant to the conversion of the BSGA Rights, no assurance can be given that the IRS or a court will agree with this treatment. If this treatment is respected, the tax basis of BSGA Class&#160;A Ordinary Shares acquired by a U.S. Holder pursuant to the terms of the BSGA Rights should </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">157</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">be equal to the U.S. Holder&#8217;s tax basis in the relevant ten BSGA Rights with respect to which the share was issued. The holding period of such BSGA Class&#160;A Ordinary Shares should begin on the day after the conversion of the BSGA Rights into such BSGA Class&#160;A Ordinary Shares. U.S. Holders of BSGA Rights that do not receive BSGA Class&#160;A Ordinary Shares with respect thereto (because they hold fewer than ten BSGA Rights) should consult their tax advisers regarding their ability to claim a loss with respect to such non-converted BSGA Rights. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless the context indicates otherwise, the term &#8220;BSGA Class&#160;A Ordinary Shares,&#8221; as used in the remainder of this discussion, includes any BSGA Class&#160;A Ordinary Shares a U.S. Holder receives upon the conversion of such holder&#8217;s BSGA Rights in connection with the consummation of the Business Combination. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Qualification of the Initial Mergers as a Reorganization</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Initial Mergers should be treated as a &#8220;reorganization&#8221; described in Section&#160;368(a)(1)(F) of the Code (an &#8220;F Reorganization&#8221;). However, there is no assurance that the IRS or any court will agree with this position. U.S. Holders should be aware that the completion of the Business Combination is not conditioned on the receipt of an opinion of counsel that the Initial Mergers (or any other aspect of the Business Combination) qualify as tax-free transactions. Neither BSGA nor BTG has requested or will request a ruling from the IRS with respect to any aspect of the U.S. federal income tax treatment of the Business Combination. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming that the Initial Mergers qualify as an F Reorganization: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a U.S. Holder that exchanges its BSGA Class&#160;A Ordinary Shares pursuant to the Business Combination generally will not recognize gain or loss on the exchange of such BSGA Class&#160;A Ordinary Shares for BTG ADSs (or BTG Class&#160;A Ordinary Shares represented by such BTG ADSs), </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the adjusted tax basis of a U.S. Holder in the BTG ADSs received as a result of the Business Combination (or BTG Class&#160;A Ordinary Shares represented by such BTG ADSs) will equal the adjusted tax basis of the BSGA Class&#160;A Ordinary Shares surrendered in exchange therefor, and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a U.S. Holder&#8217;s holding period in the BTG ADSs (or BTG Class&#160;A Ordinary Shares represented by such BTG ADSs) received in the exchange will include the holding period in the BSGA Class&#160;A Ordinary Shares surrendered in exchange therefor. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The exchange of BSGA Rights for BSGA Class&#160;A Ordinary Shares, which in turn are exchanged for BTG ADSs, should also be a tax-free transaction to U.S. Holders of BSGA Rights, but it is possible that the IRS could take the position that such transactions are taxable to holders of BSGA Rights, even if the Initial Mergers qualify as an F Reorganization with respect to U.S. Holders of BSGA Class&#160;A Ordinary Shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the Initial Mergers do not qualify as an F Reorganization, the tax consequences of the Initial Mergers will depend on whether the Initial Mergers or any component thereof would qualify for tax-free treatment under other provisions of the Code, and whether BSGA and/or BTG are PFICs. U.S. Holders should consult their tax advisers regarding the U.S. federal income tax consequences of the Initial Mergers if they do not qualify as an F Reorganization or otherwise as tax-free transactions (including the requirement to recognize gain in that event). In addition, U.S. Holders should consult their tax advisers regarding whether the PFIC rules could apply to the transfer of their BSGA Class&#160;A Ordinary Shares pursuant to the Initial Mergers if they do not qualify as an F Reorganization (regardless of whether the Initial Mergers otherwise qualify for tax-free treatment). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Because the Initial Mergers will occur prior to the redemption of U.S. Holders that exercise redemption rights, U.S. Holders exercising such redemption rights will be subject to the potential tax consequences of the Initial Mergers. All U.S. Holders considering exercising redemption rights are urged to consult their tax advisors with respect to the potential tax consequences to them of the Initial Mergers and an exercise of redemption rights. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Effect of the Acquisition Merger</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming that the Initial Mergers qualify as an F Reorganization, as discussed above, the implementation of the subsequent Acquisition Merger should not have an adverse effect on the U.S. federal income tax </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">158</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">treatment of the exchange of BSGA Securities by U.S. Holders and accordingly, the Business Combination as a whole should be a nontaxable transaction to them for U.S. federal income tax purposes. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Consequences of the Business Combination to U.S. Holders of Bitdeer Shares</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Subject to the qualifications, assumptions and limitations set forth in this section entitled &#8220;&#8212;Consequences of the Business Combination to U.S. Holders of Bitdeer Shares,&#8221; the following are the material U.S. federal income tax consequences of the Business Combination to U.S. Holders of Bitdeer Shares. As used in this section entitled &#8220;&#8212;Consequences of the Business Combination to U.S. Holders of Bitdeer Shares,&#8221; the term &#8220;U.S. Holder&#8221; means a U.S. Holder of Bitdeer Shares.</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Qualification of the Acquisition Merger as a Reorganization</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Acquisition Merger is intended to qualify as a &#8220;reorganization&#8221; described in Section 368(a) of the Code (a &#8220;Reorganization&#8221;). In connection with the effectiveness of this registration statement of which this proxy statement/prospectus is a part, Cooley LLP, counsel to Bitdeer, will issue an opinion to Bitdeer that the Acquisition Merger should qualify as a Reorganization (the &#8220;Cooley opinion&#8221;). The Cooley opinion is prospective, dependent on future events, and based on customary assumptions and representations from Bitdeer, BSGA, and BTG, as well as certain covenants and undertakings by Bitdeer, BSGA, BTG, and their respective affiliates (together, the &#8220;tax opinion representations and assumptions&#8221;). If any of the tax opinion representations and assumptions are incorrect, incomplete, or inaccurate, or are violated, the validity of the Cooley opinion may be affected, and the tax consequences of the Acquisition Merger could differ from those described herein. An opinion of counsel represents counsel&#8217;s best legal judgment, but it is not binding on the IRS or any court and there is no assurance that the IRS will not challenge the Acquisition Merger&#8217;s qualification as a Reorganization or that a court will not sustain such a challenge. U.S. Holders should be aware that the completion of the Business Combination is not conditioned on the receipt of an opinion of counsel that the Acquisition Merger (or any other aspect of the Business Combination) qualifies as a tax-free transaction. Further, Bitdeer has not requested, and will not request, a ruling from the IRS with respect to any aspect of the U.S. federal income tax treatment of the Business Combination.</font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Assuming that the Acquisition Merger qualifies as a Reorganization:</font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a U.S. Holder that exchanges its Bitdeer Shares pursuant to the Business Combination generally will not recognize gain or loss on the exchange of such Bitdeer Shares for BTG ADSs (or BTG Class A Ordinary Shares represented by such BTG ADSs),</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the adjusted tax basis of a U.S. Holder in the BTG ADSs received as a result of the Business Combination (or BTG Class A Ordinary Shares represented by such BTG ADSs) generally will equal the adjusted tax basis of the Bitdeer Shares surrendered in exchange therefor, and</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a U.S. Holder&#8217;s holding period in the BTG ADSs (or BTG Class A Ordinary Shares represented by such BTG ADSs) received in the exchange generally will include the holding period in the Bitdeer Shares surrendered in exchange therefor.</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the Acquisition Merger does not qualify as a Reorganization or any other tax-free transaction under the Code, a U.S. Holder generally will recognize gain or loss equal to the difference, if any, between the fair market value of the amount realized in the Acquisition Merger and the U.S. Holder&#8217;s adjusted tax basis in the Bitdeer Shares exchanged therefor. Any such gain or loss generally will be capital gain or loss and will be long-term capital gain or loss if the U.S. Holder&#8217;s holding period in the Bitdeer Shares exceeds one year at the time of the Acquisition Merger. Long-term capital gain of non-corporate U.S. Holders currently are eligible for preferential tax rates, while the deductibility of capital losses is subject to limitations. The U.S. Holder&#8217;s adjusted tax basis in the BTG ADSs received in the Acquisition Merger generally will be equal to their fair market value at the time of the Acquisition Merger, and the U.S. Holder&#8217;s holding period in the BTG ADSs received in the Acquisition Merger generally will commence on the day following the Acquisition Merger. U.S. Holders should consult their tax advisers regarding the U.S. federal income tax consequences of the Acquisition Merger if it does not qualify as a Reorganization or any other tax-free transaction under the Code (including the requirement to recognize gain in that event). In addition, U.S. Holders should consult their tax advisers regarding whether the PFIC rules could apply to the transfer of their Bitdeer Shares pursuant to the </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">159</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Acquisition Merger if it does not qualify as a Reorganization (regardless of whether the Acquisition Merger otherwise qualifies for tax-free treatment). </font>
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          <font style="letter-spacing:-0.2pt;">Consequences of Ownership and Disposition of BTG ADSs and BTG Class&#160;A Ordinary Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Conversion of BTG ADSs to BTG Class&#160;A Ordinary Shares</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A U.S. Holder that owns BTG ADSs generally will be treated as the owner of the underlying BTG Class&#160;A Ordinary Shares represented by the BTG ADSs for U.S. federal income tax purposes. Accordingly, no gain or loss will be recognized if a U.S. Holder exchanges ADSs for the underlying Class&#160;A ordinary shares represented by those ADSs. </font>
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          <font style="letter-spacing:0.2pt;">Taxation of Distributions</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The following discussion is subject to the discussion below under &#8220;&#8201;&#8212;&#8201;Passive Foreign Investment Company Rules.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">A U.S. Holder generally will be required to include in gross income as dividend income the amount of any distribution paid on BTG Class&#160;A Ordinary Shares to the extent the distribution is paid out of BTG&#8217;s current or accumulated earnings and profits (as determined under U.S. federal income tax principles) on the day actually or constructively received by the U.S. Holder, in the case of BTG Class&#160;A Ordinary Shares, or by the depositary, in the case of BTG ADSs. Because BTG may not maintain calculations of earnings and profits under U.S. federal income tax principles, it is expected that the full amount of distributions (if any) paid by BTG will be reported as dividends for U.S. federal income tax purposes. </font>
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          <font style="letter-spacing:0.2pt;">Dividends received on BTG ADSs or BTG Class&#160;A Ordinary Shares will not be eligible for the dividends received deduction generally allowed to corporations. Dividends received by certain other non-corporate U.S. Holders of BTG ADSs may be subject to tax at the lower capital gain tax rate currently applicable to &#8220;qualified dividend income,&#8221; provided that certain conditions are satisfied, including that BTG is not a PFIC for the taxable year in which the dividend is paid or the preceding year and certain holding period and other requirements are met. It is unclear whether the redemption rights with respect to the BSGA Class&#160;A Ordinary Shares may prevent the holding period from commencing prior to the termination of such rights. U.S. Holders should consult their tax advisers regarding the availability of such lower rate on dividends generally and in their particular circumstances. </font>
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          <font style="letter-spacing:0.2pt;">Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of BTG ADSs or BTG Class&#160;A Ordinary Shares</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The following discussion is subject to the discussion below under &#8220;&#8201;&#8212;&#8201;Passive Foreign Investment Company Rules.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">A U.S. Holder generally will recognize capital gain or loss on the sale or other taxable disposition of BTG ADSs or BTG Class&#160;A Ordinary Shares in an amount equal to the difference between the amount realized on the disposition and such U.S. Holder&#8217;s adjusted tax basis in such BTG ADSs or BTG Class&#160;A Ordinary Shares, each determined in U.S. dollars. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder&#8217;s holding period for such BTG ADSs or BTG Class&#160;A Ordinary Shares exceeds one year. Long-term capital gain realized by a non-corporate U.S. Holder is currently eligible to be taxed at reduced rates. The deduction of capital losses is subject to certain limitations. </font>
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          <font style="letter-spacing:-0.2pt;">Consequences of a Redemption of BSGA Class&#160;A Ordinary Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following discussion is subject to the discussion below under &#8220;&#8201;&#8212;&#8201;Passive Foreign Investment Company Rules.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">In the event that a U.S. Holder&#8217;s BSGA Class&#160;A Ordinary Shares are redeemed pursuant to the redemption provisions described in this proxy statement/prospectus under &#8220;Extraordinary General Meeting of BSGA Shareholders&#8201;&#8212;&#8201;Redemption Rights,&#8221; the treatment of the redemption for U.S. federal income tax purposes will generally depend on whether the redemption qualifies as a sale of the BSGA Class&#160;A Ordinary Shares under Section&#160;302 of the Code (in which case such redemption would be treated as described above </font>
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          <font style="letter-spacing:0.2pt;">160</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">under the heading &#8220;&#8201;&#8212;&#8201;Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of BTG ADSs or BTG Class&#160;A Ordinary Shares&#8221;) or rather as a distribution, in which case such redemption would be treated as described in &#8220;&#8201;&#8212;&#8201;Taxation of Distributions.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">Generally, whether a redemption qualifies for sale treatment will depend largely on the total number of BSGA Class&#160;A Ordinary Shares treated as held by the U.S. Holder (including any shares constructively owned by the U.S. Holder described in the following paragraph) relative to all BSGA Class&#160;A Ordinary Shares outstanding both before and after such redemption (and treating BTG ADSs and BTG Class&#160;A Ordinary Shares as BSGA Class&#160;A Ordinary Shares for this purpose). The redemption of BSGA Class&#160;A Ordinary Shares generally will be treated as a sale of the BSGA Class&#160;A Ordinary Shares (rather than as a corporate distribution) if such redemption (i)&#160;is &#8220;substantially disproportionate&#8221; with respect to the U.S. Holder, (ii)&#160;results in a &#8220;complete termination&#8221; of the U.S. Holder&#8217;s interest in us or (iii)&#160;is &#8220;not essentially equivalent to a dividend&#8221; with respect to the U.S. Holder. These tests are explained more fully below. </font>
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          <font style="letter-spacing:0.2pt;">In determining whether any of the tests are satisfied, a U.S. Holder generally takes into account not only BSGA Class&#160;A Ordinary Shares actually owned by the U.S. Holder, but also any BSGA Class&#160;A Ordinary Shares that are constructively owned by such U.S. Holder. A U.S. Holder may constructively own, in addition to shares owned directly, shares owned by certain related individuals and entities in which the U.S. Holder has an interest or that have an interest in such U.S. Holder, as well as any shares the U.S. Holder has a right to acquire by exercise of an option. In order to meet the substantially disproportionate test, the&#160;percentage of our outstanding voting shares (including the BSGA Class&#160;A Ordinary Shares and the BTG ADSs received in exchange therefor) actually and constructively owned by the U.S. Holder immediately following the redemption of BSGA Class&#160;A Ordinary Shares must, among other requirements, be less than 80% of the&#160;percentage of our outstanding voting shares actually and constructively owned by the U.S. Holder immediately before the redemption. Before the Business Combination, the BSGA Class&#160;A Ordinary Shares may not be treated as voting shares for this purpose and, consequently, this substantially disproportionate test may not be applicable. There will be a complete termination of a U.S. Holder&#8217;s interest if either (i)&#160;all BSGA Class&#160;A Ordinary Shares actually and constructively owned by the U.S. Holder are redeemed or (ii)&#160;all BSGA Class&#160;A Ordinary Shares actually owned by the U.S. Holder are redeemed and the U.S. Holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of shares owned by certain family members and the U.S. Holder does not constructively own any other shares of ours. The redemption of the BSGA Class&#160;A Ordinary Shares will not be essentially equivalent to a dividend with respect to a U.S. Holder if it results in a &#8220;meaningful reduction&#8221; of the U.S. Holder&#8217;s proportionate interest in BSGA. Whether the redemption will result in a meaningful reduction in a U.S. Holder&#8217;s proportionate interest in us will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority shareholder in a publicly held corporation who exercises no control over corporate affairs may constitute such a &#8220;meaningful reduction.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">If none of the foregoing tests is satisfied, then the redemption will be treated as a corporate distribution and taxed in the manner described above under &#8220;&#8201;&#8212;&#8201;Taxation of Distributions.&#8221; After the application of those rules, any remaining tax basis of the U.S. Holder in the redeemed BSGA Class&#160;A Ordinary Shares will be added to the U.S. Holder&#8217;s adjusted tax basis in its remaining shares, or, if it has none, to the U.S. Holder&#8217;s adjusted tax basis in other shares constructively owned by such U.S. Holder. </font>
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          <font style="letter-spacing:0.2pt;">U.S. HOLDERS OF BSGA CLASS A ORDINARY SHARES CONTEMPLATING THE EXERCISE OF THEIR REDEMPTION RIGHTS SHOULD CONSULT THEIR TAX ADVISERS CONCERNING THE U.S. FEDERAL, STATE, LOCAL, AND NON-U.S. TAX CONSEQUENCES THEREOF. </font>
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          <font style="letter-spacing:-0.2pt;">Passive Foreign Investment Company Rules</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The treatment of U.S. Holders of BSGA Class&#160;A Ordinary Shares, BTG ADSs and BTG Class&#160;A Ordinary Shares could be materially different from that described above if BSGA or BTG is or was treated as a PFIC for U.S. federal income tax purposes. </font>
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          <font style="letter-spacing:0.2pt;">In general, a non-U.S. corporation is a PFIC for U.S. federal income tax purposes for any taxable year in which (i)&#160;50% or more of the value of its assets (generally determined on the basis of a weighted quarterly average) consists of assets that produce, or are held for the production of, passive income, or (ii)&#160;75% or more of its gross income consists of passive income. Passive income generally includes dividends, interest, royalties, </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">rents, investment gains, net gains from the sales of property that does not give rise to any income and net gains from the sale of commodities (subject to certain exceptions, such as an exception for certain income derived in the active conduct of a trade or business). Cash and cash equivalents are, and cryptocurrency balances are likely, passive assets. The value of goodwill will generally be treated as an active or passive asset based on the nature of the income produced in the activity to which the goodwill is attributable. For purposes of the PFIC rules, a non-U.S. corporation that owns, directly or indirectly, at least 25% by value of the stock of another corporation is treated as if it held its proportionate share of the assets of the other corporation, and received directly its proportionate share of the income of the other corporation. </font>
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          <font style="letter-spacing:0.2pt;">Based on the expected composition of BTG&#8217;s income and assets and the estimated value of BTG&#8217;s assets, including goodwill, BTG currently does not expect to be a PFIC for its taxable year ending December&#160;31, 2022. However, BTG&#8217;s PFIC status for any taxable year is a factual annual determination that can be made only after the end of that year and will depend on the composition of BTG&#8217;s income and assets and the value of its assets from time to time (including the value of its goodwill, which may be determined in large part by reference to the market price of the BTG ADSs from time to time, which could be volatile). Therefore, the risk of BTG being a PFIC for any taxable year will increase if its market capitalization declines substantially during that year. In addition, whether and to which extent BTG&#8217;s income and assets, including goodwill, will be characterized as active or passive will depend on various factors that are subject to uncertainty, including BTG&#8217;s future business plan and the application of laws that are subject to varying interpretation. For example, there is no authority that directly addresses the proper treatment of certain items of BTG&#8217;s income, such as income from proprietary cryptocurrency mining, hash rate sharing, or hosting for purposes of the PFIC rules and, although BTG currently treats these items of income as active, such treatment is uncertain. Moreover, certain of BTG&#8217;s business activities generate passive income and, although the amount of such income is currently small, BTG&#8217;s risk of being a PFIC will increase if the proportion of BTG&#8217;s revenue earned from such business activities increases in future taxable years. Accordingly, there can be no assurances that BTG will not be a PFIC for its current or any future taxable year. </font>
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          <font style="letter-spacing:0.2pt;">Because BSGA is a blank-check company with no current active business, based upon the composition of BSGA&#8217;s income and assets, unless BSGA qualifies for the start-up exception (defined below), BSGA believes it would qualify as a PFIC for its taxable year ending December&#160;31, 2021. Pursuant to the start-up exception, however, a corporation will not be a PFIC for the first taxable year the corporation has gross income (the &#8220;start-up year&#8221;), if (1)&#160;no predecessor of the corporation was a PFIC, (2)&#160;it is established to the satisfaction of the IRS that the corporation will not be a PFIC for either of the first two taxable&#160;years following the start-up year, and (3)&#160;the corporation is not in fact a PFIC for either of those&#160;years (the &#8220;start-up exception&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">Assuming the Initial Mergers qualify as an F Reorganization, BTG should be treated as the same corporation as BSGA for purposes of the PFIC rules, including the start-up exception. In that case, BSGA should not be treated as a PFIC for its taxable year ending December&#160;31, 2021, if it qualifies for the start-up exception for its taxable year ending December&#160;31, 2021, which requires that BTG will not be a PFIC for its taxable&#160;years ending December&#160;31, 2022, and December&#160;31, 2023. As discussed above, there can be no assurance with respect to BTG&#8217;s PFIC status for any taxable year. Because PFIC status for any taxable year will not be determinable until after the end of such year, and, in the case of the application of the start-up exception for BSGA in its taxable year ending December&#160;31, 2021, until after the end of BTG&#8217;s taxable year ending December&#160;31, 2023, there can be no assurance with respect to BSGA&#8217;s status as a PFIC for its taxable year ending December&#160;31, 2021. </font>
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          <font style="letter-spacing:0.2pt;">If BSGA is determined to be a PFIC with respect to a U.S. Holder who exchanges BSGA Class&#160;A Ordinary Shares for BTG ADSs in connection with the Initial Mergers and such U.S. Holder did not make any of the PFIC Elections (defined below) with respect to the BSGA Class&#160;A Ordinary Shares, then, although not free from doubt, BTG would also be treated as a PFIC as to such U.S. Holder with respect to such BTG ADSs (or the BTG Class&#160;A Ordinary Shares represented by such BTG ADSs), even if BTG is not a PFIC, unless such U.S. Holder makes a purging election with respect to its shares. Under one type of purging election, the U.S. Holder will be deemed to have sold such shares at their fair market value and any gain recognized on such deemed sale will be treated as an &#8220;excess distribution,&#8221; as described below. As a result of this election, the U.S. Holder will have additional basis (to the extent of any gain recognized in the deemed sale) and, solely for purposes of the PFIC rules, a new holding period in such holder&#8217;s BTG ADSs or BTG Class&#160;A Ordinary Shares. In the absence of a purging election, such U.S. Holder would be treated for purposes of the PFIC rules </font>
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          <font style="letter-spacing:0.2pt;">162</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">as if it held such BTG ADSs or BTG Class&#160;A Ordinary Shares for a period that includes its holding period for the BSGA Class&#160;A Ordinary Shares exchanged therefor. U.S. Holders are urged to consult their tax advisors regarding the application of the purging elections rules to their particular circumstances. </font>
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          <font style="letter-spacing:0.2pt;">In addition, if BSGA is determined to be a PFIC, any income or gain recognized by a U.S. Holder electing to have its BSGA Class&#160;A Ordinary Shares redeemed, as described above under the heading &#8220;&#8201;&#8212;&#8201;Consequences of Ownership and Disposition of BTG ADSs and BTG Class&#160;A Ordinary Shares&#8201;&#8212;&#8201;Consequences of a Redemption of BSGA Class&#160;A Ordinary Shares,&#8221; would generally be subject to a special tax and interest charge if such U.S. Holder did not make a qualified electing fund (&#8220;QEF&#8221;) election for BSGA&#8217;s first taxable year as a PFIC in which such U.S. Holder held (or was deemed to hold) such shares, a QEF election along with an applicable purging election, or a mark-to-market election (collectively, the &#8220;PFIC Elections&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">If BTG is a PFIC for any taxable year during which a U.S. person owns BTG ADSs or BTG Class A Ordinary Shares and any entity in which it owns equity interests is also a PFIC (a &#8220;Lower-tier PFIC&#8221;), the U.S. Holder will be deemed to own their proportionate amount (by value) of the shares of each Lower-tier PFIC and will be subject to U.S. federal income tax according to the rules described above on (i)&#160;certain distributions by a Lower-tier PFIC and (ii)&#160;dispositions of shares of Lower-tier PFICs, in each case as if the U.S. Holders held such shares directly, even though the U.S. Holders will not receive any proceeds of those distributions or dispositions. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If BSGA or BTG is a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. Holder of BTG ADSs or BTG Class&#160;A Ordinary Shares, gain recognized by the U.S. Holder on a sale or other disposition (including certain pledges) of its BTG ADSs or BTG Class&#160;A Ordinary Shares will be allocated ratably over the U.S. Holder&#8217;s holding period for such BTG ADSs or BTG Class&#160;A Ordinary Shares. The amounts allocated to the taxable year of the sale or disposition and to any year before BTG became a PFIC will be taxed as ordinary income. The amount allocated to each other taxable year will be subject to tax at the highest rate in effect for individuals or corporations, as applicable, for that taxable year, and an interest charge will be imposed on the resulting tax liability for each such year. Furthermore, to the extent that distributions received by a U.S. Holder in any taxable year on its BTG ADSs or BTG Class&#160;A Ordinary Shares exceed 125% of the average of the annual distributions on the BTG ADSs or BTG Class&#160;A Ordinary Shares received during the preceding three taxable&#160;years or the U.S. Holder&#8217;s holding period, whichever is shorter, the excess distributions will be subject to taxation in the same manner. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In general, a U.S. Holder of BSGA Class&#160;A Ordinary Shares may avoid the adverse PFIC tax consequences described above in respect of the BTG Class&#160;A Ordinary Shares by making and maintaining a timely and valid QEF election to include in income its pro&#160;rata share of BTG&#8217;s net capital gains (as long-term capital gains) and other earnings and profits (as ordinary income), on a current basis, in each case, whether or not distributed, in the taxable year of the U.S. Holder in which or with which BTG&#8217;s taxable year ends. In order to comply with the requirements of a QEF election, a U.S. Holder must receive a PFIC Annual Information Statement from BSGA or BTG, as the case may be. BTG and BSGA, as applicable, will endeavor to furnish U.S. Holders with the tax information necessary to enable a U.S. Holder to make a QEF election, if applicable. It is unclear whether a U.S. Holder of BSGA Rights is entitled to make a QEF election with respect to the BSGA Rights. Under proposed Treasury regulations, for purposes of the PFIC rules, the holding period of BSGA Class&#160;A Ordinary Shares received with respect to BSGA Rights (and the holding period of BTG ADSs received with respect thereto and the underlying BTG Class&#160;A Ordinary Shares) could include the holding period for the Rights. Therefore, if BSGA is a PFIC for any taxable year during which a U.S. Holder owned BSGA Rights, and assuming a QEF election is not available with respect to the BSGA Rights, the U.S. Holder may be subject to the general PFIC rules described in the preceding paragraph with respect to the shares underlying the BSGA Rights, even if the U.S. Holder made a QEF election with respect to its other BSGA Class&#160;A Ordinary Shares, unless a purging election is made. U.S. Holders of BSGA Rights should consult their tax advisers regarding whether and how the PFIC rules apply to their Rights or the underlying BSGA Class&#160;A Ordinary Shares. </font>
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          <font style="letter-spacing:0.2pt;">Alternatively, if BTG is a PFIC and if the BTG ADSs are &#8220;regularly traded&#8221; on a &#8220;qualified exchange,&#8221; a U.S. Holder of BTG ADSs could make a mark-to-market election that would result in tax treatment different from the general tax treatment for PFICs described above. The BTG ADSs will be treated as regularly traded for any calendar year in which more than a </font><font style="font-style:italic;letter-spacing:0.2pt;">de minimis</font><font style="letter-spacing:0.2pt;"> quantity of the BTG ADSs are traded on a qualified </font>
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          <font style="letter-spacing:0.2pt;">163</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">exchange on at least 15&#160;days during each calendar quarter. Nasdaq, where the BTG ADSs are expected to be listed, is a qualified exchange for this purpose. If a U.S. Holder of BTG ADSs makes the mark-to-market election, the U.S. Holder generally will recognize as ordinary income any excess of the fair market value of the BTG ADSs at the end of each taxable year over their adjusted tax basis, and will recognize an ordinary loss in respect of any excess of the adjusted tax basis of the BTG ADSs over their fair market value at the end of the taxable year, but only to the extent of the net amount of income previously included as a result of the mark-to-market election. If a U.S. Holder makes the mark-to-market election, the U.S. Holder&#8217;s tax basis in the BTG ADSs will be adjusted to reflect the income or loss amounts recognized. Any gain recognized on the sale or other disposition of BTG ADSs in a year in which we are a PFIC will be treated as ordinary income and any loss will be treated as an ordinary loss (but only to the extent of the net amount of income previously included as a result of the mark-to-market election, with any excess treated as capital loss). If a U.S. Holder makes the mark-to-market election, distributions paid on BTG ADSs will be treated as discussed under &#8220;&#8201;&#8212;&#8201;Taxation of Distributions&#8221; above. U.S. Holders should consult their tax advisers regarding the availability and advisability of making a mark-to-market election in their particular circumstances. U.S. Holders should note that there is no provision in the Code, Treasury regulations or other official IRS guidance that would give them the right to make a mark-to-market election with respect to any Lower-tier PFIC, the shares of which are not regularly traded, and, therefore, the general rules applicable to ownership of a PFIC described above could continue to apply to a U.S. Holder with respect to any Lower-tier PFIC of BTG, even if the U.S. Holder made a mark-to-market election with respect to the BTG ADSs. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If BTG is a PFIC for any taxable year during which a U.S. Holder owns any BTG ADSs or BTG Class&#160;A Ordinary Shares, subject to certain limited exceptions set forth in applicable Treasury regulations, the U.S. Holder will be required to file annual reports with the IRS with respect to BTG and any Lower-tier PFIC. U.S. Holders should consult their tax advisers regarding the determination of whether BSGA or BTG is a PFIC for any taxable year and the potential application of the PFIC rules to their ownership of BTG ADSs or BTG Class&#160;A Ordinary Shares. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Information Reporting and Backup Withholding</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">U.S. Holders that exchange their Bitdeer Shares for BTG ADSs (or BTG Class A Ordinary Shares represented by such BTG ADSs) pursuant to the Business Combination are required to retain permanent records pertaining to the Acquisition Merger and make such records available to any authorized IRS officers and employees. Additionally, such U.S. Holders that, immediately before the completion of the Acquisition Merger, own at least 1% (by vote or value) of Bitdeer capital stock or, in certain instances, Bitdeer &#8220;securities&#8221; with a basis of at least US$1 million are required to attach a statement to their U.S. federal income tax returns for the taxable year in which the Acquisition Merger is completed containing certain information prescribed by applicable Treasury regulations.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Payments of dividends and sales (including redemption) proceeds that are made within the United States or through certain U.S.-related financial intermediaries may be subject to information reporting and backup withholding, unless (i)&#160;the U.S. Holder is a corporation or other &#8220;exempt recipient&#8221; or (ii)&#160;in the case of backup withholding, the U.S. Holder provides a correct taxpayer identification number and certifies that it is not subject to backup withholding. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Backup withholding is not an additional tax. The amount of any backup withholding from a payment to a U.S. Holder will be allowed as a credit against its U.S. federal income tax liability and may entitle it to a refund, provided that the required information is timely furnished to the IRS. Certain U.S. Holders who are individuals (and certain specified entities) may be required to report information relating to their ownership of BSGA Securities, Bitdeer Shares, BTG ADSs or BTG Class&#160;A Ordinary Shares, or non-U.S. accounts through which they are held. </font>
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          <font style="letter-spacing:0.2pt;">U.S. Holders should consult their tax advisers regarding their reporting obligations with respect to their BSGA Securities, Bitdeer Shares, BTG ADSs and BTG Class&#160;A Ordinary Shares. </font>
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          <font style="letter-spacing:-0.2pt;">British Virgin Islands Tax Considerations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Under the BVI Companies Act, BSGA is exempt from all forms of BVI taxes; all dividends, interest, royalties and other amounts payable by BSGA, and any gain realized on any shares, debt obligations or other </font>
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          <font style="letter-spacing:0.2pt;">securities of BSGA, are exempt from BVI taxes; and no BVI estate, inheritance, succession or gift taxes are payable with respect to any shares, debt obligations or other securities of BSGA. </font>
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          <font style="letter-spacing:0.2pt;">Consequently, the Initial Mergers will not give rise to any material BVI tax consequences for BSGA or the holders of their BSGA Ordinary Shares. </font>
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          <font style="letter-spacing:-0.2pt;">Cayman Islands Tax Considerations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The following summary contains a description of certain Cayman Islands income tax consequences of the acquisition, ownership and disposition of ordinary shares, but it does not purport to be a comprehensive description of all the tax considerations that may be relevant to a decision to purchase ordinary shares. The summary is based upon the tax laws of Cayman Islands and regulations thereunder as of the date hereof, which are subject to change. </font>
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          <font style="letter-spacing:0.2pt;">Prospective investors should consult their professional advisers on the possible tax consequences of buying, holding or selling any shares under the laws of their country of citizenship, residence or domicile. </font>
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          <font style="letter-spacing:0.2pt;">The following is a discussion on certain Cayman Islands income tax consequences of an investment in the BTG Class&#160;A Ordinary Shares. The discussion is a general summary of present law, which is subject to prospective and retroactive change. It is not intended as tax advice, does not consider any investor&#8217;s particular circumstances, and does not consider tax consequences other than those arising under Cayman Islands law. </font>
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          <font style="letter-spacing:-0.2pt;">Under Existing Cayman Islands Laws:</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Payments of dividends and capital in respect of BTG Securities will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of interest and principal or a dividend or capital to any holder of BTG Class&#160;A Ordinary Shares,nor will gains derived from the disposal of the BTG Class&#160;A Ordinary Shares be subject to Cayman Islands income or corporation tax. The Cayman Islands currently have no income, corporation or capital gains tax and no estate duty, inheritance tax or gift tax. </font>
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          <font style="letter-spacing:0.2pt;">No stamp duty is payable in respect of the issue of BTG Securities or on an instrument of transfer in respect of a BTG Security. </font>
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          <font style="letter-spacing:0.2pt;">BTG has been incorporated under the laws of the Cayman Islands as an exempted company with limited liability and, as such, has applied for and expects to obtain / obtained an undertaking from the Governor in Cabinet of the Cayman Islands in the following form: </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Tax Concessions Law</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Undertaking as to Tax Concessions</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In accordance with Section&#160;6 of the Tax Concessions Act (2018 Revision) of the Cayman Islands, BTG plans to apply an undertaking from the Governor in Cabinet: </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;that no law which is hereafter enacted in the Cayman Islands imposing any tax to be levied on profits, income, gains or appreciations shall apply to BSGA or its operations; and </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;in addition, that no tax to be levied on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance tax shall be payable: </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;on or in respect of the shares, debentures or other obligations of BSGA; or </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;by way of the withholding in whole or part, of any relevant payment as defined in Section&#160;6(3) of the Tax Concessions Law. </font>
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          <font style="letter-spacing:0.2pt;">These concessions shall be for a period of TWENTY years from the date of such undertaking. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Cayman Islands currently levy no taxes on individuals or corporations based upon profits, income, gains or appreciations and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to BTG levied by the Government of the Cayman Islands save certain stamp duties which may be applicable, from time to time, on certain instruments executed in or brought within the jurisdiction of the Cayman Islands. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tIRTB">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">INFORMATION RELATED TO BTG</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">The information provided below pertains to BTG prior to the Business Combination. As of the date of this proxy statement/prospectus, BTG has not conducted any material activities other than those incident to its formation and to the matters related to effectuating the Business Combination, such as the making of certain required SEC filings, the establishment of BSGA Merger Sub and the preparation of this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus. Upon the consummation of the Merger Agreement at the Closing on the Closing Date, BTG will become the ultimate parent of Bitdeer. For information about BTG&#8217;s management and corporate governance following the Business Combination, see the section titled &#8220;Management of BTG Following the Business Combination.&#8221;</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font></div>
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          <font style="letter-spacing:-0.2pt;">Incorporation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG was incorporated as an exempted company under the laws of Cayman Islands on December&#160;8, 2021, solely for the purpose of effectuating the Business Combination. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG was incorporated with an aggregate authorized share capital of US$50,000 divided into 500,000,000,000 registered shares of a par value of US$0.0000001 per share. One such share is currently issued and outstanding. For descriptions of BTG Securities, please see the section titled &#8220;Description of BTG Securities.&#8221; At incorporation, its assets consisted of the par value contributed for its sole outstanding share. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG&#8217;s corporate purpose is unrestricted and BTG shall have the full power and authority to carry out any object not prohibited by the Cayman Companies Act or any other law of the Cayman Islands. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG will, immediately after the consummation of the Business Combination at the Closing on the Closing Date, qualify as a foreign private issuer as defined in Rule&#160;3b-4 under the Exchange Act. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Memorandum and Articles of Association</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">At the consummation of the Business Combination at the Closing on the Closing Date, the amended and restated memorandum and articles of association of BTG shall be substantially in the form attached to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. See section entitled &#8220;Description of BTG Securities.&#8221; </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Principal Executive Office</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The mailing address of BTG is Harbour Place, 2nd Floor, 103 South Church Street, P.O. Box 472, George Town, Cayman Islands, KY1-1106. After the consummation of the Business Combination at the Closing on the Closing Date, its principal executive office shall be that of Bitdeer, located at 08 Kallang Avenue, Aperia tower 1, #09-03/04, Singapore 339509 and its telephone number is +65 62828220</font><font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">.</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Financial Year</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG has no material assets and does not operate any businesses. Accordingly, no financial statements of BTG have been included in this proxy statement/prospectus. BTG&#8217;s financial year is currently the calendar year. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Subsidiaries</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each of BSGA Merger Sub 1 and BSGA Merger Sub 2 is a newly incorporated British Virgin Islands business company and a direct wholly-owned subsidiary of BTG. Bitdeer Merger Sub is a newly incorporated Cayman Islands exempted company, and a wholly-owned subsidiary of BTG. As of the date of this proxy statement/prospectus, none of BSGA Merger Sub 1, BSGA Merger Sub 2 or Bitdeer Merger Sub has conducted any material activities other than those incident to its formation and to the matters contemplated by the Merger Agreement. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Sole Shareholder</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Prior to the consummation of the Business Combination, the sole shareholder of BTG is C100 Holding Company, a Cayman Islands exempted company wholly-owned by Clara Yuexi Jiang. Upon the </font>
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          <font style="letter-spacing:0.2pt;">166</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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      <div style="margin-top:6pt;margin-bottom:344pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">consummation of the Business Combination, BTG will become a new public company owned by the prior BSGA Shareholders, the prior holders of Bitdeer Shares and Bitdeer RSUs, and the Sponsor Related Parties. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Board of Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Prior to the consummation of the Business Combination, the sole director of BTG is Clara Yuexi Jiang, who will continue as the sole director of BTG from the date of the Initial Mergers until the date of the Acquisition Merger. As of the consummation of the Business Combination, the number of directors of BTG is expected to increase to seven persons, including Jihan Wu, Linghui Kong, Xiaoni Meng, Jianchun Liu and three independent directors. Immediately following the consummation of the Business Combination, the composition of BTG&#8217;s board of directors will satisfy the applicable independence requirements under the Listing Rules of Nasdaq and Rule&#160;10A-3 of the Exchange Act. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Legal Proceedings</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of the date of this proxy statement/prospectus, BTG was not party to any material legal proceedings. In the future, BTG may become party to legal matters and claims arising in the ordinary course of business. </font>
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          <font style="letter-spacing:-0.2pt;">Properties</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG currently does not own or lease any physical property. </font>
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          <font style="letter-spacing:-0.2pt;">Employees</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BTG currently has no employees.</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">167</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tIRTBS">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">INFORMATION RELATED TO BSGA</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Unless the context otherwise requires, all references in this section to the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221; refer to BSGA prior to the consummation of the Business Combination.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA was incorporated in the British Virgin Islands on February&#160;23, 2021, and was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company has until June&#160;14, 2022 to consummate a Business Combination, subject to extensions of up to two times, each by an additional three&#160;months (for a total of up to 18&#160;months). If BSGA is unable to complete its initial business combination within such 12-month period and the Board does not extend the deadline as provided in the Articles of Association, it will: (i)&#160;cease all operations except for the purpose of winding up, (ii)&#160;as promptly as reasonably possible but not more than ten business days thereafter subject to lawfully available funds therefor, redeem 100% of the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the trust account and not previously released to pay its taxes or to fund its working capital requirements (less up to US$50,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders&#8217; rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii)&#160;as promptly as reasonably possible following such redemption, subject to the approval of its remaining shareholders and board of directors, dissolve and liquidate, subject in each case to its obligations under BVI law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Private Placement Units, which will expire worthless if BSGA fails to complete its initial business combination within the 12-month (or 18-month, if applicable) time period. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Offering Proceeds Held in Trust</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On June&#160;14, 2021, we consummated our IPO of 5,000,000 BSGA Units, at US$10.00 per Unit, generating gross proceeds of US$50,000,000. Simultaneously with the closing of our IPO, we consummated the sale of 292,500 Private Placement Units in a private placement to our Sponsor, generating gross proceeds of US$2,925,000. The underwriters exercised their over-allotment option simultaneously with the IPO for an additional 750,000&#160;Units. The Units were sold at an offering price of US$10.00 per Unit, generating gross proceeds of US$7,500,000. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Following the closing of our IPO, an amount of US$58,075,000 from the net proceeds of the sale of the Units our IPO and the sale of the Private Placement Units was placed in the Trust Account which is invested in U.S. government securities, within the meaning set forth in Section&#160;2(a)(16) of the Investment Company Act of 1940, as amended, or the Investment Company Act, with a maturity of 180&#160;days or less or in any open-ended investment company that holds itself out as a money market fund meeting the conditions of Rule&#160;2a-7 of the Investment Company Act, as determined by use, until the earlier of: (i)&#160;the consummation of a business combination or (ii)&#160;the distribution of the funds in the Trust Account. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of December 31, 2021 and March 31, 2022, a total of approximately US$58.1 million of the net proceeds from the sale of the&#160;units in the IPO (including the over-allotment&#160;units) and the private placements were deposited in a trust account established for the benefit of the Company&#8217;s public shareholders with Continental acting as trustee. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Business Combination Activities</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On December 15, 2021, the Merger Agreement was entered into by and among BTG, Bitdeer, BSGA, BSGA Merger Sub 1, BSGA Merger Sub 2, Bitdeer Merger Sub and BSGA Sub, amending and restating the agreement and plan of merger dated November&#160;18, 2021, by and among Bitdeer, BSGA and BSGA Sub. Pursuant to the terms of the Merger Agreement, (i) BSGA Merger Sub 1 will merge with and into BSGA with BSGA being the surviving entity, (ii) immediately following the First SPAC Merger, BSGA will merge with and into BSGA Merger Sub 2, with BSGA Merger Sub 2 being the surviving entity, and (iii) following the Initial Mergers, Bitdeer Merger Sub will merge with and into Bitdeer, with Bitdeer being the surviving entity </font>
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          <font style="letter-spacing:0.2pt;">168</font>
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          <font style="letter-spacing:0.2pt;">and becoming a wholly-owned subsidiary of BTG. The Mergers and other transactions contemplated by the Merger Agreement are collectively referred to as the Business Combination. The consummation of the Business Combination remains subject to customary closing conditions. </font>
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          <font style="letter-spacing:-0.2pt;">Redemption Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Pursuant to our Articles of Association, our shareholders (except the initial shareholders) will be entitled to redeem their public shares for a pro&#160;rata share of the Trust Account (currently anticipated to be no less than approximately US$10.10 per ordinary share), net of taxes payable. The initial shareholders do not have redemption rights with respect to any ordinary shares owned by them, directly or indirectly. </font>
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          <font style="letter-spacing:-0.2pt;">Automatic Dissolution and Subsequent Liquidation of Trust Account if No Business Combination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If BSGA does not complete a business combination within 12&#160;months from the consummation of the IPO (unless such time period has been extended as described herein), it will trigger the automatic winding up, dissolution and liquidation pursuant to the terms of its Articles of Association. The occurrence of such an event has the same effect as if BSGA had formally gone through a voluntary liquidation procedure under BVI law. Accordingly, no vote would be required from BSGA Shareholders to commence such a voluntary winding up, dissolution and liquidation. If BSGA is unable to consummate its initial business combination within such time period, it will, as promptly as possible but not more than ten business days thereafter, redeem 100% of BSGA&#8217;s outstanding public shares for a pro&#160;rata portion of the funds held in the Trust Account, including a pro&#160;rata portion of any interest earned on the funds held in the Trust Account and not necessary to pay its taxes, and then seek to liquidate and dissolve. In the event of its dissolution and liquidation, the rights of BSGA will expire and will be worthless. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The proceeds deposited in the Trust Account could, however, become subject to claims of our creditors that are in preference to the claims of our public shareholders. Although BSGA will seek to have all vendors, service providers (excluding our independent registered public accounting firm), prospective target businesses and other entities with which we do business execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the Trust Account for the benefit of our public shareholders, there is no guarantee that they will execute such agreements or even if they execute such agreements that they would be prevented from bringing claims against the Trust Account including, but not limited to, fraudulent inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain an advantage with respect to a claim against our assets, including the funds held in the Trust Account. If any third party refuses to execute an agreement waiving such claims to the monies held in the Trust Account, BSGA will perform an analysis of the alternatives available to it and will only enter into an agreement with a third-party that has not executed a waiver if management believes that such third-party&#8217;s engagement would be significantly more beneficial to us than any alternative. Examples of possible instances where we may engage a third party that refuses to execute a waiver include the engagement of a third-party consultant whose particular expertise or skills are believed by management to be significantly superior to those of other consultants that would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. </font>
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          <font style="letter-spacing:0.2pt;">Maxim Group LLC, the underwriter in BSGA&#8217;s IPO, has not executed agreements with us waiving such claims to the monies held in the Trust Account. In addition, there is no guarantee that entities will agree to waive any claims they may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and will not seek recourse against the Trust Account for any reason. In order to protect the amounts held in the trust account, our Sponsor has agreed that it will be liable to us if and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target business with which we have discussed entering into a transaction agreement, reduce the amounts in the Trust Account to below the lesser of (i)&#160;US$10.10 per Unit and (ii)&#160;the actual amount per Unit held in the Trust Account as of the date of the liquidation of the Trust Account if less than US$10.10 per share due to reductions in the value of the Trust Assets, in each case less taxes payable, provided that such liability will not apply to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account nor will it apply to any claims under our indemnity of the underwriters of IPO against certain liabilities, including liabilities under the Securities Act. However, we have not asked our Sponsor to reserve for such indemnification obligations, nor have we independently verified whether our Sponsor has sufficient funds to satisfy its indemnity obligations </font>
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          <font style="letter-spacing:0.2pt;">and we believe that our Sponsor&#8217;s only assets are securities of BSGA. Therefore, we cannot assure you that our Sponsor would be able to satisfy those obligations. None of our officers or directors will indemnify us for claims by third parties, including, without limitation, claims by vendors and prospective target businesses. </font>
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          <font style="letter-spacing:0.2pt;">In the event that the proceeds in the Trust Account are reduced below the lesser of (i)&#160;US$10.10 per Unit and (ii)&#160;the actual amount per public share held in the Trust Account as of the date of the liquidation of the trust account is less than US$10.10 per share due to reductions in the value of the trust assets, in each case less taxes payable, and our Sponsor asserts that it is unable to satisfy its indemnification obligations or that it has no indemnification obligations related to a particular claim, our independent directors would determine whether to take legal action against our Sponsor to enforce its indemnification obligations. While BSGA currently expects that its independent directors would take legal action on its behalf against Sponsor to enforce its indemnification obligations to BSGA, it is possible that BSGA&#8217;s independent directors in exercising their business judgment may choose not to do so in any particular instance. Accordingly, BSGA cannot assure you that due to claims of creditors the actual value of the per-share redemption price will not be less than US$10.10 per Unit. </font>
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          <font style="letter-spacing:0.2pt;">If BSGA files a bankruptcy petition or an involuntary bankruptcy petition is filed against it that is not dismissed, the proceeds held in the Trust Account could be subject to applicable bankruptcy law, and may be included in its bankruptcy estate and subject to the claims of third parties with priority over the claims of our public shareholders. To the extent any bankruptcy claims deplete the Trust Account, we cannot assure you we will be able to return US$10.10 per share to our public shareholders. Additionally, if we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a &#8220;preferential transfer&#8221; or a &#8220;fraudulent conveyance.&#8221; As a result, a bankruptcy court could seek to recover some or all amounts received by our public shareholders. Furthermore, our Board may be viewed as having breached its fiduciary duty to our creditors and/or may have acted in bad faith, and thereby exposing itself and BSGA to claims of punitive damages, by paying public shareholders from the Trust Account prior to addressing the claims of creditors. We cannot assure you that claims will not be brought against us for these reasons. </font>
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          <font style="letter-spacing:0.2pt;">Each of the initial shareholders has agreed to waive its rights to participate in any liquidation of the Trust Account or other assets with respect to the Private Placement Units they held. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Facilities</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We maintain our principal executive offices at Cheung Kong Center, 58 Floor, Unit 5801, 2 Queens Road Central, Central, Hong Kong. An affiliate of our Sponsor is providing this space for a fee of US$10,000 per month. We consider our current office space adequate for our current operations. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Employees</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">BSGA has two executive officers. These individuals are not obligated to devote any specific number of hours to its matters and intend to devote only as much time as they deem necessary to its affairs. BSGA&#8217;s executive officers to devote such amount of time as they reasonably believe is necessary to BSGA&#8217;s business. BSGA does not intend to have any full-time employees prior to the consummation of a business combination. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">170</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBDAE">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA&#8217;S DIRECTORS AND EXECUTIVE OFFICERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Unless otherwise stated or unless the context otherwise requires, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;our company,&#8221; and &#8220;BSGA&#8221; refer to Blue Safari Group Acquisition Corp.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Current Directors and Executive Officers</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA&#8217;s directors and executive officers are as follows as of the Record Date: </font>
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                <font style="letter-spacing:-0.16pt;">Name </font>
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                <font style="letter-spacing:-0.16pt;">Age </font>
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                <font style="letter-spacing:-0.16pt;">Position </font>
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            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:168pt;">
              <font style="letter-spacing:0.2pt;">Alan Yamashita </font>
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            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:36pt;text-align:center;">
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                <font style="letter-spacing:0.2pt;">72 </font>
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            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:228pt;">
              <font style="letter-spacing:0.2pt;">Chairman </font>
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              <font style="letter-spacing:0.2pt;">Alex Yamashita </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:36pt;text-align:center;">
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                <font style="letter-spacing:0.2pt;">36 </font>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Chief Executive Officer and Chief Investment Officer </font>
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              <font style="letter-spacing:0.2pt;">Naphat Sirimongkolkasem </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:36pt;text-align:center;">
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                <font style="letter-spacing:0.2pt;">33 </font>
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              <font style="letter-spacing:0.2pt;">Chief Financial Officer and Director </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">Mark Streeter </font>
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                <font style="letter-spacing:0.2pt;">39 </font>
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              <font style="letter-spacing:0.2pt;">Director </font>
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              <font style="letter-spacing:0.2pt;">Rolf Hoefer </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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                <font style="letter-spacing:0.2pt;">34 </font>
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              <font style="letter-spacing:0.2pt;">Director </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">Joseph Chow </font>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:36pt;text-align:center;">
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                <font style="letter-spacing:0.2pt;">50 </font>
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              <font style="letter-spacing:0.2pt;">Director</font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Mr.&#160;Alan Yamashita</font><font style="letter-spacing:0.2pt;"> serves as our Chairman and has over forty&#160;years of experience in capital markets, with a focus on investment management, investment banking, and alternative investment. Since 2013, he has been Managing Partner at Polar Ventures, a private investment firm that provides capital and strategic solutions to companies in sectors important to the Asia region&#8217;s development. He is also Board Director of Invion Limited, an ASX-listed biotech company since 2019. From 2008 to 2011, Mr.&#160;Yamashita served as Executive Advisor to Mizuho Alternative Investments LLC, which was a subsidiary of the Mizuho Financial Group, dedicated to developing and managing quantitative investment strategies. During his tenure, Mr.&#160;Yamashita provided strategy, management and execution for the firm&#8217;s distressed credit, structured credit and CLO management businesses, including sourcing and investing in non-performing real estate, consumer and corporate loans. From 1999 to 2005, Mr.&#160;Yamashita served as President and Chief Executive Officer of Search Investment Group and founding Chief Executive Officer and Chief Investment Officer of Search Alternative Investment Limited, a major private global hedge fund and private equity investment practice headquartered in Asia. During his seven-year tenure, Mr.&#160;Yamashita managed a multibillion-dollar portfolio of hedge funds and private equity holdings. From 1996 to 1998, Mr.&#160;Yamashita was Managing Director and Head of Asia Capital Markets for Merrill Lynch. During his tenure at Merrill Lynch, Mr.&#160;Yamashita built an award-winning franchise (IFR 1997) for profitability, volume and quality of capital markets business and was responsible for senior origination relationships in Asia. From 1979 to 1995, Mr.&#160;Yamashita was a 16 year veteran of Goldman Sachs, where he held various positions, including founding Asia manager for Goldman Sachs Asset Management (GSAM), and Executive Director for Goldman Sachs Fixed Income, Currency and Commodity (FICC), with postings in New York, Tokyo, and Hong Kong. Mr.&#160;Yamashita commenced his career as an international credit analyst at Standard and Poor&#8217;s in New York in 1977, becoming a Vice President in 1978. Mr.&#160;Yamashita holds an MPA from Princeton University&#8217;s School of Public and International Affairs and a BA from Yale University. We believe that Mr.&#160;Yamashita is qualified to serve on our board of directors based on his finance and investment expertise. Mr.&#160;Alan Yamashita is Mr.&#160;Alex Yamashita&#8217;s father. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Mr.&#160;Alex Yamashita</font><font style="letter-spacing:0.2pt;"> has served as our Chief Executive Officer and Chief Investment Officer since February&#160;2021. Mr.&#160;Yamashita has over a decade of experience in investment, fintech, and entrepreneurship. Since 2021, he has been a director at Cultur3 Capital, an Approved Investment Manager. From 2020 to 2021, he was the co-founder and partner of PPL, a private investment company with a focus in blockchain, the digital asset space and fintech sectors, where he oversaw deal origination, investment analysis and key strategic relationships with founders and entrepreneurs both in Asia and globally. From 2016 to 2019, Mr.&#160;Yamashita was the co-founder at TLDR, a leading global blockchain and fintech investment and advisory firm. During Mr.&#160;Yamashita&#8217;s tenure, TLDR grew to over 300&#160;million HKD of assets under management in its principal portfolio. From 2012 to 2015, Mr.&#160;Yamashita undertook several entrepreneurial ventures and led various investments ranging from agritech to fintech and big data, including Omnisci, which uses graphics processing&#160;units and central processing&#160;units to query and visualize big data. From 2008 to 2012, Mr.&#160;Yamashita was Vice President for Asia and Japan Equities at CLSA, and from 2007 to 2008, an analyst at Goldman Sachs&#8217; FICC Structured Products Group. Mr.&#160;Yamashita received his BA in Economics from Yale </font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">171</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:0.2pt;">University. We believe that Mr.&#160;Yamashita is qualified to serve on our board of directors based on his fintech and investment expertise. Mr.&#160;Alex Yamashita is Mr.&#160;Alan Yamashita&#8217;s son. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Mr.&#160;Naphat Sirimongkolkasem</font><font style="letter-spacing:0.2pt;"> has served as our Chief Financial Officer and as a member of our board of directors since April&#160;2021. Mr.&#160;Sirimongkolkasem is experienced in management, business development and capital market transactions, including M&amp;A, fundraising, initial public offering, and restructuring in Asia. Since 2021, Mr.&#160;Sirimongkolkasem has been the co-Founder of Collis Capital. Mr.&#160;Sirimongkolkasem is responsible for the operation activities of Collis Capital, overseeing the analysis and evaluation of opportunities. Since 2020, Mr.&#160;Sirimongkolkasem has also been an investment advisor of Everbright Overseas Infrastructure Investment Fund, a private equity fund under China Everbright Limited with USD 300&#160;million of AUM, and serving as a director at one of the portfolio companies of the fund. From 2017 to 2021, Mr.&#160;Sirimongkolkasem was investment director of Sapientia Capital Limited. From 2014 to 2017, Mr.&#160;Sirimongkolkasem was a consultant at Vision Skill Consulting limited, which specializes in strategy, management and engineering advisory in areas that cover infrastructure, transportation and hospitality. Mr.&#160;Sirimongkolkasem obtained his Bachelor&#8217;s Degree of Arts in Economics from Durham University (United Kingdom) in 2012. We believe that Mr. Sirimongkolkasem is qualfied to serve on our board of directors based on his extensive experience in investment. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Mr.&#160;Mark Streeter</font><font style="letter-spacing:0.2pt;"> serves as a member of our board of directors and has over a decade of experience in institutional capital markets and technology consulting, with a focus on fintech and blockchain. Since June 2021, he has been the Director of Investment Banking at JonesTrading, a U.S. brokerage firm, where he focuses emerging technology opportunities including digital assets. Mr.&#160;Streeter is also a director at Cultur3 Capital, an Approved Investment Manager, since 2021.In 2018, Mr.&#160;Streeter founded Van Bers Consulting in Tokyo Japan (subsequently moved to LA) to provide strategic growth consulting and a suite of supporting services to early to mid-stage technology startups in emerging growth industries with a specific focus on Asia. Prior to this, from 2008 to 2018, Mr.&#160;Streeter served multiple positions at CLSA, including Director of Japan and Asia Equity Sales, and was the specialist sales lead for CLSA&#8217;s Global Automation thematic product. During his decade-long tenure at CLSA, Mr.&#160;Streeter was responsible for a multi-year strategy to build CLSA&#8217;s nascent Japan research brand globally, which resulted in Mr.&#160;Streeter building robust networks in CLSA&#8217;s key markets of Tokyo, London and New York. During this period, Mr.&#160;Streeter served as lead account manager for numerous core CLSA global accounts, managing in excess of US$250&#160;billion in equity assets. Mr.&#160;Streeter received his BA in Political Science from Concordia University. We believe that Mr.&#160;Streeter is qualified to serve on our board of directors based on his equity and tech expertise. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Mr.&#160;Joseph Chow</font><font style="letter-spacing:0.2pt;"> serves as a member of our board of directors and has over two decades of experience in investment and legal practice, and has advised on a series of mergers and acquisitions, commercial transactions and intellectual property rights protection. Mr.&#160;Chow is also a seasoned investor with a portfolio that covers F&amp;B, media, entertainment, and technology industries. Since 2017, he has been the founder and partner at Wellington Legal, a full-service law firm in Hong Kong. During his tenure, Mr.&#160;Chow is responsible for capital market transactions including cross-border M&amp;A, corporate structuring, regulatory compliance, intellectual property rights and cross-border litigations. Mr.&#160;Chow represented numerous large state-owned and private corporations in the PRC and Hong Kong. Since 2013, Mr.&#160;Chow has served as an independent non-executive director of Integrated Waste Solutions Group Holding Limited, an integrated waste solutions provider listed on the Hong Kong stock exchange (Stock code: 0923). From 2007 to 2015, Mr.&#160;Chow was a partner at Maurice WM Lee Solicitors, a full-service Hong Kong Law firm. Mr.&#160;Chow is the honorary legal adviser to the Hong Kong Brand Development Council. Mr.&#160;Chow holds a bachelor&#8217;s degree from the City University of Hong Kong and a Post-Graduate Certificate in Laws from the University of Hong Kong and was admitted as a solicitor in 1999. We believe that Mr.&#160;Chow is qualified to serve on our board of directors based on his legal, business and investment expertise. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">Dr.&#160;Rolf Hoefer</font><font style="letter-spacing:0.2pt;"> serves as a member of our board of directors and is a subject matter expert in the blockchain and fintech sectors. Since 2021, he has been a director at Cultur3 Capital, an Approved Investment Manager. Since 2020, he has been the founder of Numomo, a creative NFT agency focused on collecting and exhibiting NFTs. From 2018 to 2019, Dr.&#160;Hoefer was the co-founder &amp; technical lead at Keyless, which offers a biometrics-enabled, privacy preserving Web3 protocol offering authentication and identity management in a decentralized and standardized manner using multi-party computation schemes. During his tenure, the valuation of Keyless reached US$10&#160;million, and Keyless has most recently raised a round of financing at a </font>
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          <font style="letter-spacing:0.2pt;">172</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">valuation of up to US$40&#160;million. Dr.&#160;Hoefer has been published, in academic journals like the well-known Academy of Management Review , and most recently co-authored a book called NFT Revolution in Sep 2021 and which sold over 60,000 copies in 2021. Dr.&#160;Hoefer has also co-authored and led a report focused on fintech and entrepreneurship, which was presented at the European Commission in 2013. Dr.&#160;Hoefer holds a PHD. in Management (Entrepreneurship) with a focus on token and blockchain-based systems. Dr.&#160;Hoefer also holds an MSc from INSEAD, and a BS and BA from University of Southern California. We believe that Dr.&#160;Hoefer is qualified to serve on our board of directors based on his fintech and blockchain expertise. </font>
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          <font style="letter-spacing:-0.2pt;">Audit Committee</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our Audit Committee has been established in accordance with Section&#160;3(a)(58)(A) of the Exchange Act and consists of Messrs. Mark Streeter, Joseph Chow and Dr.&#160;Rolf Hoefer, each of whom is an independent director and is &#8220;financially literate&#8221; as defined under the Nasdaq listing standards. Joseph Chow serves as chairman of the Audit Committee. Our Board has determined that Joseph Chow qualifies as an &#8220;audit committee financial expert,&#8221; as defined under rules and regulations of the SEC. </font>
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          <font style="letter-spacing:0.2pt;">The audit committee&#8217;s duties, which are specified in our Audit Committee Charter, include, but are not limited to: </font>
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          <font style="letter-spacing:0.2pt;">the appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other registered public accounting firm engaged by us; </font>
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          <font style="letter-spacing:0.2pt;">pre-approving all audit and permitted non-audit services to be provided by the independent auditors and any other registered public accounting firm engaged by us, and establishing pre-approval policies and procedures; </font>
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          <font style="letter-spacing:0.2pt;">reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence; </font>
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          <font style="letter-spacing:0.2pt;">setting clear hiring policies for employees or former employees of the independent auditors; </font>
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          <font style="letter-spacing:0.2pt;">setting clear policies for audit partner rotation in compliance with applicable laws and regulations; </font>
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          <font style="letter-spacing:0.2pt;">obtaining and reviewing a report, at least annually, from the independent registered public accounting firm describing (i)&#160;the independent auditor&#8217;s internal quality-control procedures and (ii)&#160;any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities, within, the preceding five&#160;years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; </font>
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          <font style="letter-spacing:0.2pt;">reviewing and approving any related party transaction required to be disclosed pursuant to Item&#160;404 of Regulation&#160;S-K promulgated by the SEC prior to us entering into such transaction; and </font>
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          <font style="letter-spacing:0.2pt;">reviewing with management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. </font>
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          <font style="letter-spacing:-0.2pt;">Compensation Committee</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our Compensation Committee consists of Messrs. Mark Streeter, Joseph Chow and Dr.&#160;Rolf Hoefer, each of whom is an independent director. Joseph Chow serves as chairman of the Compensation Committee. Pursuant to our Compensation Committee charter, the functions of the Compensation Committee include, but are not limited to: </font>
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          <font style="letter-spacing:0.2pt;">reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer&#8217;s compensation, evaluating our Chief Executive Officer&#8217;s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer based on such evaluation; </font>
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          <font style="letter-spacing:0.2pt;">173</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">reviewing and approving on an annual basis the compensation of all of our other officers; </font>
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          <font style="letter-spacing:0.2pt;">reviewing on an annual basis our executive compensation policies and plans; </font>
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          <font style="letter-spacing:0.2pt;">implementing and administering our incentive compensation equity-based remuneration plans; </font>
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          <font style="letter-spacing:0.2pt;">assisting management in complying with our proxy statement/prospectus and annual report disclosure requirements; </font>
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          <font style="letter-spacing:0.2pt;">approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">producing a report on executive compensation to be included in our annual proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus; and </font></div>
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          <font style="letter-spacing:0.2pt;">reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors. </font>
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          <font style="letter-spacing:0.2pt;">The charter provides that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required by Nasdaq and the SEC. </font>
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          <font style="letter-spacing:-0.2pt;">Nominating Committee</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our Nominating Committee consists of Messrs. Mark Streeter, Joseph Chow and Dr.&#160;Rolf Hoefer, each of whom is an independent director under Nasdaq&#8217;s listing standards. Joseph Chow serves as chairman of the nominating committee. The nominating committee is responsible for overseeing the selection of persons to be nominated to serve on our board of directors. The nominating committee considers persons identified by its members, management, shareholders, investment bankers and others. </font>
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          <font style="letter-spacing:0.2pt;">The guidelines for selecting nominees, which are specified in BSGA&#8217;s Nominating Committee Charter, generally provide that persons to be nominated: </font>
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          <font style="letter-spacing:0.2pt;">should have demonstrated notable or significant achievements in business, education or public service; </font>
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          <font style="letter-spacing:0.2pt;">should possess the requisite intelligence, education and experience to make a significant contribution to the board of directors and bring a range of skills, diverse perspectives and backgrounds to its deliberations; and </font>
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          <font style="letter-spacing:0.2pt;">should have the highest ethical standards, a strong sense of professionalism and intense dedication to serving the interests of the shareholders. </font>
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          <font style="letter-spacing:0.2pt;">The nominating committee will consider a number of qualifications relating to management and leadership experience, background and integrity and professionalism in evaluating a person&#8217;s candidacy for membership on the board of directors. The nominating committee may require certain skills or attributes, such as financial or accounting experience, to meet specific board needs that arise from time to time and will also consider the overall experience and makeup of its members to obtain a broad and diverse mix of board members. The nominating committee does not distinguish among nominees recommended by shareholders and other persons. </font>
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          <font style="letter-spacing:-0.2pt;">Compensation Committee Interlocks and Insider Participation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">None of our officers currently serves, and in the past year has not served, (i)&#160;as a member of the compensation committee or Board of Directors of another entity, one of whose executive officers served on our compensation committee, or (ii)&#160;as a member of the compensation committee of another entity, one of whose executive officers served on our Board of Directors. </font>
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          <font style="letter-spacing:-0.2pt;">Code of Ethics</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We have adopted a Code of Ethics applicable to our directors, officers and employees. We have filed a copy of our form of Code of Ethics and our audit committee charter as exhibits to our registration statement </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">174</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">on Form S-1. You will be able to review these documents by accessing our public filings at the SEC&#8217;s website at www.sec.gov. In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. See &#8220;Where You Can Find Additional Information.&#8221; </font>
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          <font style="letter-spacing:-0.2pt;">Conflicts of Interest</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Under British Virgin Islands law, directors and officers owe the following fiduciary duties: </font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">should have demonstrated notable or significant achievements in business, education or public service; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; </font>
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          <font style="letter-spacing:0.2pt;">directors should not improperly fetter the exercise of future discretion; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">duty to exercise powers fairly as between different classes of shareholders; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">duty to exercise independent judgment. </font>
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          <font style="letter-spacing:0.2pt;">In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience which that director has. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit as a result of their position. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted in the amended and restated memorandum and articles of association or alternatively by shareholder approval at general meetings. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each of our directors and officers presently has, and in the future any of our directors and our officers may have additional, fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties under British Virgin Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the opportunity. Our amended and restated memorandum and articles of association provide that, subject to his or her fiduciary duties under British Virgin Islands law, we renounce our interest in any corporate opportunity offered to any officer or director unless such opportunity is expressly offered to such person solely in his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue. We do not believe, however, that any fiduciary duties or contractual obligations of our directors or officers would materially undermine our ability to complete our business combination. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our Sponsor, officers and directors may become officers or directors of other special purpose acquisition companies. Notwithstanding that, such officers and directors will continue to have a pre-existing fiduciary obligation to us and we will, therefore, have priority over any special purpose acquisition companies they subsequently join. Potential investors should also be aware of the following other potential conflicts of interest: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">None of our officers or directors is required to commit his or her full time to our affairs and, accordingly, may have conflicts of interest in allocating his or her time among various business activities. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">175</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">In the course of their other business activities, our officers and directors may become aware of investment and business opportunities which may be appropriate for presentation to us as well as the other entities with which they are affiliated. Our management may have conflicts of interest in determining to which entity a particular business opportunity should be presented. For a complete description of our management&#8217;s other affiliations, see &#8220;&#8212; Directors and Officers.&#8221; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Our Sponsor, officers and directors have agreed to waive their redemption rights with respect to our Founder Shares and public shares in connection with the consummation of our initial business combination. Additionally, our Sponsor, officers and directors have agreed to waive their redemption rights with respect to their Founder Shares if we fail to consummate our initial business combination within 12&#160;months after the closing of this offering (or up to 18&#160;months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time). If we do not complete our initial business combination within such applicable time period, the proceeds of the sale of the private placement&#160;units held in the trust account will be used to fund the redemption of our public shares and rights will expire worthless. With certain limited exceptions, the Founder Shares will not be transferable, assignable or salable by our Sponsor until the earlier of (1)&#160;six&#160;months after the completion of our initial business combination and (2)&#160;the date on which we consummate a liquidation, merger, share exchange, reorganization, or other similar transaction after our initial business combination that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of our Class&#160;A ordinary shares equals or exceeds US$12.00 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after our initial business combination, the Founder Shares will be released from the lock-up. With certain limited exceptions, the private placement&#160;units, private placement shares, private placement rights and the Class&#160;A ordinary shares underlying such rights will not be transferable, assignable or salable by our Sponsor until 30&#160;days after the completion of our initial business combination. Since our Sponsor and officers and directors may directly or indirectly own ordinary shares and rights following this offering, our officers and directors may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Given the difference between (i)&#160;the purchase price that the Sponsor paid for the Founder Shares, and (ii)&#160;the price of the Public Shares, and considering the substantial number of BTG Class&#160;A Ordinary Shares that the Sponsor will receive upon conversion of the Founder Shares, the Sponsor can earn a positive return on their investment, even if other BSGA shareholders have a negative return on their investment in BTG. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Our officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our initial business combination. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The conflicts described above may not be resolved in our favor. In addition, our Sponsor, officers and directors have certain interests in the Business Combination, which may create actual or potential conflicts of interest, and these interests are, to the extent material, described in the section entitled &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Interests of BSGA Directors and Officers in the Business Combination.&#8221; The foregoing interests present a risk that the Sponsor, BSGA&#8217;s officers and directors, and their affiliates will benefit from the completion of a business combination, including in a manner that may not be aligned with the Public Shareholders. As such, the Sponsor and BSGA&#8217;s officers and directors may be incentivized to complete a business combination with a less favorable target company or on terms less favorable to Public Shareholders rather than to liquidate. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Accordingly, if any of the above officers or directors become aware of a business combination opportunity which is suitable for any of the above entities to which he or she has then-current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such entity, and only present it to us if such entity rejects the opportunity, subject to his or her fiduciary duties under British Virgin Islands law. We do not believe, however, that any of the foregoing fiduciary duties or contractual obligations will materially affect our ability to complete our initial business combination, because the specific industry focuses of a majority of these entities differ from </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">176</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:124pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">our focus on consumer/lifestyle businesses and the type or size of the transaction that such companies would most likely consider are of a size and nature substantially different than what we are targeting. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We are not prohibited from pursuing an initial business combination with a company that is affiliated with our Sponsor, officers or directors. In the event we seek to complete our initial business combination with such a company, we, or a committee of independent directors, would obtain an opinion from an independent investment banking firm or another independent firm that commonly renders valuation opinions for the type of company we are seeking to acquire or an independent accounting firm, that such an initial business combination is fair to our company from a financial point of view. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In the event that we submit our initial business combination to our public shareholders for a vote, our Sponsor, officers and directors have agreed, pursuant to the terms of a letter agreement entered into with us, to vote any Founder Shares held by them (and their permitted transferees will agree) and any public shares purchased during or after the offering in favor of our initial business combination. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Limitation on Liability and Indemnification of Officers and Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BVI law does not limit the extent to which a company&#8217;s articles of association may provide for indemnification of officers and directors, except to the extent any provision providing indemnification may be held by the BVI courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Under our memorandum and articles of association, we indemnify against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings for any person who: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">is or was a party or is threatened to be made a party to any threatened, pending or completed proceedings, whether civil, criminal, administrative or investigative, by reason of the fact that the person is or was our director; or </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">is or was, at our request, serving as a director or officer of, or in any other capacity is or was acting for, another body corporate or a partnership, joint venture, trust or other enterprises. </font>
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          <font style="letter-spacing:0.2pt;">These indemnities only apply if the person acted honestly and in good faith with a view to our best interests and, in the case of criminal proceedings, the person had no reasonable cause to believe that his conduct was unlawful. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been advised that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Employment Agreements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA has not entered into any employment agreements with its executive officers, and has not made any agreements to provide benefits upon termination of employment. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">177</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBMDA">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA&#8217;S MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We are a blank check company incorporated in the British Virgin Islands as a business company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. We intend to effectuate our initial business combination using cash from the proceeds of this offering and the private placement of the private placement&#160;units, the proceeds of the sale of our securities in connection with our initial business combination, our shares, debt or a combination of cash, stock and debt. </font>
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          <font style="letter-spacing:0.2pt;">We expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful. Unless otherwise stated or unless the context otherwise requires, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;our company,&#8221; and &#8220;BSGA&#8221; refer to Blue Safari Group Acquisition Corp. </font>
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          <font style="letter-spacing:-0.2pt;">Results of Operations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We have neither engaged in any operations nor generated any operating revenue to date. Our only activities from inception through March 31, 2022 were organizational activities and those necessary to prepare for the Initial Public Offering, and, following our initial public offering, identifying a target business with which to engage in a Business Combination. We do not expect to generate any operating revenue until after the completion of our initial Business Combination. We expect to generate non-operating income in the form of interest income on marketable securities held after the Initial Public Offering. We expect that we will incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with searching for, and completing, a Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">For the three months ended March 31, 2022, we had a net loss of US$2,076,990, which consists of formation and operation costs amounting to US$2,082,838, partially offset by the interest income earned on Trust and operating accounts amounting to US$5,848.</font>
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          <font style="letter-spacing:0.2pt;">For the period from February 23, 2021 (inception) to March 31, 2021, we had a net loss of US$8,010, which mainly was formation and operation costs.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For the period from February 23, 2021 (Inception) to December&#160;31, 2021, we had a net loss of US$1,239,720. We earned US$2,104 of interest income from investments in our Trust Account and incurred US$1,241,824 of formation and operating costs. </font>
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          <font style="letter-spacing:-0.2pt;">Liquidity and Capital Resources</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On June&#160;9, 2021, we consummated the IPO of 5,000,000&#160;BSGA Units. Each BSGA Unit consists of one BSGA Ordinary Share and one BSGA Right to receive one-tenth of one Ordinary Share upon the consummation of an initial business combination. The BSGA Units were sold at an offering price of US$10.00 per Unit, generating gross proceeds of US$50,000,000. We granted the underwriters a 45-day option to purchase up to 750,000 additional BSGA Units to cover over-allotments, if any, which the underwriters exercised in full simultaneously with the consummation of the IPO. The total aggregate issuance by us of 5,750,000&#160;units at a price of US$10.00 per unit resulted in a total gross proceeds of US$57,500,000. </font>
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          <font style="letter-spacing:0.2pt;">As of June&#160;9, 2021, a total of US$58,075,000 of the net proceeds from the IPO and the Private Placement (as defined below) were deposited in a trust account established for the benefit of BSGA&#8217;s public shareholders. Simultaneously with the closing of the IPO, we consummated the private placement (&#8220;Private Placement&#8221;) with BSG First Euro Investment Corp., our Sponsor, of 292,500&#160;units (the &#8220;Private Units&#8221;) at a price of US$10.00 per Private Unit, generating total proceeds of US$2,925,000. The Private Units are identical to the Units sold in the IPO. Additionally, such initial purchasers agreed not to transfer, assign or sell any of the Private Units or underlying securities (except in limited circumstances, as described in the Registration </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Statement) until 30&#160;days after the completion of BSGA&#8217;s initial business combination. Such initial purchasers were granted certain demand and piggyback registration rights in connection with the purchase of the Private Units. The Private Units were issued pursuant to Section&#160;4(a)(2) of the Securities Act of 1933, as amended, as the transactions did not involve a public offering. </font>
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          <font style="letter-spacing:0.2pt;">Following the IPO and the sale of the Private Units, a total of US$58,075,000 was placed in the Trust Account, and we had US$884,500 of cash held outside of the Trust Account, after payment of costs related to the Initial Public Offering, and available for working capital purposes. We incurred US$4,158,799 in transaction costs, including US$1,150,000 of underwriting fees, US$2,012,500 of deferred underwriting fees, the fair value of the representative shares of US$478,857, and US$517,442 of other offering costs. </font>
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          <font style="letter-spacing:0.2pt;">For the three months ended March 31, 2022, there was US$132,656 of cash used in operating activities. Net loss of US$2,076,990 was offset by changes in current assets and liabilities of US$1,950,182 and interest earned on cash and marketable securities held in Trust Account amounting to US$5,848.</font>
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          <font style="letter-spacing:0.2pt;">For the Period from February 23, 2021 (Inception) to March 31, 2021, there was US$0 of cash used in operating activities. Net loss of US$8,010 was offset by changes in current assets and liabilities of US$8,010.</font>
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          <font style="letter-spacing:0.2pt;">For the period from February 23, 2021 (Inception) to December 31, 2021, there was US$398,627 of cash used in operating activities. Net loss of US$1,239,720 was resulting from formation costs paid by the Sponsor of US$7,169, changes in current assets and liabilities of US$836,028, offset by interest earned on cash and marketable securities held in Trust Account amounting to US$2,104. </font>
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          <font style="letter-spacing:0.2pt;">We expect to incur increased expenses since becoming a public company (for legal, financial reporting, accounting and auditing compliance), as well as expenses in connection with the initial business combination. </font>
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          <font style="letter-spacing:0.2pt;">We have until June 14, 2022 to consummate a business combination (or December 14, 2022 if we exercise the option to extend the date). It is uncertain that we will be able consummate a business combination by either date. If a business combination is not consummated by the required dates, there will be a mandatory liquidation and subsequent dissolution. In connection with the Company&#8217;s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Update (&#8220;ASU&#8221;) 2014-15, &#8220;Disclosure of Uncertainties About an Entity&#8217;s Ability to Continue as a Going Concern&#8221;, management has determined that mandatory liquidation, and subsequent dissolution, should the Company be unable to complete a business combination, raises substantial doubt about the Company&#8217;s ability to continue as a going concern. If a business combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after June 14, 2022 (or December 14, 2022 if extended). </font>
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          <font style="letter-spacing:0.2pt;">Based upon the above analysis, management determined that these conditions raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year after the date the financial statements are issued.</font>
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          <font style="letter-spacing:-0.2pt;">Off-Balance Sheet Financing Arrangements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2022. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets. </font>
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          <font style="letter-spacing:-0.2pt;">Contractual Obligations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities other than an agreement to pay our Sponsor a monthly fee of US$10,000 for office space, utilities and secretarial and administrative support. We began incurring these fees on June 14, 2021 and will continue to incur these fees monthly until the earlier of the completion of the Business Combination and our liquidation. </font>
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          <font style="letter-spacing:0.2pt;">The underwriters are entitled to a deferred fee of 3.5% of the gross proceeds of the Initial Public Offering, or US$2,012,500. The deferred fee will be payable in cash to the underwriters solely in the event that we complete a Business Combination from the amounts held in the Trust Account, subject to the terms of the underwriting agreement. </font>
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          <font style="letter-spacing:-0.2pt;">Critical Accounting Policies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Management&#8217;s discussion and analysis of our results of operations and liquidity and capital resources are based on our audited financial information. We describe our significant accounting policies in Note 2 - Summary of Significant Accounting Policies, of the Notes to our consolidated financial statements for the three months ended March 31, 2022 and for the period from February 23, 2021 (inception) to December 31, 2021 included in this proxy statement/prospectus. Our consolidated financial statements have been prepared in accordance with U.S. GAAP. Certain of our accounting policies require that management apply significant judgments in defining the appropriate assumptions integral to financial estimates. Our management reviews the accounting policies, assumptions, estimates and judgments on an ongoing basis to ensure that our consolidated financial statements are presented fairly and in accordance with U.S. GAAP. Judgments are based on historical experience, terms of existing contracts, industry trends and information available from outside sources, as appropriate. However, by their nature, judgments are subject to an inherent degree of uncertainty, and, therefore, actual results could differ from our estimates. </font>
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          <font style="letter-spacing:-0.2pt;">JOBS Act</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Jumpstart Our Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;) contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We qualify as an &#8220;emerging growth company&#8221; and under the JOBS Act are allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, our consolidated financial statements included in this proxy statement/prospectus may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Additionally, we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth in the JOBS Act, if, as an &#8220;emerging growth company,&#8221; we choose to rely on such exemptions we may not be required to, among other things, (i) provide an auditor&#8217;s attestation report on our system of internal controls over financial reporting pursuant to Section 404,(ii) provide all of the compensation disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor&#8217;s report providing additional information about the audit and the consolidated financial statements (auditor discussion and analysis) and (iv) disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the chief executive officer&#8217;s compensation to median employee compensation. These exemptions will apply for a period of five years following the completion of our Initial Public Offering or until we are no longer an &#8220;emerging growth company,&#8221; whichever is earlier.</font>
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          <font style="letter-spacing:-0.2pt;">INFORMATION RELATED TO BITDEER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Unless the context otherwise requires, all references in this section to the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;us&#8221;, &#8220;our&#8221; or &#8220;Bitdeer&#8221; refer collectively to Bitdeer Technologies Holding Company and its direct and indirect subsidiaries prior to the consummation of the Business Combination.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Bitdeer is a world-leading technology company for the cryptocurrency mining community. As of December 31, 2021, we were the world&#8217;s second largest holder of proprietary hash rate, which is defined as hash rate generated from proprietary mining machines; by allocating part of our proprietary hash rate for sale, we were the world&#8217;s largest supplier of hash rate, as measured by hash rate for sale in the cloud hash rate sharing market, which is defined as a market where players sell part of their hash rate to customers, according to Frost &amp; Sullivan. </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
            <font style="letter-spacing:0.2pt;">We mine cryptocurrencies for our own account and serve the cryptocurrency mining community by providing innovative, reliable and easy-to-use cryptocurrency mining solutions. Headquartered in Singapore, we currently operate five proprietary mining datacenters in the United States and Norway with an aggregate electricity capacity of 402MW as of December 31, 2021, which we expect to increase to 974MW by the end of 2022 by expanding our footprints to six mining datacenters globally. From these mining datacenters, we generate managing hash rate which is categorized into proprietary and hosting hash rate. As of December 31, 2021, our proprietary hash rate reached 4.2 EH/s and accounted for 2.5% of the total Bitcoin network hash rate, making us the second largest holder of proprietary hash rate across the globe, according to Frost &amp; Sullivan. Together with the 3.9 EH/s hosting hash rate generated from mining machines hosted in our mining datacenters, we possessed a total of 8.1 EH/s of managing hash rate as of December 31, 2021, accounting for approximately 4.9% of the total Bitcoin network hash rate. </font>
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            <font style="letter-spacing:0.2pt;">To date, we primarily operate three business lines&#8201;&#8212;&#8201;&#8220;proprietary mining,&#8221; &#8220;hash rate sharing&#8221; and &#8220;hosting.&#8221; Proprietary mining refers to cryptocurrency mining for our own account, which allows us to directly capture the high appreciation potential of cryptocurrency. We offer two types of hash rate sharing solutions, </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">. Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, we sell our proprietary hash rate to customers. We offer hash rate subscription plans at fixed price and share mining income with them under certain arrangements. As of December 31, 2021, our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business achieved a market share of 42.9% as measured by hash rate for sale in the cloud hash rate sharing market, according to Frost &amp; Sullivan. Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">, we connect reliable third-party hash rate suppliers with hash rate users to facilitate hash rate sales and generate revenue from charging service fees. Our hosting services offer customers one-stop mining machine hosting solutions encompassing deployment, maintenance and management services for efficient cryptocurrency mining. Among a wide selection of hosting services, customers can either subscribe to our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> service for the specified mining machines from which they derive computing power under a &#8220;group-buying&#8221; model, or send their mining machines to our mining datacenters for hosting under the </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> option or the </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting </font><font style="letter-spacing:0.2pt;">option. Historically, our hosting hash rate were generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;">. All of our three business lines are supported by </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">, our self-developed integrated intelligent software platform, which offers software support to significantly reduce time needed for daily maintenance and mining machine upgrade and substantially decrease operation and maintenance headcount. </font>
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          <font style="letter-spacing:0.2pt;">We source mining machines from a wide variety of manufacturers and traders with whom we have built robust relationships over the&#160;years. As a result, the majority of our mining machines are spot machines for the most recent and most commonly used models procured at a favorable price, which ensures high energy efficiency and stable hash rate supply both in quality and in quantum. We also engage in the sales of mining machines from time to time. We stay at the forefront of technology development. As a market player who is able to obtain a hash rate unit of 1TH/s through our hash rate slicing technology, we have been successfully maintaining a less than 5% fluctuation for 98% of our hash rate sales contracts. </font>
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            <font style="letter-spacing:0.2pt;">We have achieved significant operational and financial results in recent periods. As of December 31, 2021, we generated 4.2EH/s proprietary hash rate from our proprietary mining machines and operated mining datacenters with an aggregate electricity capacity of 402MW. Our revenue increased by 110.0% from US$88.8&#160;million for the year ended December 31, 2019 to US$186.4 million for the year ended December 31, </font>
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          <font style="letter-spacing:0.2pt;">2020, and further increased by 111.7% to US$394.7 million for the year ended December 31, 2021. We incurred net loss of US$27.9 million and US$55.8 million for the years ended December 31, 2019 and 2020, respectively, and generated net profit of US$82.6 million for the year ended December 31, 2021. Our adjusted EBITDA increased by 195.2% from US$16.5 million for the year ended December 31, 2019 to US$48.7 million for the year ended December 31, 2020, and further increased by 479.2% to US$281.8 million for the year ended December 31, 2021.</font>
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          <font style="letter-spacing:-0.2pt;">Our Strengths</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We believe that the following strengths contribute to our success and differentiate us from our competitors. </font>
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          <font style="letter-spacing:-0.2pt;">World&#8217;s leading scale of proprietary hash rate</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">We are the second largest holder of proprietary hash rate for Bitcoin across the globe, according to Frost&#160;&amp; Sullivan. As of December 31, 2021, our proprietary hash rate operated in our global mining datacenters reached 4.2 EH/s and accounted for 2.5% of the total Bitcoin network hash rate. Our proprietary hash rate provides us with a clear edge across our business lines and anchors our unique business model. High proprietary hash rate increases our chance of success in obtaining cryptocurrency rewards. It also allows a stable supply of hash rate products to our customers through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. As a result, we achieved a market share of 42.9% in the cloud hash rate sharing market as measured by hash rate for sale as of December 31, 2021, according to Frost &amp; Sullivan. Leveraging our track record of operating the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business, we boosted user confidence in our brand and was able to launch </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> as our hash rate retail platform in the first half of 2021. In addition to proprietary hash rate, we also generate hosting hash rate, the other category of our total managing hash&#160;rate, from mining machines that are hosted in our mining datacenters. Together with the 3.9 EH/s hosting hash rate, we managed a total of 8.1 EH/s hash rate as of December 31, 2021. As of December 31, 2021, we operated five proprietary mining datacenters in the United States and Norway to support our proprietary and hosting hash rate. </font>
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          <font style="letter-spacing:-0.2pt;">Unique business model powers organic hash rate expansion by generating instant and continuous cash</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We have established a business model that allows us to constantly reinforce our market-leading position and outpace our competitors in terms of scaling up our proprietary hash rate. A prevailing strategy to profit from proprietary hash rate is mining. The cryptocurrencies mined can be sold at a profit when their market value is high enough to cover the cost of mining machines, electricity fees and other mining-related expenses. While we remain engaged in proprietary mining business to capture the high appreciation potential of cryptocurrency, we strategically allocate a significant amount of proprietary hash rate to hash rate sales through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, to enable instant cash pay-back upon customers&#8217; subscription to our hash rate plans. We have successfully boosted sales for hash rate, in particular, for long-term hash rate subscription plans (i.e., plans with a term longer than 720&#160;days) by providing an increasing amount of reliable and transparent hash rate supply</font><font style="font-style:italic;letter-spacing:0.2pt;">.</font><font style="letter-spacing:0.2pt;"> We generally generate proceeds from hash rate sales under long-term hash rate subscription plans that approximate the purchase cost of mining machines. Therefore, we are able to continuously grow our proprietary hash rate by funding the purchase of additional mining fleets with the instant cash collected from hash rate sales using our existing mining fleets, significantly reducing our pay-back period to one month, compared to the long pay-back period associated with cryptocurrency mining activities, which is typically from 6 to 18&#160;months, according to Frost &amp; Sullivan. This unique model also allows us to smooth the impact of cryptocurrency price volatility as our proceeds from hash rate sales are less directly related to cryptocurrency price compared to proprietary mining. </font>
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          <font style="letter-spacing:-0.2pt;">Ample power supply and low electricity cost secured by global mining datacenters</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We strategically opened five mining datacenters in the United States and Norway, where low electricity cost and crypto-friendly policies support stable operations. As of December 31, 2021, our mining datacenters had a power supply of 402MW. We plan to expand our footprints to six mining datacenters across the globe to increase our total electricity capacity to approximately 1,736MW, including 572MW power supply under construction and 762MW power supply &#8220;in the pipeline,&#8221; including 400MW power supply contracted but not yet under active construction and the rest under active negotiation. Our premier mining datacenters allowed </font>
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          <font style="letter-spacing:0.2pt;">us to successfully lower the average electricity cost of our mining datacenters to US$40/MWh for the year ended 2021, which was significantly below the estimated global average of US$49/MWh during the same period, according to Frost &amp; Sullivan. Our ability to secure ample power supply with low electricity cost is underpinned by our top-notch experience and capabilities in global mining datacenters deployment and operation. We pioneer in deploying and operating mining datacenters globally. With experience in site selection, facility design, construction and maintenance in over 30 locations around the globe, our dedicated global team for mining datacenter construction understands the critical needs of Bitcoin mining as well as the complex and constantly evolving global landscape of electricity supply. They also have extensive connections with local electricity experts and power enterprises around the world. We are the first in the industry to develop the &#8220;PERT&#8221; approach to secure prime locations for our mining datacenters, which stands for a comprehensive site selection approach encompassing local electricity and cryptocurrency mining </font><font style="font-weight:bold;letter-spacing:-0.2pt;">P</font><font style="letter-spacing:0.2pt;">olicy, </font><font style="font-weight:bold;letter-spacing:-0.2pt;">E</font><font style="letter-spacing:0.2pt;">lectricity cost, </font><font style="font-weight:bold;letter-spacing:-0.2pt;">R</font><font style="letter-spacing:0.2pt;">esources and connections, and </font><font style="font-weight:bold;letter-spacing:-0.2pt;">T</font><font style="letter-spacing:0.2pt;">echnical feasibility. We believe we can continue to apply this systematic approach, our insights and rich execution experience to global mining datacenter construction in the future, and hence achieve advantages in electricity capacity and electricity costs among our competitors. </font>
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          <font style="letter-spacing:-0.2pt;">Visionary management team with a proven track record of innovation and execution</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our success is driven by a passionate, visionary, tech-savvy and entrepreneurial management team with a proven execution track record. This management team is led by our founder, Mr.&#160;Jihan Wu, a pioneer and leading figure in the cryptocurrency industry. Mr.&#160;Wu is viewed as an early advocate of cryptocurrency who introduced the Bitcoin Whitepaper into the Sinophone world. Our management team has extensive experience in the cryptocurrency industry, encompassing research and development, mining and sales of mining machines, and many of them are pioneers in mining datacenters construction and operation. </font>
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          <font style="letter-spacing:-0.2pt;">Our Growth Strategies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We intend to focus on the following key strategies to grow our business. </font>
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          <font style="letter-spacing:-0.2pt;">Build a hash rate retail platform to facilitate the growth of the mining community</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We believe that we have been and will continue to be a major contributor to the crypto-economy, with our vision to build a one-stop hash rate retail platform for the mining community. Since our inception, by delivering high quality and reliable hash rate, we boost consumer confidence and stimulate demand for hash rate without heavily relying on marketing campaigns. We have seen growth in hash rate sales as a result of our efforts. </font>
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          <font style="letter-spacing:0.2pt;">As we increase our scale of operations and generate more hash rate over time, we have rolled out multiple product offerings, based on which we aim to create a hash rate retail platform that is uniquely positioned to serve both hash rate users and suppliers. Not only are we the largest supplier of hash rate ourselves as of December 31, 2021, as measured by hash rate for sale in the cloud hash rate sharing market, according to Frost &amp; Sullivan, we proactively partner with third-party hash rate suppliers, some of which are customers of our hosting services. Abundant supply of hash rate attracts and retains hash rate users to our </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace.</font><font style="letter-spacing:0.2pt;"> By building this retail platform, we aim to establish a cryptocurrency mining community that is centered around and reinforced by our operations, where hash rate users and suppliers get to continually empower each other. We aim to deliver diverse, quality and transparent hash rate products that lower the entry barrier of cryptocurrency mining as well as hash rate supply. We believe that the mining community surrounding us will grow and prosper as a result, and that we will significantly benefit from being at the core of this mining community. </font>
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          <font style="letter-spacing:-0.2pt;">Continue to scale up our mining datacenters</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We believe mining datacenter capacity is critical to growing our proprietary hash rate and building the infrastructure needed to support our booming hosting business. We currently operate five mining datacenters in the United States and Norway, and plan to continue to scale up our mining datacenters across the globe, by expanding existing mining datacenters and constructing new ones. To this end, we are actively strategizing our mining datacenter expansion and are paying special attention to North American, North Europe, Central Asia and Southeast Asia, where we have the most connections and experience with. We are also exploring </font>
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          <font style="letter-spacing:0.2pt;">innovative partnership models, including joint venture, to better work with our local partners and scale up our mining datacenters in a more efficient manner. </font>
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          <font style="letter-spacing:-0.2pt;">Continue to enrich our product and services portfolio by supporting diversified crypto protocols</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">While our services primarily support PoW protocol currently, we intend to enrich our product and service portfolio by providing mining services covering new crypto protocols, including PoS, DPoS, PoST and PoC, and steadily increase the weight of new business to diversify revenue streams and attract new customers who are users of these new crypto protocols. </font>
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          <font style="letter-spacing:-0.2pt;">Improve our product and service quality through more powerful Minerplus support</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">While we have accumulated a large user base for </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">, our self-developed integrated intelligent software platform that significantly reduces time needed for daily maintenance and mining machine upgrade and substantially decreases operation and maintenance headcount, we intend to continuously upgrade </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> to provide more miners with professional and value-added support regarding real-time mining datacenter and mining machine monitoring, hash rate protection and virus detection and removal, etc., to boost mining efficiency. </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">&#8217;s hash rate monitoring function also enables us to keep track of the quality of third-party hash rate products on </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> and we can therefore ensure hash rate suppliers admitted to </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> are able to provide hash rate products that meet our quality standard</font><font style="font-style:italic;letter-spacing:0.2pt;">.</font><font style="letter-spacing:0.2pt;"> With access to a larger amount of data generated from mining activities through </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">, we expect to gain a better understanding of the quality of power supply in different mining sites as well as the demands and pain points of miners. We intend to create data-driven synergies including discovering prime mining site locations, determining the metrics of diverse hash rate products that cater to hash rate users&#8217; needs as well as offering more advanced mining machine deployment and operation solutions. </font>
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          <font style="letter-spacing:-0.2pt;">Our Business Lines and Software Infrastructure</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">To date, we primarily operate three business lines&#8201;&#8212;&#8201;&#8220;proprietary mining,&#8221; &#8220;hash rate sharing&#8221; and &#8220;hosting,&#8221; all of which are supported by </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">, our self-developed integrated intelligent software platform, to enhance operational efficiency. </font>
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          <font style="letter-spacing:-0.2pt;">Proprietary mining</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We mine cryptocurrencies, primarily Bitcoins, for our own account. Proprietary mining allows us to capture the high appreciation potential of cryptocurrency to support our future expansion and operation. For the&#160;years ended December&#160;31, 2019, 2020 and 2021, respectively, we generated US$37.5&#160;million, US$88.5&#160;million and US$191.7&#160;million in revenue from proprietary mining. Historically, approximately 50% of our proprietary hash rate was utilized to support our proprietary mining, with the rest available for sale to customers through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. However, we retain the flexibility to allocate our proprietary hash rate to either proprietary mining or </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, primarily based on our view of the Bitcoin market trends. </font>
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          <font style="letter-spacing:-0.2pt;">Hash rate sharing</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We offer two types of hash rate sharing solutions, </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">, to support cryptocurrency mining activities globally with convenient, transparent and reliable hash rate. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Cloud Hash Rate.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, customers enter into hash rate contracts with us to subscribe to the hash rate derived from our proprietary mining machines, saving themselves from purchasing, installing or hosting mining machines. </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> features authentic and transparent hash rate products as users can track the hash rate output on their chosen third-party mining pool, easily ascertain that they receive the right value and receive payments directly from mining pools. With our hash rate slicing and hash rate scheduling technologies, we are able to maintain a less than 5% fluctuation for 98% of our hash rate contracts and provide our customers 100% continuous online computing power for series of cryptocurrencies, including Bitcoin, Filecoin, Litecoin, Nervos CKB, Zcash, etc., subject to stable electricity supply. We offer our customers various hash rate subscription plans, primarily under (i)&#160;&#8220;classic mode&#8221; and (ii)&#160;&#8220;accelerator mode&#8221;, which enables customers to shorten investment costs recovery cycle. After a user subscribes to a cloud hash rate plan, mining pool </font>
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          <font style="letter-spacing:0.2pt;">operators connect the cloud hash rate generated from our mining machines to blockchain network for a period specified in the cloud hash rate plan subscribed to and cryptocurrency rewards are delivered directly to the crypto wallet of the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> customer. For plans under &#8220;classic mode&#8221;, we generate revenue from fees paid to subscribe the hash rate as well as electricity, which maintains the mining machines that produce the subscribed hash rate. For hash rate subscription plans under &#8220;accelerator mode&#8221;, while customers enjoy lower hash rate subscription fees compared to &#8220;classic mode&#8221;, on top of the aforementioned hash rate and electricity subscription fees, we are also entitled to sharing part of the mining rewards net of the electricity cost the customer paid for once that customer&#8217;s investment cost is recovered, which is defined as the cumulative mining reward received from the mining pool equals the amount of hash rate subscription fees paid upfront and the electricity fee paid and used to date. This unique model of selling cloud hash rate allows us to smooth the impact of Bitcoin price volatility as our income from hash rate sales are less directly related to cryptocurrency price compared to proprietary mining. When Bitcoin price appreciates, we can capture part of the benefits as the demand of hash rate will be driven up; when Bitcoin price depreciates, we are still able to recover costs or generate revenue from hash rate sales. We use standard agreement with our customer for </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. For the&#160;years ended December&#160;31, 2019, 2020 and 2021, respectively, we generated US$43.5&#160;million, US$78.3&#160;million, US$124.2&#160;million in revenue from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;We connect supply of hash rate from mining machines owned by third parties, such as miners or mining datacenter owners, with our user base with hash rate demands, allowing such hash rate suppliers to access our large base of high-quality customers. With the newly rolled-out </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">, we offer a marketplace that is able to utilize excessive hash rate in the network and expand ways of monetization for third-party hash rate suppliers, accelerating their cash pay-back to support future expansion. For transactions completed on </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">, the third-party hash rate suppliers will be responsible for providing hash rate and post-sale services, pursuant to the negotiated terms between these third-party hash rate suppliers and customers, with which we have no involvement and we generate revenue by charging service fees. Revenue generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> was immaterial prior to December&#160;31, 2021. </font>
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          <font style="letter-spacing:-0.2pt;">Hosting</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We offer three types of hosting services, </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">, </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting</font><font style="letter-spacing:0.2pt;">, to meet customers&#8217; diverse demands for professional hosting solutions and lower the prohibitive upfront investment costs associated with mining datacenter construction, deployment and operation. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;We provide retail miner customers with one-stop mining machine hosting solutions, enabling them to gain access to stable supply of computing power from specified mining machines in a capital-light manner. Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting,</font><font style="letter-spacing:0.2pt;"> users participate in a customer group, pay an upfront fee for the computing power produced by the specified mining machines, and subscribe to the hosting service for the same mining machines. As such, customers may enjoy the computing power derived from specified mining machines over the life of such mining machines to generate cryptocurrency rewards. Traditionally, a miner has to purchase and physically possess a mining machine, deploy and operate it in a mining datacenter in order to gain access to all the computing power generated from that specified mining machine. </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> provides an innovative alternative by providing hosting service for the specified mining machines that produce computing power for the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> customers, saving the customers the need to pick up the mining machine, construct one&#8217;s own mining datacenter, and operate and deploy the mining machine. Specifically, we are responsible for the operation and maintenance of mining datacenter that hosts the mining machines, as well as mining machine operation, maintenance and repair. As such, we significantly lower the upfront investment and expertise threshold for retail miners, providing them with the same opportunity of cryptocurrency returns as major and sophisticated miners. We also provide complete set of cloud hosting technical solutions and resources to ensure operational efficiency. Our first-of-its-kind &#8220;group-buying&#8221; model allows retail miners to purchase the computing service from and maintenance service for as little as one mining machine, further lessening the upfront investment burden. Similar to the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> &#8220;accelerator mode&#8221; subscription plans, in 2021, we launched the &#8220;accelerated payback mode&#8221; for </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">, where customers can enjoy a favorable rate for the upfront fee compared to &#8220;classic mode&#8221; &#8203;(i.e., the traditional arrangement). Under the standard agreements with our customers for </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">, we </font>
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          <font style="letter-spacing:0.2pt;">185</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">charge customers an upfront fee so they can secure the procurement of computing power from the specified mining machines. We also charge a maintenance fee for our electricity supply, daily maintenance and repair care. We are entitled to a portion of the mining profit of an &#8220;accelerated payback mode&#8221; customer after the customer recovers the investment cost, which is defined as the mining reward earned from the mining pool equals the upfront fee paid and the maintenance fee and other fees incurred to date. For the years ended December 31, 2019, 2020 and 2021, the revenue generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> was nil, US$2.9 million and US$7.6 million, respectively. We did not generate any revenue from mining profit sharing from plans under </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">&#8217;s &#8220;accelerated payback mode&#8221; for the year ended December 31, 2021. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">General Hosting.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;We offer hosting solutions to professional miner customers who send their mining machines to our mining datacenters for hosting. Specifically, we provide server room, professional support from technical and managerial personnel, supporting power, network and security monitoring facilities, among others, and carry out routine maintenance, system configurations, troubleshooting and daily reporting to ensure a smooth operation of the hosted mining machines. At the customers&#8217; option, we also provide assistance for deployment, installation and removal of hosted mining machines and repairment of mining machines. Under the standard agreements with </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> customers, we charge monthly service fees, which include costs of operating and maintaining the mining machines, costs of electricity and other costs mainly related to mining machine deployment and repair. We generated no revenue prior to December 31, 2020 and US$18.3 million revenue for the year ended December 31, 2021 from </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Membership Hosting.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;We offer a membership program for large-scale miner customers who seek stable, long-term supply of hosting capacity and send their mining machines to our mining datacenters for hosting purpose. In addition to the hosting services we provide to customers under </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> mentioned above, customers of this membership program enjoy program benefits, including, among other things, (i) early, priority and exclusive access to the newly available hosting capacity that is sufficient for large-scale miners, upon a new mining datacenter becomes available and (ii) favorable pricing terms for our hosting services such as mining datacenter and mining machine operations and maintenance as well as mining machine deployment. We charge membership fees, and service fees, which include costs of operating and maintaining the mining machines, costs of electricity and other costs mainly related to mining machine deployment and repair. For our </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting </font><font style="letter-spacing:0.2pt;">contracts, payment terms are individually negotiated and may differ among customers. Through this membership program, we seek to facilitate risk control and stable hosting income from large-scale miner customers by providing them reliable and long-term hosting capacity. We also intend to leverage our </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting</font><font style="letter-spacing:0.2pt;"> to facilitate the growth of </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> as we encourage some of the </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting </font><font style="letter-spacing:0.2pt;">customers to become hash rate suppliers on our </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">. We generated no revenue from </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting </font><font style="letter-spacing:0.2pt;">prior to December&#160;31, 2021. </font>
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          <font style="letter-spacing:0.2pt;">The major differences between </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> are the source of mining machines, the intended customer base and the business model that we generate revenue from. </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> leverages mining machines from existing mining fleets owned by us and serves retail miner customers under a &#8220;group-buying&#8221; model, with an upfront fee charged at the commencement of the service and continuing maintenance fees charged throughout the whole service process. </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;">, just like other industry players, hosts mining machines received from professional miner customers that look to expand their mining operation in exchange for monthly hosting fees. We expect to continue offering existing </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> plans but no longer as our mainstream product. In the near future, we expect to focus on further expanding our </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> services by allocating a greater portion of our growing mining datacenter capacity to </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;">. We believe that focusing on </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> will enable us to maximize assets utilization with minimal capital expenditure for our growing mining datacenter capacity, maximize overall scale of hash rate supported by our software platform </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> which may lead to future business opportunities, and improve the operational efficiency by serving professional customers. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">&#8201;is our self-developed integrated intelligent software platform that offers software support to significantly reduce time needed for daily maintenance and mining machine upgrade and substantially decrease operation and maintenance headcount. The functions of </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> mainly encompasses real-time mining datacenter and hash rate monitoring as well as virus detection and removal. </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> enables intelligent </font>
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          <font style="letter-spacing:0.2pt;">186</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">management of our proprietary mining business and enhances product and service quality of </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> and our hosting services. We also provide standalone </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> service to third-party mining datacenters. </font>
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          <font style="letter-spacing:-0.2pt;">Our Cryptocurrencies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">Cryptocurrencies and Protocols Involved in Our Business</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">89.1%, 96.5% and 96.9% of our proprietary mining revenue for the years ended December&#160;31, 2019, 2020 and 2021 respectively were generated from Bitcoin mining. The remaining mining yield were generated from Zcash, Ethereum, Dogecoin, Litecoin and other cryptocurrencies that are less mainstream, as illustrated below: </font>
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                <font style="letter-spacing:-0.16pt;">Year ended</font>
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                <font style="letter-spacing:-0.16pt;">December&#160;31, 2019 </font>
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                <font style="letter-spacing:-0.16pt;">Year ended</font>
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                <font style="letter-spacing:-0.16pt;">December&#160;31, 2020 </font>
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                <font style="letter-spacing:-0.16pt;">Year ended</font>
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                <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
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                <font style="letter-spacing:-0.16pt;">USD&#8217;000 </font>
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                <font style="letter-spacing:-0.16pt;">USD&#8217;000 </font>
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                <font style="letter-spacing:-0.16pt;">USD&#8217;000 </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BTC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">33,371</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">89.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">85,355</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">96.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">185,656</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">96.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ZEC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">1,379</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">3.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">1,419</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">3,220</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ETH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">981</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">781</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">14</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">LTC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">642</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">252</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">597</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BCH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">480</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">204</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">180</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">DCR </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">357</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">153</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">54</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">DASH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">175</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">14</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ETC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">86</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">138</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">CKB </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">177</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">272</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">DOGE </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,239</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">XCH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">165</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">HNS </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">137</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">FIL </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">129</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">SC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">30</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:220.51pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Total</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">37,471</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">88,493</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">191,693</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">78.8%, 84.5% and 93.4% of our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> revenue for the years ended December&#160;31, 2019, 2020 and 2021 were generated from hash rate plans subscribed for Bitcoin mining. In the second half of 2021, we commenced mining operation on a proprietary basis for Filecoin, which adopted PoST protocol, and also offered computing power sharing solutions regarding Filecoin mining under our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business. While we intend to enrich our product and service portfolio by providing mining services covering new crypto protocols, including PoS, DPoS, PoST and PoC, we have not determined the type of cryptocurrency to expand our operations. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">187</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Policies and Procedures Related to Our Cryptocurrencies</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We obtain cryptocurrencies from proprietary mining and also generally accept cryptocurrencies as payment for services available to customers, such as </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate, Cloud Hosting</font><font style="letter-spacing:0.2pt;">, </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting</font><font style="letter-spacing:0.2pt;">. We generally do not hold cryptocurrencies obtained through business operation, including mining and otherwise, and promptly convert them into fiat currency. The cryptocurrencies held by us as of December&#160;31, 2019, 2020, and 2021 were US$1.1 million, US$9.6 million and US$6.2 million, respectively and accounted for 1.2%, 5.2% and 1.6% of our total revenue in the corresponding periods. The table below shows the type and amount of digital assets held as of the end of each reporting period: </font>
        </div>
        <table style="width:456pt;height:316pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:221.88pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:221.88pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">USD&#8217;000 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">USD&#8217;000 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">USD&#8217;000 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BTC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">907</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">83.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">6,536</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">68.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">692</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">11.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ETH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">54</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">5.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">452</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">4.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">13</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">USDT </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">16</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1,414</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">14.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">3,904</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">63.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BCH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">45</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">4.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">247</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">4</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">LTC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">29</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">292</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">3.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">5</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSV </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">29</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">194</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">137</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">2.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ZEC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">5</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">337</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">3.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">11</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">DASH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">26</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">DCR </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">DOGE </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">10</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ETC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">7</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">ETN </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">USDC </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">55</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">99</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">BCHA</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">25</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">CKB </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">9</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BTM </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0<font style="position:absolute;">*</font></td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">FIL </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1,257</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">20.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">XCH </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">37</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:221.88pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Total</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1,087</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">9,582</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">6,187</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.3pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Less than US$500 but not nil </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We generally use service provided by Matrix Finance and Technologies Holding Group and its subsidiaries (&#8220;Matrixport Group&#8221;) for cryptocurrencies custody purpose. Please refer to &#8220;&#8212; Our Cryptocurrencies Storage and Custodial Practices&#8221; below for more details on the related procedures in this regard. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Prior to June&#160;30, 2021, we did not leverage cryptocurrencies that we held, including Bitcoin, to generate additional income, through lending, hedging or otherwise, nor did we convert our fiat currencies into cryptocurrencies for the same purposes. In the second half of 2021, we explored new options, such as short-term cryptocurrency lending and purchase of short-term wealth management products using cryptocurrencies converted from our fiat currencies, in addition to direct deposits of fiat currencies at fixed rates, in order to optimize our cash management cycle and generate a higher return on cash not otherwise used in our operating activities. Specifically, during the second half of 2021, we lent 30&#160;million USDC, which we converted from our fiat currencies, to Matrixport Group at a fixed annual interest rate of 8.25% and received approximately US$0.7&#160;million interest income; we also converted our fiat currencies into 30&#160;million USDT and purchased a short-term wealth management product in the same amount from Matrixport Group. The wealth management product was an unsecured USDT fund offered by Matrixport Group at variable rates of return, and we received approximately US$0.7&#160;million investment income from such product in the second </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">188</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">half of 2021. Both the loan and the wealth management product were fully redeemed and collected by the end of 2021. In addition, because we generally do not hold cryptocurrencies, while the incomes we received were initially in cryptocurrencies, they were promptly converted into fiat currencies following receipt. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We are open to more options to generate additional income by leveraging our cryptocurrencies and fiat currencies in the future; however, we prioritize our operating activities in terms of cash usage and will ensure that our cash reserve and anticipated cash flow from operations will be sufficient to meet our current and anticipated working capital requirements and capital expenditures. Therefore, we currently do not expect to actively expand our cryptocurrency lending and investing activities, and may engage in fewer such activities depending on various factors, including aforementioned cash reserve and anticipated working capital requirements. We monitor our investments closely and limit our exposure to the investment risk by including in our operation strategy the requirements to invest only in robust wealth management products and the investments need to be redeemed within the same fiscal quarter. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We will evaluate each digital asset in our portfolio, or that we propose to hold or acquire in the future, to determine whether it would likely be considered a security as defined in Section&#160;2(a)(1) of the Securities Act and consequences thereof, in consultation with outside counsel, as applicable at the time. We will base our analysis on relevant case law, applying the frameworks established by the U.S. Supreme Court and taking into consideration relevant guidance by the SEC and its staff, including the SEC&#8217;s &#8220;Framework for &#8216;Investment Contract&#8217; Analysis of Digital Assets&#8221; issued by the Strategic Hub for Innovation and Financial Technology. Prior to holding or acquiring any digital assets, we would undertake customary due diligence regarding the digital asset in order to gather facts necessary to make such a determination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">However, such framework adopted by us to determine whether certain digital assets are &#8220;securities&#8221; involves risk-based judgements by us, is not based on a legal standard or determination binding on any regulatory body, and therefore is inherently associated with a number of risks, such as the follows: The legal test for determining whether any given digital asset is a security, as described above, is a highly complex, fact-driven analysis that may evolve over time, and the outcome is difficult to predict. The SEC generally does not provide sufficient guidance or confirmation on the status of any particular digital asset as a security. As of the date of this proxy statement/prospectus, with the exception of certain centrally issued digital assets that have received &#8220;no-action&#8221; letters from the SEC staff, Bitcoin and Ethereum are the only digital assets which senior officials at the SEC have publicly stated are unlikely to be considered securities. However, such statements are not official policy statements by the SEC and reflect only the speakers&#8217; views, which are not binding on the SEC or any other agency or court and cannot be generalized to any other digital asset. It is possible that a change in the governing administration or the appointment of new SEC commissioners could substantially impact the views of the SEC and its staff. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Furthermore, the SEC&#8217;s views in this area have evolved over time and it is difficult to predict the direction or timing of any continuing evolution. Thus a particular digital asset&#8217;s status as a &#8220;security&#8221; in any relevant jurisdiction is subject to a high degree of uncertainty and if a regulator disagrees with our characterization of a digital asset, we may be subject to regulatory scrutiny, investigations, fines, and other penalties, which may adversely affect our business, operating results and financial condition. Current and future legislation and SEC-rulemaking and other regulatory developments, including interpretations released by a regulatory authority, may impact the manner in which Bitcoin or other cryptocurrencies are viewed or treated for classification and clearing purposes. In particular, Bitcoin and other cryptocurrencies may not be excluded from the definition of &#8220;security&#8221; by SEC rulemaking or interpretation requiring registration of all transactions unless another exemption is available, including transacting in Bitcoin or other cryptocurrencies among owners and requiring registration of trading platforms as &#8220;exchanges.&#8221; It will then likely become difficult or impossible for the digital asset to be traded, cleared or custodied in the United States through the same channels used by non-security digital assets, which in addition to materially and adversely affecting the trading value of the digital asset is likely to cause substantial volatility and significantly impact its liquidity and market participants&#8217; ability to convert the digital asset into U.S. dollars. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For a more comprehensive discussion of the relevant risks, please refer to See &#8220;Risk Factors&#8201;&#8212;&#8201;Risks Related to Bitdeer&#8201;&#8212;&#8201;Risks Related to Cryptocurrencies&#8201;&#8212;&#8201;There is no one unifying principle governing the regulatory status of cryptocurrencies nor whether cryptocurrencies are securities in any particular context. Regulatory changes or actions in one or more countries may alter the nature of an investment in Bitdeer or restrict the use of cryptocurrencies, such as cryptocurrencies, in a manner that adversely affects Bitdeer&#8217;s </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">189</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:93.43pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">business, prospects or operations.&#8221; and &#8220;Risk Factors &#8212; Risks Related to Bitdeer &#8212; Risks Related to Cryptocurrencies &#8212; If Bitdeer were deemed an &#8220;investment company&#8221; under the Investment Company Act of 1940, as amended, applicable restrictions could make it impractical for Bitdeer to continue its business as contemplated and could have a material adverse effect on Bitdeer&#8217;s business.&#8221;</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Our Cryptocurrencies Storage and Custodial Practices</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">During the&#160;years ended December&#160;31, 2019, 2020 and 2021, substantially all of our cryptocurrencies were held in custody by Matrixport Group and our disposal of cryptocurrencies, at spot price on the date of disposal, was primarily to Matrixport Group, a related party. Following our separation from BitMain Technologies Holding Company, we entered into two custody agreements with Matrixport Group on February&#160;10, 2021 through our subsidiaries, pursuant to which we appointed Matrixport Group to (i)&#160;establish a custody account for the deposit of cryptocurrencies to be held by Matrixport on our behalf, and (ii)&#160;act as the custodian of the cryptocurrencies that are delivered to the designated blockchain address under our custody accounts. For more information, please see &#8220;Risk Factors&#8201;&#8212;&#8201;We may not have adequate sources of recovery if the cryptocurrencies held by us are lost, stolen or destroyed due to third-party cryptocurrency services, which could have a material adverse effect on our business, financial condition and results of operations.&#8221;</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Our custody accounts in Matrixport Group are protected by username, password, and hardware tokens. We are able to view the assets in the custody account and relevant transfers via Matrixport Group&#8217;s custody system. We are able to receive, withdraw and dispose of cryptocurrencies with the custody account. Each withdrawal request is subject to verification by a person designated by us, and if withdrawal is up to certain limit, to additional verification procedure applied by Matrixport Group, including calling a separately designated person or requesting additional written confirmation.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">All withdrawal and transfer of assets shall be permitted by applicable laws and regulations and Matrixport Group&#8217;s internal policies and procedures. Matrixport Group is obligated to keep and maintain, or cause to be kept, accurate books and records with respect to any custody account and assets in accordance with applicable law. Statements of assets, along with a ledger of receipts and disbursements of assets is available to us via Matrixport Group&#8217;s custody system. Under the custody agreements, we are obligated to pay to Matrixport custody fees as a percentage of the value of the cryptocurrencies in U.S. Dollars under custody, monthly management fees as negotiated, and withdrawal fees if applicable. We incurred approximately US$0.3 million service fees, including primarily custody fees, to Matrixport Group for the year ended December 31, 2021, while the service fees we paid to Matrixport Group for the years ended December 31, 2019 and 2020 were immaterial. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Our Proprietary Mining Datacenters</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">We have built and currently operate three proprietary mining datacenters in the United States and two in Norway with an aggregate electricity capacity of 402MW in use as of December 31, 2021. We have initiated the expansion of our existing mining datacenters and expect to have access to a total electricity capacity of 974MW by the end of 2022 and 1,736MW thereafter. The locations of our mining datacenters in use, under construction and &#8220;in the pipeline&#8221; are illustrated in the diagram below. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">190</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="position:relative;margin-top:8pt; text-align:center; width:456pt;">
          <img src="tm2135137d11-map_foort4clr.jpg" alt="[MISSING IMAGE: tm2135137d11-map_foort4clr.jpg]" height="291" width="600" >
        </div>
        <div style="margin-top:5.1pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">As of December 31, 2021 </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:3.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:3.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">As of December 31, 2021 </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:3.81pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:3.81pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">in the pipeline includes 400MW power supply contracted but not yet under active construction and the rest under active negotiation</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Texas Mining Datacenters.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Our mining datacenter in Rockdale, Texas became operational in February&#160;2019 and has 266MW electricity capacity in use as of December 31, 2021. We expect to increase the electricity capacity of this mining datacenter to 742MW from the expansion of our facilities by the end of 2022. We expect to further power on additional 362MW electricity capacity in our mining datacenter in Point Comfort, Texas. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Norway Mining Datacenters.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Our mining datacenters in Fr&#230;na municipality (Molde mining datacenter) and Tydal municipality (Tydal mining datacenter), Norway became operational in December&#160;2019 and had 37.5MW electricity capacity in use as of December 31, 2021. We expect to add 46.3 MW and 50MW of electricity capacity to each of the two mining datacenters by the end of 2022 from the upgrade of the two facilities. Additionally, we plan to add additional 400MW of electricity capacity from the expansion of facilities of the mining datacenter in Tydal, Norway. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Tennessee Mining Datacenter.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Our mining datacenter in Knoxville, Tennessee became operational in May&#160;2020 and we had 86MW electricity capacity in use as of December 31, 2021. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Washington Mining Datacenter.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Our mining datacenter in Pangborn, Washington became operational in May&#160;2018 and we had 12.5MW electricity capacity in use as of December 31, 2021. </font>
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          <font style="letter-spacing:0.2pt;">We have accumulated knowledge and expertise in the global landscape of electric power supply, which enables us to select prime locations to construct mining datacenters. We are currently exploring other sites for constructions of our mining datacenters with an initial focus on North American, North Europe, Central Asia and Southeast Asia. </font>
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          <font style="letter-spacing:-0.2pt;">Agreements Related to Our Proprietary Mining Datacenters</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Lease Agreement for the Mining Datacenter in Rockdale, Texas</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On June&#160;6, 2018, Dory Creek, LLC, our subsidiary (formerly as Bitmain Inc.&#8217;s subsidiary), entered into a Lease Agreement with Alcoa USA Corp. (&#8220;Alcoa&#8221;), by the First Amendment of Lease dated October&#160;18, 2018, by the Second Amendment of Lease dated May&#160;1, 2019, by the Third Amendment of Lease dated May&#160;11, 2021, by the Fourth Amendment to the Lease dated May&#160;11, 2021, by the Fifth Amendment to Lease dated September&#160;15, 2021 and the Sixth Amendment to Lease dated October&#160;25, 2021, pursuant to which we </font>
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          <font style="letter-spacing:0.2pt;">lease land, certain buildings and improvements on the land, a certain portion of Alcoa&#8217;s power delivery network (&#8220;PUN&#8221;) and the non-exclusive right to use certain common areas in Rockdale Texas, for the operation of a blockchain data processing software and hardware center (&#8220;Data Center&#8221;) as well as the office use and a technology repair facility related to the Data Center. Alcoa sells and conveys to us a 100% ownership interest in a certain PUN power circuit and the associated downstream components, subject to certain power delivery restrictions. Upon termination of the Lease Agreement, our interest and ownership in the PUN will revert to Alcoa. For the period from June&#160;6, 2018 through December&#160;31, 2018, we paid Alcoa a lump sum rent of US$250,000. In 2019 and the six months ended June 30, 2020, we paid US$2,400,000 and US$2,125,000 rent to Alcoa under the Lease Agreement. We have an option to extend the term of this lease for two successive periods of five&#160;years (each such period an &#8220;Extension Term&#8221;). If applicable, on each January&#160;1 during the Extension Term, the annual fixed rent shall increase by the greater of 2.5% or the&#160;percentage of the change in the CPI, not to exceed 5% in any single year between the first month and the eleventh month during the previous year. </font>
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          <font style="letter-spacing:0.2pt;">Land Lease Agreement for the Molde Mining Datacenter in Fr&#230;na Municipality, Norway</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On November&#160;15, 2019, we entered into a land lease agreement with Troll Housing AS through Norway Hash Technologies AS, our subsidiary, as amended by three addenda (i.e., Addendum 1, Addendum 2 and Addendum 3) we entered into on December&#160;6, 2020, March&#160;22, 2021 and March&#160;22, 2021, respectively, pursuant to which we lease land located at Klempert&#229;svegen 1, 6440 Elnesv&#229;gen, Norway to support our Molde mining datacenter with 67MW capacity. For the existing 30MW specified in Addendum 1, land rent is calculated based on the installed capacity of datacenter, with a unit price of NOK0.01 per kW prior to January&#160;1, 2021 and NOK0.02 per kW starting from January&#160;1, 2021. For the subsequent expansion of 37MW specified in Addendum 2 and the future potential expansions referred to in Addendum 3, the land rent is invoiced monthly and comprises two components, Monthly Rent 1 and Monthly Rent 2. Monthly Rent 1 is calculated based on datacenter capacity, with a fixed unit price of NOK0.0060 per kWh. Monthly Rent 2 is calculated using floating unit price, being adjusted downwards as total energy use, from the total capacity of Molde and Tydal mining datacenters excluding the existing 30MW specified in Addendum 1, goes up. The floating unit price for Monthly Rent 2 is NOK0.014 per kWh, NOK0.012 per kWh, NOK0.008 per kWh and NOK0.004 per kWh when energy used from datacenter capacity is high than 30MW and lower than 107MW, higher than or equal to 107MW and lower than 247MW, higher than or equal to 247MW and lower than 427MW, and higher than and equal to 427MW, respectively. The land lease for the corresponding expansion will be invoiced upon the relevant mining datacenter expansions are finished and delivered to us, the expansion pass the inspection before power-on and the power grid company completes the corresponding 132-22kV transformer upgrade. The term of the lease agreement is from December&#160;1, 2019 to December&#160;31, 2029, renewable within the term. </font>
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          <font style="letter-spacing:0.2pt;">Land Lease Agreement for the Tydal Mining Datacenter in Tydal Municipality, Norway</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On April&#160;8, 2021, we entered into a land lease agreement with Tydal Datacenter AS through Norway Hash Technologies AS, our subsidiary, pursuant to which we lease land located at Kirkvollen Industriomr&#229;de, 7590 Tydal, Norway to support our Tydal mining datacenter. The land lease will be invoiced upon the relevant mining datacenter expansions are finished and delivered to us, the expansion pass the inspection before power-on and the power grid company completes the corresponding 132-22kV transformer upgrade. The land rent comprises two components, Monthly Rent 1 and Monthly Rent 2. Monthly Rent 1 is calculated based on datacenter capacity, with a fixed unit price of NOK0.0060 per kWh. Monthly Rent 2 is calculated according to Addendum 3 of Land Lease Agreement for the Molde Mining Datacenter in Norway dated March&#160;22, 2021 (See </font><font style="font-style:italic;letter-spacing:0.2pt;">Land Lease Agreement for the Molde Mining Datacenter in Norway</font><font style="letter-spacing:0.2pt;">). The term of the lease agreement is from April&#160;1, 2021 to March&#160;31, 2031, renewable within the term. </font>
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          <font style="letter-spacing:0.2pt;">Commercial Purchase and Sale Agreement for the Mining Datacenter in Knoxville, Tennessee</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On February&#160;26, 2018, Bitmain Inc. entered into a commercial purchase and sale agreement with Kemet Foil Manufacturing LLC, FKA Cornell Dublilier pursuant to which it purchased from Kemet Foil Manufacturing LLC, FKA Cornell Dublilier a tract of land of approximately 9.88 acres improved with a 77,678 square foot industrial building together with all fixtures, landscaping, improvements, and appurtenances, located at 5101 S. National Drive, Knoxville, Tennessee, 37914, for a consideration of </font>
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          <font style="letter-spacing:0.2pt;">US$3,600,000. On March&#160;20, 2018, Bitmain Inc. transferred a quitclaim deed of the aforementioned track of land to Carpenter Creek LLC, our subsidiary, in consideration of the sum of one dollar and other good and valuable considerations. </font>
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          <font style="letter-spacing:0.2pt;">Vacant Land Purchase and Sale Agreement for the Mining Datacenter in Pangborn, Washington</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On August&#160;3, 2017, we entered into a vacant land purchase and sale agreement with Blackhawk Development Inc through Antcreek, LLC, our subsidiary, pursuant to which we purchased from Blackhawk Development Inc a tract of land of 3 acres located at BLA of Parent Parcel 93700000002, East Wenatchee, WA 98802 for a consideration of US$400,000. We use the land to support the operation of our mining datacenter in Pangborn, Washington. </font>
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          <font style="letter-spacing:-0.2pt;">Energy</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We have built, and will continue to make significant investment in building strong partnerships with local electricity experts and power enterprises. Through these partnerships, we successfully lowered the average electricity cost of our proprietary mining datacenters to US$40/MWh for the year ended 2021, which was significantly below the estimated global average of US$49/MWh during the same period, according to Frost &amp; Sullivan. We entered into electric power supply agreements with electricity suppliers to secure low electricity costs for our mining datacenters in Rockdale, Texas, and in Norway. </font>
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          <font style="letter-spacing:0.2pt;">We consider environmental protection vitally important and have implemented measures in the operation of our business, in particular mining datacenters, to ensure our compliance with all applicable laws and regulations in the United States, Norway and other applicable jurisdictions. Our hash rate expansion strategy is energy conscious. We constantly monitor the operation of our mining machines and replace old mining machines models with new ones periodically to optimize energy efficiency. As a result, we successfully lowered our average energy consumption from 47.3j/T as of December 31, 2020 to 39.2j/T as of December 31, 2021. Through&#160;years of experience in and deep insight into the global power supply market, we are able to discover outstanding mining construction resources that are both cost-efficient and environmentally friendly. We stick with high environmental, social and governance (ESG) standards and constantly increase the ratio of power supply generated from carbon-free energy. As of December 31, 2021, the ratio of our carbon-free power supply reached approximately 51%, and is expected to increase to approximately 59% upon completing the construction of all mining datacenters &#8220;in the pipeline&#8221;. We intend to engage a carbon offset strategy consultant to formulate a carbon emissions offsetting plan for our mining datacenters in Texas. In particular, the ratios of carbon-free power supply in our Pangborn, Molde and Tydal mining datacenters have all achieved 100%, according to the latest available statistics regarding energy structure of power supply from respective local authorities as of date of this proxy statement/prospectus. </font>
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          <font style="letter-spacing:-0.2pt;">Sales and Marketing</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Historically, we attracted and retained our customers by offering high-quality products and services, without heavily relying on online or offline advertising campaigns to promote the sales of our products and services. The quality of our products and services is demonstrated by the 100% continuous hash rate online rate and minimum customer complaints. </font>
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          <font style="letter-spacing:-0.2pt;">Technologies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We stay at the forefront of technology development and have built prominent research and development capabilities. We benefit from our continuous investment in research and development as well as our strong and expanding research and development talent pool. Our core technical team has an average of over eight&#160;years of experience in major market players in the cryptocurrency industry. We have obtained patents to support key technologies underpinning our operations. </font>
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          <font style="letter-spacing:0.2pt;">Our technology capabilities drive the differentiation of our business. In particular, the following technologies enable us to constantly improve our proprietary mining efficiency, offer differentiated and quality products and services, and minimize impacts to the environment. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Hash rate slicing.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;We supply our customers the subscribed amount of hash rate by first dividing hash rate into &#8220;time slices,&#8221; each encompasses a certain number of calculations over a period of time. </font>
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          <font style="letter-spacing:0.2pt;">Through hash rate slicing, hash rate is divided into &#8220;time slices&#8221; by algorithm instead of by manual intervention and then submitted to multiple mining pool accounts to support multiple users. Our ability to generate a minimum hash rate unit of 1TH/s enables us to adjust hash rate allocation accurately and dynamically, and optimize operating metrics automatically in order to minimize fluctuations in terms of quantum in hash rate supply under </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Hash rate scheduling.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;We are able to achieve redeployment of hash rate across different mining machines through hash rate scheduling. When a single machine fails, hash rate from other mining machines can be instantly dispatched to ensure timing stability of hash rate supply. As a result, we are able to maintain a hash rate online rate of 100% under </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Real-time monitoring.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> supports efficient and constant monitoring, automated operation and maintenance as well as data analysis for mining machines of different models under different brands, located in mining datacenters of different sizes in different locations. We have developed a highly efficient monitoring model adopting a procedure of </font><font style="font-style:italic;letter-spacing:0.2pt;">prediction&#8201;&#8212;&#8201;feature analysis&#8201;&#8212;&#8201;data processing&#8201;&#8212;&#8201;reverse operation</font><font style="letter-spacing:0.2pt;">, which is able to accurately identify and quickly scan the monitored objects, and return operating data of the mining machine in real-time. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Clean energy.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;We have taken various measures to increase the ratio of clean energy in support of the operations of our mining datacenters. As of December 31, 2021, our non-carbon energy supply ratio reached approximately 51%. Our research and development team has started the feasibility assessment of the use of solar power to support our mining datacenters. We have also spent considerable efforts in minimizing the impact on the local environment. For example, instead of building new plants from the ground, we renovated Panasonic&#8217;s abandoned plants and Alcoa&#8217;s deserted aluminum smelter plants when constructing our mining datacenters in Tennessee and Texas. </font>
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          <font style="letter-spacing:-0.2pt;">Competition</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For our proprietary mining business, we compete with mining operations throughout the world. We compete to solve new blocks on the basis of our total number of mining machines, the degree of mining difficulty and the efficiency of our mining. We also compete to acquire new mining machines, to obtain access to facilities and prime location of mining operations, to electricity, to develop or acquire new technologies and to raise capital. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For our hash rate sharing business line, we compete on both the quantity and the quality of our hash rate supply, which depends on our mining datacenter resources, the total number of our mining machines, our ability to involve third-party hash rate suppliers and our access to technologies to maintain hash rate supply stability. We achieved a 42.9% market share as measured by hash rate for sale in the cloud hash rate sharing market, which is defined as a market where players sell part of their hash rate to customers, as of December&#160;31, 2021, according to Frost &amp; Sullivan. While we face competition from hash rate suppliers like FROGBT, we also seek cooperation with these third-party hash rate suppliers and build synergy-generating relationships by introducing them to our </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> and connecting them to our hash rate users. Together with other market players, we make available diverse and quality hash rate products on our </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">, facilitate the growth of our user base, and both third-party hash rate suppliers and ourselves can enjoy the faster cash payback enabled by a thriving </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For our hosting service, we compete with other hosting operations globally. Our competitiveness depends on our ability to supply hosting space and power, our deployment, management and operation capabilities, the value of our service offering to customers, the availability of mining equipment and technologies, etc. Our innovative computing and hosting service &#8220;group-buying&#8221; model under </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> gives us a clear advantage. We also enjoy the first-mover advantage in mining datacenter deployment and operation as well as mining machine management.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We operate in highly competitive industries for cryptocurrency mining and related services. Our competitors include Argo Blockchain PLC, Bit Digital, Inc., Bitcoin Investment Trust, Bitfarms Technologies Ltd., Blockchain Industries, Inc, Cipher Mining Inc., Coinbase, Inc., Core Scientific, Inc., Digihost International,&#160;Inc., DMG Blockchain Solutions Inc., DPW Holdings, Inc., HashChain Technology, Inc., Hive Blockchain Technologies Inc., Greenidge Generation Holdings Inc., Hut 8 Mining Corp., Layer1 Technologies, Inc., Marathon Digital Holdings,&#160;Inc., MGT Capital Investments, Inc., Northern Data AG, </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">194</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Overstock.com Inc., Riot Blockchain,&#160;Inc. and TeraWulf Inc. Many of our competitors are well-known worldwide players and we face competitors that are larger than us and have advantages over us in terms of economies of scale and financial and other resources. Some of our competitors may also have stronger brand names, greater access to capital, longer histories, longer relationships with their suppliers or customers and more resources than we do. Furthermore, these competitors may be able to adapt to changes in the industry more promptly and efficiently. As such, we expect that competition in our markets will continue to be intense. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Intellectual Property</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of the date of this proxy statement/prospectus, we owned seven registered patents, six registered copyrights, 116 registered trademarks and 142 registered domain names. We are also in the process of applying for seven registered patents. The protection of our intellectual property and all corresponding rights throughout the world, including our trademarks, service marks, trade dress, logos, trade names, domain names, goodwill, patents, copyrights, works of authorship (whether or not copyrightable), software and trade secrets, know-how, and proprietary and other confidential information, together with all applications, registrations, renewals, extensions, improvements and counterparts in connection with any of the foregoing, is important to the success of our business. We seek to protect our intellectual property rights by filing applications in various patent, trademark and other government offices, and relying on applicable laws and regulations in the U.S. and internationally, as well as a variety of administrative procedures. We have routinely entered into confidentiality and invention disclosure and assignment agreements with our employees and contractors, and non-disclosure agreements with external parties with whom we conduct business to control access to, and use and disclosure of, our proprietary information. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Employees</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of the date of this proxy statement/prospectus, we had 154 full-time employees, and five part-time employees. None of our employees is represented by a labor union or subject to a collective bargaining agreement. We believe that we maintain a good working relationship with our employees, and we have not experienced any material disputes with our employees in our history. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Seasonality</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our hash rate level is typically slightly lower in summer as temperature affects mining machine performance regarding hash rate generation.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Government Regulation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Due to the relatively short history of cryptocurrencies, and their emergence as a new asset class, government regulation of blockchain and cryptocurrencies is constantly evolving, with increased interest expressed by U.S. and internal regulators. For example, the Cyber-Digital Task Force of the U.S. Department of Justice published a report entitled &#8220;Cryptocurrency: An Enforcement Framework&#8221; in October&#160;2020 that detailed the Department&#8217;s view with respect to cryptocurrencies and the tools at the Department&#8217;s disposal to deal with threats posed by cryptocurrencies. In March&#160;2021, the nominee for Chair of the SEC expressed the need for investor protection along with promotion of innovation in the cryptocurrency space. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Government regulation of blockchain and cryptocurrencies is under active consideration by the United States federal government via its agencies and regulatory bodies, as well as by similar entities in other countries and transnational organizations, such as the European Union. State and local regulations also may apply to our activities and other activities in which we may participate in the future. Other governmental or semi-governmental regulatory bodies have shown an interest in regulating or investigating companies engaged in blockchain or cryptocurrency businesses. For instance, the SEC has taken an active role in regulating the use of public offerings of proprietary coins (so-called &#8220;initial coin offerings&#8221;) and has made statements and official promulgations as to the status of certain cryptocurrencies as &#8220;securities&#8221; subject to regulation by the SEC. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The effect of any regulatory change, either by the Federal, state, local or foreign governments or any self-regulatory agencies on us is impossible to predict, but such change could be substantial and may have a material adverse effect on our business, financial condition and results of operations. While we are unaware of significant adverse governmental or regulatory action adverse to Bitcoin or Ethereum mining in the United </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">195</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:260pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">States, there is no guarantee that future regulation or adverse action will not take place and interpretation of existing regulations in a manner adverse to our business is possible. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, various foreign jurisdictions either have adopted, or may adopt, laws, regulations or directives that affect cryptocurrencies, cryptocurrency networks, and their users and participants. Such laws, regulations or directives may conflict with those of the United States, may negatively impact the acceptance of cryptocurrencies by users, merchants and service providers outside of the United States, and may therefore impede the growth of cryptocurrencies. A number of Eastern European and Asian countries currently have a more restrictive stance toward cryptocurrencies and, thereby, have reduced the rate of expansion of cryptocurrency use, as well as cryptocurrency transaction processing, in each of those countries. Presently, we do not believe any U.S. or State regulatory body has taken any action or position adverse to our main cryptocurrency, Bitcoin, with respect to its production, sale, and use as a medium of exchange; however, future changes to existing regulations or entirely new regulations may affect our business in ways it is not presently possible for us to predict with any reasonable degree of reliability. </font>
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        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As the regulatory and legal environment evolves, we may become subject to new laws, such as further regulation by the SEC and other agencies, which may affect our mining and other activities. </font>
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        <div style="margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Facilities</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our principal executive offices are located at #09-03/04, Aperia Tower 1, 8 Kallang Avenue, Singapore&#160;339509, where we lease an approximately 440 square meters facility. This facility houses our administrative headquarters and research and development center. We believe that our existing facilities are suitable and adequate to meet our current needs. If we need to add new facilities or expand existing facilities as we add employees, we believe that suitable additional space will be available to accommodate any such expansion of our operations. </font>
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        <div style="margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Legal Proceedings</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We are currently not a party to any material legal or administrative proceedings. We have been, and may from time to time in the future, be subject to various legal and administrative proceedings arising in the ordinary course of our business. Such claims or legal actions, even if without merit, could result in the expenditure of significant financial and management resources and potentially result in civil liability for damages. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">196</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBDAE1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER&#8217;S DIRECTORS AND EXECUTIVE OFFICERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Directors and Senior Management</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following table sets forth certain information relating to the executive officers and directors of Bitdeer as of the date of this proxy statement/prospectus: </font>
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        <table style="width:456pt;height:68.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:230.21pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Name </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Age </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
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              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Position </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:230.21pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Jihan Wu </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">36</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:188.54pt;">
              <font style="letter-spacing:0.2pt;">Founder and Sole Director </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:230.21pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Linghui Kong </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">40</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:188.54pt;">
              <font style="letter-spacing:0.2pt;">Chief Executive Officer </font>
            </td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:230.21pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Jianchun Liu </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">44</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:188.54pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Chief Financial Officer, Business Operations </font>
              </div>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:230.21pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Huaxin Wen </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">43</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:188.54pt;">
              <font style="letter-spacing:0.2pt;">Chief Financial Officer, Capital Market</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        </table>
        <div style="text-indent:20pt; margin-top:7.8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Jihan Wu</font><font style="letter-spacing:0.2pt;"> has served as the sole director of Bitdeer since January&#160;2021. He co-founded BitMain Technologies Holding Company (&#8220;BitMain&#8221;) in 2013, and served as the Chairman and Chief Executive Officer of BitMain from September&#160;2018 to January&#160;2021. Mr. Wu has been a director of Matrixport since 2019. Mr.&#160;Wu obtained dual bachelor&#8217;s degrees in both Economics and Psychology from Peking University in 2009. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Linghui Kong</font><font style="letter-spacing:0.2pt;"> has served as the Chief Executive Officer of Bitdeer since January&#160;2021. He served as the head of Application Software Department of BitMain from April&#160;2018 to December&#160;2020. Prior to that, Mr.&#160;Kong served as a senior software architect of Tencent Technology Beijing Co., Ltd. from April&#160;2011 to March&#160;2018. Mr.&#160;Kong obtained a master&#8217;s degree in Telecommunication and Information System from Beijing University of Posts and Telecommunications in 2008 and a bachelor&#8217;s degree in Telecommunication Engineering from Beijing University of Posts and Telecommunications in 2005. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Jianchun Liu</font><font style="letter-spacing:0.2pt;"> has served as the Chief Financial Officer of Bitdeer since January&#160;2021, responsible for business operations. He has been a director of BitMain since January&#160;2021. Prior to that, Mr.&#160;Liu served as the financial director of BitMain from 2016 to 2021. Mr.&#160;Liu obtained an MBA from University of Chinese Academy of Sciences in 2017 and a bachelor&#8217;s degree in Economics from Renmin University of China in 2000. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Huaxin Wen</font><font style="letter-spacing:0.2pt;"> has served as the Chief Financial Officer of Bitdeer since April&#160;2021, responsible for capital market. He served as a financial officer of Fangdd Network Group Ltd. (Nasdaq: DUO), a property technology company, from 2014 to 2021. Prior to that, Mr.&#160;Wen served as a senior manager of KPMG Huazhen LLP, one of the big four accounting firms, from 2009 to 2014. Mr.&#160;Wen obtained a bachelor&#8217;s degree of Arts in English from South China University of Technology in 2001. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Compensation of Directors and Executive Management</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The compensation for each of our executive officers comprises base salary, discretionary bonus, equity compensation, contractual benefits and contributions to defined contribution plans. Total compensation paid and benefits in kind provided to our directors and executive officers for the year ended December&#160;31, 2021 was approximately US$11.6 million. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We have not set aside or accrued any amount to provide pension, retirement or other similar benefits. For a description of share incentive grants to our directors and officers, see &#8220;&#8212; Incentive Plans.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Incentive Plans</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Set out below is a summary of the incentive plan Bitdeer has in place as of the date of this proxy statement/prospectus: </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">2021 Share Incentive Plan</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In 2021, Bitdeer implemented a 2021 Share Incentive Plan to encourage the long-term commitment and retention of its employees. In connection with the Business Combination, the Bitdeer RSUs granted under the 2021 Share Incentive Plan of Bitdeer will be treated in accordance with the provisions of the Merger Agreement. For a description of this treatment, see &#8220;The Business Combination Proposal&#8201;&#8212;&#8201;Merger Consideration.&#8221; Each Bitdeer RSU outstanding immediately prior to the Closing, whether vested or unvested, </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">197</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:476pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">will be assumed by BTG and converted into an award of restricted share&#160;units representing the rights to receive, on the same terms and conditions as applied to each such Bitdeer RSU immediately prior to the Closing (including with respect to vesting, release and forfeiture or termination provisions). Unless otherwise specified, the Bitdeer RSUs will vest in equal monthly installments over a period of four&#160;years. Under the Merger Agreement, Bitdeer RSUs granted under the 2021 Share Incentive Plan of Bitdeer as of the date of proxy statement/prospectus will represent rights to receive approximately 77,611,953 BTG Class&#160;A Ordinary Shares upon the Closing. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Following the Business Combination, no further awards will be issued under the 2021 Share Incentive Plan of Bitdeer. In connection with the Business Combination, subject to shareholder approval, BTG will adopt the BTG Incentive Plan. Following the Closing, BTG expects to grant equity awards to its directors, officers and employees under the BTG Incentive Plan from time to time, but has not determined at the current time the schedule or amount of such grants. For more information, see &#8220;The BTG Incentive Plan&#160;Proposal.&#8221; </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">198</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBDAO">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BTG&#8217;S DIRECTORS AND OFFICERS FOLLOWING THE BUSINESS COMBINATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following table sets forth certain information relating to the executive officers and directors of BTG after the consummation of the Business Combination. </font>
        </div>
        <table style="width:456pt;height:83.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:173.06pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Name </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Age </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:245.69pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Position </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:173.06pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Jihan Wu </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">36</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:245.69pt;">
              <font style="letter-spacing:0.2pt;">Chairman of the Board </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.06pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Linghui Kong </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">40</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:245.69pt;">
              <font style="letter-spacing:0.2pt;">Director and Chief Executive Officer </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.06pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Xiaoni Meng </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">37</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:245.69pt;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.06pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Jianchun Liu </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">44</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:245.69pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Director and Chief Financial Officer, Business Operations </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.06pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Huaxin Wen </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:center;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; white-space:nowrap;text-align:center;">43</td>
            <td style="padding:0pt;padding-left:1.625pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:245.69pt;">
              <font style="letter-spacing:0.2pt;">Chief Financial Officer, Capital Market</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:7.8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Biographical information for Jihan Wu, Linghui Kong, Jianchun Liu, and Huaxin Wen are under &#8220;Bitdeer Directors and Senior Management&#8201;&#8212;&#8201;Directors and Senior Management&#8201;&#8212;&#8201;Members of the Board.&#8221; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Xiaoni Meng</font><font style="letter-spacing:0.2pt;"> has served as Vice President of BIT Mining Limited (NYSE: BTCM), a cryptocurrency enterprise publicly traded on New York Stock Exchange, since April&#160;2021. She served as the head of mining cloud department of Bitdeer from January&#160;2021 to March&#160;2021. Prior to that, Ms.&#160;Meng led the operation of cloud mining business of BitMain from July&#160;2018 to December&#160;2020. Ms.&#160;Meng graduated from Xi&#8217;an University of Science and Technology in 2006.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Board of Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The board of directors of BTG will initially consist of seven directors immediately after the consummation of the Business Combination. Of these initial seven directors, three will be independent. A director is not required to hold any shares in BTG by way of qualification. A director may vote with respect to any contract, proposed contract or arrangement in which he is materially interested provided (i)&#160;such director, if his interest in such contract or arrangement is material, has declared the nature of his interest at the earliest meeting of the board at which it is practicable for him to do so, either specifically or by way of a general notice, (ii)&#160;such director has not been disqualified by the chairman of the relevant board meeting, and (iii)&#160;if such contract or arrangement is a transaction with a related party, such transaction has been approved by the audit committee in accordance with the Nasdaq rules. The directors may exercise all the powers of BTG to borrow money, mortgage its undertaking, property and uncalled capital, and issue debentures or other securities whenever money is borrowed or as security for any obligation of BTG or of any third party. None of BTG&#8217;s non-executive directors has a service contract with BTG that provides for benefits upon termination of service. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Duties of Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under the laws of the Cayman Islands, directors have a fiduciary duty to act honestly in good faith with a view to the company&#8217;s best interests. BTG directors also have a duty to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. In fulfilling their duty of care to us, our directors must ensure compliance with BTG&#8217;s memorandum and articles of association, as amended and restated from time to time. A shareholder has the right to seek damages if a duty owed by the directors is breached. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Terms of Directors and Executive Officers</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">[The BTG directors may be appointed by a resolution of BTG&#8217;s board of directors or by an ordinary resolution of BTG&#8217;s shareholders. In addition, BTG&#8217;s board of directors may, by the affirmative vote of a simple majority of the directors present and voting at a board meeting appoint any person as a director either to fill a casual vacancy on BTG&#8217;s board or as an addition to the existing board. Unless otherwise determined by BTG in general meeting, BTG shall have no less than three (3) and no more than twelve (12) directors. BTG&#8217;s directors are not subject to a term of office and hold office until such time as they are removed from office by ordinary resolution of the shareholders. A director will cease to be a director automatically if the director (i)&#160;becomes bankrupt or makes any arrangement or composition with his creditors; (ii)&#160;dies or is found to be or becomes of unsound mind; (iii)&#160;resigns his office by notice in writing to BTG; (iv)&#160;without </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">199</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">special leave of absence from BTG&#8217;s board, is absent from three consecutive board meetings and BTG&#8217;s directors resolve that his office be vacated; or (v)&#160;is removed from office pursuant to any other provisions of Amended BTG Articles. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG&#8217;s officers are elected by and serve at the discretion of the board of directors of BTG. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Board Committees</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The BTG board of directors will have an audit committee, a compensation committee and a nominating committee. Each committee&#8217;s members and functions are described below. </font>
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          <font style="letter-spacing:-0.2pt;">Audit Committee</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The BTG audit committee will initially consist of &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;and &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;.&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;will be the chairperson of BTG&#8217;s audit committee. Each of &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;and &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;satisfies the independence requirements under Rule&#160;5605(c)(2) of the Nasdaq Stock Market Rules and meets the criteria for independence set forth in Rule&#160;10A-3 of the Exchange Act. &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;satisfies the criteria of an audit committee financial expert as set forth under the applicable rules of the SEC. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">[The BTG audit committee will oversee BTG&#8217;s accounting and financial reporting processes and the audits of BTG&#8217;s financial statements. The audit committee will be responsible for, among other things: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">selecting the independent auditor; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">pre-approving auditing and non-auditing services permitted to be performed by the independent auditor; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">annually reviewing the independent auditor&#8217;s report describing the auditing firm&#8217;s internal quality control procedures, any material issues raised by the most recent internal quality control review, or peer review, of the independent auditors and all relationships between the independent auditor and BTG; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">review responsibilities, budget, compensation and staffing of BTG&#8217;s internal audit function; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing with the independent auditor any audit problems or difficulties and management&#8217;s response; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing and, if material, approving all related party transactions on an ongoing basis; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing and discussing the annual audited financial statements with management and the independent auditor; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing and discussing with management and the independent auditors major issues regarding accounting principles and financial statement presentations; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing reports prepared by management or the independent auditors relating to significant financial reporting issues and judgments; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">discussing earnings press releases with management, as well as financial information and earnings guidance provided to analysts and rating agencies; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing with management and the independent auditors the effect of regulatory and accounting initiatives, as well as off-balance sheet structures, on BTG&#8217;s financial statements; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">discussing policies with respect to risk assessment and risk management with management and internal auditors; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">timely reviewing reports from the independent auditor regarding all critical accounting policies and practices to be used by BTG, all alternative treatments of financial information within IFRS that have been discussed with management and all other material written communications between the independent auditor and management; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">establishing procedures for the receipt, retention and treatment of complaints received from BTG&#8217;s employees regarding accounting, internal accounting controls or auditing matters and the confidential, anonymous submission by BTG&#8217;s employees of concerns regarding questionable accounting or auditing matters; </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">200</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">such other matters that are specifically delegated to BTG&#8217;s audit committee by BTG&#8217;s board of directors from time to time; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">meeting separately, periodically, with management, internal auditors and the independent auditor.] </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Compensation Committee</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The BTG compensation committee will initially consist of &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;and &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;. &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;will be the chairperson of the compensation committee. &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;satisfies the independence requirements under Rule&#160;5605(a)(2) of the Nasdaq Stock Market Rules. </font>
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          <font style="letter-spacing:0.2pt;">[BTG&#8217;s compensation committee will be responsible for, among other things: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">reviewing, evaluating and, if necessary, revising BTG&#8217;s overall compensation policies; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing and evaluating the performance of BTG&#8217;s directors and relevant senior officers and determining the compensation of relevant senior officers; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing and approving BTG&#8217;s senior officers&#8217; employment agreements with BTG; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">setting performance targets for relevant senior officers with respect to BTG&#8217;s incentive compensation plan and equity-based compensation plans; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">administering BTG&#8217;s equity-based compensation plans in accordance with the terms thereof; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">such other matters that are specifically delegated to the compensation committee by BTG&#8217;s board of directors from time to time.] </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Nominating and Corporate Governance Committee</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The BTG nominating and corporate governance committee will initially consist of &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;and &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;. &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;will be the chairperson of the nominating and corporate governance committee. Each of &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;and &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;satisfies the independence requirements under Rule&#160;5605(a)(2) of the Nasdaq Stock Market Rules. </font>
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          <font style="letter-spacing:0.2pt;">[The BTG nominating and corporate governance committee will be responsible for, among other things: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">selecting and recommending to BTG&#8217;s board of directors nominees for election by the shareholders or appointment by the board; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">reviewing annually with BTG&#8217;s board of directors the current composition of BTG&#8217;s board of directors with regards to characteristics such as independence, knowledge, skills, experience and diversity; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">making recommendations on the frequency and structure of BTG&#8217;s board of directors meetings and monitoring the functioning of the committees of BTG&#8217;s board of directors; and </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">advising BTG&#8217;s board of directors periodically with regards to significant developments in the law and practice of corporate governance as well as BTG&#8217;s compliance with applicable laws and regulations, and making recommendations to the board on all matters of corporate governance and on any remedial action to be taken.] </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:-0.2pt;">Employment Agreements and Indemnification Agreements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">[BTG has entered into employment agreements with each of BTG&#8217;s executive officers. Under these agreements, each of BTG&#8217;s executive officers is employed for a specified time period. BTG may terminate employment for cause, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction or plea of guilty to a felony or any crime involving moral turpitude, negligent or dishonest acts to BTG&#8217;s detriment, or misconduct or a failure to perform agreed duties. BTG may also terminate an executive officer&#8217;s employment without cause upon [three]-month advance written notice. In such case of termination by BTG, BTG will provide severance payments to the executive officer as expressly required by applicable law of the jurisdiction where the executive officer is based. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each executive officer has agreed to hold, both during and after the termination or expiry of his or her employment agreement, in strict confidence and not to use, except as required in the performance of his or her </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">201</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:0.2pt;">duties in connection with the employment or pursuant to applicable law, any of BTG&#8217;s confidential information or trade secrets, any confidential information or trade secrets of BTG&#8217;s clients or prospective clients, or the confidential or proprietary information of any third party received by BTG and for which BTG has confidential obligations. The executive officers have also agreed to disclose in confidence to BTG all inventions, designs and trade secrets which they conceive, develop or reduce to practice during the executive officer&#8217;s employment with BTG and to assign all rights, title and interest in them to BTG, and assist BTG in obtaining and enforcing patents, copyrights and other legal rights for these inventions, designs and trade secrets. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, each executive officer has agreed to be bound by non-competition and non-solicitation restrictions during the term of his or her employment and typically for [one] year following the last date of employment. Specifically, each executive officer has agreed not to (i)&#160;approach agents, developers, real estate buyers or other persons or entities introduced to the executive officer in his or her capacity as a representative of BTG for the purpose of doing business with such persons or entities that will harm BTG&#8217;s business relationships with these persons or entities; (ii)&#160;assume employment with or provide services to any of BTG&#8217;s competitors, or engage, whether as principal, partner, licensor or otherwise, any of BTG&#8217;s competitors, without BTG&#8217;s express consent; or (iii)&#160;seek directly or indirectly, to solicit the services of any of BTG&#8217;s employees who is employed by BTG on or after the date of the executive officer&#8217;s termination, or in the year preceding such termination, without BTG&#8217;s express consent. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG has also entered into indemnification agreements with each of BTG&#8217;s directors and executive officers. Under these agreements, BTG agrees to indemnify BTG&#8217;s directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being a director or officer of BTG.] </font>
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          <font style="letter-spacing:-0.2pt;">Foreign Private Issuer Status</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG is an exempted company limited by shares incorporated in 2021 under the laws of the Cayman Islands. After the consummation of the Business Combination, BTG will report under the Exchange Act as a non-U.S. company with foreign private issuer status. Under Rule&#160;405 of the Securities Act, the determination of foreign private issuer status is made annually on the last business day of an issuer&#8217;s most recently completed second fiscal quarter and, accordingly, the next determination will be made with respect to BTG on June&#160;30, 2022. For so long as BTG qualifies as a foreign private issuer, it will be exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the rules under the Exchange Act requiring the filing of quarterly reports on Form 10-Q or current reports on Form 8-K with the SEC; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the sections of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the selective disclosure rules by issuers of material nonpublic information under Regulation&#160;Fair Disclosure, or Regulation&#160;FD, which regulates selective disclosure of material non-public information by issuers. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG will be required to file an annual report on Form 20-F within four&#160;months of the end of each fiscal year. In addition, BTG intends to publish its results on a quarterly basis through press releases, distributed pursuant to the rules and regulations of Nasdaq. Press releases relating to financial results and material events will also be furnished to the SEC on Form 6-K. However, the information BTG is required to file with or furnish to the SEC will be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers. Accordingly, after the Business Combination, BTG shareholders will receive less or different information about BTG than a shareholder of a U.S. domestic public company would receive. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BTG is a non-U.S. company with foreign private issuer status, and, after the consummation of the Business Combination, will be listed on Nasdaq. Nasdaq market rules permit a foreign private issuer like BTG to follow the corporate governance practices of its home country. Certain corporate governance practices in </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">202</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">the Cayman Islands, which is BTG&#8217;s home country, may differ significantly from Nasdaq corporate governance listing standards. Among other things, BTG is not required to have: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a majority of the board of directors consist of independent directors; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">a compensation committee consisting of independent directors; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">a nominating committee consisting of independent directors; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">regularly scheduled executive sessions with only independent directors each year. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Although not required and as may be changed from time to time, BTG intends to have, as of the consummation of the Business Combination, a majority-independent board of directors, a majority-independent compensation committee and a nominating committee. Subject to the foregoing, BTG intends to rely on the exemptions listed above. As a result, you may not be provided with the benefits of certain corporate governance requirements of Nasdaq applicable to U.S. domestic public companies. </font>
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          <font style="letter-spacing:-0.2pt;">Controlled Company Status</font>
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        <div style="text-indent:20pt; margin-top:6pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">After the completion of the Business Combination, Mr. Jihan Wu will control a majority of the voting power of BTG&#8217;s outstanding ordinary shares. As a result, BTG will be a &#8220;controlled company&#8221; within the meaning of applicable Nasdaq listing rules. Under these corporate governance standards, a company of which more than 50% of the voting power is held by an individual, group or another company is a &#8220;controlled company&#8221; and may elect not to comply with certain corporate governance standards, including the requirements (1) that a majority of its board of directors consist of independent directors, (2) that its board of directors have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee&#8217;s purpose and responsibilities and (3) that its board of directors have a nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the committee&#8217;s purpose and responsibilities. For at least some period following the Business Combination, BTG may utilize these exemptions [since the board has not yet made a determination with respect to the independence of any directors.] Pending such determination, you may not have the same protections afforded to shareholders of companies that are subject to all of these corporate governance requirements. If BTG ceases to be a &#8220;controlled company&#8221; and its shares continue to be listed on Nasdaq, BTG will be required to comply with these standards and, depending on the board&#8217;s independence determination with respect to its then-current directors, BTG may be required to add additional directors to its board in order to achieve such compliance within the applicable transition periods.</font>
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        <div style="margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Director Independence</font>
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        <div style="text-indent:20pt; margin-top:6pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As a result of Mr. Jihan Wu holding a majority of the voting power of BTG&#8217;s outstanding ordinary shares, BTG will be a &#8220;controlled company&#8221; within the meaning of Nasdaq&#8217;s listing rules. Therefore, BTG will not be required to comply with certain corporate governance rules that would otherwise apply to us as a listed company on Nasdaq, including the requirement that compensation committee and nominating and corporate governance committee be composed entirely of &#8220;independent&#8221; directors (as defined by Nasdaq&#8217;s listing rules). As a &#8220;controlled company,&#8221; the board of directors of BTG will not be required to include a majority of &#8220;independent&#8221; directors.</font>
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        <div style="text-indent:20pt; margin-top:6pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Nonetheless, we anticipate that BTG will have [&#8226;] &#8220;independent directors&#8221; as defined in the Nasdaq listing standards and applicable SEC rules. In addition, we anticipate that [&#8226;] and [&#8226;] will qualify as independent directors for the purpose of serving on the audit committee of BTG under SEC rules.</font>
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        <div style="margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Code of Business Conduct and Ethics</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:6pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG has adopted a Code of Business Conduct and Ethics applicable to its directors, officers and employees. BTG seeks to conduct business ethically, honestly, and in compliance with applicable laws and regulations. BTG&#8217;s Code of Business Conduct and Ethics sets out the principles designed to guide BTG&#8217;s business practices&#8201;&#8212;&#8201;compliance, integrity, respect and dedication. The code applies to all directors, officers, employees and extended workforce, including the Founder, Chairman and Chief Executive Officer, Chief Operating Officer, President, Chief Financial Officer and Chief People Officer. Relevant sections of the code also apply to members of the BTG board of directors. BTG expects its suppliers, contractors, consultants, and other business partners to follow the principles set forth in its code when providing goods and services to BTG or acting on BTG&#8217;s behalf.</font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">203</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBMDA1">&#8203;</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER&#8217;S MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Unless the context otherwise requires, all references in this section to the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;us&#8221;, &#8220;our&#8221; or &#8220;Bitdeer&#8221; refer collectively to Bitdeer Technologies Holding Company and its direct and indirect subsidiaries prior to the consummation of the Business Combination.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
            <font style="letter-spacing:0.2pt;">You should read the following discussion and analysis of our financial condition and results of operations together with the &#8220;Selected Historical Financial Information of Bitdeer&#8221; section of this prospectus and our combined and consolidated financial statements and the related notes appearing elsewhere in this prospectus. This discussion contains forward-looking statements that reflect our plans, estimates, and beliefs that involve risks and uncertainties. As a result of many factors, such as those set forth under the &#8220;Risk Factors&#8221; and &#8220;Forward-Looking Statements&#8221; sections and elsewhere in this proxy statement/prospectus, our actual results may differ materially from those anticipated in these forward-looking statements.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Bitdeer is a world-leading technology company for the cryptocurrency mining community. As of December 31, 2021, we were the world&#8217;s second largest holder of proprietary hash rate, which is defined as hash rate generated from proprietary mining machines; by allocating part of our proprietary hash rate for sale, we were the world&#8217;s largest supplier of hash rate, as measured by hash rate for sale in the cloud hash rate sharing market, which is defined as a market where players sell part of their hash rate to customers, according to Frost &amp; Sullivan. </font>
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            <font style="letter-spacing:0.2pt;">We mine cryptocurrencies for our own account and serve the cryptocurrency mining community by providing innovative, reliable and easy-to-use cryptocurrency mining solutions. Headquartered in Singapore, we currently operate five proprietary mining datacenters in the United States and Norway with an aggregate electricity capacity of 402MW as of December 31, 2021, which we expect to increase to 974MW by the end of 2022 by expanding our footprints to six mining datacenters globally. From these mining datacenters, we generate managing hash rate which is categorized into proprietary and hosting hash rate. As of December 31, 2021, our proprietary hash rate reached 4.2 EH/s and accounted for 2.5% of the total Bitcoin network hash rate, making us the second largest holder of proprietary hash rate across the globe, according to Frost &amp; Sullivan. Together with the 3.9 EH/s hosting hash rate generated from mining machines hosted in our mining datacenters, we possessed a total of 8.1 EH/s of managing hash rate as of December 31, 2021, accounting for approximately 4.9% of the total Bitcoin network hash rate. </font>
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            <font style="letter-spacing:0.2pt;">To date, we primarily operate three business lines&#8201;&#8212;&#8201;&#8220;proprietary mining,&#8221; &#8220;hash rate sharing&#8221; and &#8220;hosting.&#8221; Proprietary mining refers to cryptocurrency mining for our own account, which allows us to directly capture the high appreciation potential of cryptocurrency. We offer two types of hash rate sharing solutions, </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">. Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, we sell our proprietary hash rate to customers. We offer hash rate subscription plans at fixed price and share mining income with them under certain arrangements. As of December 31, 2021, our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate </font><font style="letter-spacing:0.2pt;">business achieved a market share of 42.9% as measured by hash rate for sale in the cloud hash rate sharing market, according to Frost &amp; Sullivan. Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">, we connect reliable third-party hash rate suppliers with hash rate users to facilitate hash rate sales and generate revenue from charging service fees. Our hosting services offer customers one-stop mining machine hosting solutions encompassing deployment, maintenance and management services for efficient cryptocurrency mining. Among a wide selection of hosting services, customers can either subscribe to our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> service for the specified mining machines from which they derive computing power under a &#8220;group-buying&#8221; model, or send their mining machines to our mining datacenters for hosting under the </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> option or the </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting </font><font style="letter-spacing:0.2pt;">option. Historically, our hosting hash rate were generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;">. All of our three business lines are supported by </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;">, our self-developed integrated intelligent software platform, which offers software support to significantly reduce time needed for daily maintenance and mining machine upgrade and substantially decrease operation and maintenance headcount. We source mining machines from a wide variety of manufacturers and traders with whom we have built robust relationships over the years. We also engage in the sales of mining machines from time to time.</font>
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          <font style="letter-spacing:0.2pt;">For the years ended December 31, 2019, 2020 and 2021, respectively, 42.2%, 47.5% and 48.6% of our revenue was generated from proprietary mining, 49.0%, 42.0% and 31.5% of our revenue was generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">. For&#160;the years ended December 31, 2020 and 2021, 1.6% and 1.9% of our revenue was generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">, a new service launched in 2020. We also launched </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> in 2021, which contributed 4.6% of our total revenue for the year ended December 31, 2021. We generated immaterial revenue from </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;"> and no revenue from </font><font style="font-style:italic;letter-spacing:0.2pt;">Membership Hosting </font><font style="letter-spacing:0.2pt;">prior to December 31, 2021. For the years ended December 31, 2019, 2020 and 2021, respectively, 8.5%, 8.5% and 11.6% of our revenue was generated from the sales of mining machines. </font>
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          <font style="letter-spacing:0.2pt;">We have achieved significant growth in recent periods. Our revenue increased by 110.0% from US$88.8 million for the&#160;year ended December&#160;31, 2019 to US$186.4&#160;million for the year ended December&#160;31, 2020, and further increased by 111.7% to US$394.7&#160;million for the&#160;year ended December&#160;31, 2021. We had gross loss of US$10.1&#160;million and US$23.2&#160;million for the years ended December 31, 2019 and 2020, respectively, and generated gross profit of US$241.4 million for the year ended December&#160;31, 2021. We incurred net loss of US$27.9 million and US$55.8 million for the years ended December&#160;31, 2019 and 2020, respectively, and generated net profit of US$82.6 million for the year ended December&#160;31, 2021. Our adjusted EBITDA increased by 195.2% from US$16.5&#160;million for the year ended December&#160;31, 2019 to US$48.7&#160;million for the year ended December 31, 2020, and further increased by 479.2% to US$281.8 million for the year ended December&#160;31, 2021. </font>
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          <font style="letter-spacing:-0.2pt;">Recent Developments</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Recent events impacting our business are as follows: </font>
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          <font style="letter-spacing:-0.2pt;">Business Combination</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">On December 15, 2021, an amended and restated merger agreement and plan of merger (as amended from time to time, the &#8220;Merger Agreement&#8221;) was entered into by and among Bitdeer Technologies Group (&#8220;BTG&#8221;), Bitdeer, Blue Safari Group Acquisition Corp.(&#8220;BSGA&#8221;), Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;BSGA Merger Sub 1&#8221;), Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;BSGA Merger Sub 2&#8221;), Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of BTG (&#8220;Bitdeer Merger Sub&#8221;) and Blue Safari Mini Corp. (&#8220;BSGA Sub&#8221;), amending and restating that agreement and plan of merger dated November&#160;18, 2021, by and among Bitdeer, BSGA and BSGA Sub. Pursuant to the terms of the Merger Agreement, (i)&#160;BSGA Merger Sub 1 will merge with and into BSGA with BSGA being the surviving entity (the &#8220;First SPAC Merger&#8221;), (ii)&#160;following the First SPAC Merger, BSGA will merge with and into BSGA Merger Sub 2, with BSGA Merger Sub 2 being the surviving entity (the &#8220;Second SPAC Merger,&#8221; and together with the First SPAC Merger, the &#8220;Initial Mergers&#8221;), and (iii)&#160;following the Initial Mergers, Bitdeer Merger Sub will merge with and into Bitdeer (the &#8220;Acquisition Merger,&#8221; and together with the Initial Mergers, the &#8220;Mergers&#8221;), with Bitdeer being the surviving entity and becoming a wholly-owned subsidiary of BTG. The Mergers and other transactions contemplated by the Merger Agreement are collectively referred to as the &#8220;Business Combination.&#8221; The consummation of the Business Combination remains subject to customary closing conditions. </font>
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          <font style="letter-spacing:-0.2pt;">Reorganization</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Separation from BitMain Technologies Holding Company</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">For the&#160;years ended December&#160;31, 2019 and 2020, and the period from January 1, 2021 to January 26, 2021, the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business, the proprietary mining business and the business of providing dynamic hosting solutions (collectively, the &#8220;Bitdeer Business&#8221;), and the mining pool business, including the ownership of and registration right to the domain name btc.com (the &#8220;BTC.com Pool Business&#8221; or &#8220;BTC&#8221;), were operated through a number of entities controlled by BitMain Technologies Holding Company (&#8220;Bitmain&#8221;). We were created for the purpose of separating the Bitdeer Business and the BTC.com Pool Business following a corporate reorganization of Bitmain in order to effectuate the separation. The separation from Bitmain resulted in the transfer of certain assets, liabilities and contracts related to the Bitdeer Business and the </font>
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          <font style="letter-spacing:0.2pt;">BTC.com Pool Business at their historical book values from Bitmain to the Company on January&#160;26, 2021, when Bitmain distributed by way of dividend in kind the shares of the Company to the then existing Bitmain shareholders. Immediately after the separation from Bitmain, the Company and its subsidiaries began operating on a stand-alone basis. </font>
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          <font style="letter-spacing:0.2pt;">Separation of the BTC.com Pool Business</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In February&#160;2021, we established Blockchain Alliance Technologies Holding Company (&#8220;Blockchain Alliance&#8221;) for the purpose of separating the BTC.com Pool Business following our corporate reorganization. The separation was consummated on April&#160;15, 2021, when we distributed by way of dividend in kind the shares of Blockchain Alliance to our then existing shareholders. </font>
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          <font style="letter-spacing:0.2pt;">Basis of Preparation</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The combined financial statements for the years ended December 31, 2019, 2020 and the period from January 1, 2021 to April 15, 2021 have been prepared to capture the stand-alone Bitdeer Business, which has historically operated as part of Bitmain. The assets, liabilities, results and cash flows of the BTC.com Pool Business were also excluded from these financial statements. There are limitations inherent in the preparation of these financial statements since our business was previously part of a larger organization. </font>
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          <font style="letter-spacing:0.2pt;">The combined statements of operations and comprehensive income/(loss) for the years ended December&#160;31, 2019 and 2020 and the period from January 1, 2021 to April 15, 2021 include all revenue and cost directly attributable to the Bitdeer Business. These include certain common operating and administrative expense incurred by the Bitdeer Business in conjunction with other business operations of Bitmain and BTC, including financial, human resources, office administration and other support functions. These costs have been allocated on a basis considered reasonable by management using either specific identification or proportional allocations based on usage, headcount, or other reasonable methods of allocation. </font>
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          <font style="letter-spacing:0.2pt;">The consolidated financial statements as of December 31, 2021 and the consolidated results of operations of the Bitdeer Business for the period from April 16, 2021 to December 31, 2021 are prepared on a consolidated basis. For further information on the basis of presentation, please refer to Note 2(a) to the combined and consolidated financial statements as of December 31, 2020 and 2021, and for each of the three years in the period ended December 31, 2021 included elsewhere in this proxy statement/prospectus. </font>
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          <font style="letter-spacing:-0.2pt;">Key Performance Metrics</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We regularly review a number of metrics, including the key metrics presented below, to evaluate our business and performance. </font>
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          <font style="letter-spacing:-0.2pt;">Hash Rate</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We believe hash rate is an important metric for assessing the strength of our business. &#8220;Hash rate&#8221; is a measure of computational power that is being used to mine and process transactions on a PoW blockchain, such as Bitcoin, representing the number of calculations per second that can be performed. Cryptocurrency mining is a competitive process in that only the first miner who solves a particular mining puzzle through numerous calculations can get the mining reward. Accordingly, the more hash rate we possess, as a&#160;percentage of the entire network hash rate for a particular cryptocurrency, the higher possibility we have in resolving a block on the network blockchain, and hence a greater chance of success in obtaining cryptocurrency rewards. We calculate and report our hash rate in EH/s. One exahash equals one quintillion hashes per second. As of December 31, 2021, we possessed proprietary hash rate of 4.2 EH/s, accounting for 2.5% of the total Bitcoin network hash rate, according to Frost &amp; Sullivan. </font>
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          <font style="letter-spacing:-0.2pt;">Electricity Capacity</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Electricity capacity is another key metric to evaluate our business and operation given the energy intensive nature of cryptocurrency mining. Cryptocurrency mining is conducted through intensive computations, and the generation of the hash rate used in such computations requires large amounts of electricity. As a result, the growth of our business, such as proprietary mining and hash rate sales through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, relies on a </font>
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          <font style="letter-spacing:0.2pt;">sustainable and increasing supply of a significant amount of electricity, which is currently supported by our proprietary mining datacenters. As of December 31, 2021, our electricity capacity was 402MW. </font>
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          <font style="letter-spacing:-0.2pt;">Electricity Cost</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As our business operations consume a large amount of electricity and electricity cost in operating mining machines accounts for a significant portion of our overall cost of revenue, we strive to maintain our leadership position in the global electricity cost curve by building mining datacenters worldwide, where low electricity cost supports stable operations. As such, we see electricity cost a key indicator of our business performance. We successfully lowered the average electricity cost of our proprietary mining datacenters to US$40/MWh for the year ended 2021, which was significantly below the estimated global average of US$49/MWh during the same period, according to Frost &amp; Sullivan.</font>
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          <font style="letter-spacing:-0.2pt;">Non-IFRS Financial Measure</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">In evaluating our business, we consider and use a non-IFRS measure, adjusted EBITDA, as a supplemental measure to review and assess our operating performance. We define adjusted EBITDA as profit/</font>&#8203;<font style="letter-spacing:0.2pt;">(loss) for the periods, adjusted to exclude (i)&#160;depreciation and amortization, (ii)&#160;income tax expenses/(benefit), (iii) interest expense/(income), net and (iv)&#160;share-based payment expenses under IFRS 2. We present this non-IFRS financial measure because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of this non-IFRS measure facilitates investors&#8217; assessment of our operating performance. These measures are not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider these measures in isolation from, or as a substitute analysis for, our profit/(loss) for the periods, as determined in accordance with IFRS. </font></div>
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          <font style="letter-spacing:0.2pt;">We compensate for these limitations by reconciling these non-IFRS financial measures to the nearest IFRS performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. </font>
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          <font style="letter-spacing:0.2pt;">The following table presents a reconciliation of profit/(loss) for the year to adjusted EBITDA for the&#160;years ended December&#160;31, 2019, 2020 and 2021. We incurred share-based payment expenses of approximately US$88.4 million under IFRS 2 for the year ended December 31, 2021. </font>
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                <font style="letter-spacing:-0.16pt;">For the Year Ended</font>
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                <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:318.56pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:34.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:34.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:32.71pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:318.56pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:34.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:34.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:32.71pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:318.56pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="7">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">(in thousands) </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Adjusted EBITDA </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:34.37pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:34.37pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:32.71pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Profit/(loss) for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">(27,900) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">(55,826) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">82,643 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Add:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:34.37pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:34.37pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:32.71pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Depreciation and amortization </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">47,520 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:1.66pt;letter-spacing:0.2pt;">112,037 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">63,055 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income tax expenses/(benefit) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">(2,930) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">(7,961) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">48,246 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest expense/(income), net </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:12.71pt;letter-spacing:0.2pt;">(210) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:19.37pt;letter-spacing:0.2pt;">404 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.05pt;letter-spacing:0.2pt;">(504) </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share-based payment expenses</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:24.37pt;letter-spacing:0.2pt;">&#8212;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:24.37pt;letter-spacing:0.2pt;">&#8212;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">88,355</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:318.56pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Adjusted EBITDA </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">16,480 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:34.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">48,654 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">281,795</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:11.8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Key Factors Affecting Our Results of Operations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following factors are the principal factors that have affected and will continue to affect our business, financial condition, results of operations and prospects. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Price and volatility of Bitcoin</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We derive, and expect to continue to derive, a significant portion of revenue from proprietary mining of cryptocurrency, primarily Bitcoin. Hence, our ability to generate revenue from this business line is directly </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">207</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">affected by the market price of Bitcoin. We also generate a large percentage of revenue from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, which offers hash rate to be utilized by third-party miners. As a result, revenue from this business line is also correlated with Bitcoin price and volatility. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The appreciation potential of Bitcoin is high due to several factors. Bitcoins are inherently scarce, given they are designed to have a finite supply of 21&#160;million associated with a depreciating rewarding mechanism, termed &#8220;halving,&#8221; under which the reward for mining Bitcoin transactions is reduced in half every four&#160;years. The growing recognition of Bitcoins also attracts large investment into the Bitcoin economy, as evidenced by an increasing installed network hash rate of Bitcoin globally, and increasing adoption of Bitcoin as an investment instrument and a payment method. Further, more countries are establishing clear and robust regulations to create a more stable environment for Bitcoin mining and trading, which may facilitate the demand for Bitcoins and Bitcoin price appreciation. The Bitcoin price has soared by 236% from the last peak at US$20,089 on December 17, 2017 to US$67,562 on November&#160;9, 2021, according to Frost &amp; Sullivan. However, there are a number of other factors that contribute to changes in Bitcoin price and volatility, including, but not limited to, Bitcoin market sentiment, macroeconomic factors, utility of Bitcoin, and idiosyncratic events such as exchange outages or social media. While we have seen clear growth in both of our proprietary mining and </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business, we have limited ability to predict Bitcoin price and its volatility, which we expect to continue to affect our future earnings and cash flows. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitcoin Price, January&#160;2016&#8201;&#8211;&#8201;December 2021</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="position:relative;margin-top:9.7pt; text-align:center; width:456pt;">
          <img src="tm2135137d11-lc_bitcoin4clr.jpg" alt="[MISSING IMAGE: tm2135137d11-lc_bitcoin4clr.jpg]" height="191" width="607" >
        </div>
        <div style="margin-top:4.9pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:7.71pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Source: Frost &amp; Sullivan </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Our ability to maintain our leadership position in proprietary hash rate</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A prevailing strategy to profit from proprietary hash rate is mining. The cryptocurrencies mined can be sold at a profit when their market value is high enough to cover the cost of mining machines, electricity fees and other mining-related expenses. Bitcoins are intentionally designed to be resource-intensive and difficult to mine, rendering hash rate critical in the mining industry. Possessing a higher share of network hash rate translates to a higher likelihood of generating mining awards. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We strive to maintain our leadership position in proprietary hash rate. In particular, we have established a business model that allows us to constantly reinforce our market-leading position and outpace our competitors in terms of scaling up our proprietary hash rate. We strategically allocate a significant amount of proprietary hash rate to hash rate sales through our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business, to enable instant cash pay-back upon customers&#8217; subscription to our hash rate plans. We generally generate proceeds from hash rate sales under long-term hash rate subscription plans that approximate the purchase cost of mining machines. We are able to achieve such a premium against mining machine purchase cost as our hash rate subscription plans save hash rate buyers the efforts from complex mining operation and maintenance and have built brand recognition among customers. Therefore, we are able to continuously grow our proprietary hash rate by funding the purchase of additional mining fleets with the instant cash collected from hash rate sales using our existing mining fleets, significantly reducing our pay-back period to one month, compared to the long pay-back period associated with cryptocurrency mining activities, which is typically from 6 to 18 months, according to Frost &amp; Sullivan. We intend to continuously scale up our infrastructure and proprietary hash rate in this efficient </font>
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          <font style="letter-spacing:0.2pt;">manner in order to maintain and reinforce our leading position in proprietary hash rate. However, whether we can achieve a premium through this model depends on various factors, such as the supply and demand in both mining machines and global mining datacenters, whether miners prefer conducting mining operations on their own and technology advancements. Short-term Bitcoin price fluctuations is another contributing factor as quickly adjusting the pricing of our hash rate subscriptions plans to reflect such price change is difficult, if not impossible. Whether this approach will remain effective will affect our ability to add more mining fleets to support the scale-up of our infrastructure and hash rate. </font>
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          <font style="letter-spacing:-0.2pt;">Our ability to procure mining machines at a lower cost</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Depreciation of mining machines remained one of the two largest costs we incurred in our business operations for the&#160;years ended December&#160;31, 2019, 2020 and 2021. Depreciation of mining machines is directly affected by the purchase price of these machines. </font>
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          <font style="letter-spacing:0.2pt;">Along with the increase in market value of cryptocurrencies, the demand for the most recent and efficient mining machines has also increased, leading to scarcity in the supply of and thereby an increase in the price of mining machines. As a result, the cost of new machines can be unpredictable, and could also be significantly higher than our historical cost for new mining machines. Based on our well-established network with upstream mining machine suppliers and traders, we believe that we are able to secure spot machines for the most recent and most commonly used models at a relatively low price for a majority of our mining machines and thereby lowering depreciation of mining machines. However, whether we are able to successfully procure mining machines at a low price is subject to a number of factors, including our brand strength, our mining machine purchase channels, and supply and demand of mining machines, some of which may not be entirely within our control. </font>
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          <font style="letter-spacing:-0.2pt;">Our ability to effectively maintain our leadership position in the global electricity cost curve</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Electricity cost was the other largest cost, besides depreciation of mining machines, that we incurred in our business operations for the&#160;years ended December&#160;31, 2019, 2020 and 2021. </font>
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          <font style="letter-spacing:0.2pt;">Our ability to secure ample power supply with low electricity cost is underpinned by our top-notch global mining datacenters deployment and operation experience and capabilities. We pioneer in deploying and operating mining datacenters globally. Our dedicated global team for mining datacenter construction understands the critical needs of mining as well as the complex and continuously evolving global landscape of electricity supply. They also have extensive connections with local electricity experts and power enterprises around the world, giving us a clear advantage in mining datacenter construction, and hence in electricity capacity and electricity costs among our competitors. We were able to optimize our electricity cost structure and successfully lowered the average electricity cost of our proprietary mining datacenters to US$40/MWh for the year ended December&#160;31, 2021, which was significantly below the estimated global average of US$49/MWh during the same period, according to Frost &amp; Sullivan. Whether our current cost-saving efforts or our forward strategy in this regard is effective for maintaining our leadership position in the global electricity cost curve will affect our ability to control our costs. </font>
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          <font style="letter-spacing:-0.2pt;">Our business judgments regarding pricing strategy and resource allocation</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our business operations involve constant and important decision-making regarding the pricing of our products and services as well as allocation of mining resources. Our pricing strategy is based on our estimates of market trends. As we operate three business lines, we have to decide the allocation of proprietary hash rate between &#8220;proprietary mining&#8221; and &#8220;hash rate sharing&#8221; as well as the allocation of mining datacenter capacity among &#8220;proprietary mining&#8221;, &#8220;hash rate sharing&#8221; and &#8220;hosting&#8221;. While allocating more mining resources to &#8220;hash rate sharing&#8221; and &#8220;hosting&#8221; services may facilitate cash payback and mining datacenter expansion, we have to forgo Bitcoin&#8217;s huge appreciation potential to some extent as we could earn more Bitcoins by allocating the same mining resources to &#8220;proprietary mining&#8221;, and vice versa. We spend great efforts in making decisions in the Company&#8217;s best interest, taking into account Bitcoin price, network hash rate, the amount of cash we need and our view on the market opportunities for acquiring mining machines or expanding mining datacenters at low cost, etc. However, we cannot guarantee that our decisions could bring the Company the best results every time, and we anticipate our business judgments will continue to affect the results of our operations. </font>
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          <font style="letter-spacing:-0.2pt;">Our ability to upgrade and expand our offerings</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Crypto-economy is characterized by continuous fluctuations and frequent innovations. Therefore, our future success is dependent on our ability to diversify our income structure to reduce exposure to fluctuations of the price of Bitcoin, the most significant type of cryptocurrency involved in our business operation, and maintain our market-leading position by upgrading and expanding our offerings. We launched </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> in January&#160;2021 to improve operational efficiency for our proprietary mining business and miner customers. We expect to further expand our hosting service and generate more revenue from the service. We are in the process of building an efficient hash rate trading marketplace connecting third-party hash rate suppliers and hash rate buyers. We intend to enrich our product and service portfolio by providing mining services covering new crypto protocols, including Proof-of-Stake (&#8220;PoS&#8221;), Delegated Proof-of-Stake (&#8220;DPoS&#8221;), Proof-of-Spacetime (&#8220;PoSt&#8221;) and Proof-of-Capacity (&#8220;PoC&#8221;), and steadily increase the weight of new business to diversify revenue streams and attract new customers who are users of these new crypto protocols. </font>
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          <font style="letter-spacing:0.2pt;">Although we have accumulated extensive expertise and know-how in the cryptocurrency industry, we are only at an earlier stage of executing our offering expansion plan. Upgrading existing offerings and commencing new businesses may incur significant costs and experience a prolonged ramp-up period. Although we expect these investments to benefit our business over the long term, we also expect our total operating expenses will increase for the foreseeable future. If any adverse development in such new businesses arises, we may not be able to develop those new businesses as successfully as contemplated, or at all, and our results of operations and prospects may be significantly and negatively affected as a result. </font>
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          <font style="letter-spacing:-0.2pt;">Regulatory environment</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We are a leading cryptocurrency mining service provider with a strong global presence. As of December 31, 2021, we operate five prime mining datacenters in the United States and Norway and have served users across over 100 countries and regions around the globe, and may continue to expand our operations to more countries and regions. Each of our business line is subject to government regulation in each jurisdiction in which we operate and various jurisdictions may from time to time adopt laws, regulations or directives that affect our businesses. We are subject to regulatory risks with regards to mining, holding, using, or transferring cryptocurrencies, etc., and the uncertainty of the regulatory environment and our ability to anticipate and respond to potential changes in government policies and regulations will have a significant impact on our business operations in countries we operate in and our overall results of operations. Regulations have impacted or could impact, among others, the nature of and scope of offerings we are able to make available, the pricing of offerings on our platform, our relationship with, and incentives, fees and commissions provided to or charged from our business partners, our ability to operate in certain segments of our business. We expect that our ability to manage our relationships with regulators in each of our markets, as well as existing and evolving regulations will continue to impact our results in the future. </font>
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          <font style="letter-spacing:-0.2pt;">Impact of COVID-19</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The COVID-19 pandemic has caused general business disruption worldwide beginning in January&#160;2020, and the subsequent restrictive measures including social distancing, quarantine imposed by the governments around the world, and related travel and trade restrictions have caused disruption to businesses and resulted in significant global economic impacts. COVID-19 has also impacted the payment efficiency of certain of our customers. As of the date of this proxy statement/prospectus, these impacts have not had a significant effect on our financial results or operations and liquidity. At present, we are generally conducting business and operations as usual. </font>
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          <font style="letter-spacing:0.2pt;">The global impact of COVID-19 continues to rapidly evolve, and we will continue to monitor the situation and the effects on our business and operations closely. We do not yet know the full extent of potential impacts on our business or operations or on the global economy as a whole, particularly if the COVID-19 pandemic continues and persists for an extended period of time. Given the uncertainty, we cannot reasonably estimate the impact on our future results of operations, cash flows, or financial condition. See &#8220;Risk Factors&#8201;&#8212;&#8201;The COVID-19 pandemic has brought a significantly negative impact on the global economy, industry and market conditions. The ongoing development and the global control on the pandemic are unclear, which may increase the instability of Bitdeer&#8217;s development, materially and adversely affecting Bitdeer&#8217;s results of operations.&#8221; for further details. </font>
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          <font style="letter-spacing:-0.2pt;">Key Components of Our Results of Operations</font>
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          <font style="letter-spacing:-0.2pt;">Revenue</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We generate revenue from (i)&#160;proprietary mining, (ii)&#160;hash rate sales through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, (iii) </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">, (iv) </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;">, (v)&#160;sales of mining machines and (vi) others, which mainly consist of the provision of management services and the sale of mining machine peripherals. Historically, we only accepted cryptocurrency for </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">. For our other products and services available to customers, we accept both fiat currency and cryptocurrencies as payment. </font>
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          <font style="letter-spacing:0.2pt;">Proprietary Mining</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">We enter into contracts with mining pool operators to provide computing power generated from our own mining machines to the mining pools. The contracts with mining pool operators are terminable at any time by either party. In exchange for providing computing power to the mining pool, we are entitled to a fractional share of the cryptocurrency reward the mining pool operator receives from the blockchain network, which is calculated based on a predetermined formula agreed by us and the mining pool operator as a part of the arrangement. The cryptocurrency rewards the mining pool operators receive include both the block rewards and the transaction verification fees. Under our contracts with mining pool operators, our only performance obligation is to provide them with computing power, which is our ordinary course of business. The transaction consideration we receive is an aggregate amount and primarily includes the block rewards. As a result, we do not present disaggregated revenue information on block rewards and transaction verification fees. </font>
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          <font style="letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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            <font style="letter-spacing:0.2pt;">Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, customers can subscribe to a specified amount of computing power derived from the mining machines held by us for a period of time through a wide selection of hash rate subscription plans offered by us, differentiated by plan duration and the type of cryptocurrency to be mined. By subscribing to the hash rate subscription plan, the customers are able to direct the computing power provided by us to be connected to a customer-designated mining pool for a period of time. As a result of directing the connection of such computing power to the mining pools, the customers are entitled to the mining rewards, which are directly transferred from mining pools to the customer-designated cryptocurrency wallets. Customers pay a fixed amount for the subscribed hash rate at the commencement of the plans. The revenue related to hash rate subscriptions is amortized ratably throughout the duration of the plan. The customer also needs to separately pay for electricity subscriptions to maintain the mining machines that produce the subscribed hash rate. The revenue related to electricity subscriptions is recognized ratably throughout the duration of each respective electricity subscription. The price of electricity subscription is fixed at the commencement of each electricity subscription. The hash rate subscription plans are offered under two modes. Under the classic mode, the customer receives all of the mining rewards from the mining pool. Under the accelerator mode, the customer pays a relatively lower computing power subscription fee. In exchange, we are entitled to additional consideration once the customer&#8217;s cost is recovered. The additional consideration is determined as a percentage of a customer&#8217;s mining profit derived from the subscribed computing power. We accept both cryptocurrency and fiat currency as payments under the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> arrangements.</font>
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          <font style="letter-spacing:0.2pt;">Cloud Hosting</font>
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            <font style="letter-spacing:0.2pt;">Through </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;">, we provide our customers one-stop mining machines hosting solution that integrates the provision of computing power generated from the specified mining machines and the provision of maintenance service, which primarily includes electricity supply and daily maintenance and repair care, generally over the life-time of the mining machines. We charge our customers an upfront amount at the commencement of the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> arrangements so the customers can secure the procurement of the computing power from the specified mining machines and the corresponding revenue is recognized ratably over the term of the service, which approximates to the life of the specified mining machines and is estimated to be two years, and maintenance service fee, based on the consumption of resources, such as electricity, and the corresponding revenue is recognized across each service cycle. The estimated life of these mining machines is reviewed at least at each financial year-end and adjusted if the expectation of the realization of economic benefits from the specified mining machines is different from the previous estimate. The Cloud Hosting </font>
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            <font style="letter-spacing:0.2pt;">arrangements are offered under two modes. Under the classic mode, the customer receives all of the mining rewards from the mining pool. Under the accelerator mode, the customer is charged with a lower upfront amount and enjoys a quicker recovery of the costs. In exchange, we are entitled to additional consideration once a customer&#8217;s cost is recovered. The additional consideration is determined as a percentage of a customer&#8217;s mining profit derived from the computing power of the specified mining machines. No revenue was generated from the additional consideration from Cloud Hosting arrangements offered under the accelerator mode for all the periods presented. The additional transaction price is determined as a percentage of a customer&#8217;s mining profit derived from the hash rate of the specified mining machines. We did not generate any revenue from the additional consideration from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> arrangements offered under the &#8220;accelerated payback mode&#8221; for the years ended December 31, 2020 and 2021. We historically only accept cryptocurrency as payments for services under the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> arrangements. Under the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> arrangements, our customers&#8217; ability to direct the use of, and to obtain substantially all of the remaining benefits from, the mining machines is limited while the mining machines are in our possession. We have determined that we still retain control over the mining machines and consequently, the mining machines under the </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> arrangements were not derecognized from our book.</font>
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          <font style="letter-spacing:0.2pt;">General Hosting</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We provide </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> services that enable our customers to run blockchain computing operations. The service fee is charged to our customers monthly on a consumption basis, such as the amount of electricity used in a period, based on the customer&#8217;s use of such resources. Revenue from the </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> service is recognized across each service cycle. We accept both cryptocurrency and fiat currency as payments for the provision of custody and maintenance service.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Sales of Mining Machines</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We engage in the sales of mining machines on hand from time to time. We sell mining machines on hand when, based on our judgement, selling machines of older models can (i) facilitate cash payback while maintaining a reasonable profit range compared to utilizing them for our own operations and (ii) optimize the efficiency of our mining fleets. Factors we considered include market conditions, capacity availability in our mining datacenters and the availability of new-generation mining machines that are more efficient. We recognize revenue from sales of mining machines to customers at the point in time when control of the mining machines is transferred to our customers, which generally occurs upon shipment of the mining machines as defined in the contract. We accept both cryptocurrency and fiat currency as payments for mining machine purchase.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Others</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We also generate immaterial revenue for all periods under discussion from other operations, which mainly include the provision of management services and the sale of mining machine peripherals. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Cost of Revenue</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our cost of revenue consists primarily of (i)&#160;electricity expenses incurred for operating our mining machines in the revenue-generating activities, (ii)&#160;depreciation expense from the mining machines and the mining datacenters hosting those mining machines, (iii) compensation expenses incurred by mining datacenter personnel and (iv) cost of mining machines sold to customers. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Electricity Cost in Operating Mining Machines</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We incur electricity costs when (i)&#160;operating proprietary mining machines for cryptocurrency mining, (ii)&#160;generating hash rate for sales under </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, (iii) operating specified mining machines for customers under </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> and (iv)&#160;operating customer-owned mining machines during the provision of </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> services. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Depreciation of Mining Machines and Mining Datacenters</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Depreciation on our mining machines is calculated using the straight-line method to allocate cost up to residual values over the estimated useful lives of the assets. We estimate the useful life of mining machines </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">212</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">primarily based on the historical measures of (i)&#160;the period when each mining machine is able to deliver expected performance and (ii)&#160;the frequency of technological advancement, which leads to new generation of mining machines. We also estimate the residual value of the mining machines at the expected time of disposal, taking into consideration factors such as make and model. The depreciation method, useful life and residual value of the mining machines are reviewed at least at each financial year-end and adjusted, if appropriate. For the years ended December 31, 2019 and 2020, we estimated the useful lives of the mining machines to be one year. The useful life for mining machines was changed from one year to one to two years for the year ended December 31, 2021 for the mining machines of newer models that were purchased in 2021 as a result of the review conducted in July 2021. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Depreciation of mining datacenters is calculated using the straight-line method based on the estimated useful lives of the assets comprised thereof, such as buildings, machinery, electronic equipment and leasehold improvement, and is recorded under depreciation of property, plant, and equipment. The depreciation method, useful life and residual value of these asset are reviewed at least at each financial year-end and adjusted if appropriate.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Compensation Expenses Incurred by Mining Datacenter Personnel</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The compensation expenses incurred by mining datacenter personnel consists primarily of (i) share-based payment expenses related to mining datacenter personnel as a result of the grant of options under the 2021 Share Incentive Plan in the second half of 2021 and (ii) staff costs, including salaries, wages and other benefits in relation to mining datacenter personnel.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cost of Mining Machines Sold</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The cost of mining machines sold is incurred when we sell our mining machines that have been used for our business operations. It is recognized at the net book value of the associated mining machines.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Gross Profit/(Loss)</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our gross profit or loss is primarily affected by (i)&#160;Bitcoin prices, which have a significant and direct effect on the amount of revenue we recognized from our operations, (ii)&#160;depreciation of mining machines, which is directly related to the mining machine purchases we made, (iii)&#160;electricity costs, (iv) staff cost, including salaries, wages and other benefits, (v) cost of mining machines sold and (vi) share-based payment expenses. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Operating Expenses/(Income)</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Selling Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our selling expenses primarily consist of (i)&#160;staff costs, including wages, bonuses and benefits to sales personnel, (ii)&#160;promotional expenses, which primarily represent expenses incurred for online and offline marketing activities and other promotional activities to reach more customers, and (iii)&#160;share-based payment expenses related to marketing personnel. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">General and Administrative Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our general and administrative expenses primarily consist of (i)&#160;staff costs, including wages, bonuses and benefits to general and administrative personnel, (ii)&#160;consulting service expenses, and (iii)&#160;share-based payment expenses related to administrative personnel. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Research and Development Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our research and development expenses primarily consist of (i) staff costs, including wages, bonuses and benefits to research and development personnel, and (ii)&#160;share-based payment expenses related to research and development personnel. We invest significant research and development resources in improving technology related to our </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> business including hash rate slicing, developing </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace </font><font style="letter-spacing:0.2pt;">and improve our </font><font style="font-style:italic;letter-spacing:0.2pt;">Minerplus</font><font style="letter-spacing:0.2pt;"> features like virus detection and hash rate monitoring. We also spent R&amp;D efforts on utilizing renewable energy and increasing energy efficiency. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">213</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="GoBack">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Operating Income/(Expenses)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:5pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our other operating income/expenses primarily consist of (i)&#160;net gain/losses on disposal of cryptocurrencies, (ii)&#160;net loss on disposal of mining machine, and (iii)&#160;write-off of receivables from related parties. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Net Gain/(Loss)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:5pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Other net gain/loss primarily consist of (i) net gain on settlement of balances between Bitmain, (ii)&#160;impairment loss of property, plant and equipment and (iii) impairment loss of a pre-matured investment. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Results of Operations</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:5pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following tables summarizes our results of operations, revenue breakdown, and expenses by nature for the&#160;years ended December&#160;31, 2019, 2020 and 2021. This information should be read together with our combined and consolidated financial statements and related notes included elsewhere in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus. The results of operations in any particular period are not necessarily indicative of our future trends. </font></div>
        <div style="text-indent:20pt; margin-top:5pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following table summarizes our results of operations for the years ended December 31, 2019, 2020 and 2021.</font>
        </div>
        <table style="width:456pt;height:186pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:253pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:0pt;text-align:center;" colspan="7">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years Ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;height:18pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:253pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.083pt 0pt 0.667pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.083pt 0pt 0.667pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.083pt 0pt 0.667pt 0pt; width:57pt;vertical-align:top;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:253pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Revenue</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:0.11pt;letter-spacing:-0.2pt;">US$</font><font style="float:right;"><font style="letter-spacing:-0.2pt;">88,771</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">US$</font><font style="float:right;"><font style="letter-spacing:-0.2pt;">186,387</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">US$</font><font style="float:right;"><font style="letter-spacing:-0.2pt;">394,661</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2pt 0pt 1pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cost of revenue </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:18.75pt;letter-spacing:0.2pt;">(98,839) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:17.63pt;letter-spacing:0.2pt;">(209,564) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:17.63pt;letter-spacing:0.2pt;">(153,255) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Gross profit / (loss)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:18.75pt;letter-spacing:-0.2pt;">(10,068)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:-0.2pt;">(23,177)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:24.29pt;letter-spacing:-0.2pt;">241,406</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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              </div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:23.75pt;letter-spacing:0.2pt;">(3,137) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:27.63pt;letter-spacing:0.2pt;">(5,567) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:27.63pt;letter-spacing:0.2pt;">(8,448) </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">General and administrative expenses </font>
              </div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:23.75pt;letter-spacing:0.2pt;">(7,550) </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:0.2pt;">(20,268) </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:0.2pt;">(89,735) </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Research and development expenses </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:23.75pt;letter-spacing:0.2pt;">(4,746) </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:27.63pt;letter-spacing:0.2pt;">(9,790) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:0.2pt;">(29,501) </font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:253pt;text-align:left;">
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              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:23.75pt;letter-spacing:0.2pt;">(6,027) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:27.63pt;letter-spacing:0.2pt;">(2,045) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:29.29pt;letter-spacing:0.2pt;">14,625 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2pt 0pt 1pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other net gain / (loss) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:38.11pt;letter-spacing:0.2pt;">230 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:27.63pt;letter-spacing:0.2pt;">(2,560) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:34.29pt;letter-spacing:0.2pt;">2,483 </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Profit / (loss) from operations</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:18.75pt;letter-spacing:-0.2pt;">(31,298)</font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:-0.2pt;">(63,407)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:24.29pt;letter-spacing:-0.2pt;">130,830</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2pt 0pt 1pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Finance income / (expenses) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:38.11pt;letter-spacing:0.2pt;">468 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:35.34pt;letter-spacing:0.2pt;">(380) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:47pt;letter-spacing:0.2pt;">59 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Profit / (loss) before taxation</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:18.75pt;letter-spacing:-0.2pt;">(30,830)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:-0.2pt;">(63,787)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:24.29pt;letter-spacing:-0.2pt;">130,889</font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2pt 0pt 1pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income tax benefit / (expenses) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="margin-left:30.41pt;letter-spacing:0.2pt;">2,930 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:34.29pt;letter-spacing:0.2pt;">7,961 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="margin-left:22.63pt;letter-spacing:0.2pt;">(48,246) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.75pt 0pt 1.75pt 0pt; width:253pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Profit / (loss) for the year</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="border-bottom:3pt double #000000;padding:1.75pt 0pt 1pt 0pt; width:53pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">US$(27,900)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="border-bottom:3pt double #000000;padding:1.75pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">US$</font><font style="float:right;"><font style="letter-spacing:-0.2pt;">(55,826)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="border-bottom:3pt double #000000;padding:1.75pt 0pt 1pt 0pt; width:57pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">US$</font><font style="float:right;letter-spacing:-0.2pt;">82,643</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:12.8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following table sets forth a breakdown of our revenue, for the&#160;years indicated. </font>
        </div>
        <table style="width:456pt;height:205.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:222.76pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:0pt;text-align:center;" colspan="34">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Year Ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;height:18pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.083pt 0pt 0.667pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.083pt 0pt 0.667pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.083pt 0pt 0.667pt 0pt; width:0pt;vertical-align:top;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222.76pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;text-align:center;" colspan="34">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">(in thousands, except for&#160;percentages) </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Revenues</font><font style="font-weight:normal;letter-spacing:0.2pt;">: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Proprietary mining </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">37,471</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">42.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">88,493</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">47.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">191,693</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">48.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cloud hash rate </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">43,499</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">49.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">78,288</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">42.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">124,205</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">31.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Hash rate subscription </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">18,678</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">21.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">31,389</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">16.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">53,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">13.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Electricity subscription </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">24,821</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">28.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">45,242</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">24.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">35,113</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">8.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Additional consideration from Cloud Hash Rate arrangements offered under </font>
                <br >
                <font style="letter-spacing:0.2pt;">accelerator mode </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,657</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">35,140</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">8.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Sales of mining machines</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">7,507</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">8.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">15,844</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">8.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">45,693</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">11.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cloud Hosting arrangements**</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">2,929</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">7,568</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">General Hosting</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">18,312</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">4.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2pt 0pt 0.5pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others* </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">294</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">833</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">7,190</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.75pt 0pt; width:222.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Total revenues</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">88,771</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">186,387</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">394,661</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">214</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Others include revenue generated primarily from the provision of management services and the sale of mining machine peripherals. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
        </div>
        <div style=" margin-top:4.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">We did not generate any revenue from the additional consideration from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> arrangements offered under &#8220;accelerated payback mode&#8221; for the years ended December 31, 2020 and 2021. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following table sets forth a breakdown by nature of our cost of revenue, selling, general and administrative, and research and development expenses for the&#160;years indicated.</font>
        </div>
        <table style="width:456pt;height:413.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:205.76pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2pt 0pt; width:0pt;text-align:center;" colspan="34">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Year Ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;height:18pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:205.76pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 1.667pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 1.667pt 0pt; width:0pt;" colspan="10">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 1.667pt 0pt; width:0pt;vertical-align:top;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:205.76pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:205.76pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt; width:0pt;text-align:center;" colspan="34">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">(in thousands, except for&#160;percentages) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Staff cost: salaries, wages and other benefits </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">13,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">11.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">33,041</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">13.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">37,730</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">13.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share-based payments</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">88,355</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">31.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amortization of intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">23</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">111</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">146</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Depreciation </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">39,641</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">34.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">98,136</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">40.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">43,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">15.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">3,684</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">3.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">9,807</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">4.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">14,416</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">5.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Right-of-use assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">4,172</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">3.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">3,983</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">4,636</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Electricity cost in operating mining machines</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">37,698</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">33.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">72,078</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">29.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">58,447</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">20.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cost of mining machines sold</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">5,392</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">4.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">17,537</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">7.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">5,978</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">2.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Consulting service fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,665</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,039</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">8,787</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Tax and surcharge </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,948</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">3,085</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">2,202</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Advertising expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">801</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">2,189</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">880</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Office expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">651</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">543</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">2,219</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.667pt 0pt 0.5pt 0pt; width:205.76pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Research and development technical service</font>
                <br >
                <font style="letter-spacing:0.2pt;">fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">404</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">681</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,964</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.667pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.7</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses of low-value consumables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">2,206</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">1.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">971</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,662</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses of variable payment lease </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">610</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses of short-term leases </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">439</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">372</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">351</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Impairment loss of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">106</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Logistic expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,002</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">339</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,391</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Travel expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">168</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.1</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">52</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,393</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.5</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Insurance fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">377</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">459</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">0.2</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">983</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3pt 0pt 2pt 0pt; width:205.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">541</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">0.4</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">766</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">0.3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">4,826</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1.9</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.083pt 0pt; width:205.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt; line-height:12.0000000000001pt; margin-bottom:-0.500000000000019pt;">
                <font style="letter-spacing:-0.2pt;">Total cost of revenue, selling, general and administrative and research and development expenses</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">114,272</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">245,189</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">280,939</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.333pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td colspan="3">&#8203;</td>
            <td colspan="3">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:17.2pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Comparison of Years Ended December 31, 2020 and 2021</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Revenue</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our revenue increased by 111.7% from US$186.4&#160;million for the year ended December 31, 2020 to US$394.7&#160;million for the year ended December 31, 2021. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Revenue generated from our proprietary mining business increased by 116.6% from US$88.5&#160;million for the year ended December 31, 2020 to US$191.7&#160;million for the year ended December 31, 2021. The change was mainly driven by price appreciation of Bitcoin, the most significant type of cryptocurrency involved in our business operation, partially offset by decrease in the number of Bitcoin mined, </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">215</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">primarily resulting from the Bitcoin halving event on May 11, 2020 and a slight decrease in the hash rate allocated to proprietary mining. The average price of Bitcoin for the year ended December 31, 2021 was US$47,385 compared to US$11,057 for the year ended December 31, 2020, representing an increase of 328.5%, according to Frost &amp; Sullivan. The hash rate used for proprietary mining, calculated on a twelve-month average basis, was approximately 2.2EH/s for the year ended December 31, 2021, which was relatively stable compared to 2.3EH/s for the year ended December 31, 2020. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Revenue generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate </font><font style="letter-spacing:0.2pt;">increased by 58.7% from US$78.3&#160;million for the year ended December 31, 2020 to US$124.2&#160;million for year ended December 31, 2021, which was mainly attributable to the increase in (i)&#160;revenue from additional consideration from acceleration plan arrangements and (ii)&#160;revenue from hash rate subscription, partially offset by the decrease in electricity charges as a result of lower hash rate allocated to </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> in 2021. The increase in revenue generated from additional consideration from acceleration plan arrangements was due to the launch of subscription plans under &#8220;accelerator mode&#8221; in 2020, an increase in the number of customers who recovered their investment costs in 2021 as well as Bitcoin price appreciation. The increase in revenue from hash rate subscription was mainly driven by the higher sales price of hash rate subscription and the higher demand for </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, both of which were primarily attributable to (i)&#160;Bitcoin price appreciation, and (ii) our increased brand recognition as a result of our expanding scale of operations as well as diverse hash rate subscription plans and high-quality hash rate. The hash rate allocated to </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, calculated on a twelve-month average basis, was approximately 2.0EH/s for the year ended December 31, 2021, which was relatively stable compared to 2.1EH/s for the year ended December 31, 2020. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Revenue generated from sales of mining machines increased by 188.4% from US$15.8 million for the year ended December 31, 2020 to US$45.7 million for the year ended December 31, 2021, which was mainly attributable to the higher sales price of mining machines driven by Bitcoin price appreciation, offset by the decrease in the number of mining machines we sold in 2021. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Revenue generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> increased by 158.4% from US$2.9 million for the year ended December 31, 2020 to US$7.6 million for the year ended December 31, 2021, which was mainly attributable to an increase in the customer base of </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> following the launch of </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hosting</font><font style="letter-spacing:0.2pt;"> service in 2020.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Revenue generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">General Hosting</font><font style="letter-spacing:0.2pt;"> increased from nil for the year ended December 31, 2020 to US$18.3 million for the year ended December 31, 2021, primarily driven by (i)&#160;professional miners&#8217; higher demand for hosting services in 2021, (ii) the increase in mining site capacity as a result of the expansion of our mining datacenter operations and (iii)&#160;our efforts to attract more hosting customers to diversify our revenue stream. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cost of Revenue</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our cost of revenue decreased by 26.9% from US$209.6&#160;million for the year ended December&#160;31, 2020 to US$153.3&#160;million for the year ended December&#160;31, 2021, primarily driven by decrease in (i) depreciation of mining machines, (ii) the electricity cost in operating mining machines and (iii) cost of mining machine sold, partially offset by an increase in share-based payment expenses attributed to cost of revenue, increase in salaries, wages, and other benefits attributed to cost of revenue and increase in depreciation of property, plant and equipment attributed to cost of revenue. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Depreciation of mining machines decreased by 55.3% from US$98.1&#160;million for the year ended December&#160;31, 2020 to US$43.9&#160;million for the year ended December&#160;31, 2021, primarily because (i)&#160;the mining machines procured at the beginning of 2020 as a result of our expanded hash rate capacity contributed large depreciation amount for the year ended December&#160;31, 2020, and are fully depreciated by the first half of 2021 as those mining machines were depreciated in one year on a straight-line basis, and (ii) we changed the useful life for mining machines from one year to one to two years for the mining machines of newer models that were purchased in 2021 starting from July 2021, which leads to lower depreciation for the year ended December 31, 2021. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Electricity cost in operating mining machines decreased by 18.9% from US$72.1 million for the year ended December 31, 2020 to US$58.4 million for the year ended December 31, 2021, primarily driven </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">216</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">by the lowered overall energy consumption of 39.2 j/T as of December 31, 2021, compared to 48&#160;j/T as of December 31, 2020 for our mining machines, partially offset by the increase in managing hash rate calculated on a twelve-month average basis from approximately 4.6EH/s for the year ended December&#160;31, 2020 to approximately 5.7EH/s for the year ended December 31, 2021.</font>
        </div>
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          <font style="letter-spacing:0.2pt;">Cost of mining machines sold decreased by 65.9% from US$17.5 million for the year ended December&#160;31, 2020 to US$6.0 million for the year ended December 31, 2021, primarily driven by (i) the lower carrying book value of the mining machines sold in 2021 as the mining machines sold in 2021 were used for a longer period with most of their costs depreciated compared to the ones sold in 2020 and (ii) decrease in the number of mining machines sold in 2021. </font>
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          <font style="letter-spacing:0.2pt;">Share-based payment expenses attributed to cost of revenue increased from nil for the year ended December 31, 2020 to US$10.4 million for the year ended December 31, 2021, which was due to the grant of options under the 2021 Share Incentive Plan to mining datacenter personnel in the second half of 2021. </font>
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          <font style="letter-spacing:0.2pt;">Salaries, wages and other benefits attributed to cost of revenue increased by 99.4% from US$4.7 million for the year ended December 31, 2020 to US$9.4 million for the year ended December 31, 2021, which was due to the increase in salaries, wages and other benefits to mining datacenter personnel as a result of the expansion of our mining datacenter operations.</font>
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          <font style="letter-spacing:0.2pt;">Depreciation of property, plant and equipment attributed to cost of revenue increased by 47.0% from US$9.5&#160;million for the year ended December&#160;31, 2020 to US$14.0&#160;million for the year ended December&#160;31, 2021, primarily attributable to our expansion of the mining datacenter. </font>
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          <font style="letter-spacing:0.2pt;">Selling Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our selling expenses increased by 51.8% from US$5.6&#160;million for the year ended December&#160;31, 2020 to US$8.4&#160;million for the year ended December&#160;31, 2021, primarily due to the US$5.2 million increase in share-based payment expenses attributed to selling expense as a result of the grant of options to sales personnel under the 2021 Share Incentive Plan in the second half of 2021, partially offset by US$1.4 million decrease in staff costs, including salaries, wages and benefits to sales personnel and the US$1.3 million decrease in advertising expenses, as we conducted fewer marketing activities. As a result of price appreciation of Bitcoin, the most significant cryptocurrency involved in our business operation, and wider market recognition of our brand name, we are able to achieve satisfying sales performance without engaging in proactive marketing activities. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">General and Administrative Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our general and administrative expenses increased by 342.7% from US$20.3 million for the year ended December 31, 2020 to US$89.7 million for the year ended December 31, 2021, primarily due to (i) US$54.5 million increase in share-based payment expenses attributed to general and administrative expenses as a result of the grant of option to administrative personnel under the 2021 Share Incentive Plan in the second half of 2021, (ii) US$7.5 million increase in consulting service fees attributed to general and administrative expenses charged by professional parties due to our efforts in capital market activities.</font>
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          <font style="letter-spacing:0.2pt;">Research and Development Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our research and development expenses increased by 201.3% from US$9.8&#160;million for the year ended December&#160;31, 2020 to US$29.5&#160;million for the year ended December&#160;31, 2021, primarily attributable to (i) US$18.2 million increase in share-based payment expenses attributed to research and development expenses of as a result of the grant of options to research and development personnel under the 2021 Share Incentive Plan in the second half of 2021 and (ii) US$1.3 million increase in research and development technical service fees. </font>
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          <font style="letter-spacing:0.2pt;">Other Operating Income /(Expenses)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We incurred other operating expenses of US$2.0&#160;million and generated other operating income of US$14.6&#160;million for the years ended December&#160;31, 2020 and 2021, respectively. This change was primarily </font>
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          <font style="letter-spacing:0.2pt;">217</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">attributable to (i)&#160;US$12.3 million increase in net gain on disposal of cryptocurrencies for the year ended December 31, 2021, which is associated with Bitcoin price change prior to such disposal given we typically sell Bitcoins earned from our principal business lines within the next few days, (ii) US$2.9 million decrease in net loss on disposal of mining machine at scrap value, as a result of fewer mining machines disposals in 2021 because the new mining machines we purchased in 2021 were of more recent models and in a more stable condition. and (iii) US$2.0 million write-off of receivables from related parties for the year ended December 31, 2020, compared to nil for the year ended December&#160;31, 2021. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Net Gain/(Loss)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We recorded other net gain of US$2.5&#160;million for the year ended December&#160;31, 2021, compared to other net loss of US$2.6&#160;million for the year ended December&#160;31, 2020. This change was primarily due to (i)&#160;the net gain on settlement of balances between Bitmain of US$4.5 million for the year ended December 31, 2021 compared to nil for the year ended December 31, 2020 and (ii)&#160;an impairment of property, plant and equipment of US$2.2 million for the year ended December 31, 2020, compared to nil for the year ended December 31, 2021, partially offset by the impairment loss of a pre-matured investment of US$2.0 million associated with a forfeited investment project of US$2.0 million for the year ended December 31, 2021, while we did not conduct similar transaction or incur such cost for the year ended December 31, 2020. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Profit/(Loss) from Operations</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As a result of the foregoing, we recorded a loss from operations of US$63.4&#160;million for the year ended December&#160;31, 2020 and a profit from operations of US$130.8&#160;million for the year ended December&#160;31, 2021. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Income Tax Benefit/(Expenses)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">We recorded an income tax benefit of US$8.0&#160;million for the year ended December&#160;31, 2020 and an income tax expenses of US$48.2&#160;million for the year ended December&#160;31, 2021, primarily because we achieved profit before taxation of US$130.9&#160;million for the year ended December&#160;31, 2021, compared to loss before taxation of US$63.8&#160;million for the year ended December&#160;31, 2020. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Net Profit/(Loss)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As a result of the foregoing, we recorded a net loss of US$55.8&#160;million for the year ended December&#160;31, 2020 and a net profit of US$82.6&#160;million for the year ended December&#160;31, 2021. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Comparison of Years Ended December&#160;31, 2019 and 2020</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Revenue</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our revenue increased by 110.0% from US$88.8&#160;million for the year ended December&#160;31, 2019 to US$186.4&#160;million for the year ended December&#160;31, 2020, primarily driven by revenue growth in two of our three major business lines as follows. </font>
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          <font style="letter-spacing:0.2pt;">Revenue generated from proprietary mining increased by 136.2% from US$37.5&#160;million for the year ended December&#160;31, 2019 to US$88.5&#160;million for the year ended December&#160;31, 2020, which was mainly attributable to increase in our proprietary hash rate and the price appreciation of Bitcoin, the most significant type of cryptocurrency involved in our business operation, partially offset by decrease in the number of Bitcoins mined, primarily resulting from the Bitcoin halving event on May 11, 2020. The hash rate allocated to proprietary mining, calculated on a twelve-month average basis, increased from approximately 0.5EH/s for the year ended December&#160;31, 2019 to approximately 2.3EH/s for the year ended December&#160;31, 2020. The average price of Bitcoin for the year ended December&#160;31, 2020 was US$11,057.0 compared to US$7,358.3 for the year ended December&#160;31, 2019, representing an increase of 50.3%, according to Frost &amp; Sullivan. </font>
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          <font style="letter-spacing:0.2pt;">Revenue generated from </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;"> increased by 80.0% from US$43.5&#160;million for the year ended December&#160;31, 2019 to US$78.3&#160;million for the year ended December&#160;31, 2020, which was primarily driven by increase in our hash rate capacity, Bitcoin price appreciation and expansion of our customer base. The hash rate allocated to </font><font style="font-style:italic;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="letter-spacing:0.2pt;">, calculated on a twelve-month average basis, increased </font>
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          <font style="letter-spacing:0.2pt;">218</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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        <div style="margin-left:30pt; text-align:justify; width:426pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">from approximately 0.8EH/s for the year ended December 31, 2019 to approximately 2.1EH/s for the year ended December 31, 2020. The growth in customer base was primarily driven by our increased brand recognition as a result of our expanding scale of operations as well as diverse hash rate subscription plans and high quality hash rate. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cost of Revenue</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our cost of revenue increased by 112.0% from US$98.8&#160;million for the year ended December&#160;31, 2019 to US$209.6&#160;million for the year ended December&#160;31, 2020, primarily driven by increase in (i)&#160;the depreciation of mining machines, (ii)&#160;electricity cost in operating mining machines and (iii)&#160;cost of mining machines sold for the year ended December 31, 2020. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Depreciation of mining machines increased by 147.6% from US$39.6&#160;million for the year ended December&#160;31, 2019 to US$98.1&#160;million for the year ended December&#160;31, 2020. Electricity cost in operating mining machines increased by 91.2% from US$37.7&#160;million for the year ended December&#160;31, 2019 to US$72.1&#160;million for the year ended December&#160;31, 2020. Cost of mining machines sold increased by 225.2% from US$5.4 million for the year ended December 31, 2019 to US$17.5 million for the year ended December 31, 2020. The increases in both depreciation of mining machines and electricity cost in operating mining machines are primarily attributable to the expansion of our hash rate capacity, calculated on a twelve-month average basis, from 51MW on average in the year ended December&#160;31, 2019 to 136MW on average in the year ended December 31, 2020. The increase in cost of mining machines sold was primarily attributable to the increased sales of mining machines. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Selling Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our selling expenses increased by 77.5% from US$3.1&#160;million for the year ended December&#160;31, 2019 to US$5.6&#160;million for the year ended December&#160;31, 2020, primarily due to (i)&#160;the one-off payroll expense to sales personnel as a result of our separation from Bitmain in 2020 and (ii)&#160;the increase in promotional expenses. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">General and Administrative Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our general and administrative expenses increased by 168.5% from US$7.6&#160;million for the year ended December&#160;31, 2019 to US$20.3&#160;million for the year ended December&#160;31, 2020, primarily due to one-off payroll expense to administrative personnel as a result of our separation from Bitmain. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Research and Development Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our research and development expenses increased by 106.3% from US$4.7&#160;million for the year ended December&#160;31, 2019 to US$9.8&#160;million for the year ended December&#160;31, 2020, primarily due to one-off payroll expense as a result of our separation from Bitmain. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Operating Expenses</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our other operating expenses decreased by 66.1% from US$6.0&#160;million for the year ended December&#160;31, 2019 to US$2.0&#160;million for the year ended December&#160;31, 2020, primarily as a result of an increase in net gain on disposal of cryptocurrencies, which is associated with change of price of Bitcoin, the most significant type of cryptocurrency involved in our business operation, prior to such disposal given we typically sell Bitcoins earned from proprietary mining within the next few days. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Net Gain/(Loss)</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We recorded other net gain of US$0.2&#160;million for the year ended December&#160;31, 2019 and other net loss of US$2.6&#160;million for the year ended December&#160;31, 2020. This change was primarily due to an increase in impairment of property, plant and equipment for the year ended December&#160;31, 2020 as we decided to discontinue our construction of a mining datacenter in Washington, United States. </font>
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          <font style="letter-spacing:0.2pt;">Loss from Operations</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As a result of the foregoing, we recorded loss from operations of US$31.3&#160;million and US$63.4&#160;million for the&#160;years ended December&#160;31, 2019 and 2020, respectively. </font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">219</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Income Tax Benefit</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our income tax benefit increased from US$2.9&#160;million for the year ended December&#160;31, 2019 to US$8.0&#160;million for the year ended December&#160;31, 2020, primarily because our loss before taxation increased from US$30.8&#160;million for the year ended December&#160;31, 2019 to US$63.8&#160;million for the year ended December&#160;31, 2020. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Net Loss</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As a result of the foregoing, we recorded a net loss of US$27.9&#160;million and US$55.8&#160;million for the&#160;years ended December&#160;31, 2019 and 2020, respectively. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Liquidity and Capital Resources</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Since our separation from Bitmain, we have financed our operations primarily with cash flow from disposal of cryptocurrencies earned from principal business operations. Our net cash and cash equivalents decreased from US$59.8&#160;million as of December&#160;31, 2019 to US$44.8&#160;million as of December&#160;31, 2020, primarily as a result of our active hash rate expansion in 2020. Our net cash and cash equivalents increased to US$372.1&#160;million as of December&#160;31, 2021, primarily attributable to the increase in adjusted EBITDA, which is a non-IFRS financial measure defined as profit/(loss), adjusted to exclude (i) depreciation and amortization, (ii) income tax expense/(benefit), (iii) interest expense/(income), net, and (iv) share-based payment expenses under IFRS 2. A reconciliation of profit/(loss), the most comparable IFRS measure, to adjusted EBITDA is set forth in &#8220;&#8212; Non-IFRS Financial Measure&#8221; above.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">To date, we have not seen a material impact on our liquidity from events related to the COVID-19 pandemic. We believe that our cash, short-term investment and anticipated cash flow from operations will be sufficient to meet our current and anticipated working capital requirements and capital expenditures for at least the next 18&#160;months from the date of this proxy statement/prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our material cash requirements as of December 31, 2021 and any subsequent interim period primarily include our purchase of plant, property and equipment, lease obligations, and borrowings. Other than those as discussed below, we did not have any significant capital and other commitments, long-term obligations or guarantees as of December 31, 2021. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Purchase of property, plant and equipment.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;"> Purchase of property, plant and equipment primarily consist of the purchase of machinery, equipments and other expenditure associated with mining datacenter construction and operations. The total cash outflow for the purchase of property, plant and equipment were US$11.5 million, US$19.8 million and US$62.4 million for the&#160;years ended 2019, 2020 and 2021. As of December&#160;31, 2021, we had commitments that are scheduled to be paid within 12&#160;months for the construction of mining datacenters of approximately US$48.3 million.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Lease obligations</font><font style="letter-spacing:0.2pt;">.&#8199;&#8199;We occupy most of our office premises and certain mining datacenter under lease arrangements, which generally have an initial lease term between two to seven&#160;years. Lease contracts are typically made for fixed periods but may have extension options. Any extension options in these leases have not been included in the lease liabilities unless the we are reasonably certain to exercise the extension option. Periods after termination options are only included in the lease term if the lease is reasonably certain not to be terminated. The total cash outflow for leases, including the capital element of lease rentals paid and interests paid on leases for the&#160;years ended December&#160;31, 2019, 2020 and 2021 was approximately US$3.9&#160;million, US$5.4&#160;million and US$5.4&#160;million, respectively. As of December 31, 2021, lease liabilities mature based on contractual undiscounted payments within 12 months and over 12 months were US$5.5 million and US$75.0 million, respectively </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Borrowings</font><font style="letter-spacing:0.2pt;">.&#8199;&#8199;Our borrowings as of December 31, 2021 represented a commitment of US$29.5 million relating to the principal amount and interests in connection with the issuance of the Bitdeer Convertible Note, a US$30 million convertible note, on July&#160;23, 2021, bearing an annual interest rate of 8%, which will mature on July&#160;23, 2023</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We intend to fund our existing and future material cash requirements primarily with anticipated cash flows from our principal business operations. However, our future capital requirements will depend on many </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">220</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">factors, including market acceptance of cryptocurrency, our growth, our ability to scale up our infrastructure and hash rate, our ability to effectively control costs, our ability to attract and retain customers, the continuing market acceptance of our offerings, expansion of sales and marketing activities and overall economic conditions. To the extent that current and anticipated future sources of liquidity are insufficient to fund our future business activities and requirements, we may be required to seek additional equity or debt financing. The sale of additional equity would result in additional dilution to our shareholders. The incurrence of debt financing would result in debt service obligations and the instruments governing such debt could provide for operating and financing covenants that would restrict our operations. In the event that additional financing is required from outside sources, there is a possibility we may not be able to raise it on term acceptable to us or at all. If we are unable to raise additional capital when desired, our business, operations and financial condition could be adversely affected. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We have not entered into any financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as shareholder&#8217;s equity or that are not reflected in our financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or product development services with us. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Other than as discussed above, we did not have any significant capital and other commitments, long-term obligations or guarantees as of December&#160;31, 2021. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Cash Flows</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following table presents our combined and consolidated statements of cash flows for the years ended December 31, 2019, 2020 and 2021: </font>
        </div>
        <table style="width:456pt;height:170.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:301.9pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;text-align:center;" colspan="7">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Year Ended</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December 31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:9pt;height:18pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:301.9pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Restated</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Restated</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:39.37pt;vertical-align:top;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:301.9pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:39.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:39.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:39.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:301.9pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net cash generated from operating activities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">31,790 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">63,887 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">454,656 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:301.9pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net cash used in investing activities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">(263,029) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">(110,321) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">(112,553) </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:301.9pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net cash generated from / (used in) financing activities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">226,412 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">30,776 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">(14,426) </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:301.9pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net (decrease) / increase in cash and cash equivalents </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:10pt;letter-spacing:0.2pt;">(4,827) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:5pt;letter-spacing:0.2pt;">(15,658) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">327,677 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:301.9pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash and cash equivalents on January&#160;1 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">65,286 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">59,826 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">44,753 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:301.9pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Effect of movements in exchange rates on cash and cash equivalents </font>
                <br >
                <font style="letter-spacing:0.2pt;">held </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:17.71pt;letter-spacing:0.2pt;">(633) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:24.37pt;letter-spacing:0.2pt;">585 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:17.71pt;letter-spacing:0.2pt;">(342) </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:301.9pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash and cash equivalents on December&#160;31 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">59,826 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:11.66pt;letter-spacing:0.2pt;">44,753</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:39.37pt;">
              <div style="text-align:center;">
                <font style="margin-left:6.66pt;letter-spacing:0.2pt;">372,088</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:10.5pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Operating Activities</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash generated from operating activities was US$454.7&#160;million for the year ended December 31, 2021. The difference between our net profit of US$82.6&#160;million and the net cash generated from operating activities was primarily attributable to (i)&#160;a change in cryptocurrencies of US$492.4&#160;million, (ii)&#160;an adjustment for share-based payment expenses of US$88.4&#160;million, (iii)&#160;an adjustment for depreciation and amortization of US$63.1&#160;million and (iv) an adjustment for income tax expenses of US$48.2 million, partially offset by adjustments for the revenue recognized on acceptance of cryptocurrencies of US$333.7 million. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash generated from operating activities was US$ 63.9&#160;million in the year ended December&#160;31, 2020. The difference between our net loss of US$55.8&#160;million and the net cash generated from operating activities was primarily attributable to (i) a change in cryptocurrencies of US$170.3&#160;million, (ii) an adjustment for depreciation and amortization of US$112.0&#160;million and (iii) a change in mining machines held for sale of US$17.4 million, partially offset by an adjustment for revenue recognized on acceptance of cryptocurrencies of US$170.2 million.</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">221</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash generated from operating activities was US$31.8&#160;million in the year ended December&#160;31, 2019. The difference between our net loss of US$27.9&#160;million and the net cash generated from operating activities was primarily attributable to a change in cryptocurrencies of US$92.1 million and an adjustment for depreciation and amortization of US$47.5 million, partially offset by an adjustment for revenue recognized on acceptance of cryptocurrencies of US$81.3&#160;million. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Investing Activities</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash used in investing activities was US$112.6&#160;million for the year ended December 31, 2021, primarily attributable to (i) purchase of property, plant and equipment and intangible assets of US$62.9&#160;million, (ii)&#160;purchase of cryptocurrencies for loan and investment of US$60.0 million, (iii) loans to related parties of US$32.2&#160;million and (iv) purchase of mining machines of US$26.6 million, partially offset by proceeds from disposal of cryptocurrencies received from return of loan and redemption of investment of US$61.4 million and repayments from related parties of US$21.7 million. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash used in investing activities was US$110.3&#160;million for the year ended December&#160;31, 2020, primarily attributable to (i) loans to related parties of US$161.0&#160;million and (ii) purchase of mining machines of US$124.0&#160;million, partially offset by repayments from related parties of US$194.4 million. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash used in investing activities was US$263.0&#160;million for the year ended December&#160;31, 2019, primarily attributable to (i)&#160;loans to related parties of US$196.9&#160;million, (ii)&#160;purchase of mining machines of US$54.8&#160;million and (iii)&#160;purchase of property, plant and equipment and intangible assets of US$11.5&#160;million. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Financing Activities</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash used in financing activities was US$14.4&#160;million for the year ended December 31, 2021, which was attributable to (i)&#160;repayments of borrowing from related parties of US$29.3 million, (ii) deemed distribution to related parties of US$10.9&#160;million and (iii)&#160;capital element of lease rentals paid of US$4.2&#160;million, offset by proceeds from convertible debt of US$30.0&#160;million. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash generated from financing activities was US$30.8&#160;million for the year ended December&#160;31, 2020, primarily attributable to (i)&#160;capital contribution received from related party of US$420.0&#160;million, as a result of our then-expected spin-off, and (ii)&#160;borrowings from related parties of US$9.2&#160;million, offset by deemed distribution to related parties of US$394.8&#160;million and capital element of lease rentals paid of US$4.5 million. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Net cash generated from financing activities was US$226.4&#160;million for the year ended December&#160;31, 2019, attributable to US$231.7&#160;million deemed contribution from related parties, offset by capital element of lease rentals paid of US$2.9&#160;million and repayments of borrowings from related parties of US$2.3&#160;million. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Quantitative and Qualitative Disclosure about Financial Risk</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our financial risk exposure is primarily the result of cryptocurrency risk, interest rate risk, investment risk, credit risk and liquidity risk. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Cryptocurrency Risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We are exposed to cryptocurrency risk as we yield cryptocurrencies from certain revenue arrangements. We recognize revenue based on the spot fair value of cryptocurrencies on the day they are earned, but the value of the cryptocurrencies is subject to change on the date they are disposed for fiat currency. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrency prices are affected by various forces including global supply and demand, interest rates, exchange rates, inflation or deflation and the global political and economic conditions. Our profitability is highly correlated to the current and future market price of cryptocurrencies; in addition, we may not be able to liquidate its holdings of cryptocurrencies at its desired price if required. A decline in the market prices for cryptocurrencies could negatively impact our future operations. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrencies have a limited history and the fair value historically has been very volatile. Historical performance of cryptocurrencies is not indicative of their future price performance. Our cryptocurrencies </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">222</font>
          <br >
        </div>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">currently primarily consist of Bitcoin. We currently do not use any derivative contracts to hedge its exposure to cryptocurrency risk, but management closely monitors the impact of the mainstream cryptocurrency exchange market on the change of exchange rates from cryptocurrency to fiat currency. We limit our exposure to the cryptocurrency risk by including in its operation strategy to dispose the cryptocurrencies for fiat currency shortly after they are earned. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitcoin and other cryptocurrencies accounted for 0.3%, 1.1% and 1.0% of our total assets as of December&#160;31, 2019, December 31, 2020 and December 31, 2021. Since we dispose cryptocurrencies in a relatively short period of time, a 10% increase or decrease in Bitcoin&#8217;s or other cryptocurrencies&#8217; price as of December&#160;31, 2019, December 31, 2020 and December 31, 2021, respectively, would not have had a material effect on our total assets at these dates.</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Interest Rate Risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our interest rate risk is primarily attributable to bank deposits, restricted cash and borrowings. Bank deposits, restricted cash and borrowings at variable rates and at fixed rates expose us to cash flow interest rate risk and fair value interest rate risk respectively. Management closely monitors the fluctuation of such rates periodically. If the interest rates had been higher or lower by 1% with all other variables including tax rate being held constant, the profit/(loss) before tax would have been higher or lower by US$0.6 million, US$0.5 million, and US$3.5 million for the years ended December 31, 2019, 2020 and 2021, respectively. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Investment Risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We are exposed to investment risk from investment transactions such as the purchase of cryptocurrency- denoted wealth management products. These products are not principal-guaranteed, and we may suffer material loss from such investments. We monitor our investments closely and limit our exposure to the investment risk by including in our operation strategy the requirements to invest only in robust wealth management products and the investments need to be redeemed within the same fiscal quarter. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Foreign Currency Risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We are exposed to foreign currency risk as we conduct transactions which give rise to payables and cash balances that are denominated in foreign currencies and the fair value or future cash flows of our financial instrument may fluctuate due to movement in foreign exchange rates of these foreign currencies. The volatility of exchange rates depends on many factors that we are not able to accurately forecast. Our management is closely monitoring our exposure to currency risk and seeks to minimize its exposure to such risk. We were not exposed to material foreign currency risk during the years ended December 31, 2019, 2020 and 2021. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Credit Risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to us. Credit risk arises mainly from cash deposited in the banks and cryptocurrencies deposited in custody. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To manage risk arising from cash, cash equivalents and restricted cash, we only transact with reputable financial institutions, which have no recent history of default. As such, we are not subject to material credit risk arising from cash, cash equivalents and restricted cash.</font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Substantially all of our cryptocurrencies are stored in wallets held in the custody by Matrix Finance and Technologies Holding Company (&#8220;Matrixport Group&#8221;), a related party. To limit exposure to credit risk relating to cryptocurrencies under custody, we evaluate the system security design of the custody service provider and regularly reviews the exposure of cryptocurrencies held in custody. We have further implemented internal controls to ensure the appropriate access to the cryptocurrencies under custody and adopted the operating strategy of disposing of the cryptocurrency for fiat currency shortly after they are earned. We expect that there is no significant credit risk from non-performance by Matrixport Group. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">However, Bitcoin and other blockchain-based cryptocurrencies have been, and may in the future be, subject to security breaches, cyberattacks, or other malicious activities. A security breach or cyberattack could </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">223</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">result in a partial or total loss of our cryptocurrencies and such a loss could have a material adverse effect on our financial condition and results of operations.</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Liquidity Risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our liquidity risk is minimal. We currently have sufficient reserve of cash. We believe that our cash and cash equivalents and anticipated cash flow from operations will be sufficient to meet our current and anticipated working capital requirements and capital expenditures for at least the next [18] months from the date of this proxy statement/prospectus. We manage our liquidity risk by monitoring cash flow generated from operations, available borrowing capacity, and by managing the maturity profiles of our long-term loans. We expect to continue our low-leverage strategy and plan to lower our liquidity risk by expanding our capital expenditure-light businesses such as </font><font style="font-style:italic;letter-spacing:0.2pt;">Hash Rate Marketplace</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recent Accounting Pronouncements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:7.11pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We adopted the following recently issued or amended standards in the period between January 1, 2020 and December 31, 2021. These new standards are not expected to have any significant impact on our financial statements: </font>
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        <table style="width:456pt;height:75.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Standard/Interpretation </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
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              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Application</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Date of</font>
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                <font style="letter-spacing:-0.16pt;">Standard </font>
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              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Application</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Date for the</font>
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                <font style="letter-spacing:-0.16pt;">Group </font>
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            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:299.7pt;white-space:normal;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, Interest Rate Benchmark Reform&#8201;&#8211;&#8201;Phase 2</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2021 </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2021 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0.917pt 0pt 0.5pt 0pt; width:299.7pt;white-space:normal;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendment to IFRS 16, Covid-19-Related Rent Concessions beyond June 30, 2021</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">April 1, 2021 </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0.917pt 0pt 0.5pt 0pt; width:66.15pt;">
              <font style="letter-spacing:0.2pt;">April 1, 2021</font>
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        <div style="text-indent:20pt; margin-top:6.71pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Up to the date of issue of these financial statements, the IASB has issued a number of amendments and a new standard, IFRS 17, Insurance contracts, which are not yet effective for the year ended December 31, 2021 and have not been adopted in these financial statements. We are in the process of making an assessment of what the impact of these new and amended standards and interpretations would be in the period of initial application. So far it has concluded that the adoption of them is unlikely to have a significant impact on our financial position. </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
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              <div style="text-align:center;">
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                <font style="letter-spacing:-0.16pt;">Date for the</font>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.25pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amendments to IFRS 1, Subsidiary as a First-time Adopter </font>
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            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2022 </font>
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            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amendments to IFRS 9, Derecognition of Financial Liabilities </font>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2022 </font>
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            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amendments to IFRS 3, Reference to the Conceptual Framework </font>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
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                <font style="letter-spacing:0.2pt;">January 1, 2022</font>
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            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use </font>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2022</font>
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                <font style="letter-spacing:0.2pt;">Amendments to IAS 37, Onerous Contracts&#8201;&#8211;&#8201;Cost of Fulfilling a Contract </font>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2022</font>
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            <td style="padding:1.167pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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            <td style="padding:1.167pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 1, Making Materiality Judgement</font>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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            <td style="padding:1.167pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
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            <td style="padding:1.167pt 0pt 0.5pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 8, Definition of Accounting Estimates </font>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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            <td style="padding:1.167pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 12, Deferred Tax related to Assets and Liabilities arising from a Single Transaction </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2023 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:383.85pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Initial Application of IFRS 17 and IFRS 9&#8201;&#8211;&#8201;Comparative Information </font>
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            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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        <div style="margin-top:10.31pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Critical Accounting Policies and Significant Judgments and Estimates</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:7.12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We prepare our combined and consolidated financial statements for the&#160;years ended December&#160;31, 2019, 2020 and 2021 in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;). </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">224</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:220pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In preparing the financial statements, our management has made judgments and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, profit and loss. Estimates and judgments are continuously evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. We make estimates and assumptions concerning the future. The resulting accounting estimates may not be equal to the related actual results. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We believe the accounting policies related to the depreciation of mining machines, cryptocurrency accounting, revenue from the proprietary mining business, income taxes and share-based payments for the years ended December 31, 2019, 2020 and 2021 involve significant judgments and estimates used in the preparation of our financial statements. Our use of judgements and estimates is disclosed in the Note 3 and the related accounting policies are disclosed in Note 2 to the combined and consolidated financial statements included elsewhere in this proxy statement/prospectus. When reviewing our financial statements, you should consider our selection of critical accounting policies, our significant judgments and other uncertainties affecting our applications of those policies and the sensitivity of reported results to changes of such policies, judgments and uncertainties. You should read the descriptions of these significant judgments and estimates in conjunction with other disclosures included in this proxy statement/prospectus. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Emerging Growth Company Status</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We are an &#8220;emerging growth company,&#8221; as defined in the JOBS Act, and we may take advantage of reduced reporting requirements that are otherwise applicable to public companies. Section&#160;107 of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with those standards. The JOBS Act also exempts us from having to provide an auditor attestation of internal control over financial reporting under Sarbanes-Oxley Act Section&#160;404(b). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Holding Company Structure</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Technologies Holding Company is a limited liability company incorporated in the Cayman Islands on November&#160;18, 2020 with no material operations of its own. We currently conduct our operations primarily through our subsidiaries. As a result, Bitdeer&#8217;s ability to pay dividends primarily depends upon dividends paid by our subsidiaries. If our existing subsidiaries or any newly formed ones incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">225</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBOBSB">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:59.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BENEFICIAL OWNERSHIP BSGA SECURITY BEFORE THE BUSINESS COMBINATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following table sets forth information regarding the beneficial ownership of BSGA Ordinary Shares as of December&#160;15, 2021 pre-Business Combination by: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">each person or &#8220;group&#8221; &#8203;(as such term is used in Section&#160;13(d)(3) of the Exchange Act) known by BSGA to be the beneficial owner of more than 5% of BSGA Ordinary Shares as of December&#160;15, 2021 (pre-Business Combination); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">each of BSGA&#8217;s executive officers and directors; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">all of BSGA&#8217;s current executive officers and directors as a group.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of the Record Date, BSGA had 7,537,500 BSGA Ordinary Shares issued and outstanding. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Beneficial ownership is determined in accordance with SEC rules and includes voting or investment power with respect to securities. Except as indicated by the footnotes below, BSGA believes, based on the information furnished to it, that the persons and entities named in the table below have, or will have immediately after the consummation of the Business Combination, sole voting and investment power with respect to all of our ordinary shares that they beneficially own, subject to applicable community property laws. Any ordinary shares subject to options or warrants exercisable within 60&#160;days of the date of this proxy statement/prospectus are deemed to be outstanding and beneficially owned by the persons holding those options or warrants for the purpose of computing the number of shares beneficially owned and the&#160;percentage ownership of that person. They are not, however, deemed to be outstanding and beneficially owned for the purpose of computing the&#160;percentage ownership of any other person. </font>
        </div>
        <table style="width:456pt;height:221.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:173.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Name and Address of Beneficial Owner</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Number of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;B </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Ordinary Shares</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Beneficially</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Owned</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Number of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Ordinary </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Number of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">total </font>
                <br >
                <font style="letter-spacing:-0.16pt;">outstanding </font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary </font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of total </font>
                <br >
                <font style="letter-spacing:-0.16pt;">outstanding </font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary </font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:173.59pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Directors and Executive Officers</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSG First Euro Investment Corp.</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">19.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Alan Yamashita </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Alex Yamashita </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:173.59pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">All executive officers and directors as a group (6 individuals) </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">19.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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              <font style="letter-spacing:-0.2pt;">5.0% Shareholders</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:173.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">BSG First Euro Investment Corp.</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:7.33pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">100.0<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.04pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">19.1<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:10.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:12pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:12pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise noted, the business address of each of the following entities or individuals is Cheung Kong Center, 58 Floor, Unit 5801, 2 Queens Road Central, Central, Hong Kong. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Sponsor is controlled by Christopher Shei. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">226</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tBOOS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">BENEFICIAL OWNERSHIP OF BTG SECURITIES FOLLOWING THE BUSINESS COMBINATION </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The following table sets forth information regarding the expected beneficial ownership of BTG Ordinary Shares immediately following the consummation of the Business Combination by: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">each person who is expected to beneficially own 5.0% or more of the outstanding BTG Ordinary Shares; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">each person who will become an executive officer or director of BTG; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">all of those executive officers and directors of BTG as a group. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Beneficial ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to, or the power to receive the economic benefit of ownership of, the securities. In computing the number of shares beneficially owned by a person and the&#160;percentage ownership of that person, shares that the person has the right to acquire within 60&#160;days are included, including through the exercise of any option or other right or the conversion of any other security. However, these shares are not included in the computation of the&#160;percentage ownership of any other person. Each holder of BTG Class&#160;A Ordinary Shares is entitled to one (1)&#160;vote per share and each holder of BTG Class&#160;V Ordinary Shares is entitled to ten (10) votes per share. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The total number of BTG Ordinary Shares expected to be outstanding after the consummation of the Business Combination will be (i)&#160;assuming a No Redemption Scenario, 393,688,211, consisting of 221,989,385 BTG Class&#160;A Ordinary Shares and 171,698,826 BTG Class&#160;V Ordinary Shares, and (ii)&#160;assuming a Maximum Redemption Scenario , 387,938,211, consisting of 216,239,385 BTG Class&#160;A Ordinary Shares and 171,698,826 BTG Class&#160;V Ordinary Shares. If the actual facts differ from these assumptions, these amounts will differ. </font>
        </div>
      </div>
      <div style="margin-top:12pt;margin-bottom:12pt;margin-left:27.16pt;width:541pt;">
        <table style="width:541pt;height:260.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;height:18.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="7" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Ordinary Shares Beneficially</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Owned as of &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;,2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;" colspan="22">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Ordinary Shares Beneficially Owned Immediately</font>
                <br >
                <font style="letter-spacing:-0.16pt;">After Closing of the Business Combination</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;height:13.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">No Redemption Scenario </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Maximum Redemption Scenario </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:37.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Pre-closing</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary</font>
                <br >
                <font style="letter-spacing:-0.16pt;">share</font>
                <br >
                <font style="letter-spacing:-0.16pt;">equivalents </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:33.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of total</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:38.27pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of voting</font>
                <br >
                <font style="letter-spacing:-0.16pt;">power </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:28.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;A</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:28.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;V</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:33.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of total</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:20.05pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">voting</font>
                <br >
                <font style="letter-spacing:-0.16pt;">power </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:28.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;A</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary</font>
                <br >
                <font style="letter-spacing:-0.16pt;">shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:50.73pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;V</font>
                <br >
                <font style="letter-spacing:-0.16pt;">ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
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              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">% of total</font>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">5.0% Shareholders:</font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:37.33pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:38.27pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:20.05pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:50.73pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:20.05pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Zhaofeng Zhao</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(4)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:37.33pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:38.27pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:50.73pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:20.05pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Yuesheng Ge</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(5)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:37.33pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:38.27pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:50.73pt;">&#8203;</td>
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          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:122.94pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Yishuo Hu</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(6)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:38.27pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:28.16pt;">&#8203;</td>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:50.73pt;">&#8203;</td>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:33.72pt;">&#8203;</td>
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            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:20.05pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:9.99pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:9.99pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The business address for the directors and executive officers of BTG will be 08 Kallang Avenue, Aperia tower 1, #09-03/04, Singapore 339509. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:5.98pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:5.98pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">For each person and group included in this column, the&#160;percentage of voting power is calculated by dividing the voting power beneficially owned by such person or group by the voting power of all of BTG Ordinary Shares as a single class. In respect of matters requiring a shareholder vote, each BTG Class&#160;A Ordinary Shares will be entitled to one vote and each BTG Class&#160;V Ordinary Share will be entitled to </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-weight:normal;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">227</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:528pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ten&#160;(10) votes. Each BTG Class&#160;V Ordinary Share shall automatically convert into one (1)&#160;BTG Class&#160;A Ordinary Share if transferred from a Founder Entity to a non-Founder Entity, except under certain circumstances. </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Represents shares held through Victory Courage Limited </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(4)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Represents shares held through Shinning Stone Invest Co., Ltd. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(5)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Represents shares held through Mega Galaxy International Limited </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(6)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Represents shares held through Golden Navigate Investments Limited </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">228</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCRAR">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BSGA Relationship and Related Party Transactions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Founder Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On February&#160;23, 2021 and March&#160;4, 2021, BSGA&#8217;s Sponsor paid US$25,001, or approximately US$0.017 per share, to cover certain of the offering and formation costs in exchange for an aggregate of 1,437,500 Founder Shares, 187,500 of which are subject to forfeiture depending on the extent to which the underwriters&#8217; over-allotment option is exercised. On June&#160;14, 2021, the underwriter exercised the over-allotment option in full. As a result, the 187,500 Founder Shares that are no longer subject to forfeiture. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Initial Shareholders have agreed not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A)&#160;six&#160;months after the completion of an initial business combination or (B)&#160;the date on which BSGA completes a liquidation, merger, share exchange, reorganization or other similar transaction after the initial business combination that results in all of the public shareholders having the right to exchange their ordinary shares for cash, securities or other property (subject to limited exceptions). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Promissory Note&#8201;&#8212;&#8201;Related Party</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On March&#160;1, 2021, BSGA issued a promissory note to the Sponsor, pursuant to which BSGA may borrow up to an aggregate principal amount of US$200,000. The promissory note is non-interest bearing and payable promptly after the date on which the Maker consummates the IPO of its securities. As of December 31, 2021 and March 31, 2022, BSGA had borrowed US$200,000, under the promissory note. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Due to Related Party</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of March 31, 2022 and December 31, 2021, the balance of amount due to related party was US$384,373 and US$355,863, respectively. The balance of US$384,373 as of March 31, 2022 represented (i)&#160;US$97,333 administrative support service fees for services provided by the Sponsor starting from June&#160;9, 2021, and (ii) US$287,040 accrued expenses paid by the Sponsor on behalf of BSGA. The balance of US$355,863 as of December 31, 2021 represented (i) US$67,333 administrative support service fees for services provided by the Sponsor starting from June 9, 2021, and (ii)&#160;US$288,530 of accrued expenses paid by the Sponsor on behalf of BSGA. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Working Party Loans</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In order to finance transaction costs in connection with an intended initial business combination, the Sponsor or an affiliate of the Sponsor or certain of BSGA&#8217;s officers and directors may, but are not obligated to, loan BSGA funds as may be required (the &#8220;Working Capital Loans&#8221;). If BSGA completes an initial business combination, BSGA would repay the Working Capital Loans. In the event that the initial Business Combination does not close, BSGA may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to US$1,150,000 of the Working Capital Loans may be convertible into&#160;units of the post Business Combination entity at a price of US$10.00 per unit at the option of the lender. The&#160;units would be identical to the Private Placement Units. As of December 31, 2021 and March 31, 2022, no such Working Capital Loans were outstanding. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer Relationships and Related Party Transactions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Employment Agreements and Indemnification Agreements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">See &#8220;Management&#8201;&#8212;&#8201;Employment Agreements and Indemnification Agreements</font><font style="font-style:italic;letter-spacing:0.2pt;">.</font><font style="letter-spacing:0.2pt;">&#8221; </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Share Incentive Plan</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">See &#8220;Management&#8201;&#8212;&#8201;Share Incentive Plan</font><font style="font-style:italic;letter-spacing:0.2pt;">.</font><font style="letter-spacing:0.2pt;">&#8221; </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">229</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Other Related Party Transaction</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Revenue Generated from Bitmain and BTC</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Before the completion date of their respective separations with Bitdeer, Bitdeer generate revenue from Bitmain and BTC from Bitdeer&#8217;s normal course of business. Revenue generated from Bitmain and BTC was approximately US$34.2 million, US$88.1 million and US$73.5 million for the years ended December 31, 2019, 2020 and 2021, respectively. The associated trade receivables as of December 31, 2020 and 2021, respectively, was approximately US$1.6 million and nil.</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Loans to and Borrowings from Bitmain</font>
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          <font style="letter-spacing:0.2pt;">Historically, Bitdeer provided loans to and received borrowings from Bitmain in the years ended December 31, 2019 and 2020 when Bitdeer operated as part of Bitmain. As of December 31, 2020 and 2021, the balance of loans receivable from Bitmain was approximately US$167.0 million and nil, and the borrowings repayable to Bitmain was approximately US$24.8 million and nil, respectively. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Related Party Balances Associated with Bitmain</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Other receivables from and other payables to Bitmain represent primarily the amount due from or due to Bitmain arising from Bitmain&#8217;s business historically recorded and remained on the books of Bitdeer. As of December 31, 2020 and 2021, the balance of other receivables from Bitmain was approximately US$441.1 million and nil, and other payables to Bitmain was approximately US$638.2 million and nil, respectively.</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cryptocurrency Services Provided by Matrixport Group</font>
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          <font style="letter-spacing:0.2pt;">Matrix Finance and Technologies Holding Group and its subsidiaries (&#8220;Matrixport Group&#8221;) are entities over which Bitdeer&#8217;s key management personnel has significant influence. During the years ended December 31, 2019, 2020 and 2021, substantially all of Bitdeer&#8217;s cryptocurrencies were held in custody by Matrixport Group and Bitdeer&#8217;s disposal of cryptocurrencies, at spot price on the date of disposal, was primarily to Matrixport Group. The service fees charged by Martixport Group for the years ended December 31, 2019 and 2020 were immaterial, the service fee charged for the year ended December 31, 2021 was approximately US$0.3 million.</font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Transactions with Matrixport Group</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer provided loans to Matrixport Group which are non-interest bearing and due on demand. As of December 31, 2020 and 2021, the loans receivable from Matrixport Group was approximately US$1.3 million and US$1.1 million, respectively.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In February 2021, Bitdeer signed a loan agreement with Matrixport Group, pursuant to which Bitdeer agreed to grant a revolving line of credit with a maximum amount of US$20,000,000. Charged with an annual interest of 12.5% by Bitdeer, each tranche of credit utilized shall be repaid within 60 days. The credit line has expired and the loan has been fully repaid in June 2021. Bitdeer received an interest of approximately US$0.8 million associated with the loan.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In September 2021, Bitdeer signed a loan agreement with Matrixport Group, pursuant to which Bitdeer agreed to grant a loan of 30 million USDC. The loan bears an annual interest of 8.25% and was due in December 2021. The loan has been fully repaid in December 2021 and Bitdeer received an interest of approximately&#160;US$0.7 million associated with the loan.</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In October&#160;2021, Bitdeer purchased a short-term wealth management product in the amount of 30&#160;million USDT from Matrixport Group. The wealth management product has a term from October&#160;20, 2021 to December&#160;28, 2021 and the realized annual percentage yield is around 13%. The wealth management product was redeemed in December 2021 and Bitdeer earned an income from the wealth management product of approximately US$0.7 million.</font>
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          <font style="letter-spacing:0.2pt;">230</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:-0.2pt;">Related Person Transaction Policy</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Related Person Transaction Policy of Bitdeer</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Bitdeer has adopted a related person transaction policy that sets forth the policies procedures for the identification, review, and approval or ratification of related person transactions. Related person transaction is any transaction involving any &#8220;related person&#8221;, as defined in the policy, and the Company or its subsidiaries. The policy sets forth policies and procedures designed to minimize potential conflicts of interest arising from any dealings it may have with its affiliates and provides appropriate procedures for the disclosure of any real or potential conflicts of interest that may exist from time to time. Specifically, the audit committee is responsible for keeping and updating a list of related persons and the principals of different departments are responsible for identifying and monitoring related party transactions. The policy details the authority of the board of directors and shareholders to review and approve different related party transactions. For any related person transaction with a transactional value no less than US$5&#160;million and accounting for more than 1% of the total audited assets or market value of the most recent audited period, the same committee shall review and submit a written report to the board of directors for review and the transaction shall be approved in shareholding meetings. Directors are required to disclose interests in the related party transaction and only disinterested directors can vote for a related person transaction in a board meeting. The price terms of all related party transactions shall be fair, taking into account prices in the comparable independent third-party market, price terms of non-related party transactions, and relevant cost and revenue. In addition, no loan shall be made to the Company&#8217;s directors, officers or supervisors directly or indirectly. </font>
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          <font style="letter-spacing:0.2pt;">Related Person Transaction Policy of BSGA</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA has adopted a code of ethics requiring it to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved by BSGA Board (or the appropriate committee of BSGA Board) or as disclosed in its public filings with the SEC. Under its code of ethics, conflict of interest situations includes any financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) involving the company. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, BSGA audit committee, pursuant to a written charter that it adopted, is responsible for reviewing and approving related party transactions to the extent that it enters into such transactions. An affirmative vote of a majority of the members of the audit committee present at a meeting at which a quorum is present is required in order to approve a related party transaction. A majority of the members of the entire audit committee constitutes a quorum. Without a meeting, the unanimous written consent of all of the members of the audit committee is required to approve a related party transaction. BSGA also requires each director and executive officer to complete a directors&#8217; and officers&#8217; questionnaire that elicits information about related party transactions. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">These procedures are intended to determine whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part of a director, employee or officer. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">To further minimize conflicts of interest, BSGA has agreed not to consummate an initial business combination with an entity that is affiliated with any of BSGA&#8217;s sponsor, officers or directors unless BSGA, or a committee of independent directors, has obtained an opinion from an independent investment banking firm or another independent firm that commonly renders valuation opinions for the type of company BSGA is seeking to acquire or an independent accounting firm, that the initial business combination is fair to BSGA from a financial point of view. Furthermore, no finder&#8217;s fees, reimbursements or cash payments will be made to BSGA sponsor, officers or directors, or BSGA&#8217;s or their affiliates, for services rendered to BSGA prior to or in connection with the completion of BSGA&#8217;s initial business combination. However, the following payments will be made to BSGA&#8217;s sponsor, officers or directors, or BSGA&#8217;s or their affiliates: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">Repayment of up to an aggregate of up to US$200,000 in loans made to BSGA by its sponsor to cover offering-related and organizational expenses; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">Payment to an affiliate of BSGA&#8217;s sponsor of US$10,000 per month, for up to 12&#160;months (or up to 18&#160;months from the closing of this offering if BSGA extend the period of time to consummate a business combination by the full amount of time), for office space, utilities and secretarial and administrative support; </font>
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          <font style="letter-spacing:0.2pt;">231</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">Repayment of loans which may be made by BSGA&#8217;s sponsor or an affiliate of BSGA&#8217;s sponsor or certain of BSGA&#8217;s officers and directors to finance transaction costs in connection with an intended initial business combination, the terms of which have not been determined nor have any written agreements been executed with respect thereto. Up to US$1,150,000 of such loans may be convertible into&#160;units, at a price of US$10.00 per unit at the option of the lender. </font>
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          <font style="letter-spacing:0.2pt;">BSGA&#8217;s audit committee will review on a quarterly basis all payments that were made to BSGA sponsor, officers or directors, or BSGA&#8217;s or their affiliates.</font>
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          <font style="letter-spacing:0.2pt;">Related Person Transaction Policy of BTG upon Consummation of the Business Combination</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Effective upon the consummation of the Business Combination, BTG expects to adopt a related person transaction policy that sets forth its procedures for the identification, review, consideration and approval or ratification of related person transactions. The policy will become effective upon the consummation of the Business Combination. For purposes of BTG&#8217;s policy only, a related person transaction is a transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which BTG and any related person are, were or will be participants in which the amount involved exceeds the lesser of US$120,000 or one&#160;percent of the average of the company&#8217;s total assets at year end for the last two completed fiscal&#160;years. Transactions involving compensation for services provided to BTG as an employee or director are not covered by this policy. A related person is any executive officer, director or beneficial owner of more than 5% of any class of BTG&#8217;s voting securities and any of their respective immediate family members and any entity owned or controlled by such persons. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under the policy, if a transaction has been identified as a related person transaction, including any transaction that was not a related person transaction when originally consummated or any transaction that was not initially identified as a related person transaction prior to consummation, BTG&#8217;s management must present information regarding the related person transaction to BTG&#8217;s audit committee, or, if audit committee approval would be inappropriate, to another independent body of BTG&#8217;s Board of Directors, for review, consideration and approval or ratification. The presentation must include a description of, among other things, the material facts, the interests, direct and indirect, of the related persons, the benefits to BTG of the transaction and whether the transaction is on terms that are comparable to the terms available to or from, as the case may be, an unrelated third party or to or from employees generally. Under the policy, BTG will collect information that BTG deems reasonably necessary from each director, executive officer and, to the extent feasible, significant shareholder to enable BTG to identify any existing or potential related-person transactions and to effectuate the terms of the policy. In addition, under BTG&#8217;s Code of Conduct that BTG expects to adopt prior to the closing of this Business Combination, BTG&#8217;s employees and directors will have an affirmative responsibility to disclose any transaction or relationship that reasonably could be expected to give rise to a conflict of interest. In considering related person transactions, BTG&#8217;s audit committee, or other independent body of BTG&#8217;s Board of Directors, will take into account the relevant available facts and circumstances including, but not limited to: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the risks, costs and benefits to BTG; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the impact on a director&#8217;s independence in the event that the related person is a director, immediate family member of a director or an entity with which a director is affiliated; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the availability of other sources for comparable services or products; and </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the terms available to or from, as the case may be, unrelated third parties or to or from employees generally. </font>
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          <font style="letter-spacing:0.2pt;">The policy requires that, in determining whether to approve, ratify or reject a related person transaction, BTG&#8217;s audit committee, or other independent body of BTG&#8217;s Board of Directors, must consider, in light of known circumstances, whether the transaction is in, or is not inconsistent with, BTG&#8217;s best interests and those of BTG&#8217;s shareholders, as BTG&#8217;s audit committee, or other independent body of BTG&#8217;s Board of Directors, determines in the good faith exercise of its discretion.</font>
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          <font style="letter-spacing:0.2pt;">232</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDOBS1">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF BTG SECURITIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A summary of the material provisions governing BTG&#8217;s share capital immediately following consummation of the Business Combination is described below. This summary is not complete and should be read together with the Amended BTG Articles, a copy of which is appended to this proxy statement/prospectus as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG is a Cayman Islands exempted company with limited liability and immediately following consummation of the Business Combination its affairs will be governed by the Amended BTG Articles, the Cayman Islands Companies Act, and the common law of the Cayman Islands. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BTG&#8217;s authorized share capital consists of 500,000,000,000 shares of a par value of US$0.0000001 each, consisting of [&#8226;] BTG Class&#160;A Ordinary Shares and [&#8226;] BTG Class&#160;V Ordinary Shares. All BTG Ordinary Shares issued and outstanding at the consummation of the Business Combination will be fully paid and non-assessable. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Amended BTG Articles will become effective upon consummation of the Business Combination. The following are summaries of material provisions of the Amended BTG Articles and the Cayman Islands Companies Act insofar as they relate to the material terms of the BTG Ordinary Shares. </font>
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          <font style="letter-spacing:-0.2pt;">Ordinary Shares</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">General.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Holders of BTG Class&#160;A Ordinary Shares and BTG Class&#160;V Ordinary Shares will generally have the same rights except for voting and conversion rights. BTG will maintain a register of its shareholders. Every shareholder whose name is entered in such register may, without payment and upon written request, request a share certificate within two calendar&#160;months after allotment or lodgement of transfer. </font>
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          <font style="letter-spacing:0.2pt;">Immediately following the consummation of the Business Combination, Mr.&#160;Jihan Wu will control the voting power of all of the outstanding BTG Class&#160;V Ordinary Shares. Upon any transfer of BTG Class&#160;V Ordinary Shares by a holder thereof to any person which is not a Founder Entity, those shares will automatically convert into BTG Class&#160;A Ordinary Shares, except for the deposit by a Founder Entity of BTG Class&#160;V Ordinary Shares to the Depositary in exchange for the issuance of ADSs (which will be subject to transfer restrictions) to such Founder Entity representing such BTG Class&#160;V Ordinary Shares deposited. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Dividends.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;The holders of BTG Ordinary Shares are entitled to such dividends as may be declared by BTG board of directors. In addition, BTG shareholders may declare dividends by ordinary resolution, but no dividend may exceed the amount recommended by BTG directors. Amended BTG Articles provide that the directors may, before recommending or declaring any dividend, set aside out of the funds legally available for distribution such sums as they think proper as a reserve or reserves which shall, in the absolute discretion of the directors, be applicable for meeting contingencies or for equalizing dividends or for any other purpose to which those funds may be properly applied. Under the laws of the Cayman Islands, BTG may pay a dividend out of either profit or the credit standing in BTG&#8217;s share premium account, provided that in no circumstances may a dividend be paid if this would result in BTG being unable to pay its debts as they fall due in the ordinary course of business immediately following the date on which the distribution or dividend is paid. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Voting Rights.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Holders of BTG Ordinary Shares have the right to receive notice of, attend, speak and vote at general meetings of BTG. Holders of BTG Ordinary Shares shall, at all times, vote together as one class on all matters submitted to a vote by the members at any such general meeting, provided that Class&#160;A Ordinary Shares and Class&#160;V Ordinary Shares shall each vote as a separate class on any proposed variation of rights affecting Class&#160;A Ordinary Shares only or Class&#160;V Ordinary Shares only (as the case may be). On all matters subject to a vote at general meetings of BTG, (1)&#160;on a show of hands and/or (2)&#160;on a poll, each BTG shareholder shall be entitled to one vote for each BTG Class&#160;A Ordinary Share and ten (10) votes for each BTG Class&#160;V Ordinary Share of which such shareholder is the holder. Voting at any shareholders&#8217; meeting is by show of hands unless a poll is demanded (before or on the declaration of the result of the show of hands). A poll may be demanded by the chairman of such meeting or any BTG shareholder holding not less than 10% of the votes attaching to the total ordinary shares which are present in person or by proxy at the meeting. </font>
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          <font style="letter-spacing:0.2pt;">An ordinary resolution to be passed at a meeting by the shareholders requires the affirmative vote of a simple majority of the votes of the ordinary shares which are cast by those BTG shareholders who are entitled </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">233</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">to do so attend and vote at the meeting, while a special resolution requires the affirmative vote of no less than two-thirds of the votes of ordinary shares which cast by those BTG shareholders who are entitled to do so attend and vote at the meeting. Under the Companies Act, a special resolution will be required in order for BTG to effect certain important matters as stipulated in the Companies Act, such as a change of name or making changes to Amended BTG Articles. Holders of the BTG Ordinary Shares may, among other things, divide or combine their shares by ordinary resolution. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">General Meetings of Shareholders.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;As a Cayman Islands exempted company, BTG is not obliged by the Companies Act to call shareholders&#8217; annual general meetings. Amended BTG Articles provide that BTG may (but are not obliged to) in each year hold a general meeting as BTG&#8217;s annual general meeting in which case BTG shall specify the meeting as such in the notices calling it, and the annual general meeting shall be held at such time and place as may be determined by BTG directors. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Shareholders&#8217; general meetings may be convened by the chairman of the BTG board of directors or by a majority of BTG board of directors. Advance notice of at least ten (10) calendar days is required for the convening of BTG&#8217;s annual general shareholders&#8217; meeting (if any) and any other general meeting of BTG shareholders. A quorum required for any general meeting of shareholders consists of at least one shareholder present or by proxy, who alone or together hold not less than 50% of all votes attaching to all of BTG Shares in issue and entitled to vote. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Companies Act provides BTG shareholders with only limited rights to requisition a general meeting, and does not provide shareholders with any right to put any proposal before a general meeting. However, these rights may be provided in a company&#8217;s articles of association. Amended BTG Articles provide that upon the requisition of any one or more of BTG shareholders who together hold shares which carry in aggregate not less than one-third of the total number of votes attaching to all issued and outstanding shares of BTG entitled to vote at general meetings, BTG board will be required to convene an Extraordinary General Meeting and put the resolutions so requisitioned to a vote at such meeting. However, Amended BTG Articles do not provide BTG shareholders with any right to put any proposals before annual general meetings or Extraordinary General Meetings not called by such shareholders. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Transfer of Ordinary Shares.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Subject to the restrictions set out below, any of BTG shareholders may transfer all or any of his or her ordinary shares by an instrument of transfer in the usual or common form or any other form approved by BTG board of directors. </font>
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          <font style="letter-spacing:0.2pt;">BTG board of directors may, in its absolute discretion, decline to register any transfer of any ordinary share which is not fully paid up or on which we have a lien. BTG board of directors may also decline to register any transfer of any ordinary share unless: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the instrument of transfer is lodged with BTG, accompanied by the certificate for the ordinary shares to which it relates and such other evidence as BTG board of directors may reasonably require to show the right of the transferor to make the transfer; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the instrument of transfer is in respect of only one class of ordinary shares; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the instrument of transfer is properly stamped, if required; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">in the case of a transfer to joint holders, the number of joint holders to whom the ordinary share is to be transferred does not exceed four; and </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">a fee of such maximum sum as The Nasdaq Global Market may determine to be payable or such lesser sum as BTG directors may from time to time require is paid to BTG in respect thereof. </font>
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          <font style="letter-spacing:0.2pt;">If BTG directors refuse to register a transfer they shall, within three calendar&#160;months after the date on which the instrument of transfer was lodged, send to each of the transferor and the transferee notice of such refusal. </font>
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          <font style="letter-spacing:0.2pt;">The registration of transfers may, after compliance with any notice required of The Nasdaq Global Market, be suspended and the register closed at such times and for such periods as BTG board of directors may from time to time determine, provided, however, that the registration of transfers shall not be suspended nor the register closed for more than 30&#160;days in any year. </font>
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          <font style="letter-spacing:0.2pt;">234</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Liquidation.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;On the winding up of BTG, if the assets available for distribution amongst BTG shareholders shall be more than sufficient to repay the whole of the share capital at the commencement of the winding up, the surplus shall be distributed amongst BTG shareholders in proportion to the par value of the shares held by them at the commencement of the winding up, subject to a deduction from those shares in respect of which there are monies due, of all monies payable to BTG for unpaid calls or otherwise. If BTG&#8217;s assets available for distribution are insufficient to repay the whole of the share capital, the assets will be distributed so that the losses are borne by BTG shareholders in proportion to the par value of the shares held by them. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Calls on Shares and Forfeiture of Shares.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;BTG&#8217;s board of directors may from time to time make calls upon shareholders for any amounts unpaid on their shares in a notice served to such shareholders at least 14&#160;days prior to the specified time and place of payment. The shares that have been called upon and remain unpaid are subject to forfeiture. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Redemption, Repurchase and Surrender of Shares.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;BTG may issue shares on terms that such shares are subject to redemption, at BTG&#8217;s option or at the option of the holders of these shares, on such terms and in such manner as may be determined by BTG board of directors and we may also repurchase any of BTG shares on such terms and in such manner as have been approved by BTG board of directors or by an ordinary resolution of BTG shareholders. Under the Companies Act, the redemption or repurchase of any share may be paid out of BTG&#8217;s profits or out of the proceeds of a fresh issue of shares made for the purpose of such redemption or repurchase, or out of capital (including share premium account and capital redemption reserve) if BTG can, immediately following such payment, pay its debts as they fall due in the ordinary course of business. In addition, BTG may accept the surrender of any fully paid share for no consideration. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Variations of Rights of Shares.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;If at any time BTG&#8217;s share capital is divided into different classes of shares, the rights attached to any class of shares (unless otherwise provided by the terms of issue of the shares of that class), whether or not BTG is being wound-up, may be varied with the consent in writing of the holders of two-thirds of the issued shares of that class or with the sanction of a special resolution passed at a separate meeting of the holders of the shares of the class. The rights conferred upon the holders of the shares of any class issued shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation or issue of further shares ranking </font><font style="font-style:italic;letter-spacing:0.2pt;">pari&#160;passu</font><font style="letter-spacing:0.2pt;"> with or subsequent to such existing class of shares, or the redemption or purchase of any shares of any class by BTG. The rights of the holders of shares shall not be deemed to be varied by the creation or issue of shares with preferred or other rights including, without limitation, the creation of shares with enhanced or weighted voting rights. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Issuance of Additional Shares.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Amended BTG Articles authorizes BTG board of directors to issue additional ordinary shares from time to time as BTG board of directors shall determine, to the extent of available authorized but unissued shares. </font>
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          <font style="letter-spacing:0.2pt;">Amended BTG Articles also authorizes BTG board of directors to establish from time to time one or more series of preferred shares and to determine, with respect to any series of preferred shares, the terms and rights of that series, including: </font>
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          <font style="letter-spacing:0.2pt;">the designation of the series; </font>
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          <font style="letter-spacing:0.2pt;">the number of shares of the series; </font>
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          <font style="letter-spacing:0.2pt;">the dividend rights, dividend rights, conversion rights, voting rights; </font>
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          <font style="letter-spacing:0.2pt;">the rights and terms of redemption and liquidation preferences; and </font>
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          <font style="letter-spacing:0.2pt;">any other powers, preferences and relative, participating, optional and other special rights. </font>
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          <font style="letter-spacing:0.2pt;">BTG board of directors may issue preferred shares without action by BTG shareholders to the extent authorized but unissued. Issuance of these shares may dilute the voting power of holders of ordinary shares. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Inspection of Books and Records.</font><font style="letter-spacing:0.2pt;"> &nbsp;&nbsp;&nbsp;Holders of BTG ordinary shares will have no general right under Cayman Islands law to inspect or obtain copies of BTG&#8217;s corporate records (other than BTG&#8217;s memorandum and articles of association, special resolutions, and BTG&#8217;s register of mortgages and charges). However, we will provide BTG shareholders with annual audited financial statements. See &#8220;Where You Can Find Additional Information. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">235</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Anti-Takeover Provisions.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Some provisions of Amended BTG Articles may discourage, delay or prevent a change of control of BTG or management that shareholders may consider favorable, including provisions that: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">authorize BTG board of directors to issue preferred shares in one or more series and to designate the price, rights, preferences, privileges and restrictions of such preferred shares without any further vote or action by BTG shareholders; and </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">limit the ability of shareholders to requisition and convene general meetings of shareholders. </font>
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          <font style="letter-spacing:0.2pt;">However, under Cayman Islands law, BTG directors may only exercise the rights and powers granted to them under Amended BTG Articles for a proper purpose and for what they believe in good faith to be in the best interests of BTG. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Exempted Company.</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;BTG is an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except that an exempted company: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">does not have to file an annual return of its shareholders with the Registrar of Companies; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">is not required to open its register of members for inspection; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">does not have to hold an annual general meeting; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">may issue negotiable or bearer shares or shares with no par value; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20&#160;years in the first instance); </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">may register as a limited duration company; and </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">may register as a segregated portfolio company. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;Limited liability&#8221; means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil). </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">236</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDOBA">&#8203;</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF BTG&#8217;S AMERICAN DEPOSITARY SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">American Depositary Shares</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Bank of New York Mellon, as depositary, will register and deliver American Depositary Shares, also referred to as ADSs. Each ADS will represent BTG Class&#160;A Ordinary Shares (or a right to receive BTG Class&#160;A Ordinary Shares) deposited with The Hong Kong and Shanghai Banking Corporation Limited, as custodian for the depositary in Hong Kong. Each ADS will also represent any other securities, cash or other property that may be held by the depositary. The deposited shares together with any other securities, cash or other property held by the depositary are referred to as the deposited securities. The depositary&#8217;s office at which the ADSs will be administered and its principal executive office are located at 240 Greenwich Street, New York, New York 10286. </font>
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          <font style="letter-spacing:0.2pt;">You may hold ADSs either (A)&#160;directly (i)&#160;by having an American Depositary Receipt, also referred to as an ADR, which is a certificate evidencing a specific number of ADSs, registered in your name, or (ii)&#160;by having uncertificated ADSs registered in your name, or (B)&#160;indirectly by holding a security entitlement in ADSs through your broker or other financial institution that is a direct or indirect participant in The Depository Trust Company, also called DTC. If you hold ADSs directly, you are a registered ADS holder, also referred to as an ADS holder. This description assumes you are an ADS holder. If you hold the ADSs indirectly, you must rely on the procedures of your broker or other financial institution to assert the rights of ADS holders described in this section. You should consult with your broker or financial institution to find out what those procedures are. </font>
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          <font style="letter-spacing:0.2pt;">Registered holders of uncertificated ADSs will receive statements from the depositary confirming their holdings. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As an ADS holder, we will not treat you as one of our shareholders and you will not have shareholder rights. Cayman Islands law governs shareholder rights. The depositary will be the holder of the shares underlying your ADSs. As a registered holder of ADSs, you will have ADS holder rights. A deposit agreement among us, the depositary, ADS holders and all other persons indirectly or beneficially holding ADSs sets out ADS holder rights as well as the rights and obligations of the depositary. New York law governs the deposit agreement and the ADSs. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following is a summary of the material provisions of the deposit agreement. For more complete information, you should read the entire deposit agreement and the form of ADR. Directions on how to obtain copies of those documents are provided in &#8220;Where You Can Find More Information&#8221; in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus. </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Dividends and Other Distributions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How will you receive dividends and other distributions on the shares?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary has agreed to pay or distribute to ADS holders the cash dividends or other distributions it or the custodian receives on shares or other deposited securities, upon payment or deduction of its fees and expenses. You will receive these distributions in proportion to the number of shares your ADSs represent. </font>
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          <font style="letter-spacing:0.2pt;">Cash</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary will convert any cash dividend or other cash distribution we pay on the shares into U.S. dollars, if it can do so on a reasonable basis and can transfer the U.S. dollars to the United States. If that is not possible or if any government approval is needed and cannot be obtained, the deposit agreement allows the depositary to distribute the foreign currency only to those ADS holders to whom it is possible to do so. It will hold the foreign currency it cannot convert for the account of the ADS holders who have not been paid. It will not invest the foreign currency and it will not be liable for any interest. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Before making a distribution, any withholding taxes, or other governmental charges that must be paid will be deducted. See &#8220;Material Tax Considerations&#8201;&#8212;&#8201; Material U.S. Federal Income Tax Considerations&#8201;&#8212;&#8201; Consequences of Ownership and Disposition of BTG ADSs and BTG Class A Ordinary Shares&#8201;&#8212;&#8201;Taxation of Distributions.&#8221; The depositary will distribute only whole U.S. dollars and cents and will round fractional </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">237</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">cents to the nearest whole cent. </font><font style="font-style:italic;letter-spacing:0.2pt;">If the exchange rates fluctuate during a time when the depositary cannot convert the foreign currency, you may lose some of the value of the distribution.</font><font style="letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Shares</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary may distribute additional ADSs representing any shares we distribute as a dividend or free distribution. The depositary will only distribute whole ADSs. It will sell shares which would require it to deliver a fraction of an ADS (or ADSs representing those shares) and distribute the net proceeds in the same way as it does with cash. If the depositary does not distribute additional ADSs, the outstanding ADSs will also represent the new shares. The depositary may sell a portion of the distributed shares (or ADSs representing those shares) sufficient to pay its fees and expenses in connection with that distribution. </font>
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          <font style="letter-spacing:0.2pt;">Rights to purchase additional shares</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If we offer holders of our securities any rights to subscribe for additional shares or any other rights, the depositary may (i)&#160;exercise those rights on behalf of ADS holders, (ii)&#160;distribute those rights to ADS holders or (iii)&#160;sell those rights and distribute the net proceeds to ADS holders, in each case after deduction or upon payment of its fees and expenses. To the extent the depositary does not do any of those things, it will allow the rights to lapse. In that case, you will receive no value for them. The depositary will exercise or distribute rights only if we ask it to and provide satisfactory assurances to the depositary that it is legal to do so. If the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other Distributions</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary will send to ADS holders anything else we distribute on deposited securities by any means it thinks is legal, fair and practical. If it cannot make the distribution in that way, the depositary has a choice. It may decide to sell what we distributed and distribute the net proceeds, in the same way as it does with cash. Or, it may decide to hold what we distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from us that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. U.S. securities laws may restrict the ability of the depositary to distribute securities to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary is not responsible if it decides that it is unlawful or impractical to make a distribution available to any ADS holders. We have no obligation to register ADSs, shares, rights or other securities under the Securities Act. We also have no obligation to take any other action to permit the distribution of ADSs, shares, rights or anything else to ADS holders. </font><font style="font-style:italic;letter-spacing:0.2pt;">This means that you may not receive the distributions we make on our shares or any value for them if it is illegal or impractical for us to make them available to you</font><font style="letter-spacing:0.2pt;">. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Deposit, Withdrawal and Cancellation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How are ADSs issued?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary will deliver ADSs if you or your broker deposits shares or evidence of rights to receive shares with the custodian. Upon payment of its fees and expenses and of any taxes or charges, such as stamp taxes or stock transfer taxes or fees, the depositary will register the appropriate number of ADSs in the names you request and will deliver the ADSs to or upon the order of the person or persons that made the deposit. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How can ADS holders withdraw the deposited securities?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">You may surrender your ADSs to the depositary for the purpose of withdrawal. Upon payment of its fees and expenses and of any taxes or charges, such as stamp taxes or stock transfer taxes or fees, the depositary will deliver the shares and any other deposited securities underlying the ADSs to the ADS holder or a person </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">238</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">the ADS holder designates at the office of the custodian. Or, at your request, risk and expense, the depositary will deliver the deposited securities at its office, if feasible. However, the depositary is not required to accept surrender of ADSs to the extent it would require delivery of a fraction of a deposited share or other security. The depositary may charge you a fee and its expenses for instructing the custodian regarding delivery of deposited securities. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How do ADS holders interchange between certificated ADSs and uncertificated ADSs?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You may surrender your ADR to the depositary for the purpose of exchanging your ADR for uncertificated ADSs. The depositary will cancel that ADR and will send to the ADS holder a statement confirming that the ADS holder is the registered holder of uncertificated ADSs. Upon receipt by the depositary of a proper instruction from a registered holder of uncertificated ADSs requesting the exchange of uncertificated ADSs for certificated ADSs, the depositary will execute and deliver to the ADS holder an ADR evidencing those ADSs. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Voting Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How do you vote?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ADS holders may instruct the depositary how to vote the number of deposited shares their ADSs represent. If we request the depositary to solicit your voting instructions (and we are not required to do so), the depositary will notify you of a shareholders&#8217; meeting and send or make voting materials available to you. Those materials will describe the matters to be voted on and explain how ADS holders may instruct the depositary how to vote. For instructions to be valid, they must reach the depositary by a date set by the depositary. The depositary will try, as far as practical, subject to the laws of the Cayman Islands and the provisions of our articles of association or similar documents, to vote or to have its agents vote the shares or other deposited securities as instructed by ADS holders. If we do not request the depositary to solicit your voting instructions, you can still send voting instructions, and, in that case, the depositary may try to vote as you instruct, but it is not required to do so. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Except by instructing the depositary as described above, you won&#8217;t be able to exercise voting rights unless you surrender your ADSs and withdraw the shares. However, you may not know about the meeting enough in advance to withdraw the shares. In any event, the depositary will not exercise any discretion in voting deposited securities and it will only vote or attempt to vote as instructed. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We cannot assure you that you will receive the voting materials in time to ensure that you can instruct the depositary to vote the shares represented by your ADSs. In addition, the depositary and its agents are not responsible for failing to carry out voting instructions or for the manner of carrying out voting instructions. This means that you may not be able to exercise voting rights and there may be nothing you can do if the shares represented by your ADSs are not voted as you requested. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In order to give you a reasonable opportunity to instruct the depositary as to the exercise of voting rights relating to Deposited Securities, if we request the Depositary to act, we agree to give the depositary notice of any such meeting and details concerning the matters to be voted upon at least 45&#160;days in advance of the meeting date. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Fees and Expenses</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;margin-bottom:5pt;margin-top:10pt;border-collapse: collapse;font-style:italic;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:italic;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:-0.2pt;">Persons depositing or withdrawing shares or ADS holders must pay:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;white-space:nowrap;">
              <font style="letter-spacing:-0.2pt;">For:</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">US$5.00 (or less) per 100 ADSs (or portion of 100 ADSs) </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:222pt;">
              <div>
                <font style="letter-spacing:0.2pt;">Issuance of ADSs, including issuances resulting from a distribution of shares or rights or other property</font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Cancellation of ADSs for the purpose of withdrawal, including if the deposit agreement terminates </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">239</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">US$.05 (or less) per ADS </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Any cash distribution to ADS holders </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">A fee equivalent to the fee that would be payable if securities distributed to you had been shares and the shares had been deposited for issuance of ADSs </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Distribution of securities distributed to holders of deposited securities (including rights) that are distributed by the depositary to ADS holders </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">US$.05 (or less) per ADS per calendar year </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Depositary services </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Registration or transfer fees </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">Transfer and registration of shares on our share register to or from the name of the depositary or its agent when you deposit or withdraw shares </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Expenses of the depositary </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:222pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">Cable (including SWIFT) and facsimile transmissions (when expressly provided in the deposit agreement)</font>
              </div>
              <div style="margin-top:6pt;">
                <font style="letter-spacing:0.2pt;">Converting foreign currency to U.S. dollars </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Taxes and other governmental charges the depositary or the custodian has to pay on any ADSs or shares underlying ADSs, such as stock transfer taxes, stamp duty or withholding taxes </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">As necessary </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Any charges incurred by the depositary or its agents for servicing the deposited securities </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:222pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">As necessary</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:15.7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary collects its fees for delivery and surrender of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of withdrawal or from intermediaries acting for them. The depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed or by selling a portion of distributable property to pay the fees. The depositary may collect its annual fee for depositary services by deduction from cash distributions or by directly billing investors or by charging the book-entry system accounts of participants acting for them. The depositary may collect any of its fees by deduction from any cash distribution payable (or by selling a portion of securities or other property distributable) to ADS holders that are obligated to pay those fees. The depositary may generally refuse to provide fee-attracting services until its fees for those services are paid. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">From time to time, the depositary may make payments to us to reimburse us for costs and expenses generally arising out of establishment and maintenance of the ADS program, waive fees and expenses for services provided to us by the depositary or share revenue from the fees collected from ADS holders. In performing its duties under the deposit agreement, the depositary may use brokers, dealers, foreign currency dealers or other service providers that are owned by or affiliated with the depositary and that may earn or share fees, spreads or commissions. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary may convert currency itself or through any of its affiliates, or the custodian or we may convert currency and pay U.S. dollars to the depositary. Where the depositary converts currency itself or through any of its affiliates, the depositary acts as principal for its own account and not as agent, advisor, broker or fiduciary on behalf of any other person and earns revenue, including, without limitation, transaction spreads, that it will retain for its own account. The revenue is based on, among other things, the difference between the exchange rate assigned to the currency conversion made under the deposit agreement and the rate that the depositary or its affiliate receives when buying or selling foreign currency for its own account. The depositary makes no representation that the exchange rate used or obtained by it or its affiliate in any currency conversion under the deposit agreement will be the most favorable rate that could be obtained at the time or that the method by which that rate will be determined will be the most favorable to ADS holders, subject to the depositary&#8217;s obligation to act without negligence or bad faith. The methodology used to determine exchange rates used in currency conversions made by the depositary is available upon request. Where the custodian converts currency, the custodian has no obligation to obtain the most favorable rate that could be obtained at the time or to ensure that the method by which that rate will be determined will be the most favorable to ADS holders, and the depositary makes no representation that the rate is the most favorable rate and will not be liable for any direct or indirect losses associated with the rate. In certain instances, the depositary may receive dividends or other distributions from us in U.S. dollars that represent the proceeds of conversion of foreign currency or translation from foreign currency at a rate that was obtained or determined by us and, in such cases, the depositary will not engage in, or be responsible for, any foreign currency transactions and neither it </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">240</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">nor we make any representation that the rate obtained or determined by us is the most favorable rate and neither it nor we will be liable for any direct or indirect losses associated with the rate. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Payment of Taxes</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">You will be responsible for any taxes or other governmental charges payable on your ADSs or on the deposited securities represented by any of your ADSs. The depositary may refuse to register any transfer of your ADSs or allow you to withdraw the deposited securities represented by your ADSs until those taxes or other charges are paid. It may apply payments owed to you or sell deposited securities represented by your ADSs to pay any taxes owed and you will remain liable for any deficiency. If the depositary sells deposited securities, it will, if appropriate, reduce the number of ADSs to reflect the sale and pay to ADS holders any proceeds, or send to ADS holders any property, remaining after it has paid the taxes. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Tender and Exchange Offers; Redemption, Replacement or Cancellation of Deposited Securities</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary will not tender deposited securities in any voluntary tender or exchange offer unless instructed to do so by an ADS holder surrendering ADSs and subject to any conditions or procedures the depositary may establish. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If deposited securities are redeemed for cash in a transaction that is mandatory for the depositary as a holder of deposited securities, the depositary will call for surrender of a corresponding number of ADSs and distribute the net redemption money to the holders of called ADSs upon surrender of those ADSs. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If there is any change in the deposited securities such as a sub-division, combination or other reclassification, or any merger, consolidation, recapitalization or reorganization affecting the issuer of deposited securities in which the depositary receives new securities in exchange for or in lieu of the old deposited securities, the depositary will hold those replacement securities as deposited securities under the deposit agreement. However, if the depositary decides it would not be lawful and practical to hold the replacement securities because those securities could not be distributed to ADS holders or for any other reason, the depositary may instead sell the replacement securities and distribute the net proceeds upon surrender of the ADSs. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If there is a replacement of the deposited securities and the depositary will continue to hold the replacement securities, the depositary may distribute new ADSs representing the new deposited securities or ask you to surrender your outstanding ADSs in exchange for new ADSs identifying the new deposited securities. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If there are no deposited securities underlying ADSs, including if the deposited securities are canceled, or if the deposited securities underlying ADSs have become apparently worthless, the depositary may call for surrender of those ADSs or cancel those ADSs upon notice to the ADS holders. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Amendment and Termination</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:11.62pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How may the deposit agreement be amended?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may agree with the depositary to amend the deposit agreement and the ADRs without your consent for any reason. If an amendment adds or increases fees or charges, except for taxes and other governmental charges or expenses of the depositary for registration fees, facsimile costs, delivery charges or similar items, or prejudices a substantial right of ADS holders, it will not become effective for outstanding ADSs until 30&#160;days after the depositary notifies ADS holders of the amendment. </font><font style="font-style:italic;letter-spacing:0.2pt;">At the time an amendment becomes effective, you are considered, by continuing to hold your ADSs, to agree to the amendment and to be bound by the ADRs and the deposit agreement as amended</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">How may the deposit agreement be terminated?</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depositary will initiate termination of the deposit agreement if we instruct it to do so. The depositary may initiate termination of the deposit agreement if </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">60&#160;days have passed since the depositary told us it wants to resign but a successor depositary has not been appointed and accepted its appointment; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">241</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">we delist the ADSs from an exchange in the United States on which they were listed and do not list the ADSs on another exchange in the United States or make arrangements for the trading of ADSs on the U.S. over-the-counter market; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">we delist our shares from an exchange outside the United States on which they were listed and do not list the shares on another exchange outside the United States; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the depositary has reason to believe the ADSs have become, or will become, ineligible for registration on Form F-6 under the Securities Act of 1933; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">we appear to be insolvent or enter insolvency proceedings; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">all or substantially all the value of the deposited securities has been distributed either in cash or in the form of securities; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">there are no deposited securities underlying the ADSs or the underlying deposited securities have become apparently worthless; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">there has been a replacement of deposited securities. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If the deposit agreement will terminate, the depositary will notify ADS holders at least 90&#160;days before the termination date. At any time after the termination date, the depositary may sell the deposited securities. After that, the depositary will hold the money it received on the sale, as well as any other cash it is holding under the deposit agreement, unsegregated and without liability for interest, for the </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">pro&#160;rata</font><font style="letter-spacing:0.2pt;"> benefit of the ADS holders that have not surrendered their ADSs. Normally, the depositary will sell as soon as practicable after the termination date. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">After the termination date and before the depositary sells, ADS holders can still surrender their ADSs and receive delivery of deposited securities, except that the depositary may refuse to accept a surrender for the purpose of withdrawing deposited securities or reverse previously accepted surrenders of that kind that have not settled if it would interfere with the selling process. The depositary may refuse to accept a surrender for the purpose of withdrawing sale proceeds until all the deposited securities have been sold. The depositary will continue to collect distributions on deposited securities, </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">but</font><font style="letter-spacing:0.2pt;">, after the termination date, the depositary is not required to register any transfer of ADSs or distribute any dividends or other distributions on deposited securities to the ADSs holder (until they surrender their ADSs) or give any notices or perform any other duties under the deposit agreement except as described in this paragraph. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Limitations on Obligations and Liability</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Limits on our Obligations and the Obligations of the Depositary; Limits on Liability to Holders of ADSs</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The deposit agreement expressly limits our obligations and the obligations of the depositary. It also limits our liability and the liability of the depositary. We and the depositary: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">are only obligated to take the actions specifically set forth in the deposit agreement without negligence or bad faith, and the depositary will not be a fiduciary or have any fiduciary duty to holders of ADSs; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">are not liable if we are or it is prevented or delayed by law or by events or circumstances beyond our or its ability to prevent or counteract with reasonable care or effort from performing our or its obligations under the deposit agreement; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">are not liable if we or it exercises discretion permitted under the deposit agreement; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">are not liable for the inability of any holder of ADSs to benefit from any distribution on deposited securities that is not made available to holders of ADSs under the terms of the deposit agreement, or for any special, consequential or punitive damages for any breach of the terms of the deposit agreement; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">have no obligation to become involved in a lawsuit or other proceeding related to the ADSs or the deposit agreement on your behalf or on behalf of any other person; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">may rely upon any documents we believe or it believes in good faith to be genuine and to have been signed or presented by the proper person; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">242</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">are not liable for the acts or omissions of any securities depository, clearing agency or settlement system; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the depositary has no duty to make any determination or provide any information as to our tax status, or any liability for any tax consequences that may be incurred by ADS holders as a result of owning or holding ADSs or be liable for the inability or failure of an ADS holder to obtain the benefit of a foreign tax credit, reduced rate of withholding or refund of amounts withheld in respect of tax or any other tax benefit. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In the deposit agreement, we and the depositary agree to indemnify each other under certain circumstances. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Requirements for Depositary Actions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Before the depositary will deliver or register a transfer of ADSs, make a distribution on ADSs, or permit withdrawal of shares, the depositary may require: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">payment of stock transfer or other taxes or other governmental charges and transfer or registration fees charged by third parties for the transfer of any shares or other deposited securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">satisfactory proof of the identity and genuineness of any signature or other information it deems necessary; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">compliance with regulations it may establish, from time to time, consistent with the deposit agreement, including presentation of transfer documents. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The depositary may refuse to deliver ADSs or register transfers of ADSs when the transfer books of the depositary or our transfer books are closed or at any time if the depositary or we think it advisable to do so. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Your Right to Receive the Shares Underlying your ADSs</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ADS holders have the right to cancel their ADSs and withdraw the underlying shares at any time except: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">when temporary delays arise because: (i)&#160;the depositary has closed its transfer books or we have closed our transfer books; (ii)&#160;the transfer of shares is blocked to permit voting at a shareholders&#8217; meeting; or (iii)&#160;we are paying a dividend on our shares; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">when you owe money to pay fees, taxes and similar charges; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">when it is necessary to prohibit withdrawals in order to comply with any laws or governmental regulations that apply to ADSs or to the withdrawal of shares or other deposited securities. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This right of withdrawal may not be limited by any other provision of the deposit agreement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Direct Registration System</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In the deposit agreement, all parties to the deposit agreement acknowledge that the Direct Registration System, also referred to as DRS, and Profile Modification System, also referred to as Profile, will apply to the ADSs. DRS is a system administered by DTC that facilitates interchange between registered holding of uncertificated ADSs and holding of security entitlements in ADSs through DTC and a DTC participant. Profile is a feature of DRS that allows a DTC participant, claiming to act on behalf of a registered holder of uncertificated ADSs, to direct the depositary to register a transfer of those ADSs to DTC or its nominee and to deliver those ADSs to the DTC account of that DTC participant without receipt by the depositary of prior authorization from the ADS holder to register that transfer. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In connection with and in accordance with the arrangements and procedures relating to DRS/Profile, the parties to the deposit agreement understand that the depositary will not determine whether the DTC participant that is claiming to be acting on behalf of an ADS holder in requesting registration of transfer and delivery as described in the paragraph above has the actual authority to act on behalf of the ADS holder (notwithstanding any requirements under the Uniform Commercial Code). In the deposit agreement, the parties agree that the depositary&#8217;s reliance on and compliance with instructions received by the depositary </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">243</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:376pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">through the DRS/Profile system and in accordance with the deposit agreement will not constitute negligence or bad faith on the part of the depositary. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Shareholder Communications; Inspection of Register of Holders of ADSs</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The depositary will make available for your inspection at its office all communications that it receives from us as a holder of deposited securities that we make generally available to holders of deposited securities. The depositary will send you copies of those communications or otherwise make those communications available to you if we ask it to. You have a right to inspect the register of holders of ADSs, but not for the purpose of contacting those holders about a matter unrelated to our business or the ADSs. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Jury Trial Waiver</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The deposit agreement provides that, to the extent permitted by law, ADS holders waive the right to a jury trial of any claim they may have against us or the depositary arising out of or relating to our shares, the ADSs or the deposit agreement, including any claim under the U.S. federal securities laws. If we or the depositary opposed a jury trial demand based on the waiver, the court would determine whether the waiver was enforceable in the facts and circumstances of that case in accordance with applicable case law. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You will not, by agreeing to the terms of the deposit agreement, be deemed to have waived our or the depositary&#8217;s compliance with U.S. federal securities laws or the rules and regulations promulgated thereunder. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">244</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCOCG">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMPARISON OF CORPORATE GOVERNANCE AND SHAREHOLDER RIGHTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This section describes the material differences between the rights of BSGA Shareholders before the consummation of the Business Combination, and the rights of BTG shareholders after the Business Combination. These differences in shareholder rights result from the differences between the respective governing documents of BSGA and BTG. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This section does not include a complete description of all differences among such rights, nor does it include a complete description of such rights. Furthermore, the identification of some of the differences of these rights as material is not intended to indicate that other differences that may be equally important do not exist. BSGA Shareholders are urged to carefully read the relevant provisions of the Amended BTG Articles that will be in effect as of consummation of the Business Combination (which form is included as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annex B</font><font style="letter-spacing:0.2pt;"> to this proxy statement/prospectus). References in this section to the Amended BTG Articles are references thereto as they will be in effect upon consummation of the Business Combination. However, the Amended BTG Articles may be amended at any time prior to consummation of the Business Combination by mutual agreement of BSGA and Bitdeer or after the consummation of the Business Combination by amendment in accordance with their terms. If the Amended BTG Articles are amended, the below summary may cease to accurately reflect the Amended BTG Articles as so amended. </font>
        </div>
        <table style="width:456pt;margin-bottom:5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BTG </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Authorized Share Capital</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">BSGA is authorized to issue a maximum of 111,000,000 shares with no par value divided into three classes of shares as follows: (a) 100,000,000 Class A Ordinary Shares; (b) 10,000,000 Class B Ordinary Shares with no par value; and (c) 1,000,000 Preferred Shares with no par value.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The authorized share capital of BTG is US$50,000 divided into 500,000,000,000 shares of a par value of US$0.0000001 each comprising: Class&#160;A Ordinary Shares of a par value of US$0.0000001 each, Class&#160;V Ordinary Shares of a par value of US$0.0000001 each, and undesignated shares of a par value of US$0.0000001 each. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Rights of Preference Shares</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Without prejudice to any special rights previously conferred on the holders of any existing Preferred Shares, any Preferred Shares may be issued with such preferred, deferred or other special rights or such restrictions, whether in regard to dividend, voting or otherwise as the directors may from time to time determine subject to Regulation 24.7 of the Existing BSGA Articles.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The Directors may issue from time to time, out of the authorized share capital of BTG (other than the authorized but unissued ordinary shares), series of preferred shares in their absolute discretion and without approval of the members. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Number and Qualification of Directors</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The minimum number of directors shall be one and there shall be no maximum number of directors. A director is not required to hold a share as a qualification to office.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Unless otherwise determined by BTG in general meeting, the number of directors shall be no less than three (3) and no more than twelve (12). A director shall not be required to hold any shares in BTG by way of qualification. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Election/Removal of Directors</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Prior to the closing of a Business Combination, the directors shall be elected or removed by Resolution of Members (as defined in the Existing BSGA Articles) of the Class B Ordinary Shares for such term as the shareholders determine. Prior to the closing of a Business Combination holders of Class A Ordinary Shares or the directors shall have no right to vote on the appointment or removal of any director. After the closing of a Business Combination, the directors shall be elected or removed by Resolution of Members or by Resolution of Directors (as defined in the Existing BSGA Articles).</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;text-align:left;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">BTG may by Ordinary Resolution appoint any person to be a director.</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">The board may, by the affirmative vote of a simple majority of the directors present and voting at a board meeting, appoint any person as a director, to fill a casual vacancy on the board or as an addition to the existing board.</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">A Director may be removed from office by Ordinary Resolution. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">245</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
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              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BTG </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Voting</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Cumulative Voting</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Holders of BSGA Ordinary Shares will not have cumulative voting rights.</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Holders of BTG Ordinary Shares will not have cumulative voting rights. </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Vacancies on the Board of Directors</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">A vacancy in relation to directors occurs if a director dies or otherwise ceases to hold office prior to the expiration of his term of office.</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:222pt;text-align:left;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The office of director shall be vacated, if the director:</font>
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              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(a) becomes bankrupt or makes any arrangement or composition with his creditors;</font>
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              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(b) dies or is found to be or becomes of unsound mind;</font>
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                <font style="letter-spacing:0.2pt;">(c) resigns his office by notice in writing to the BTG;</font>
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              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(d) without special leave of absence from the board, is absent from meetings of the board for three consecutive meetings and the board resolves that his office be vacated; or</font>
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              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(e) is removed from office pursuant to the provisions summarized in the third paragraph under &#8220;Election/</font>&#8203;<font style="letter-spacing:0.2pt;">Removal of Directors&#8221; above. </font></div>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Amendment to Articles of Association</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">BSGA may amend its memorandum of association (the &#8220;Memorandum&#8221;) or the Existing BSGA Articles by a Resolution of Members or by a Resolution of Directors, save that no amendment may be made by a Resolution of Directors: </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(a) to restrict the rights or powers of the shareholders to amend the Memorandum or the Existing BSGA Articles; </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(b) to change the percentage of shareholders required to pass a Resolution of Members to amend the Memorandum or the Existing BSGA Articles; </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(c) in circumstances where the Memorandum or the Existing BSGA Articles cannot be amended by the shareholders; or </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(d) to change Clauses 7 or 8 or 11 of the Memorandum or Regulation 24 of the Existing BSGA Articles (or any of the defined terms used in any such Clause or Regulation).</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Notwithstanding the above, no amendment may be made to the Memorandum or the Existing BSGA Articles to amend: </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(a) Regulation 24 of the Existing BSGA Articles prior to the Business Combination unless the holders of the Public Shares (as defined Existing BSGA Articles) are provided with the opportunity to redeem their Public Shares upon the approval of any such amendment in the manner and for the price as set out in Regulation 24.11 of the Existing BSGA Articles; or</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Subject to the Companies Act, BTG may at any time and from time to time by special resolution (as defined by the Cayman Islands Companies Act) alter or amend these Articles in whole or in part. </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">246</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BTG </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">(b) Clause 11.2 of the Memorandum during the Target Business Acquisition Period (as defined in the Existing BSGA Articles).</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Quorum</font>
              </div>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">A shareholder meeting is duly constituted if, at the commencement of the meeting, there are present in person or by proxy not less than 50 percent of the votes of the shares entitled to vote at the meeting.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">No business except for the appointment of a chairman for the meeting shall be transacted at any general meeting unless a quorum of shareholders is present at the time when the meeting proceeds to business. One or more shareholders holding shares which carry in aggregate (or representing by proxy) not less than fifty&#160;percent (50%) of all votes attaching to all shares in issue and entitled to vote at such general meeting, present at the meeting, shall be a quorum for all purposes. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Shareholder Meetings</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Any director may convene shareholder meetings at such times and in such manner and places within or outside the British Virgin Islands as the director considers necessary or desirable. Following consummation of the Business Combination, an annual general meeting shall be held annually at such date and time as may be determined by the directors. Upon the written request of the shareholders entitled to exercise 30 percent or more of the voting rights in respect of the matter for which the meeting is requested the directors shall convene a meeting of shareholders.</font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">BTG may (but shall not be obliged to) in each calendar year hold a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it. The annual general meeting shall be held at such time and place as may be determined by the directors. The chairman or a majority of the directors may call general meetings, and they shall on a shareholders&#8217; requisition forthwith proceed to convene an Extraordinary General Meeting of BTG. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Notice of Shareholder Meetings</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The director convening a meeting of shareholders shall give not less than 10 nor more than 60 days&#8217; written notice of such meeting to: (a) those shareholders whose names on the date the notice is given appear as shareholders in the share register of BSGA and are entitled to vote at the meeting; and (b) the other directors.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;text-align:left;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">At least ten (10) calendar days&#8217; notice shall be given for any general meeting. Every notice shall be exclusive of the day on which it is given or deemed to be given and of the day for which it is given and shall specify the place (except in the case of a virtual meeting), the day and the hour of the meeting and the general nature of the business and shall be given in the manner hereinafter mentioned or in such other manner if any as may be prescribed by BTG, provided that a general meeting of BTG shall be deemed to have been duly convened if it is so agreed:</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(a) in the case of an annual general meeting, by all the shareholders (or their proxies) entitled to attend and vote thereat; and</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(b) in the case of an Extraordinary General Meeting, by two-thirds (2/3) of the shareholders having a right to attend and vote at the meeting, present at the meeting. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Indemnification, liability insurance of Directors and Officers</font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Subject to the limitations provided in the Existing BSGA Articles, BSGA shall indemnify, hold harmless and exonerate against all direct and indirect costs, fees and Expenses (as defined in the Existing BSGA Articles) of any type or nature whatsoever, any person</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Every director, secretary, assistant secretary, or other officer for the time being and from time to time of BTG (but not including BTG&#8217;s auditors) and the personal representatives of the same (each an &#8220;Indemnified Person&#8221;) shall be indemnified and </font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">247</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BTG </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">(each an &#8220;Indemnitee&#8221;) who: (a) is or was a party or is threatened to be made a party to any Proceeding (as defined in the Existing BSGA Articles) by reason of the fact that such person is or was a director, officer, key employee, adviser of BSGA or who at the request of BSGA; or (b) is or was, at the request of BSGA, serving as a director of, or in any other capacity is or was acting for, another Enterprise (as defined in the Existing BSGA Articles). </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">The indemnity above only applies if the relevant Indemnitee acted honestly and in good faith with a view to the best interests of BSGA and, in the case of criminal proceedings, the Indemnitee had no reasonable cause to believe that his conduct was unlawful.</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">secured harmless against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by such Indemnified Person, other than by reason of such Indemnified Person&#8217;s own dishonesty, willful default or fraud, in or about the conduct of BTG&#8217;s business or affairs (including as a result of any mistake of judgment) or in the execution or discharge of his duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such Indemnified Person in defending (whether successfully or otherwise) any civil proceedings concerning BTG or its affairs in any court whether in the Cayman Islands or elsewhere. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Dividends</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Subject to the Business Combination Articles (as defined in the Existing BSGA Articles), the directors may, by Resolution of Directors, authorize a distribution at a time and of an amount they think fit if they are satisfied, on reasonable grounds, that, immediately after the distribution, the value of BSGA&#8217;s assets will exceed its liabilities and BSGA will be able to pay its debts as and when they fall due. </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Dividends may be paid in money, shares, or other property. </font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">BSGA may, by Resolution of Directors, from time to time pay to the shareholders such interim dividends as appear to the directors to be justified by the profits of BSGA, provided always that they are satisfied, on reasonable grounds, that, immediately after the distribution, the value of BSGA&#8217;s assets will exceed its liabilities and BSGA will be able to pay its debts as andwhen they fall due.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Subject to any rights and restrictions for the time being attached to any shares, the directors may from time to time declare dividends (including interim dividends) and other distributions on shares in issue and authorize payment of the same out of the funds of BTG lawfully available therefor. Subject to any rights and restrictions for the time being attached to any shares, BTG by ordinary resolution may declare dividends, but no dividend shall exceed the amount recommended by the directors. Any dividend payable in cash to the holder of shares may be paid in any manner determined by the directors. </font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Winding up</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">BSGA may by a Resolution of Members or by a Resolution of Directors appoint a voluntary liquidator.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;text-align:left;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">If BTG shall be wound up the liquidator may, with the sanction of a special resolution and any other sanction required by the Companies Act, divide amongst the members in specie or in kind the whole or any part of the assets of BTG (whether they shall consist of property of the same kind or not) and may for that purpose value any assets and determine how the division shall be carried out as between the members or different classes of members. The liquidator may, with the like sanction, vest the whole or any part of such assets in trustees upon such trusts for the benefit of the members as the liquidator, with the like sanction, shall think fit, but so that no member shall be compelled to accept any asset upon which there is a liability.</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">If BTG shall be wound up, and the assets available for </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">248</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BSGA </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">BTG </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">distribution amongst the members shall be insufficient to repay the whole of the share capital, such assets shall be distributed so that, as nearly as may be, the losses shall be borne by the members in proportion to the par value of the shares held by them. If in a winding up the assets available for distribution amongst the members shall be more than sufficient to repay the whole of the share capital at the commencement of the winding up, the surplus shall be distributed amongst the members in proportion to the par value of the shares held by them at the commencement of the winding up subject to a deduction from those shares in respect of which there are monies due, of all monies payable to BTG for unpaid calls or otherwise. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Supermajority Voting Provisions</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">None.</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;white-space:normal;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">A special resolution, requiring the affirmative vote of a majority of at least two-thirds of such members as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of which notice specifying the intention to propose the resolution as a special resolution has been duly given, is required to:</font>
              </div>
              <div style="margin-top:3pt;">
                <font style="letter-spacing:0.2pt;">(a) alter or amend the Amended BTG Articles;</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(b) fix and determine the variations in the relative rights (including, without limitation, voting, dividend and redemption rights), restrictions, preferences, privileges and payment obligations as between the different classes;</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(c) modify the rights attached to any such class whenever the capital of BTG is divided into different classes;</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(d) change BTG&#8217;s registration to a jurisdiction outside the Cayman Islands;</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(e) reduce BTG&#8217;s share capital and any capital redemption reserve; and</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">(f) in a winding up, direct the liquidator to divide amongst the shareholders the assets of BTG, value the assets for that purpose and determine how the division will be carried out between the shareholders or different classes of shareholders. </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; width:0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">Anti-Takeover Provisions</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Without prejudice to any special rights previously conferred on the holders of any existing Preferred Shares, any Preferred Shares may be issued with such preferred, deferred or other special rights or such restrictions, whether in regard to dividend, voting or otherwise as the directors may from time to time determine subject to Regulation 24.7 of the Existing BSGA Articles.</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">The provision of the Amended BTG Articles authorizes the board of directors to issue and set the voting and other rights of preferred shares from time to time in their absolute discretion and without approval of the members.</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">249</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tSEFF">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">SHARE ELIGIBLE FOR FUTURE SALE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Upon the consummation of the Business Combination, BTG will have, based on the assumptions set out elsewhere in this proxy statement/prospectus, up to 393,688,211 BTG Ordinary Shares issued and outstanding, consisting of 221,989,385 BTG Class&#160;A Ordinary Shares and 171,698,826 BTG Class&#160;V Ordinary Shares. All of the BTG Class&#160;A Ordinary Shares issued to the BSGA Shareholders in connection with the Business Combination will be freely transferable by persons other than by Sponsor or BSGA&#8217;s, BTG&#8217;s or Bitdeer&#8217;s affiliates without restriction or further registration under the Securities Act. Additionally, the Bitdeer shareholders will receive 213,847,635 BTG Class&#160;A Ordinary Shares, approximately 54.3% of which will be freely transferable immediately after the consummation of the Business Combination. Sales of substantial amounts of the BTG Class&#160;A Ordinary Shares in the public market could adversely affect prevailing market prices of the BTG Class&#160;A Ordinary Shares. Prior to the Business Combination, there has been no public market for BTG Class&#160;A Ordinary Shares. BTG has applied for listing of the BTG Class&#160;A Ordinary Shares on Nasdaq, but there can be no assurance that a regular trading market will develop in the BTG Class&#160;A Ordinary Shares. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Lock-up Agreements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer has agreed to cause substantial shareholders of Bitdeer to enter into a lock-up agreement for a period of 180&#160;days after the consummation of the Business Combination, not to offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, any of the lock-up shares, enter into a transaction that would have the same effect, or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences of ownership of such lock-up securities, whether any of these transactions are to be settled by delivery of any such lock-up shares, in cash or otherwise, publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement, or engage in any short sales with respect to any security of BTG. The lock-up agreement shall contain an early release mechanism where 5% of the lock-up shares shall be released prior to the expiration of the 180-day period if certain conditions are met. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Rule&#160;144</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to Rule&#160;144 under the Securities Act (&#8220;Rule&#160;144&#8221;), a person who has beneficially owned restricted BTG Ordinary Shares for at least six&#160;months would be entitled to sell their securities; provided that (i)&#160;such person is not deemed to have been one of BTG&#8217;s affiliates at the time of, or at any time during the three&#160;months preceding, a sale and (ii)&#160;BTG is subject to the Exchange Act periodic reporting requirements for at least three&#160;months before the sale and have filed all required reports under Section&#160;13 or 15(d) of the Exchange Act during the 12&#160;months (or such shorter period as it was required to file reports) preceding the sale. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Persons who have beneficially owned restricted BTG Ordinary Shares for at least six&#160;months but who are BTG&#8217;s affiliates at the time of, or at any time during the three&#160;months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">one&#160;percent (1%) of the total number of BTG Ordinary Shares then issued and outstanding; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the average weekly reported trading volume of the BTG Class&#160;A Ordinary Shares during the four calendar weeks preceding the filing of a notice on Form 144 with respect to the sale. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Sales by BTG&#8217;s affiliates under Rule&#160;144 are also limited by manner of sale provisions and notice requirements and to the availability of current public information about BTG. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Restrictions on the Use of Rule&#160;144 by Shell Companies or Former Shell Companies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Rule&#160;144 is not available for the resale of securities initially issued by shell companies (other than business combination related shell companies) or issuers that have been at any time previously a shell company. However, Rule&#160;144 also includes an important exception to this prohibition if the following conditions are met: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the issuer of the securities that was formerly a shell company has ceased to be a shell company; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">250</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:520pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the issuer of the securities is subject to the reporting requirements of Section&#160;13 or 15(d) of the Exchange Act; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12&#160;months (or such shorter period that the issuer was required to file such reports and materials); and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">at least one year has elapsed from the time that the issuer filed Form 20-F type information with the SEC, which is expected to be filed promptly after consummation of the Business Combination, reflecting its status as an entity that is not a shell company. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">251</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tPROS">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:116pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PRICE RANGE OF SECURITIES AND DIVIDENDS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA Units, BSGA Class A Ordinary Shares and BSGA Rights are each traded on Nasdaq under the symbols &#8220;BSGAU,&#8221; &#8220;BSGA&#8221; and &#8220;BSGAR,&#8221; respectively. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The closing price of the BSGA Units, BSGA Class A Ordinary Shares and BSGA Rights on December&#160;14, 2021, the last trading day before the announcement of the execution of the Merger Agreement, was US$10.07, US$11.01 and US$0.625, respectively. As of&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022, the record date for the Extraordinary General Meeting, the most recent closing price for each BSGA Units, BSGA Class A Ordinary Shares and BSGA Rights was US$&#8199;&#8199;&#8199;&#8199;, US$ and US$&#8199;&#8199;&#8199;&#8199;&#8199;, respectively. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Holders of the BSGA Units, BSGA Class A Ordinary Shares and BSGA Rights should obtain current market quotations for their securities. The market price of BSGA&#8217;s securities could vary at any time before the Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Historical market price information regarding Bitdeer is not provided because there is no public market for their securities. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Historical market price information regarding BTG is not provided because there is no public market for its securities. BTG has applied to list the BTG ADSs representing BTG Class&#160;A Ordinary Shares on Nasdaq under the symbol &#8220;BTDR.&#8221; It is a condition to the consummation of the Business Combination in the Merger Agreement that the BTG ADSs representing BTG Class&#160;A Ordinary Shares to be issued in connection with the Business Combination shall have been approved for listing on Nasdaq, subject only to official notice of issuance thereof. BTG Bitdeer and BSGA have certain obligations in the Merger Agreement to use reasonable best efforts in connection with the Business Combination, including with respect to satisfying this Nasdaq listing condition. The Nasdaq listing condition in the Merger Agreement may be waived by the parties to the Merger Agreement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Holders</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022, there was&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;holder of record of BSGA Units, &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;holder of record of BSGA Class&#160;A Ordinary Shares and&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;holders of record of BSGA Class&#160;B ordinary shares. As of&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022, there were&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;holders of record of Bitdeer&#8217;s Class&#160;A Ordinary Shares,&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;holders of record of Bitdeer&#8217;s Class&#160;B Ordinary Shares and&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;holders of record of Bitdeer Preference Shares. As of&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022, BTG had&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;holder of record. See &#8220;Beneficial Ownership of Securities.&#8221; </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Dividend Policy</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA has not paid any cash dividends on BSGA Shares to date and does not intend to pay cash dividends prior to the completion of the Business Combination. In addition, Bitdeer has not paid any dividends to its shareholders. The payment of any cash dividends after consummation of the Business Combination shall be dependent upon the revenue, earnings and financial condition of BTG from time to time. The payment of any dividends subsequent to the Business Combination shall be within the discretion of the board of directors of BTG. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">252</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tAMSP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:548pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">ANNUAL MEETING SHAREHOLDER PROPOSALS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">If the Business Combination is consummated, you shall be entitled to attend and participate in BTG&#8217;s annual general meetings of shareholders/ADS holders. If BTG holds a 2022 annual general meeting of shareholders/ADS holders, it shall provide notice of or otherwise publicly disclose the date on which the 2022 annual general meeting shall be held. As a foreign private issuer, BTG shall not be subject to the SEC&#8217;s proxy rules. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">253</font>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tOSC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:504pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OTHER SHAREHOLDER COMMUNICATIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Shareholders and interested parties may communicate with BSGA&#8217;s board of directors, any committee chairperson or the non-management directors as a group by writing to the board or committee chairperson in care of BSGA, Naphat Sirimongkolkasem, at Cheung Kong Center, 58 Floor, Unit 5801, 2 Queens Road Central, Central, Hong Kong. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Following the Business Combination, such communications should be sent to BTG, 08 Kallang Avenue, Aperia tower 1, #09-03/04, Singapore 339509, Attention: Bitdeer Investor Relations (email: ir@bitdeer.com). Each communication will be forwarded, depending on the subject matter, to the board of BTG, the appropriate committee chairperson or all non-management directors. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">254</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tLEMA">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:540pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">LEGAL MATTERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer is being represented by Cooley LLP with respect to certain legal matters as to United States federal securities and New York State law. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The validity of BTG Ordinary Shares has been passed on by Travers Thorp Alberga. The material U.S. federal income tax consequences of the Business Combination to U.S. Holders shall be passed upon by Davis Polk &amp; Wardwell LLP. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">255</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tEXP">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:444pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXPERTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated financial statements of Bitdeer Technologies Holding Company and its subsidiaries as of December 31, 2020 and 2021 and for each of the three years in the period ended December&#160;31, 2021, as set forth in this proxy statement/prospectus have been so included in reliance on the report of MaloneBailey, LLP, an independent registered public accounting firm, given on their authority as experts in accounting and auditing. The current address of MaloneBailey, LLP is 10370 Richmond Avenue, Houston, TX 77042. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The financial statements of Blue Safari Group Acquisition Corp. as of December 31, 2021 and for the period from February&#160;23, 2021 (inception) through December 31, 2021 included in this proxy statement/</font>&#8203;<font style="letter-spacing:0.2pt;">prospectus have been audited by Marcum LLP, an independent registered public accounting firm, as set forth in their report thereon (which contains an explanatory paragraph relating to substantial doubt about the ability of Blue Safari Group Acquisition Corp. to continue as a going concern), appearing elsewhere herein, and are included in reliance upon such report given on the authority of such firm as experts in accounting and auditing. </font></div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">256</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tDODT">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:444pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DELIVERY OF DOCUMENTS TO SHAREHOLDERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the rules of the SEC, BSGA and services that it employs to deliver communications to its shareholders are permitted to deliver to two or more shareholders sharing the same address a single copy of each of BSGA&#8217;s annual report to shareholders and BSGA&#8217;s proxy statement. Upon written or oral request, BSGA shall deliver a separate copy of the annual report to shareholder and/or proxy statement to any shareholder at a shared address to which a single copy of each document was delivered and who wishes to receive separate copies of such documents. Shareholders receiving multiple copies of such documents may likewise request that BSGA deliver single copies of such documents in the future. Shareholders receiving multiple copies of such documents may request that BSGA deliver single copies of such documents in the future. Shareholders may notify BSGA of their requests by writing BSGA to its principal executive offices at Cheung Kong Center, 58 Floor, Unit 5801, 2 Queens Road Central, Central, Hong Kong. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Following the Business Combination, such requests should be made by calling +65 62828220 or writing BTG at 08 Kallang Avenue, Aperia tower 1, #09-03/04, Singapore 339509, Attention: Bitdeer Investor Relations (email: ir@bitdeer.com). </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">257</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tWYCF">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:160pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">WHERE YOU CAN FIND MORE INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As a foreign private issuer, after the consummation of the Business Combination, BTG shall be required to file its annual report on Form 20-F with the SEC no later than four&#160;months following its fiscal year end. BSGA files reports, proxy statements and other information with the SEC as required by the Exchange Act. The SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. You may access information on BSGA pre-Closing, and BTG post-Closing at the SEC website containing reports, proxy statements and other information at: </font><font style="font-style:italic;letter-spacing:0.2pt;">http://www.sec.gov.</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Information and statements contained in this proxy statement/prospectus or any annex to this proxy statement/prospectus are qualified in all respects by reference to the copy of the relevant contract or other annex filed as an exhibit to this proxy statement/prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All information contained in this document relating to BSGA has been supplied by BSGA, and all such information relating to Bitdeer has been supplied by Bitdeer. Information provided by one entity does not constitute any representation, estimate or projection of the other entity. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer does not file any annual, quarterly or current reports, proxy statements or other information with the SEC. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you would like additional copies of this document or if you have questions about the Business Combination, you should contact via phone or in writing BSGA&#8217;s proxy solicitation agent at the following address, telephone number and email: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">[&#8226;] </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If you are a BSGA Shareholder and would like to request documents, please do so by [&#8226;] , 2022 to receive them before the Extraordinary General Meeting. If you request any documents from us, we shall mail them to you by first class mail, or another equally prompt means. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">None of BSGA, BTG or Bitdeer has authorized anyone to give any information or make any representation about the Business Combination or their companies that is different from, or in addition to, that which is contained in this proxy statement/prospectus or in any of the materials that have been incorporated in this proxy statement/prospectus. Therefore, if anyone does give you information of this sort, you should not rely on it. If you are in a jurisdiction where offers to exchange or sell, or solicitations of offers to exchange or purchase, the securities offered by this proxy statement/prospectus or the solicitation of proxies is unlawful, or if you are a person to whom it is unlawful to direct these types of activities, then the offer presented in this proxy statement/prospectus does not extend to you. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The information contained in this proxy statement/prospectus speaks only as of the date of this proxy statement/prospectus unless the information specifically indicates that another date applies.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">258</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="TOC3">&#8203;</a><a name="tIOFS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:126.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TABLE OF CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INDEX OF FINANCIAL STATEMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:440.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:424pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Page </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Financial Statements of Blue Safari Acquisition Corp.</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fCCBS"><font style="letter-spacing:0.2pt;">Condensed Consolidated Balance Sheets as of March 31, 2022 (unaudited) and December&#160;31, </font>
                  <br >
                  <font style="letter-spacing:0.2pt;">2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fCCBS">F-2</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fUCCSO"><font style="letter-spacing:0.2pt;">Unaudited Condensed Consolidated Statements of Operations for the three months ended March&#160;31, 2022 and for the period from February 23, 2021 (inception) to March 31, 2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fUCCSO">F-3</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fUCCSC"><font style="letter-spacing:0.2pt;">Unaudited Condensed Consolidated Statements of Changes in Shareholders&#8217; (Deficit) Equity for the three months ended March 31, 2022 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fUCCSC">F-4</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fUCCCS"><font style="letter-spacing:0.2pt;">Unaudited Condensed Consolidated Statements of Changes in Shareholders&#8217; (Deficit) Equity the period from February 23, 2021 (inception) to March 31, 2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fUCCCS">F-5</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fUCCCF"><font style="letter-spacing:0.2pt;">Unaudited Condensed Consolidated Statements of Cash Flows for the three months Ended March&#160;31, 2022 and for the period from February 23, 2021 (inception) to March 31, 2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fUCCCF">F-6</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fNUCCF"><font style="letter-spacing:0.2pt;">Notes to Unaudited Condensed Consolidated Financial Statements </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fNUCCF">F-7</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fRIFF1"><font style="letter-spacing:0.2pt;">Report of Independent Registered Public Accounting Firm (PCAOB Firm No.: #688) </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fRIFF1">F-17</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fCBSD1"><font style="letter-spacing:0.2pt;">Balance Sheet as of December&#160;31, 2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fCBSD1">F-18</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fCSOD1"><font style="letter-spacing:0.2pt;">Statement of Operations for the Period from February&#160;23, 2021 (Inception) through December&#160;31, </font>
                  <br >
                  <font style="letter-spacing:0.2pt;">2021 </font></a>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fCSOD1">F-19</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fCSCSD1"><font style="letter-spacing:0.2pt;">Statement of Changes in Shareholder&#8217;s Equity for the Period from February&#160;23, 2021 (Inception) through December&#160;31, 2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fCSCSD1">F-20</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:424pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <a href="#fCSCFD1"><font style="letter-spacing:0.2pt;">Statement of Cash Flows for the Period from February&#160;23, 2021 (Inception) through December&#160;31, </font>
                  <br >
                  <font style="letter-spacing:0.2pt;">2021 </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fCSCFD1">F-21</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fCFSD1"><font style="letter-spacing:0.2pt;">Notes to the Financial Statements </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fCFSD1">F-22</a></font> <a href="#fCFSD1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:14.167pt 0pt 0.833pt 0pt; width:424pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:-0.2pt;">Audited Combined and Consolidated Financial Statements of Bitdeer Technologies Holding Company </font>
                <br >
                <font style="letter-spacing:-0.2pt;">as of December&#160;31, 2020 and 2021 and for each of the Three Years in the Period Ended </font>
                <br >
                <font style="letter-spacing:-0.2pt;">December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fROIR"><font style="letter-spacing:0.2pt;">Report of Independent Registered Public Accounting Firm </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fROIR">F-32</a></font> <a href="#fROIR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fBTHC"><font style="letter-spacing:0.2pt;">Combined and Consolidated Statements of Financial Position </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fBTHC">F-33</a></font> <a href="#fBTHC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fBTHC1"><font style="letter-spacing:0.2pt;">Combined and Consolidated Statements of Operations and Comprehensive Income / (Loss) </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fBTHC1">F-34</a></font> <a href="#fBTHC1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fBTHC2"><font style="letter-spacing:0.2pt;">Combined and Consolidated Statements of Changes in Invested Capital and Equity </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fBTHC2">F-35</a></font> <a href="#fBTHC2"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fBTHC3"><font style="letter-spacing:0.2pt;">Combined and Consolidated Statements of Cash Flows </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fBTHC3">F-36</a></font> <a href="#fBTHC3"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:424pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#fNTTC"><font style="letter-spacing:0.2pt;">Notes to the Combined and Consolidated Financial Statements </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#fNTTC">F-38</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fCCBS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:134pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP.</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONDENSED CONSOLIDATED BALANCE SHEETS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:437pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:304pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">March&#160;31, 2022</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(unaudited) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31,</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Assets</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash and cash equivalents </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">280,761</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">413,417</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Prepaid Expenses </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">68,264</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">157,553</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total Current Assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">349,025</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">570,970</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Investments held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,082,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,077,104</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Total Assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:normal;">58,431,977</font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:normal;">58,648,074</font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Liabilities and Shareholders&#8217; Deficit</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accrued offering costs and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">2,381,756</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">549,373</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Due to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">384,373</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">355,863</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Promissory note&#8201;&#8211;&#8201;related party </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">200,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">200,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total Current Liabilities</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">2,966,129</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">1,105,236</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred underwriters discount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">2,012,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">2,012,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total Liabilities</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">4,978,629</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">3,117,736</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Commitments &amp; Contingencies</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:304pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;A ordinary shares subject to possible redemption, 5,750,000 shares at March&#160;31, 2022 and December&#160;31, 2021 (at redemption value of US$10.10 per share) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">58,082,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">58,075,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:304pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Shareholders&#8217; Deficit:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:304pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Preferred shares, no par value; 1,000,000 shares authorized; no shares issued and outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:304pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;A ordinary shares, no par value, 100,000,000 shares authorized, </font>
                <br >
                <font style="letter-spacing:0.2pt;">350,000 issued and outstanding, excluding 5,750,000 shares subject to </font>
                <br >
                <font style="letter-spacing:0.2pt;">possible redemption at March&#160;31, 2022 and December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">3,403,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">3,403,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:304pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;B ordinary shares, no par value, 10,000,000 shares authorized, 1,437,500 shares issued and outstanding at March&#160;31, 2022 and December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accumulated deficit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(8,058,461<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(5,973,519<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total Shareholders&#8217; Deficit</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(4,629,604<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(2,544,662<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:304pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Total Liabilities and Shareholders&#8217; Deficit</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:normal;">58,431,977</font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:normal;">58,648,074</font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying notes are an integral part of the condensed consolidated financial statements. </font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fUCCSO">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:300.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP.</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:270.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:309pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Three Months</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Ended</font>
                <br >
                <font style="letter-spacing:-0.16pt;">March&#160;31,</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Period </font>
                <br >
                <font style="letter-spacing:-0.16pt;">from</font>
                <br >
                <font style="letter-spacing:-0.16pt;">February&#160;23, </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Inception)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">to March&#160;31, </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:309pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Formation and operating costs</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">2,082,838</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">8,010</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:309pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Loss from operations</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(2,082,838<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:309pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Other income</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:309pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Interest income earned on Trust </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">5,848</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:309pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total other income</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">5,848</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:309pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Net loss</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:normal;">(2,076,990</font><font style="position:absolute;font-weight:normal;">)</font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:normal;">(8,010</font><font style="position:absolute;font-weight:normal;">)</font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:309pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted weighted average shares outstanding, Class&#160;A ordinary </font>
                <br >
                <font style="letter-spacing:0.2pt;">shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">5,750,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:309pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted net loss per share, Class&#160;A ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">(0.28</font><font style="position:absolute;font-weight:normal;">)</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:309pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted weighted average shares outstanding, Class&#160;B ordinary </font>
                <br >
                <font style="letter-spacing:0.2pt;">shares and Class&#160;A ordinary shares not subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">1,787,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">1,250,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:309pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted net loss per share, Class&#160;B ordinary shares and Class&#160;A </font>
                <br >
                <font style="letter-spacing:0.2pt;">ordinary shares not subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">(0.28</font><font style="position:absolute;font-weight:normal;">)</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">(0.01</font><font style="position:absolute;font-weight:normal;">)</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:10pt; margin-top:5pt; text-align:center; width:446pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">See accompanying notes to the unaudited condensed consolidated financial statements.</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fUCCSC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP.</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN </font>
          <br >
          <font style="letter-spacing:-0.2pt;">SHAREHOLDERS&#8217; (DEFICIT) EQUITY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:12pt;margin-bottom:12pt;margin-left:27.16pt;width:541pt;">
        <table style="width:541pt;height:99pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;height:13.75pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:196.88pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;A Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Accumulated</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Deficit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Total</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Shareholders&#8217;</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Deficit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;" rowspan="2">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;height:13.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:196.88pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:196.88pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Balance as of December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">350,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">3,403,857</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">25,000</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">(5,973,519</font><font style="position:absolute;font-weight:normal;">)</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">US$</div>
            </td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">
                <font style="font-weight:normal;">(2,544,662</font><font style="position:absolute;font-weight:normal;">)</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:196.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(2,076,990<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(2,076,990<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:2.167pt 0pt 0.5pt 0pt; width:196.88pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Remeasurement of Class&#160;A ordinary shares to </font>
                <br >
                <font style="letter-spacing:0.2pt;">redemption value </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(7,952<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(7,952<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:196.88pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Balance as of March&#160;31, 2022 (Unaudited)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">350,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">3,403,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(8,058,461<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(4,629,604<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:12pt;margin-bottom:449pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:10pt; text-align:center; width:446pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">See accompanying notes to the unaudited condensed consolidated financial statements.</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-4</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fUCCCS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:436pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP.</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN </font>
          <br >
          <font style="letter-spacing:-0.2pt;">SHAREHOLDERS&#8217; (DEFICIT) EQUITY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:123pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;height:13.75pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:155.69pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;A Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Accumulated</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Deficit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Total</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Shareholder&#8217;s</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Equity </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;" rowspan="2">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;height:13.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:155.69pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:155.69pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Balance as of February&#160;23, 2021 (inception)</font>
              </div>
            </td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:34.89pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.96pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:155.69pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;B ordinary shares issued to Sponsor </font>
              </div>
            </td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:34.89pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.96pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:155.69pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net loss </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:34.89pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.583pt 0pt; width:155.69pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Balance as of March&#160;31, 2021 (Unaudited)</font>
              </div>
            </td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:34.89pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt; width:4pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">16,990</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:10pt; margin-top:5pt; text-align:center; width:446pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">See accompanying notes to the unaudited condensed consolidated financial statements.</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fUCCCF">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:233.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP.</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:337.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:322pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Three Months</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Ended</font>
                <br >
                <font style="letter-spacing:-0.16pt;">March&#160;31,</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Period</font>
                <br >
                <font style="letter-spacing:-0.16pt;">from</font>
                <br >
                <font style="letter-spacing:-0.16pt;">February&#160;23, </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Inception) to</font>
                <br >
                <font style="letter-spacing:-0.16pt;">March&#160;31,</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash Flows from Operating Activities:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(2,076,990<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Adjustments to reconcile net loss to net cash used in operating activities: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest earned on investment held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(5,848<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Changes in current assets and current liabilities: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Prepaid Expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">89,289</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accrued offering costs and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">1,832,383</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">8,010</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Due to related parties </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">28,510</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net cash used in operating activities</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(132,656<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net Change in Cash</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(132,656<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash, beginning of the period </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">413,417</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Cash, end of the period</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">280,761</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1.5pt 0pt; width:322pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Supplemental Disclosure of Non-cash Activities:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.167pt 0pt 1.833pt 0pt; width:322pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Deferred offering costs paid by Sponsor in exchange for issuance of Class&#160;B </font>
                <br >
                <font style="letter-spacing:0.2pt;">ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred offering costs paid by Sponsor under the promissory note </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">77,323</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 3.25pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Remeasurement of Class&#160;A ordinary shares to redemption value </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">7,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 3.25pt 0pt; width:322pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred offering costs included in accrued offering costs and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.29pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">17,765</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">See accompanying notes to the unaudited condensed consolidated financial statements.</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fNUCCF">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP. </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS </font>
          <br >
          <font style="letter-spacing:-0.2pt;">MARCH 31, 2022</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 1&#8201;&#8212;&#8201;Organization and Business Operation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Group Acquisition Corp. (the &#8220;Company&#8221;) is newly incorporated blank check company incorporated as a British Virgin Island (&#8220;BVI&#8221;) business company on February&#160;23, 2021. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the &#8220;Business Combination&#8221;). The Company has not selected any potential Business Combination target and the Company has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any potential Business Combination target. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;31, 2022, the Company had not commenced any operations. All activity for the period from February&#160;23, 2021 (inception) through March&#160;31, 2022 relates to the Company&#8217;s formation, the Initial Public Offering (the &#8220;IPO&#8221;), and searching for a Business Combination target. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the IPO. The Company has selected December&#160;31 as its fiscal year end. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s Sponsor is BSG First Euro Investment Corp., a British Virgin Islands company (the &#8220;Sponsor&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The registration statement for the Company&#8217;s IPO was declared effective on June&#160;9, 2021 (the &#8220;Effective Date&#8221;). On June&#160;14, 2021 the Company consummated the IPO of 5,750,000&#160;units (the &#8220;Units&#8221;), including 750,000&#160;Units sold pursuant to the full exercise of the underwriters&#8217; option to purchase additional&#160;units to cover the over-allotment (the &#8220;Units&#8221; and, with respect to the Class&#160;A ordinary shares included in the Units being offered, the &#8220;Public Shares&#8221;), at US$10.00 per Unit, generating gross proceeds of US$57,500,000, which is discussed in Note 3. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Simultaneously with the closing of the IPO, the Company consummated the sale of 292,500&#160;units (the &#8220;Private Placement Unit&#8221;), at a price of US$10.00 per Private Placement Unit, generating gross proceeds of US$2,925,000, which is discussed in Note 4. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Transaction costs of the IPO amounted to US$4,158,799 consisting of US$1,150,000 of underwriting discount, US$2,012,500 of deferred underwriting discount, the fair value of the representative shares of US$478,857 and US$517,442 of other offering costs. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Upon the closing of the IPO, an aggregate of US$10.10 per Unit sold in the IPO, or an aggregate of US$58,075,000, was held in a Trust Account (&#8220;Trust Account&#8221;) and was invested only in U.S. government treasury bills with a maturity of 180&#160;days or less or in money market funds meeting certain conditions under Rule&#160;2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Proposed Public Offering and the private placement will not be released from the Trust Account until the earliest of (i)&#160;the completion of the initial Business Combination, (ii)&#160;the redemption of any public shares properly tendered in connection with a shareholder vote to amend the Company&#8217;s amended and restated memorandum and articles of association to (A)&#160;modify the substance or timing of the Company&#8217;s obligation to redeem 100% of the public shares if the Company does not complete the initial Business Combination within the Combination Period (defined below) or (B)&#160;with respect to any other provision relating to shareholders&#8217; rights or pre-Business Combination activity and (iii)&#160;the redemption of all of the public shares if the Company is unable to complete the initial Business Combination within the Combination Period (defined below), subject to applicable law. The proceeds deposited in the Trust Account could become subject to the claims of the creditors, if any, which could have priority over the claims of the public shareholders. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company will provide the public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination either (i)&#160;in connection with a </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-7</font>
          <br >
        </div>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">shareholder meeting called to approve the Business Combination or (ii)&#160;by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed Business Combination or conduct a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require the Company to seek shareholder approval under the law or stock exchange listing requirement. The Company will provide the public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, including interest, which interest shall be net of taxes payable, divided by the number of then outstanding public shares, subject to the limitations described herein. The amount in the Trust Account is initially anticipated to be US$10.10 per public share, which is subject to increase of up to an additional US$0.20 per unit in the event that the Sponsor elects to extend the period of time to consummate a Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">The ordinary shares subject to redemption were recorded at a redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221; In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least US$5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder approval, a majority of the issued and outstanding shares voted are voted in favor of the Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">The Company will have 12&#160;months from the closing of the IPO (the &#8220;Combination Period&#8221;) (or up to 18&#160;months from the closing of the IPO if the Company extend the period of time to consummate a Business Combination by the full amount of time) to complete the initial Business Combination. If the Company has not completed the initial Business Combination within the Combination Period, the Company will: (i)&#160;cease all operations except for the purpose of winding up, (ii)&#160;as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable, and less up to US$50,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders&#8217; rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii)&#160;as promptly as reasonably possible following such redemption, subject to the approval of the Company&#8217;s remaining shareholders and the Board of Directors, liquidate and dissolve, subject in each case to the Company&#8217;s obligations under British Virgin Islands law to provide for claims of creditors and the requirements of other applicable law. </font>
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          <font style="letter-spacing:0.2pt;">The Sponsor, officers and directors have agreed to (i)&#160;to waive their redemption rights with respect to their founder shares and public shares in connection with the completion of the initial Business Combination and (ii)&#160;to waive their rights to liquidating distributions from the trust account with respect to their founder shares if the Company fails to complete the initial Business Combination within the Combination Period (although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete the initial Business Combination within the Combination Period). If the Company submits the initial Business Combination to the public shareholders for a vote, the insiders have agreed, pursuant to such letter agreement, to vote their founder shares, private placement shares and any public shares purchased during or after the IPO in favor of the initial Business Combination. </font>
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          <font style="letter-spacing:0.2pt;">The Company&#8217;s Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i)&#160;US$10.10 per public share or (ii)&#160;such lesser amount per public share held in the trust account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company&#8217;s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third -party claims. The </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Company has not independently verified whether the Sponsor has sufficient funds to satisfy their indemnity obligations and believe that the Sponsor&#8217;s only assets are securities of the Company. The Company has not asked the Sponsor to reserve for such obligations. </font>
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          <font style="letter-spacing:0.2pt;">On November&#160;18, 2021, the Company entered into an Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;) by and among the Company, Blue Safari Mini Corp., an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly-owned subsidiary of the Company (&#8220;Merger Sub&#8221;), and Bitdeer Technologies Holding Company, an exempted company incorporated with limited liability under the laws of the Cayman Islands (&#8220;Bitdeer&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">Pursuant to the Merger Agreement, the parties thereto will enter into a Business Combination transaction by which Merger Sub will merge with and into Bitdeer with Bitdeer being the surviving entity and becoming a wholly-owned subsidiary of the Company (the &#8220;Merger&#8221; and, together with the other transactions contemplated by the Merger Agreement, the &#8220;Transactions&#8221;). The Merger Agreement and the Transactions were unanimously approved by the boards of directors of each of the Company, Merger Sub and Bitdeer. </font>
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          <font style="letter-spacing:0.2pt;">On December&#160;15, 2021, the Company entered into an Amended and Restated Agreement and Plan of Merger (as amended from time to time, the &#8220;Merger Agreement&#8221;) by and among (i)&#160;the Company, (ii)&#160;Bitdeer Technologies Group, an exempted company with limited liability incorporated under the laws of the Cayman Islands (&#8220;BTG&#8221;), (iii)&#160;Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;Merger Sub 1&#8221;), (iv)&#160;Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;Merger Sub 2&#8221;), (v)&#160;Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of BTG (&#8220;Merger Sub 3&#8221;, and together with BTG, Merger Sub 1 and Merger Sub 2, the &#8220;Acquisition Entities&#8221;), (vi)&#160;Merger Sub, and (vii)&#160;Bitdeer, to amend and restate the Original Merger Agreement. </font>
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          <font style="letter-spacing:0.2pt;">The Merger Agreement amended and restated the Original Merger Agreement to effect a change in structure of the business combination without affecting any underlying economic interests, whereby (a)&#160;Merger Sub 1 will merge with and into the Company with the Company being the surviving entity (the &#8220;First SPAC Merger&#8221;) and becoming a wholly owned subsidiary of BTG, (b)&#160;immediately following the First SPAC Merger, the Company will merge with and into Merger Sub 2 with Merger Sub 2 being the surviving entity (the &#8220;Second SPAC Merger&#8221;, and together with the First SPAC Merger, the &#8220;Initial Mergers&#8221;), and (c)&#160;following the Initial Mergers, Merger Sub 3 will merge with and into Bitdeer (the &#8220;Acquisition Merger&#8221; and together with the Initial Mergers, the &#8220;Mergers&#8221;), with Bitdeer being the surviving entity and becoming a wholly owned subsidiary of BTG. The Merger Agreement and the transactions contemplated therein were unanimously approved by the boards of directors of each of the Company, BTG, Merger Sub 1, Merger Sub 2, Merger Sub&#160;3, and Bitdeer. </font>
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          <font style="letter-spacing:0.2pt;">The Mergers and other transactions contemplated by the Merger Agreement are expected to be consummated after obtaining the required approval by the shareholders of the Company, BTG, Merger Sub 1, Merger Sub 2, Merger Sub 3, Merger Sub and Bitdeer and the satisfaction of certain other customary closing conditions. </font>
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          <font style="letter-spacing:-0.2pt;">Going Concern Consideration</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As of March&#160;31, 2022, the Company had US$280,761 in cash, and working capital deficit of US$2,617,104. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s liquidity needs prior to the consummation of the IPO were satisfied through the proceeds of US$25,000 from the sale of the Founders Shares (as defined in Note 5), and loan proceeds from the Sponsor of US$200,000 under the Note (Note 5). </font>
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          <font style="letter-spacing:0.2pt;">Subsequent from the consummation of the IPO, the Company&#8217;s liquidity has been satisfied through the net proceeds from the consummation of the IPO and the Private Placement held outside of the Trust Account. </font>
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          <font style="letter-spacing:0.2pt;">The Company expects to incur increased expenses since becoming a public company (for legal, financial reporting, accounting and auditing compliance), as well as expenses in connection with the initial Business Combination. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">The Company has until June&#160;14, 2022 to consummate a Business Combination (or December&#160;14, 2022 if it exercises its option to extend the date). It is uncertain that the Company will be able consummate a Business Combination by either date. If a Business Combination is not consummated by the required dates, there will be a mandatory liquidation and subsequent dissolution. In connection with the Company&#8217;s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Update (&#8220;ASU&#8221;) 2014-15, &#8220;Disclosure of Uncertainties About an Entity&#8217;s Ability to Continue as a Going Concern&#8221;, management has determined that mandatory liquidation, and subsequent dissolution, should the Company be unable to complete a business combination, raises substantial doubt about the Company&#8217;s ability to continue as a going concern. If a Business Combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after June&#160;14, 2022 (or December&#160;14, 2022 if extended). </font>
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          <font style="letter-spacing:0.2pt;">Based upon the above analysis, management determined that these conditions raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year after the date the unaudited condensed consolidated financial statements are issued. </font>
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          <font style="letter-spacing:-0.2pt;">Risks and Uncertainties</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Management is currently evaluating the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company&#8217;s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these unaudited condensed consolidated financial statements. In February&#160;2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these financial statements and the specific impact on the Company&#8217;s financial condition, results of operations, and cash flows is also not determinable as of the date of these financial statements. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 2&#8201;&#8212;&#8201;Summary of Significant Accounting Policies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">Basis of Presentation</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) for interim financial information and in accordance with the instructions to Form 10-Q and Article&#160;8 of Regulation&#160;S-X of the SEC. Certain information or footnote disclosures normally included in the unaudited condensed consolidated financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the period presented. </font>
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          <font style="letter-spacing:0.2pt;">The interim results for the three&#160;months ended March&#160;31, 2022 are not necessarily indicative of the results to be expected for the year ending December&#160;31, 2022 or for any future periods. </font>
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          <font style="letter-spacing:-0.2pt;">Emerging Growth Company Status</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Company is an &#8220;emerging growth company,&#8221; as defined in Section&#160;2(a) of the Securities Act, as modified by the Jumpstart our Business Startups Act of 2012, (the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section&#160;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements </font>
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          <font style="letter-spacing:0.2pt;">F-10</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Further, Section&#160;102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company&#8217;s unaudited condensed consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Use of Estimates</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The preparation of unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. </font>
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          <font style="letter-spacing:-0.2pt;">Cash and Cash Equivalents</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company considers all short-term investments with an original maturity of three&#160;months or less when purchased to be cash equivalents. The Company has US$280,761 and US$413,417 in cash and no cash equivalents as of March&#160;31, 2022 and December&#160;31, 2021, respectively. </font>
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          <font style="letter-spacing:-0.2pt;">Offering Costs Associated with IPO</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company complies with the requirements of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (&#8220;SAB&#8221;) Topic 5A&#8201;&#8212;&#8201;&#8220;Expenses of Offering&#8221;. Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the IPO and were charged to shareholders&#8217; equity upon the completion of the IPO. Accordingly, as of March&#160;31, 2022, offering costs in the aggregate of US$4,158,799 have been charged to shareholders&#8217; equity (consisting of US$1,150,000 of underwriting discount, US$2,012,500 of deferred underwriting discount, the fair value of the representative shares of US$478,857 and US$517,442 of other offering costs). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Fair Value Measurements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The fair value of the Company&#8217;s assets and liabilities, which qualify as financial instruments under FASB ASC 820, &#8220;Fair Value Measurements and Disclosures,&#8221; approximates the carrying amounts represented in the balance sheet, primarily due to its short-term nature. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP stablishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level&#160;1 measurements) and the lowest priority to unobservable inputs (Level&#160;3 measurements). These tiers include: </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-11</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Investments Held in Trust Account</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">At March&#160;31, 2022 and December&#160;31, 2021, the Company had US$58,082,952 and US$58,077,104 assets held in the Trust Account, which primarily consist of investments in mutual funds that invest in U.S. government securities, cash, or a combination thereof. The Company&#8217;s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in gain on Investments Held in Trust Account in the accompanying statement of operations. The estimated fair values of investments held in the Trust Account are determined using available market information and classifies as Level&#160;1 measurements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Class&#160;A Ordinary Shares Subject to Possible Redemption</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company accounts for its Class&#160;A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (&#8220;ASC&#8221;) Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221; Ordinary shares subject to mandatory redemption (if any) is classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company&#8217;s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders&#8217; equity. The Company&#8217;s Class&#160;A ordinary shares feature certain redemption rights that are considered to be outside of the Company&#8217;s control and subject to the occurrence of uncertain future events. Accordingly, at March&#160;31, 2022 and December&#160;31, 2021, 5,750,000 shares of Class&#160;A ordinary shares subject to possible redemption is presented at redemption value as temporary equity, outside of the shareholders&#8217; equity section of the Company&#8217;s balance sheets. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Net Income (loss) Per Ordinary Share</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company has two classes of shares, which are referred to as Class&#160;A ordinary shares and Class&#160;B ordinary shares. Earnings and losses are shared pro&#160;rata between the two classes of shares. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net loss per share for each class of ordinary shares: </font>
        </div>
        <table style="width:456pt;height:139.65pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8.98pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:114pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.478pt 0pt; width:0pt;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the three&#160;months ended </font>
                <br >
                <font style="letter-spacing:-0.16pt;">March&#160;31, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.478pt 0pt; width:0pt;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the period from February&#160;23, 2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Inception) to March&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8.98pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:114pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.597pt 0pt 2.478pt 0pt;" colspan="4">
              <div style="text-align:center; line-height:8.99pt;">
                <font style="letter-spacing:-0.16pt;">Redeemable</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.597pt 0pt 2.478pt 0pt;" colspan="4">
              <div style="text-align:center; line-height:8.99pt;">
                <font style="letter-spacing:-0.16pt;">Non-</font>
                <br >
                <font style="letter-spacing:-0.16pt;">redeemable</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.597pt 0pt 2.478pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.597pt 0pt 2.478pt 0pt;" colspan="4">
              <div style="text-align:center; line-height:8.99pt;">
                <font style="letter-spacing:-0.16pt;">Redeemable</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.597pt 0pt 2.478pt 0pt;" colspan="4">
              <div style="text-align:center; line-height:8.99pt;">
                <font style="letter-spacing:-0.16pt;">Non-</font>
                <br >
                <font style="letter-spacing:-0.16pt;">redeemable</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.597pt 0pt 2.478pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8.49999999999994pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8.5pt;">
            <td style="padding:3.25pt 0pt 1.95pt 0pt; width:114pt;text-align:left;">
              <font style="letter-spacing:0.17pt;">NUMERATOR </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.57pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:31.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8.5pt;">
            <td style="padding:3.5pt 0pt 1.95pt 0pt; width:114pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.17pt;">Allocation of net loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.57pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:31.5pt; text-align:right; white-space:nowrap;">(1,584,437<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.95pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(96,444<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">(396,109<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.95pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">(8,010<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8.5pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8.5pt;">
            <td style="padding:3.49pt 0pt 1.96pt 0pt; width:114pt;text-align:left;">
              <font style="letter-spacing:0.17pt;">DENOMINATOR </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.57pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:31.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.95pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10.2pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8.5pt;">
            <td style="padding:2.357pt 0pt 1.383pt 0pt; width:114pt;white-space:normal;text-align:left;">
              <div style="margin-left:8.5pt; text-indent:-8.5pt; line-height:10.19pt;">
                <font style="letter-spacing:0.17pt;">Weighted average shares outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.57pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:31.5pt; text-align:right; white-space:nowrap;">5,750,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.95pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">350,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">1,250,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10.2pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8.5pt;">
            <td style="padding:2.357pt 0pt 1.383pt 0pt; width:114pt;white-space:normal;text-align:left;">
              <div style="margin-left:8.5pt; text-indent:-8.5pt; line-height:10.19pt;">
                <font style="letter-spacing:0.17pt;">Basic and diluted net loss per share </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.57pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:31.5pt; text-align:right; white-space:nowrap;">(0.28<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.95pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">(0.28<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">(0.28<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:38.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:6.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.4pt;width:0pt;">&#8203;</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:12.75pt; text-align:right; ">US$</td>
            <td style="padding:2.357pt 0pt 1.383pt 0pt; min-width:29.25pt; text-align:right; white-space:nowrap;">(0.01<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Income Taxes</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company follows the asset and liability method of accounting for income taxes under FASB ASC&#160;740, &#8220;Income Taxes.&#8221; Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the unaudited condensed consolidated financial statements </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-12</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the unaudited condensed consolidated financial statements recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company&#8217;s management determined that the British Virgin Islands is the Company&#8217;s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of March&#160;31, 2022 and December&#160;31, 2021, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company&#8217;s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve&#160;months. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company is considered to be a British Virgin Islands business company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the Company&#8217;s tax provision was zero for the period presented. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Concentration of credit risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of US$250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recent Accounting Pronouncements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company&#8217;s unaudited condensed consolidated financial statements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 3&#8201;&#8212;&#8201;Initial Public Offering</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On June&#160;14, 2021, Company consummated its IPO and sold 5,750,000&#160;Units, including 750,000&#160;Units sold pursuant to the full exercise of the underwriters&#8217; option to purchase additional&#160;units to cover the over-allotment. Each Unit consists of one ordinary share (&#8220;Ordinary Share&#8221;) and one right (&#8220;Right&#8221;) to receive one-tenth of one Ordinary Share upon the consummation of an initial business combination. The Units were sold at a price of US$10.00 per unit, generating gross proceeds to the Company of US$57,500,000. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All of the 5,750,000 Class&#160;A ordinary share sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such public shares in connection with the Company&#8217;s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company&#8217;s certificate of incorporation. In accordance with SEC and its staff&#8217;s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Class&#160;A ordinary share is subject to SEC and its staff&#8217;s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company recognizes changes in redemption value </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-13</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">immediately as they occur. Immediately upon the closing of the IPO, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;31, 2022 and December&#160;31, 2021, the Class&#160;A ordinary shares subject to possible redemptions reflected on the balance sheet are reconciled in the following table: </font>
        </div>
        <table style="width:456pt;height:126pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gross proceeds from IPO </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">57,500,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:379pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Less: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:379pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Ordinary shares issuance costs allocated to Class&#160;A ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">(4,158,799<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:379pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Plus: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Re-measurement of carrying value to redemption value </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">4,733,799</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Class&#160;A ordinary shares subject to possible redemptions as of December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">
              <font style="font-weight:bold;">58,075,000</font> </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest earned on investment held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:37.5pt; text-align:right; white-space:nowrap;">7,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Class&#160;A ordinary shares subject to possible redemptions as of March&#160;31, 2022</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:37.5pt; text-align:right; white-space:nowrap;">58,082,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:16.5pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 4&#8201;&#8212;&#8201;Private Placement</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Simultaneously with the closing of the IPO and the sale of the Units, the Company consummated the private placement (&#8220;Private Placement&#8221;) of an aggregate 292,500&#160;Units (&#8220;Private Placement Units&#8221;), which included the additional 22,500 Private Placement Units sold pursuant to the full exercise of the underwriters&#8217; option to cover the over-allotment. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Private Placement Units and their component securities will not be transferable, assignable or salable until 30&#160;days after the consummation of the initial Business Combination except to permitted transferees, and they will be non-redeemable and exercisable on a cashless basis so long as they are held by the Sponsor or its permitted transferees. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 5&#8201;&#8212;&#8201;Related Party Transactions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:11.71pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Founder Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On February&#160;23, 2021 and March&#160;4, 2021, the Company&#8217;s Sponsor paid US$25,000, or approximately US$0.017&#160;per share, to cover certain of the offering and formation costs in exchange for an aggregate of 1,437,500 Class&#160;B ordinary shares (&#8220;Founder shares&#8217;), with no par value per share, 187,500 shares of which were subject to forfeiture depending on the extent to which the underwriters&#8217; over-allotment option was exercised. On June&#160;14, 2021, the underwriter exercised the over-allotment option in full, hence, the 187,500 Founder Shares that are no longer subject to forfeiture. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s initial shareholders have agreed not to transfer, assign or sell any of its founder shares until the earlier to occur of: (A)&#160;six&#160;months after the completion of the initial Business Combination or (B)&#160;the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction after the initial Business Combination that results in all of the public shareholders having the right to exchange their ordinary shares for cash, securities or other property (the &#8220;Lock-up&#8221;). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Promissory Note&#8201;&#8212;&#8201;Related Party</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On March&#160;1, 2021, the Company issued the Promissory Note to the Sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of US$200,000. The Promissory Note is non-interest bearing and payable on the date that the Company consummates the IPO of its securities or the date on which the Company determines not to conduct an IPO. As of March&#160;31, 2022 and December&#160;31, 2021, the Company had borrowed US$200,000 under the promissory note. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Due to Related Party</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;31, 2022 and December&#160;31, 2021, the balance is US$384,373 and US$355,863, respectively. The balance of US$384,373 represented of US$97,333 administrative support services fee provided by the </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-14</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Sponsor commencing on June&#160;9, 2021, and US$287,040 of accrued expenses paid by the Sponsor on behalf of the Company. The balance of US$355,863 represented US$67,333 administrative support services fee provided by the Sponsor commencing on June&#160;9, 2021, and US$288,530 of accrued expenses paid by the Sponsor on behalf of the Company. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Working Capital Loans</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company&#8217;s officers and directors may, but are not obligated to, loan the Company funds as may be required (the &#8220;Working Capital Loans&#8221;). If the Company completes the initial Business Combination, the Company would repay the Working Capital Loans. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to US$1,150,000 of the Working Capital Loans may be convertible into&#160;units of the post Business Combination entity at a price of US$10.00 per unit at the option of the lender. The&#160;units would be identical to the Private Placement Units. As of March&#160;31, 2022 and December&#160;31, 2021, no such Working Capital Loans were outstanding. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 6&#8201;&#8212;&#8201;Commitments &amp; Contingencies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Registration Rights</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The holders of the founder shares, Private Placement Units, shares being issued to the underwriters of the Proposed Public Offering, and&#160;units that may be issued on conversion of Working Capital Loans (and in each case holders of their component securities, as applicable) will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of the Proposed Public Offering requiring the Company to register such securities for resale (in the case of the founder shares, only after conversion to the Class&#160;A ordinary shares). The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain &#8220;piggy-back&#8221; registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule&#160;415 under the Securities Act. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Underwriting Agreement</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The underwriters have a 45-day option from June&#160;14, 2021 to purchase up to an additional 750,000&#160;Units, consisting of 750,000 Class&#160;A ordinary shares and 750,000 rights to cover over-allotments, if any. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On June&#160;14, 2021, the underwriter fully exercised the over-allotment option to purchase 750,000&#160;Units, and the Company paid an underwriting commission in aggregate of US$1,150,000. Additionally, the underwriters will be entitled to a deferred underwriting commissions of 3.5% of the gross proceeds of the IPO held in the Trust Account, or US$2,012,500 upon the completion of the Company&#8217;s initial Business Combination subject to the terms of the underwriting agreement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Representative&#8217;s Ordinary Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company issued to Maxim Partners LLC and/or its designees, 57,500 shares upon the consummation of the IPO. Maxim has agreed not to transfer, assign or sell any such shares until the completion of our initial business combination. In addition, Maxim has agreed (i)&#160;to waive its redemption rights with respect to such shares in connection with the completion of our initial business combination and (ii)&#160;to waive its rights to liquidating distributions from the trust account with respect to such shares if the Company fails to complete our initial business combination within 12&#160;months from the closing of the IPO, or up to 18&#160;months from the closing of the IPO if the Company extends the period of time to consummate a business combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180&#160;days immediately following the date of the commencement of sales in the IPO pursuant to FINRA Rule&#160;5110(e)(1). Pursuant to FINRA Rule&#160;5110(e)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-15</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:216pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">securities by any person for a period of 180&#160;days immediately following the effective date of the registration statement of which the prospectus forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180&#160;days immediately following the effective date of the registration statement of which the prospectus forms a part except to any underwriter and selected dealer participating in the offering and their officers, partners, registered persons or affiliates. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Right of First Refusal</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For a period beginning on the closing of the IPO and ending 12&#160;months from the closing of a business combination, the Company has granted Maxim a right of first refusal to act as lead-left book running manager and lead left placement agent for any and all future private or public equity, equity-linked, convertible and debt offerings during such period. In accordance with FINRA Rule&#160;5110(g)(6)(A), such right of first refusal shall not have a duration of more than three&#160;years from the commencement of sales in the IPO. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 7&#8201;&#8212;&#8201;Shareholders&#8217; Equity</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Preference Shares &#8212;</font><font style="letter-spacing:0.2pt;"> The Company is authorized to issue a total of 1,000,000 preferred shares with no par value. As of March&#160;31, 2022 and December&#160;31, 2021, there were no preference shares issued or outstanding. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Class&#160;A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;The Company is authorized to issue a total of 100,000,000 Class&#160;A ordinary shares with no par value. As of March&#160;31, 2022 and December&#160;31, 2021, there were 350,000 Class&#160;A ordinary shares outstanding, excluding 5,750,000 Class&#160;A ordinary shares subject to possible redemption. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Class&#160;B Ordinary Shares &#8212;</font><font style="letter-spacing:0.2pt;"> The Company is authorized to issue a total of 10,000,000 Class&#160;B ordinary shares with no par value. As of March&#160;31, 2022 and December&#160;31, 2021, there were 1,437,500 Class&#160;B ordinary shares issued and outstanding. The Class&#160;B ordinary shares will automatically convert into Class&#160;A ordinary shares at the time of the initial Business Combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as provided herein and in the Company&#8217;s amended and restated memorandum and articles of association. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 8&#8201;&#8212;&#8201;Subsequent Events</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed consolidated financial statements were issued. Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-16</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fRIFF1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To the Shareholders and Board of Directors of </font> <br ><font style="letter-spacing:0.2pt;">Blue Safari Group Acquisition Corp. </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Opinion on the Financial Statements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have audited the accompanying consolidated balance sheet of Blue Safari Group Acquisition Corp. (the &#8220;Company&#8221;) as of December&#160;31, 2021, the related consolidated statements of operations, changes in shareholders&#8217; equity (deficit) and cash flows for the period from February&#160;23, 2021 (inception) through December&#160;31, 2021, and the related notes (collectively referred to as the &#8220;financial statements&#8221;). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December&#160;31, 2021, and the results of its operations and its cash flows for the period from February&#160;23, 2021 (inception) through December&#160;31, 2021, in conformity with accounting principles generally accepted in the United States of America. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Explanatory Paragraph&#8201;&#8212;&#8201;Going Concern</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 1 to the financial statements, the Company has until September&#160;14, 2022 to consummate a Business Combination. If a Business Combination is not consummated by the required date, then the Company will cease all operations except for the purpose of liquidating. This condition raises substantial doubt about the Company&#8217;s ability to continue as a going concern. Management&#8217;s plans with regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Basis for Opinion</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">These financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&#8220;PCAOB&#8221;) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal control over financial reporting. Accordingly, we express no such opinion. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provide a reasonable basis for our opinion. </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">/s/ Marcum LLP </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Marcum LLP </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have served as the Company&#8217;s auditor since 2021. </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Houston, Texas </font> <br ><font style="letter-spacing:0.2pt;">April&#160;5, 2022</font></div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-17</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fCBSD1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:167.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP. </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONSOLIDATED BALANCE SHEET </font>
          <br >
          <font style="letter-spacing:-0.2pt;">DECEMBER 31, 2021</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:391.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:380.41pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Assets</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Cash and cash equivalents </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">413,417</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Prepaid Expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">157,553</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total current assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">570,970</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Investments held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,077,104</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total Assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,648,074</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Liabilities and Shareholders&#8217; Equity (Deficit)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Accrued offering costs and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">549,373</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Due to related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">355,863</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Promissory note&#8201;&#8211;&#8201;related party </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">200,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total current liabilities</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">1,105,236</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Deferred underwriters discount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">2,012,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total liabilities</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">3,117,736</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Commitments &amp; Contingencies</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:380.41pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;A ordinary shares subject to possible redemption, 5,750,000 shares at redemption value (at US$10.10 per unit) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">58,075,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:380.41pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Shareholders&#8217; Equity (Deficit):</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Preference shares, no par value; 1,000,000 shares authorized; none issued and </font>
                <br >
                <font style="letter-spacing:0.2pt;">outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:380.41pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;A ordinary shares, no par value; 100,000,000 shares authorized; 350,000 issued and </font>
                <br >
                <font style="letter-spacing:0.2pt;">outstanding, excluding 5,750,000 shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">3,403,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:380.41pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Class&#160;B ordinary shares, no par value; 10,000,000 shares authorized; 1,437,500 shares issued and outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accumulated deficit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(5,973,519<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total shareholders&#8217; equity (deficit)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(2,544,662<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:380.41pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total Liabilities and Shareholders&#8217; Equity (Deficit)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.18pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">58,648,074</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying notes are an integral part of these consolidated financial statements. </font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-18</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fCSOD1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:327.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP. </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONSOLIDATED STATEMENT OF OPERATIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:243.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:371.74pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;text-align:center;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Period from</font>
                <br >
                <font style="letter-spacing:-0.16pt;">February&#160;23, 2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Inception)</font>
                <br >
                <font style="letter-spacing:-0.16pt;">to December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:371.74pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Formation and operating costs</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">1,241,824</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:371.74pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Loss from operations</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(1,241,824<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:371.74pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Other income</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:371.74pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Interest income earned on Trust </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">2,104</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:371.74pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total other income</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">2,104</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:371.74pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(1,239,720<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:371.74pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted weighted average shares outstanding, Class&#160;A ordinary shares subject </font>
                <br >
                <font style="letter-spacing:0.2pt;">to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">3,704,327</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:371.74pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted net loss per share, Class&#160;A ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:371.74pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted weighted average shares outstanding, Class&#160;B ordinary shares and Class&#160;A ordinary shares not subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">1,621,514</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:371.74pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Basic and diluted net loss per share, Class&#160;B ordinary shares and Class&#160;A ordinary shares not subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:23.52pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying notes are an integral part of these consolidated financial statements. </font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-19</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fCSCSD1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP. </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS&#8217; EQUITY (DEFICIT) </font>
          <br >
          <font style="letter-spacing:-0.2pt;">FOR THE PERIOD FROM FEBRUARY 23, 2021 (INCEPTION) THROUGH DECEMBER 31, 2021</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:12pt;margin-bottom:375.3pt;margin-left:45.66pt;width:504pt;">
        <table style="width:504pt;height:201.77pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;height:13.75pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:156.37pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;A Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Accumulated</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Deficit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;" rowspan="2">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4" rowspan="2">
              <div style="text-align:center; line-height:9pt; padding-bottom:0pt;">
                <font style="letter-spacing:-0.16pt;">Total </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Shareholders&#8217;</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Equity (Deficit) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;" rowspan="2">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;height:13.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:156.37pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
          </tr>
          <tr style="line-height:11.73pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:1.963pt 0pt 0.5pt 0pt; width:156.37pt;white-space:normal;text-align:left;">
              <div style="margin-left:9.8pt; text-indent:-9.8pt; line-height:11.73pt; margin-bottom:-0.499999999999999pt;">
                <font style="letter-spacing:-0.196pt;">Balance as of February&#160;23, 2021 (Inception)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.963pt 0pt 1.892pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:11.73pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="padding:1.963pt 0pt 0.5pt 0pt; width:156.37pt;white-space:normal;text-align:left;">
              <div style="margin-left:9.8pt; text-indent:-9.8pt;">
                <font style="letter-spacing:0.196pt;">Class&#160;B ordinary share issued to initial shareholder </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.963pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:11.73pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="padding:2.213pt 0pt 0.5pt 0pt; width:156.37pt;white-space:normal;text-align:left;">
              <div style="margin-left:9.8pt; text-indent:-9.8pt;">
                <font style="letter-spacing:0.196pt;">Sale of 292,500 Private Placement Units on June&#160;14, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">292,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">2,925,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">2,925,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.77000000000001pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="padding:3.52pt 0pt 0.5pt 0pt; width:156.37pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.196pt;">Issuance of representative shares </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">57,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">478,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.52pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">478,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:11.73pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="padding:2.213pt 0pt 0.5pt 0pt; width:156.37pt;text-align:left;">
              <div style="margin-left:9.8pt; text-indent:-9.8pt; line-height:11.74pt;">
                <font style="letter-spacing:0.196pt;">Re-measurement of carrying value of </font>
                <br >
                <font style="letter-spacing:0.196pt;">Class&#160;A ordinary shares subject to </font>
                <br >
                <font style="letter-spacing:0.196pt;">possible redemption to redemption </font>
                <br >
                <font style="letter-spacing:0.196pt;">value </font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(4,733,799<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.213pt 0pt 0.5pt 0pt; min-width:33pt; text-align:right; white-space:nowrap;">(4,733,799<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.51pt 0pt 2.535pt 0pt; width:156.37pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.196pt;">Net loss </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(1,239,720<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.51pt 0pt 2.535pt 0pt;border-bottom:1px solid #000000; min-width:33pt; text-align:right; white-space:nowrap;">(1,239,720<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.8pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9.8pt;">
            <td style="padding:3.26pt 0pt 3.285pt 0pt; width:156.37pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.196pt;">Balance as of December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">350,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.51pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:33.75pt; text-align:right; white-space:nowrap;">3,403,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:33.75pt; text-align:right; white-space:nowrap;">1,437,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.96pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(5,973,519<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt; width:3.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.26pt 0pt 2.535pt 0pt;border-bottom:3pt double #000000; min-width:33pt; text-align:right; white-space:nowrap;">(2,544,662<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The accompanying notes are an integral part of these consolidated financial statements. </font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">F-20</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fCSCFD1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:77pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP. </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONSOLIDATED STATEMENT OF CASH FLOWS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:494pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:377pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;text-align:center;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the period</font>
                <br >
                <font style="letter-spacing:-0.16pt;">from</font>
                <br >
                <font style="letter-spacing:-0.16pt;">February&#160;23, 2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Inception) to</font>
                <br >
                <font style="letter-spacing:-0.16pt;">December&#160;31,</font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash flows from operating activities:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Net loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">(1,239,720<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Adjustments to reconcile net loss to net cash used in operating activities: </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Formation costs paid by Sponsor </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">7,169</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Interest earned on cash and marketable securities held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">(2,104<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:30pt;">
                <font style="letter-spacing:0.2pt;">Changes in current assets and liabilities: </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Prepaid assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">(69,208<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Due to related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">355,863</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Accrued expenses </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">549,373</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:30pt;">
                <font style="letter-spacing:0.2pt;">Net cash used in operating activities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(398,627<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash flows from investing activities:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Investments held in Trust Account </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(58,075,000<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Net cash used in investing activities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(58,075,000<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash flows from financing activities:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Proceeds from initial public offering </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">49,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Proceeds from private placement </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">2,925,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Proceeds from overallotment, net of underwriter discount </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">7,350,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Payment of deferred offering costs </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">(387,956<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Net cash provided by financing activities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">58,887,044</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net change in cash </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">413,417</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:377pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash, beginning of the period </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:377pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Cash, end of the period</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">413,417</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1.5pt 0pt; width:377pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Supplemental disclosure of cash flow information:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:36.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 2.583pt 0pt; width:377pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Deferred offering costs paid by Sponsor in exchange for issuance of Class&#160;B ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">25,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 3.25pt 0pt; width:377pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Initial value of ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">57,500,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 3.25pt 0pt; width:377pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred underwriting commissions payable charged to additional paid in capital </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">2,012,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 2.583pt 0pt; width:377pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Re-measurement of carrying value of Class&#160;A ordinary shares subject to possible redemption to redemption value </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.26pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:1.417pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:36.75pt; text-align:right; white-space:nowrap;">4,733,799</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:3pt double #000000;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying notes are an integral part of these consolidated financial statements. </font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-21</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fCFSD1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI GROUP ACQUISITION CORP. </font>
        </div>
        <div style="margin-top:4pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font>
          <br >
          <font style="letter-spacing:-0.2pt;">DECEMBER 31, 2021</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 1&#8201;&#8212;&#8201;Organization and Business Operation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Group Acquisition Corp. (the &#8220;Company&#8221;) is newly incorporated blank check company incorporated as a British Virgin Island (&#8220;BVI&#8221;) business company on February&#160;23, 2021. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the &#8220;Business Combination&#8221;). The Company has not selected any potential Business Combination target and the Company has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any potential Business Combination target. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of December&#160;31, 2021, the Company had not commenced any operations. All activity for the period from February&#160;23, 2021 (inception) through December&#160;31, 2021 relates to the Company&#8217;s formation and the Proposed Public Offering (the &#8220;IPO&#8221;) as defined below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the IPO. The Company has selected December&#160;31 as its fiscal year end. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s Sponsor is BSG First Euro Investment Corp., a British Virgin Islands company (the &#8220;Sponsor&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The registration statement for the Company&#8217;s IPO was declared effective on June&#160;9, 2021 (the &#8220;Effective Date&#8221;). On June&#160;14, 2021 the Company consummated the IPO of 5,750,000&#160;units (the &#8220;Units&#8221;), including 750,000&#160;Units sold pursuant to the full exercise of the underwriters&#8217; option to purchase additional&#160;units to cover the over-allotment (the &#8220;Units&#8221; and, with respect to the Class&#160;A ordinary shares included in the Units being offered, the &#8220;Public Shares&#8221;), at US$10.00 per Unit, generating gross proceeds of US$57,500,000, which is discussed in Note 3. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Simultaneously with the closing of the IPO, the Company consummated the sale of 292,500&#160;units (the &#8220;Private Placement Unit&#8221;), at a price of US$10.00 per Private Placement Unit, generating gross proceeds of US$2,925,000, which is discussed in Note 4. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Transaction costs of the IPO amounted to US$4,158,799 consisting of US$1,150,000 of underwriting discount, US$2,012,500 of deferred underwriting discount, the fair value of the representative shares of US$478,857 and US$517,442 of other offering costs. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Upon the closing of the IPO, an aggregate of US$10.10 per Unit sold in the IPO, or an aggregate of US$58,075,000, was held in a Trust Account (&#8220;Trust Account&#8221;) and was invested only in U.S. government treasury bills with a maturity of 180&#160;days or less or in money market funds meeting certain conditions under Rule&#160;2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Proposed Public Offering and the private placement will not be released from the Trust Account until the earliest of (i)&#160;the completion of the initial Business Combination, (ii)&#160;the redemption of any public shares properly tendered in connection with a shareholder vote to amend the Company&#8217;s amended and restated memorandum and articles of association to (A)&#160;modify the substance or timing of the Company&#8217;s obligation to redeem 100% of the public shares if the Company does not complete the initial Business Combination within the Combination Period (defined below) or (B)&#160;with respect to any other provision relating to shareholders&#8217; rights or pre-Business Combination activity and (iii)&#160;the redemption of all of the public shares if the Company is unable to complete the initial Business Combination within the Combination Period (defined below), subject to applicable law. The proceeds deposited in the Trust Account could become subject to the claims of the creditors, if any, which could have priority over the claims of the public shareholders. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company will provide the public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination either (i)&#160;in connection with a </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">F-22</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">shareholder meeting called to approve the Business Combination or (ii)&#160;by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed Business Combination or conduct a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require the Company to seek shareholder approval under the law or stock exchange listing requirement. The Company will provide the public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, including interest, which interest shall be net of taxes payable, divided by the number of then outstanding public shares, subject to the limitations described herein. The amount in the Trust Account is initially anticipated to be US$10.10 per public share, which is subject to increase of up to an additional US$0.20 per unit in the event that the Sponsor elects to extend the period of time to consummate a Business Combination. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The ordinary shares subject to redemption were recorded at a redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221; In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least US$5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder approval, a majority of the issued and outstanding shares voted are voted in favor of the Business Combination. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company will have 12&#160;months from the closing of the IPO (the &#8220;Combination Period&#8221;) (or up to 18&#160;months from the closing of the IPO if the Company extend the period of time to consummate a Business Combination by the full amount of time) to complete the initial Business Combination. If the Company has not completed the initial Business Combination within the Combination Period, the Company will: (i)&#160;cease all operations except for the purpose of winding up, (ii)&#160;as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable, and less up to US$50,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders&#8217; rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii)&#160;as promptly as reasonably possible following such redemption, subject to the approval of the Company&#8217;s remaining shareholders and the Board of Directors, liquidate and dissolve, subject in each case to the Company&#8217;s obligations under British Virgin Islands law to provide for claims of creditors and the requirements of other applicable law. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Sponsor, officers and directors have agreed to (i)&#160;to waive their redemption rights with respect to their founder shares and public shares in connection with the completion of the initial Business Combination and (ii)&#160;to waive their rights to liquidating distributions from the trust account with respect to their founder shares if the Company fails to complete the initial Business Combination within the Combination Period (although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete the initial Business Combination within the Combination Period). If the Company submits the initial Business Combination to the public shareholders for a vote, the insiders have agreed, pursuant to such letter agreement, to vote their founder shares, private placement shares and any public shares purchased during or after the IPO in favor of the initial Business Combination. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i)&#160;US$10.10 per public share or (ii)&#160;such lesser amount per public share held in the trust account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company&#8217;s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third -party claims. The </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">F-23</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Company has not independently verified whether the Sponsor has sufficient funds to satisfy their indemnity obligations and believe that the Sponsor&#8217;s only assets are securities of the Company. The Company has not asked the Sponsor to reserve for such obligations. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On November&#160;18, 2021, the Company entered into an Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;) by and among the Company, Blue Safari Mini Corp., an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly-owned subsidiary of the Company (&#8220;Merger Sub&#8221;), and Bitdeer Technologies Holding Company, an exempted company incorporated with limited liability under the laws of the Cayman Islands (&#8220;Bitdeer&#8221;). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the Merger Agreement, the parties thereto will enter into a Business Combination transaction by which Merger Sub will merge with and into Bitdeer with Bitdeer being the surviving entity and becoming a wholly-owned subsidiary of the Company (the &#8220;Merger&#8221; and, together with the other transactions contemplated by the Merger Agreement, the &#8220;Transactions&#8221;). The Merger Agreement and the Transactions were unanimously approved by the boards of directors of each of the Company and Bitdeer. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On December&#160;15, 2021, the Company entered into an Amended and Restated Agreement and Plan of Merger (as amended from time to time, the &#8220;Merger Agreement&#8221;) by and among (i)&#160;the Company, (ii)&#160;Bitdeer Technologies Group, an exempted company with limited liability incorporated under the laws of the Cayman Islands (&#8220;BTG&#8221;), (iii)&#160;Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;Merger Sub 1&#8221;), (iv)&#160;Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of BTG (&#8220;Merger Sub 2&#8221;), (v)&#160;Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of BTG (&#8220;Merger Sub 3&#8221;, and together with BTG, Merger Sub 1 and Merger Sub 2, the &#8220;Acquisition Entities&#8221;), (vi)&#160;SPAC Sub, and (vii)&#160;the Company, to amend and restate the Original Merger Agreement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Merger Agreement amended and restated the Original Merger Agreement to effect a change in structure of the business combination without affecting any underlying economic interests, whereby (a)&#160;Merger Sub 1 will merge with and into the Company with the Company being the surviving entity (the &#8220;First SPAC Merger&#8221;) and becoming a wholly owned subsidiary of BTG, (b)&#160;immediately following the First SPAC Merger, the Company will merge with and into Merger Sub 2 with Merger Sub 2 being the surviving entity (the &#8220;Second SPAC Merger&#8221;, and together with the First SPAC Merger, the &#8220;Initial Mergers&#8221;), and (c)&#160;following the Initial Mergers, Merger Sub 3 will merge with and into the Company (the &#8220;Acquisition Merger&#8221; and together with the Initial Mergers, the &#8220;Mergers&#8221;), with the Company being the surviving entity and becoming a wholly owned subsidiary of BTG. The Merger Agreement and the transactions contemplated therein were unanimously approved by the boards of directors of each of the Company, BTG, Merger Sub 1, Merger Sub&#160;2, Merger Sub 3, and Bitdeer. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Mergers and other transactions contemplated by the Merger Agreement are expected to be consummated after obtaining the required approval by the shareholders of the Company and Bitdeer and the satisfaction of certain other customary closing conditions. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Going Concern Consideration</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of December&#160;31, 2021, the Company had US$413,417 in cash, and working capital deficit of US$535,626 (excluding future tax obligations). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s liquidity needs prior to the consummation of the IPO were satisfied through the proceeds of US$25,001 from the sale of the Founders Shares (as defined in Note 5), and loan proceeds from the Sponsor of US$200,000 under the Note (Note 5). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Subsequent from the consummation of the IPO, the Company&#8217;s liquidity has been satisfied through the net proceeds from the consummation of the IPO and the Private Placement held outside of the Trust Account. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company expects to incur increased expenses since becoming a public company (for legal, financial reporting, accounting and auditing compliance), as well as expenses in connection with the initial business combination. </font>
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          <font style="letter-spacing:0.2pt;">F-24</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company has until June&#160;14, 2022 to consummate a Business Combination (or December&#160;14, 2022 if it exercises its option to extend the date). It is uncertain that we will be able consummate a Business Combination by either date. If a Business Combination is not consummated by the required dates, there will be a mandatory liquidation and subsequent dissolution. In connection with the Company&#8217;s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Update (&#8220;ASU&#8221;) 2014-15, &#8220;Disclosure of Uncertainties About an Entity&#8217;s Ability to Continue as a Going Concern&#8221;, management has determined that mandatory liquidation, and subsequent dissolution, should the Company be unable to complete a business combination, raises substantial doubt about the Company&#8217;s ability to continue as a going concern. If a Business Combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after June&#160;14, 2022 (or December&#160;14, 2022 if extended). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based upon the above analysis, management determined that these conditions raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year after the date the consolidated financial statements are issued. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Risks and Uncertainties</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Management is currently evaluating the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company&#8217;s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 2&#8201;&#8212;&#8201;Summary of Significant Accounting Policies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Basis of Presentation</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (&#8220;US GAAP&#8221;) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Emerging Growth Company Status</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company is an &#8220;emerging growth company,&#8221; as defined in Section&#160;2(a) of the Securities Act, as modified by the Jumpstart our Business Startups Act of 2012, (the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section&#160;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Further, Section&#160;102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company&#8217;s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">F-25</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Use of Estimates</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Cash and Cash Equivalents</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company considers all short-term investments with an original maturity of three&#160;months or less when purchased to be cash equivalents. The Company has US$413,417 in cash and no cash equivalents as of December&#160;31, 2021. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Offering Costs Associated with IPO</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company complies with the requirements of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (&#8220;SAB&#8221;) Topic 5A&#8201;&#8212;&#8201;&#8220;Expenses of Offering&#8221;. Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the IPO and were charged to shareholders&#8217; equity upon the completion of the IPO. Accordingly, as of December&#160;31, 2021, offering costs in the aggregate of US$4,163,799 have been charged to shareholders&#8217; equity (consisting of US$1,150,000 of underwriting discount, US$2,012,500 of deferred underwriting discount, the fair value of the representative shares of US$478,857 and US$522,442 of other offering costs). </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Fair Value Measurements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The fair value of the Company&#8217;s assets and liabilities, which qualify as financial instruments under FASB ASC 820, &#8220;Fair Value Measurements and Disclosures,&#8221; approximates the carrying amounts represented in the balance sheet, primarily due to its short-term nature. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP stablishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level&#160;1 measurements) and the lowest priority to unobservable inputs (Level&#160;3 measurements). These tiers include: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Investments Held in Trust Account</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">At December&#160;31, 2021, the Company had US$58,077,104 assets held in the Trust Account, which primarily consist of investments in mutual funds that invest in U.S. government securities, cash, or a combination thereof. The Company&#8217;s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in gain on Investments Held in Trust Account in the accompanying statement of operations. The estimated fair values of investments held in the Trust Account are determined using available market information and classifies as Level&#160;1 measurements. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-26</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Class&#160;A Ordinary Shares Subject to Possible Redemption</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company accounts for its Class&#160;A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (&#8220;ASC&#8221;) Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221; Ordinary shares subject to mandatory redemption (if any) is classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company&#8217;s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders&#8217; equity. The Company&#8217;s Class&#160;A ordinary shares feature certain redemption rights that are considered to be outside of the Company&#8217;s control and subject to the occurrence of uncertain future events. Accordingly, at December&#160;31, 2021, 5,750,000 shares of Class&#160;A ordinary shares subject to possible redemption is presented at redemption value as temporary equity, outside of the shareholders&#8217; equity section of the Company&#8217;s balance sheet. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Net Income (loss) Per Ordinary Share</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company has two classes of shares, which are referred to as Class&#160;A ordinary shares and Class&#160;B ordinary shares. Earnings and losses are shared pro&#160;rata between the two classes of shares. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net loss per share for each class of ordinary shares: </font>
        </div>
        <table style="width:456pt;height:124pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:225pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">For the Period from February&#160;23, 2021</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Inception) to December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:225pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Redeemable</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Non-</font>
                <br >
                <font style="letter-spacing:-0.16pt;">redeemable</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:225pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">NUMERATOR </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:27.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:225pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Allocation of net loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(862,273<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:27.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(52,486<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(324,961<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:225pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">DENOMINATOR </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:27.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:225pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Weighted average shares outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">3,704,327</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:27.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">225,481</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,396,034</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:225pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Basic and diluted net loss per share </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:27.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:19.59pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(0.23<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:11.6pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Income Taxes</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company follows the asset and liability method of accounting for income taxes under FASB ASC&#160;740, &#8220;Income Taxes.&#8221; Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the consolidated financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statements recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company&#8217;s management determined that the British Virgin Islands is the Company&#8217;s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December&#160;31, 2021, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company&#8217;s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve&#160;months. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company is considered to be a British Virgin Islands business company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the Company&#8217;s tax provision was zero for the period presented. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-27</font>
          <br >
        </div>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Concentration of credit risk</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of US$250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Recent Accounting Pronouncements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In August&#160;2020, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) 2020-06, Debt&#8201;&#8212;&#8201;Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging&#8201;&#8212;&#8201;Contracts in Entity&#8217;s Own Equity (Subtopic 815-40) (&#8220;ASU 2020-06&#8221;) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity&#8217;s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity&#8217;s own equity. ASU 2020-06&#160;amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January&#160;1, 2024 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January&#160;1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company&#8217;s consolidated financial statements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 3&#8201;&#8212;&#8201;Initial Public Offering</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On June&#160;14, 2021, Company consummated its IPO and sold 5,750,000&#160;Units, including 750,000&#160;Units sold pursuant to the full exercise of the underwriters&#8217; option to purchase additional&#160;units to cover the over-allotment. Each Unit consists of one ordinary share (&#8220;Ordinary Share&#8221;) and one right (&#8220;Right&#8221;) to receive one-tenth of one Ordinary Share upon the consummation of an initial business combination. The Units were sold at a price of US$10.00 per unit, generating gross proceeds to the Company of US$57,500,000. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All of the 5,750,000 Class&#160;A ordinary share sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such public shares in connection with the Company&#8217;s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company&#8217;s certificate of incorporation. In accordance with SEC and its staff&#8217;s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Class&#160;A ordinary share is subject to SEC and its staff&#8217;s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company recognizes changes in redemption value immediately as they occur. Immediately upon the closing of the IPO, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of December&#160;31, 2021, the Class&#160;A ordinary shares subject to possible redemptions reflected on the balance sheet are reconciled in the following table: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-28</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:96pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gross proceeds from IPO </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:13.5pt; text-align:right; ">US$</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">57,500,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:379pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Less: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:379pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Ordinary shares issuance costs&#8199;&#8199;allocated to Class&#160;A ordinary shares subject to possible redemption </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(4,158,799<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:379pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Plus: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:379pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Re-measurement of carrying value to redemption value </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">4,733,799</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:379pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Class&#160;A ordinary shares&#8199;&#8199;subject to possible redemptions</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.59pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; ">
              <div style="font-weight:normal;">US$</div>
            </td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <font style="font-weight:bold;">58,075,000</font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:17.5pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 4&#8201;&#8212;&#8201;Private Placement</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Simultaneously with the closing of the IPO and the sale of the Units, the Company consummated the private placement (&#8220;Private Placement&#8221;) of an aggregate 292,500&#160;Units (&#8220;Private Placement Units&#8221;), which included the additional 22,500 Private Placement Units sold pursuant to the full exercise of the underwriters&#8217; option to cover the over-allotment. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Private Placement Units and their component securities will not be transferable, assignable or salable until 30&#160;days after the consummation of the initial Business Combination except to permitted transferees, and they will be non-redeemable and exercisable on a cashless basis so long as they are held by the Sponsor or its permitted transferees. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 5&#8201;&#8212;&#8201;Related Party Transactions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Founder Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">On February&#160;23, 2021 and March&#160;4, 2021, the Company&#8217;s Sponsor paid US$25,001, or approximately US$0.017 per share, to cover certain of the offering and formation costs in exchange for an aggregate of 1,437,500 Class&#160;B ordinary shares (&#8220;Founder shares&#8217;), with no par value per share, 187,500 shares of which were subject to forfeiture depending on the extent to which the underwriters&#8217; over-allotment option was exercised. On June&#160;14, 2021, the underwriter exercised the over-allotment option in full, hence, the 187,500 Founder Shares that are no longer subject to forfeiture. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s initial shareholders have agreed not to transfer, assign or sell any of its founder shares until the earlier to occur of: (A)&#160;six&#160;months after the completion of the initial Business Combination or (B)&#160;the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction after the initial Business Combination that results in all of the public shareholders having the right to exchange their ordinary shares for cash, securities or other property (except as described herein under &#8220;Principal Shareholders&#8201;&#8212;&#8201;Transfers of Founder Shares and Private Placement Units&#8221;). (the &#8220;Lock-up&#8221;). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Promissory Note&#8201;&#8212;&#8201;Related Party</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">On March&#160;1, 2021, the Company issued the Promissory Note to the Sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of US$200,000. The Promissory Note is non-interest bearing and payable on the date that the Company consummates the IPO of its securities or the date on which the Company determines not to conduct an IPO. On January&#160;20, 2022, the Company executed an amendment to extend the maturity date of the Promissory Note to March&#160;2, 2022, and the Company may in its sole discretion extend the initial maturity date for up to an additional six&#160;months in the event that the Company has not repaid in full the principal amount. As of December&#160;31, 2021, the Company had borrowed US$200,000 under the promissory note. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Due to Related Party</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The balance of US$355,863 is represented by US$67,333 accrued for the administrative support services provided by the Sponsor commencing on June&#160;9, 2021, and US$288,530 of accrued expenses paid by the Sponsor on behalf of the Company. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-29</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Working Capital Loans</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company&#8217;s officers and directors may, but are not obligated to, loan the Company funds as may be required (the &#8220;Working Capital Loans&#8221;). If the Company completes the initial Business Combination, the Company would repay the Working Capital Loans. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to US$1,150,000 of the Working Capital Loans may be convertible into&#160;units of the post Business Combination entity at a price of US$10.00 per unit at the option of the lender. The&#160;units would be identical to the Private Placement Units. As of December&#160;31, 2021, no such Working Capital Loans were outstanding. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 6&#8201;&#8212;&#8201;Commitments &amp; Contingencies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Registration Rights</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The holders of the founder shares, Private Placement Units, shares being issued to the underwriters of the Proposed Public Offering, and&#160;units that may be issued on conversion of Working Capital Loans (and in each case holders of their component securities, as applicable) will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of the Proposed Public Offering requiring the Company to register such securities for resale (in the case of the founder shares, only after conversion to the Class&#160;A ordinary shares). The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain &#8220;piggy-back&#8221; registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule&#160;415 under the Securities Act. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Underwriting Agreement</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The underwriters have a 45-day option from June&#160;14, 2021 to purchase up to an additional 750,000&#160;Units, consisting of 750,000 Class&#160;A ordinary shares and 750,000 rights to cover over-allotments, if any. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On June&#160;14, 2021, the underwriter fully exercised the over-allotment option to purchase 750,000&#160;Units, and paid an underwriting commission in aggregate of US$1,150,000. Additionally, the underwriters will be entitled to a deferred underwriting commissions of 3.5% of the gross proceeds of the IPO held in the Trust Account, or US$2,012,500 upon the completion of the Company&#8217;s initial Business Combination subject to the terms of the underwriting agreement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Representative&#8217;s Ordinary Shares</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company issued to Maxim Partners LLC and/or its designees, 57,500 shares upon the consummation of the IPO. Maxim has agreed not to transfer, assign or sell any such shares until the completion of our initial business combination. In addition, Maxim has agreed (i)&#160;to waive its redemption rights with respect to such shares in connection with the completion of our initial business combination and (ii)&#160;to waive its rights to liquidating distributions from the trust account with respect to such shares if the Company fails to complete our initial business combination within 12&#160;months from the closing of the IPO, or up to 18&#160;months from the closing of the IPO if the Company extends the period of time to consummate a business combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180&#160;days immediately following the date of the commencement of sales in the IPO pursuant to FINRA Rule&#160;5110(e)(1). Pursuant to FINRA Rule&#160;5110(e)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180&#160;days immediately following the effective date of the registration statement of which the prospectus forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180&#160;days immediately following the effective date of the registration statement of which the prospectus forms a part except to any underwriter and selected dealer participating in the offering and their officers, partners, registered persons or affiliates. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-30</font>
          <br >
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      </div>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:288pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Right of First Refusal</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For a period beginning on the closing of the IPO and ending 12&#160;months from the closing of a business combination, the Company has granted Maxim a right of first refusal to act as lead-left book running manager and lead left placement agent for any and all future private or public equity, equity-linked, convertible and debt offerings during such period. In accordance with FINRA Rule&#160;5110(g)(6)(A), such right of first refusal shall not have a duration of more than three&#160;years from the commencement of sales in the IPO. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 7&#8201;&#8212;&#8201;Shareholders&#8217; Equity</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Preference Shares &#8212;</font><font style="letter-spacing:0.2pt;"> The Company is authorized to issue a total of 1,000,000 preferred shares with no par value. As of December&#160;31, 2021, there were no preference shares issued or outstanding. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Class&#160;A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;The Company is authorized to issue a total of 100,000,000 Class&#160;A ordinary shares with no par value. As of December&#160;31, 2021, there were 350,000 Class&#160;A ordinary shares outstanding, excluding 5,750,000 Class&#160;A ordinary shares subject to possible redemption. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Class&#160;B Ordinary Shares &#8212;</font><font style="letter-spacing:0.2pt;"> The Company is authorized to issue a total of 10,000,000 Class&#160;B ordinary shares with no par value. As of December&#160;31, 2021, there were 1,437,500 Class&#160;B ordinary shares issued and outstanding. The Class&#160;B ordinary shares will automatically convert into Class&#160;A ordinary shares at the time of the initial Business Combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as provided herein and in the Company&#8217;s amended and restated memorandum and articles of association. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Note 8&#8201;&#8212;&#8201;Subsequent Events</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the consolidated financial statements were issued. Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the consolidated financial statements.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-31</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fROIR">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-bottom:26pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To the Shareholders and Board of Directors of </font> <br ><font style="letter-spacing:0.2pt;">Bitdeer Technologies Holding Company </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Opinion on the Financial Statements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have audited the accompanying combined and consolidated statements of financial position of Bitdeer Technologies Holding Company and its subsidiaries (the &#8220;Company&#8221;) as of December&#160;31, 2021 and 2020, and the related combined and consolidated statements of operations and comprehensive income/(loss), changes in invested capital and equity, and cash flows for each of the three&#160;years in the period ended December&#160;31, 2021, and the related notes (collectively referred to as the &#8220;financial statements&#8221;). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December&#160;31, 2021 and 2020, and the results of its operations and its cash flows for each of the three&#160;years in the period ended December&#160;31, 2021, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Restatement of the 2019 and 2020 Financial Statements</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As discussed in Note 2(a) to the financial statements, the accompanying combined statements of operation and comprehensive income/(loss) and cash flows for the&#160;years ended December&#160;31, 2020 and 2019 have been restated to correct certain misstatements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Basis for Opinion</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">These financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&#8220;PCAOB&#8221;) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal control over financial reporting. Accordingly, we express no such opinion. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">/s/ MaloneBailey, LLP</font>
        </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">www.malonebailey.com </font>
        </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have served as the Company&#8217;s auditor since 2021. </font>
        </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Houston, Texas </font> <br ><font style="letter-spacing:0.2pt;">May&#160;25, 2022</font></div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-32</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fBTHC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-bottom:72pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <table style="width:456pt;height:487pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:312.48pt;text-align:left;">&#8203;</td>
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              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
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            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31, </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2021 </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">ASSETS</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash and cash equivalents </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">5 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">44,753</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">372,088</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">6 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">9,582</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">6,187</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trade receivables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">419</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">8,238</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amounts due from related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">17 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">611,029</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1,500</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">8 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">64,800</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">46,469</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Prepayments and other assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">7 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">14,876</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">35,887</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Restricted cash </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">5 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">7,339</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">10,310</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Right-of-use assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">10 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">18,168</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">58,941</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">9 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">52,158</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">102,617</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">76</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">115</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred tax assets </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">16 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">30,102</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">4,622</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">TOTAL ASSETS</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.75pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">853,302</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">646,974</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">LIABILITIES</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trade payables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">3,062</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other payables and accruals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">12 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">6,953</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">17,258</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amounts due to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">17 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">662,948</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income tax payables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">56</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">10,454</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred revenue </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">11,552</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">213,449</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Borrowings </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">11 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">10 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">21,950</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">62,968</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred tax liabilities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">16 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">7,547</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">TOTAL LIABILITIES</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.75pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">707,398</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">358,895</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 3.25pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">NET ASSETS</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.75pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">288,079</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">EQUITY</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Invested capital </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">15 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share capital </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">15 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Retained earnings </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">15 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">67,169</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Reserves </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:16.33pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">15 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">220,909</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:312.48pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">TOTAL EQUITY</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.75pt 0pt; width:16.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">288,079</td>
            <td style="padding:0pt;padding-left:6.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:4.5pt; text-align:center; width:456pt; line-height:11.5pt;font-size:9.5pt;">
          <font style=" position:relative; bottom:4pt;letter-spacing:0.19pt;">The accompanying notes form an integral part of these combined and consolidated financial statements.</font><font style="font-size:10pt;">&#8203;<font style="letter-spacing:0.2pt;"> </font></font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-33</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fBTHC1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:63pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS AND </font>
          <br >
          <font style="letter-spacing:-0.2pt;">COMPREHENSIVE INCOME / (LOSS)</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar, except for per share data)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:486pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:223.76pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:223.76pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Revenue</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">2(a), 2(p) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">88,771</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">186,387</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">394,661</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:223.76pt;text-align:left;">
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                <font style="letter-spacing:0.2pt;">Cost of revenue </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt;" colspan="4">
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                <font style="letter-spacing:0.2pt;">2(a), 13(a) </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(98,839<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(209,564<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(153,255<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
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                <font style="letter-spacing:-0.2pt;">Gross profit / (loss)</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(10,068<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(23,177<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">241,406</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Selling expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">13(a<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(3,137<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(5,567<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(8,448<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">General and administrative expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">13(a<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(7,550<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(20,268<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(89,735<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Research and development expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">13(a<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(4,746<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(9,790<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(29,501<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other operating income / (expenses) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">13(b<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(6,027<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(2,045<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">14,625</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other net gain / (loss) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">13(c<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">230</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(2,560<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">2,483</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Profit / (loss) from operations</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(31,298<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(63,407<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">130,830</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Finance income / (expenses) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">13(d<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">468</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(380<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">59</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Profit / (loss) before taxation</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(30,830<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(63,787<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">130,889</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income tax benefit / (expenses) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">16</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">2,930</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">7,961</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(48,246<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Profit / (loss) for the year</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">82,643</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Other comprehensive income / (loss)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Profit / (loss) for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">82,643</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Other comprehensive income / (loss) for the year</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:italic;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Item that may be reclassified to profit or loss</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.167pt 0pt 1.833pt 0pt; width:223.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">&#8211; Exchange differences on translation of financial statements </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(690<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">905</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:1.917pt 0pt 1.833pt 0pt; width:223.76pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:-0.2pt;">Other comprehensive income / (loss) for the year, </font>
                <br >
                <font style="letter-spacing:-0.2pt;">net of tax</font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(690<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">905</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Total comprehensive income / (loss) for the year</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(28,590<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(54,921<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">82,448</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Earnings / (loss) per share</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Basic </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; white-space:nowrap;">18</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">0.01</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 3.25pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Diluted </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; white-space:nowrap;">18</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">0.01</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:7.417pt 0pt 0.833pt 0pt; width:223.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:-0.2pt;">Weighted average number of shares outstanding (thousand shares)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Basic </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">18</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:223.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Diluted </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">18</td>
            <td style="padding:0pt;padding-left:14.575pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,977,177</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:4.5pt; text-align:center; width:456pt; line-height:11.5pt;font-size:9.5pt;">
          <font style=" position:relative; bottom:4pt;letter-spacing:0.19pt;">The accompanying notes form an integral part of these combined and consolidated financial statements.</font><font style="font-size:10pt;">&#8203;<font style="letter-spacing:0.2pt;"> </font></font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-34</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fBTHC2">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF CHANGES IN </font>
          <br >
          <font style="letter-spacing:-0.2pt;">INVESTED CAPITAL AND EQUITY</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <div style="margin-top:12pt;margin-bottom:270pt;margin-left:27.16pt;width:541pt;">
        <table style="width:541pt;height:295pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Note </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Share </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capital </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Retained </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Earnings </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Exchange </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Reserve </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Other </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Reserve </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Invested </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capital </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Total </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Equity </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Balance at January&#160;1, 2019</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(61,910<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(61,910<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loss for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other comprehensive loss </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(690<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(690<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deemed contribution from related parties </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">28,882</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">28,882</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Balance at December&#160;31, 2019 and January&#160;1, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(61,618<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(61,618<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loss for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">&#8212;</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other comprehensive income </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">905</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">905</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Capital contribution received from related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">420,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">420,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deemed distribution to related parties </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(157,557<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(157,557<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Balance at December&#160;31, 2020 and January&#160;1, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">145,904</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Profit for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">67,169</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">15,474</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">82,643</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other comprehensive loss </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Capital share allotment relating to the Reorganization </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(1<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share-based payments </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">14</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">88,355</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">88,355</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Recognition of equity component of convertible debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">11</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">683</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">683</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deemed distribution to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(29,311<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">(29,311<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Reclassification of invested capital </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">132,067</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">(132,067<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:248.84pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Balance at December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.165pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">1</td>
            <td style="padding:0pt;padding-left:7.375pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">67,169</td>
            <td style="padding:0pt;padding-left:1.06pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">(195<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.07pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">221,104</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">288,079</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:4.5pt; text-align:center; width:456pt; line-height:11.5pt;font-size:9.5pt;">
          <font style=" position:relative; bottom:4pt;letter-spacing:0.19pt;">The accompanying notes form an integral part of these combined and consolidated financial statements.</font><font style="font-size:10pt;">&#8203;<font style="letter-spacing:0.2pt;"> </font></font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-35</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fBTHC3">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:604pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:313.79pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash flows from operating activities</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Profit / (loss) for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">82,643</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Adjustments for: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Revenues recognized on acceptance of cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(81,331<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(170,228<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(333,668<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Depreciation and amortization </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">47,520</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">112,037</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">63,055</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share-based payment expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">88,355</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Loss / (gain) on disposal of property, plant and equipment and intangible </font>
                <br >
                <font style="letter-spacing:0.2pt;">assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">126</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(66<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(56<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loss on disposal of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">2,451</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">2,984</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">36</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Impairment charges </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">4,236</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">2,567</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loss / (gain) on foreign currency transactions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(394<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(618<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">226</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gain on extinguishment of debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(880<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gain on settlement of balance with Bitmain </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(4,468<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loss on disposal of subsidiaries </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">8</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest income </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(1,165<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(419<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(2,947<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest expense on bank loan </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">6</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest accretion on lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">955</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">817</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">1,217</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest expense on convertible debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">1,223</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gain on lease modification </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(363<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(6<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(205<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income tax expenses / (benefit) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,930<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(7,961<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">48,246</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:9.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Changes in: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Restricted cash </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,701<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(2,622<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(2,971<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">92,093</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">170,347</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">492,392</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trade receivable </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(13,258<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Prepayments and other assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,396<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(5,381<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(4,330<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Mining machines held for sale </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">4,784</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">17,440</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">5,957</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amounts due from related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(413<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trade payable </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">2,367</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">512</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">12,508</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred revenue </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">753</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(2,151<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">6,782</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amounts due to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other payables and accruals </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(196<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">1,670</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">12,667</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash generated from operating activities: </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">31,673</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">64,771</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">454,708</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest paid on leases </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(1,028<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(842<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(1,217<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest paid on loan </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(1,080<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest received </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">1,147</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">340</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">2,202</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income taxes paid </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(2<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(382<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(19<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Income tax refunded </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">62</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:313.79pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net cash generated from operating activities</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">31,790</td>
            <td style="padding:0pt;padding-left:1.55pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">63,887</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">454,656</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:4.5pt; text-align:center; width:456pt; line-height:11.5pt;font-size:9.5pt;">
          <font style=" position:relative; bottom:4pt;letter-spacing:0.19pt;">The accompanying notes form an integral part of these combined and consolidated financial statements.</font><font style="font-size:10pt;">&#8203;<font style="letter-spacing:0.2pt;"> </font></font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-36</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:141.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS</font>
          <br >
          <font style="letter-spacing:-0.2pt;">(Amounts in tables are stated in thousands of U.S. Dollar)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:417.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:311.89pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:311.89pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash flows from investing activities</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Purchase of property, plant and equipment and intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(11,513<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(19,851<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(62,882<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Purchase of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(54,779<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(124,033<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(26,611<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Purchase of cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(60,045<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loans to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(196,854<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(161,000<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(32,166<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Repayments from related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">194,353</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">21,698</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:311.89pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Proceeds from disposal of property, plant and equipment and intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">117</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">159</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Proceeds from disposal of cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">61,431</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Proceeds from disposal of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">51</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposal of subsidiaries, net of cash disposed of </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(14,855<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net cash used in investing activities</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(263,029<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(110,321<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(112,553<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cash flows from financing activities</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Proceeds from bank loan </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">871</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Capital element of lease rentals paid </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(2,919<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(4,517<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(4,181<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Capital contribution received from related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">420,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deemed contribution from / (distribution to) related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">231,656</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(394,772<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(10,943<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Repayments of borrowings from related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(2,325<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(29,302<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Proceeds from convertible debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">30,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Borrowings from related parties </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">9,194</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net cash generated from / (used in) financing activities</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">226,412</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">30,776</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(14,426<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net (decrease) / increase in cash and cash equivalents</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(4,827<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(15,658<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">327,677</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash and cash equivalents at January&#160;1 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">65,286</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">59,826</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">44,753</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:2.167pt 0pt 1.833pt 0pt; width:311.89pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Effect of movements in exchange rates on cash and cash </font>
                <br >
                <font style="letter-spacing:0.2pt;">equivalents held </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(633<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">585</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(342<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:311.89pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Cash and cash equivalents at December&#160;31</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">59,826</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">44,753</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">372,088</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:4.5pt; text-align:center; width:456pt; line-height:11.5pt;font-size:9.5pt;">
          <font style=" position:relative; bottom:4pt;letter-spacing:0.19pt;">The accompanying notes form an integral part of these combined and consolidated financial statements.</font><font style="font-size:10pt;">&#8203;<font style="letter-spacing:0.2pt;"> </font></font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-37</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="fNTTC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">1.&nbsp;&nbsp;&nbsp;ORGANIZATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General information</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Technologies Holding Company (the &#8220;Company&#8221; or &#8220;Bitdeer&#8221;) is a limited liability company incorporated in the Cayman Islands on November&#160;18, 2020. The address of its registered office is 89 Nexus Way, Camana Bay, Grand Cayman KY1-9009, Cayman Islands. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company does not conduct any substantive operations on its own but conducts its primary operations through its subsidiaries. The Company and its subsidiaries (together, the &#8220;Group&#8221;) are principally engaged in the following business activities: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Offering to its customers plan subscriptions, from which the customers receive computing service in quantity measured in hash rate and benefit from such service as a result of directing the computing service to mining pools and receiving cryptocurrency rewards (the &#8220;Cloud Hash Rate business&#8221;); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Using the Group&#8217;s mining machines to provide transaction validation service to mining pools in exchange for cryptocurrencies rewards (the &#8220;Proprietary Mining business&#8221;); and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Providing dynamic hosting solutions in the Group&#8217;s mining datacenters (the &#8220;Hosting business&#8221;, together with Cloud Hash Rate business and Proprietary Mining business, the &#8220;Bitdeer Business&#8221;). </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Reorganization</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Separation from Bitmain</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For the&#160;years ended December&#160;31, 2019 and 2020, and the period from January&#160;1, 2021 to January&#160;26, 2021, the Bitdeer Business and the mining pool business, including the ownership of and registration right to the domain name btc.com (the &#8220;BTC.com Pool Business&#8221; or &#8220;BTC&#8221;), were operated through a number of entities controlled by BitMain Technologies Holding Company (collectively with its subsidiaries, &#8220;Bitmain&#8221;). The Company was created to separate the Bitdeer Business and the BTC.com Pool Business following a corporate reorganization of Bitmain to effectuate the separation. The separation from Bitmain resulted in the transfer of certain assets, liabilities and contracts related to the Bitdeer Business and the BTC.com Pool Business at their historical book values from Bitmain to the Company on January&#160;26, 2021, when Bitmain distributed by way of dividend in kind the shares of the Company to the then existing Bitmain shareholders and the Company and its subsidiaries began to operate on a stand-alone basis. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Separation of the BTC.com Pool Business</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In February&#160;2021, the Group established Blockchain Alliance Technologies Holding Company (&#8220;Blockchain Alliance&#8221;) to separate the BTC.com Pool Business following a corporate reorganization of the Group to effectuate the separation. The separation was consummated on April&#160;15, 2021, when the Group distributed by way of dividend in kind the shares of Blockchain Alliance to the then existing shareholders of the Group. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">2.&nbsp;&nbsp;&nbsp;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">a.&nbsp;&nbsp;&nbsp;Basis of preparation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The accompanying combined and consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated historical financial statements comprise the following financial information: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-38</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:10pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:10pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:50pt;">
          <font style="letter-spacing:0.2pt;">the combined financial position of the Bitdeer Business as of December&#160;31, 2020 and the combined results of operations of the Bitdeer Business during the&#160;years ended December&#160;31, 2019 and 2020, and the period from January&#160;1, 2021 to April&#160;15, 2021 (the &#8220;Carve-out Period&#8221;), which have been prepared on a carve-out basis; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:50pt;">
          <font style="letter-spacing:0.2pt;">the consolidated financial position of the Group as of December&#160;31, 2021 and the consolidated results of operations of the Group for the period from April&#160;16, 2021 to December&#160;31, 2021, which have been prepared on a consolidated basis (together, the &#8220;combined and consolidated financial statements&#8221;). </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Preparing</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">combined financial statements of Bitdeer Business on a carve-out basis</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the Reorganization discussed in Note 1, the Group prepared the combined financial statements to capture the stand-alone Bitdeer Business, which has historically operated as part of Bitmain. The Group also excluded the assets, liabilities, operation results and cash flows of BTC.com Pool Business from its combined financial statements as a result of the Reorganization. The combined financial statements have not historically been prepared for the Bitdeer business. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In preparing the combined historical financial information, certain accounting conventions commonly used for the preparation of combined historical financial information have been applied. The term &#8220;combined financial statements&#8221; is used when referring to financial information prepared by aggregating financial statements of separate entities or components of groups that fail to meet the definition of a &#8220;group&#8221; under IFRS 10 </font><font style="font-style:italic;letter-spacing:0.2pt;">Consolidated financial statements</font><font style="letter-spacing:0.2pt;">. A key assumption underlying the preparation of combined financial statements is that there is a binding element for the economic activities throughout the period presented. The combined financial statements of the Group have been prepared by aggregating the financial information of the Bitdeer Business that was bound together by common control but was not a legal group. Intra-group transactions and the balances and unrealized gains or losses have been eliminated in the preparation of the combined financial statements. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The combined financial statements of the Bitdeer Business are derived from the historical accounting records of Bitmain on the following basis: </font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">The combined statements of financial position of the Bitdeer Business include all assets and liabilities that have been determined to be directly attributable to the Bitdeer Business. Certain assets and liabilities historically arising from Bitmain&#8217;s business (non Bitdeer Business) have been attributed to the combined financial statements as they were transferred to the Group during the Reorganization. The most significant of which were due from and due to Bitmain balances recorded under amounts due from related parties and amounts due to related parties in the combined and consolidated statements of financial position as of December&#160;31, 2020. Transactions between the Bitdeer Business, Bitmain and BTC during the Carve-out Period were accounted for as related party transactions. Internal financing transactions, including equity transactions in the nature of internal financing, between the Bitdeer Business, Bitmain and BTC are included in the investing and financing activities and operating transactions between the Bitdeer Business, Bitmain and BTC are included in the operating activities in the combined and consolidated statements of cash flows. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">The combined statements of operations and comprehensive income / (loss) of the Bitdeer Business include all revenues and costs directly attributable to the Bitdeer Business. These include certain common operating and administrative expenses incurred by the Bitdeer Business in conjunction with other business operations of Bitmain and BTC, including financial, human resources, office administration and other support functions. These costs have been allocated on a basis considered reasonable by management using either specific identification or proportional allocations based on usage, headcount, or other reasonable methods of allocation. Income tax expense was estimated based on the statutory tax rate, adjusted as appropriate for </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-39</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:60pt; margin-top:12pt; text-align:justify; width:396pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">the effects of known non-taxable and non-deductible items reported in the combined statements of operations and comprehensive income / (loss) as described above. However, the combined financial statements of the Bitdeer Business may not reflect the actual costs that would have been incurred and may not be indicative of the Bitdeer Business&#8217;s combined results, financial position, and cash flows had it been operating on a separate, stand-alone basis during the periods presented. </font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(iii)</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Business did not comprise a separate legal entity or group of entities during the Carve-out Period. Therefore, it is not meaningful to present share capital or an analysis of reserves. The Group&#8217;s equity balance represented the excess or deficits of total assets over total liabilities and was presented as invested capital in the combined and consolidated statements of financial position. Changes in net assets attributed to the Group are presented separately in the combined and consolidated statement of changes in invested capital and equity through the line item &#8220;deemed contribution from / (distribution to) related parties&#8221;. Equity transactions reflecting the internal financing between Bitdeer Business, Bitmain and BTC are included in the financing activities, presented as deemed contribution from / (distribution to) related parties, in the combined and consolidated statements of cash flows. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Consolidation</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subsequent to the Carve-out Period, the Group&#8217;s financial information is prepared on a consolidated basis, for which the consolidation policies are described below. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subsidiaries are all entities over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Inter-company transactions, balances and unrealized gains on transactions between the Company and its subsidiaries are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Restatement of prior&#160;years&#8217; financial statements</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Presentation on the sale of mining machines</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">During 2021, the Group identified an error in presenting the revenue from the sale of the mining machine as the difference between the selling price and the remaining net book value of the associated mining machine under IAS 16 </font><font style="font-style:italic;letter-spacing:0.2pt;">Property, plant and equipment</font><font style="letter-spacing:0.2pt;">. As the sale of mining machines represents contracts with customers in the Group&#8217;s ordinary course of business, the transactions should have been accounted for under IFRS 15 </font><font style="font-style:italic;letter-spacing:0.2pt;">Revenue from contracts with customers</font><font style="letter-spacing:0.2pt;">. Revenue from the sale of mining machines should have been recognized at the amount of promised consideration to which the Group is expected to be entitled, and the cost of revenue should have been recognized at the net book value of the mining machines sold. See Note 2(p) for a detailed discussion on the revenue recognition policy associated with the sale of mining machines. The previously reported combined financial statements for the&#160;years ended December&#160;31, 2019 and 2020 are restated to correct the above error. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Cash flow presentation on the disposal of cryptocurrencies earned from revenue arrangements</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group restated the presentation of disposal of cryptocurrencies earned from revenue arrangements from investing activities to operating activities on the combined statements of cash flows for the years ended December 31, 2019 and 2020 to present cash flows in the manner which is most appropriate to the Group&#8217;s business. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-40</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The effects of the above adjustments on the combined statements of operations and comprehensive income / (loss) and cash flows, for the&#160;years ended December&#160;31, 2019 and 2020, are presented below. These adjustments did not have any impact on the net loss or the combined statement of financial position for the periods presented. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Restated combined and consolidated statements of operations and comprehensive income / (loss)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:416pt;height:59.5pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:199.53pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:44.11pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:99.21pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:199.53pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:44.11pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As previously </font>
                <br >
                <font style="letter-spacing:-0.16pt;">reported </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:99.21pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Effect of adjustment &#8212;sale of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">mining machines </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">As restated </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:199.53pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Revenue </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.535pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">83,379</td>
            <td style="padding:0pt;padding-left:6.535pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:36.585pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">5,392</td>
            <td style="padding:0pt;padding-left:36.585pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.055pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">88,771</td>
            <td style="padding:0pt;padding-left:3.055pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:199.53pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cost of revenue </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.535pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(93,447<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:6.535pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:36.585pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(5,392<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:36.585pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.055pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(98,839<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:3.055pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:416pt;height:59.5pt;margin-left:20pt;margin-top:8pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:199.53pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:44.11pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:99.21pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:199.53pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:44.11pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As previously </font>
                <br >
                <font style="letter-spacing:-0.16pt;">reported </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:99.21pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Effect of adjustment &#8212;sale of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">mining machines </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">As restated </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:199.53pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Revenue </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">168,850</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:34.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">17,537</td>
            <td style="padding:0pt;padding-left:34.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">186,387</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:199.53pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cost of revenue </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(192,027<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:34.085pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(17,537<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:34.085pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(209,564<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:16.7pt; width:436pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Restated combined and consolidated statements of cash flows</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:416pt;height:59.5pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:184.02pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:44.11pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Effect of adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:184.02pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:44.11pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As previously </font>
                <br >
                <font style="letter-spacing:-0.16pt;">reported</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:48.23pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Sale of mining </font>
                <br >
                <font style="letter-spacing:-0.16pt;">machines </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:54.49pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Disposal of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">As restated </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:184.02pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash flows from operating activities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(62,332<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.095pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">5,729</td>
            <td style="padding:0pt;padding-left:11.095pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.725pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">88,393</td>
            <td style="padding:0pt;padding-left:11.725pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">31,790</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:184.02pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash flows from investing activities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(168,907<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.095pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(5,729<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:11.095pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.725pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(88,393<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:11.725pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(263,029<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:416pt;height:59.5pt;margin-left:20pt;margin-top:8pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:184.02pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:44.11pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Effect of adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:184.02pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:44.11pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">As previously </font>
                <br >
                <font style="letter-spacing:-0.16pt;">reported</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:48.23pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Sale of mining </font>
                <br >
                <font style="letter-spacing:-0.16pt;">machines </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:54.49pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Disposal of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:37.15pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">As restated </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:184.02pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash flows from operating activities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(124,395<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.595pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">15,219</td>
            <td style="padding:0pt;padding-left:8.595pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.225pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">173,063</td>
            <td style="padding:0pt;padding-left:9.225pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">63,887</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:184.02pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cash flows from investing activities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">77,961</td>
            <td style="padding:0pt;padding-left:4.035pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.595pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(15,219<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:8.595pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.225pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(173,063<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:9.225pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(110,321<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.555pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:16.7pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">b.&nbsp;&nbsp;&nbsp;Basis of accounting</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated financial statements, except for the combined and consolidated statements of cash flows, are prepared on the accrual basis. The measurement basis used is historical cost, except for certain accounts which are measured using the basis mentioned in the relevant notes herein. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated statements of cash flows are prepared using the indirect method and present the changes in cash from operating, investing, and financing activities. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated financial statements provide comparative information in respect of the previous period. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">c.&nbsp;&nbsp;&nbsp;Foreign currency translation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Functional and presentation currency</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Items included in the combined and consolidated financial statements of each of the Group&#8217;s subsidiaries are measured using the currency of the primary economic environment in which the subsidiary operates (the &#8220;functional currency&#8221;). The Group presents its combined and consolidated financial statements in United States Dollars (&#8220;USD&#8221;, &#8220;US$&#8221;, or &#8220;$&#8221;). </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-41</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Transactions and balances</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Foreign currency transactions during the year are translated at the foreign exchange rates ruling at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rates ruling at the end of the reporting period. Exchange gains and losses are recognized in profit or loss. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the foreign exchange rates ruling at the transaction dates. The transaction date is the date on which the Group initially recognizes such non-monetary assets or liabilities. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Foreign currency translation</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into the presentation currency as follows: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">assets and liabilities for each combined and consolidated statement of financial position presented are translated at the closing rate at the date of that balance sheet, </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">income and expenses for each combined and consolidated statement of operations and comprehensive income / (loss) are translated at average exchange rates, and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">all resulting exchange differences are recognized in invested capital and reserves. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">d.&nbsp;&nbsp;&nbsp;Use of estimates and judgments</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The preparation of financial statements in conformity with IFRSs requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Judgments made by management in the application of IFRSs that have significant effects on the financial statements and major sources of estimation uncertainty are discussed in Note 3. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The outbreak of the 2019 novel strain of coronavirus causing a contagious respiratory disease known as COVID-19, and the subsequent restrictive measures including social distancing, quarantine imposed by the governments around the world, and related travel and trade restrictions have caused disruption to businesses and resulted in significant global economic impacts. As at the date of this report, these impacts have not had a significant effect on the Group&#8217;s financial results or operations. However, as the impact of COVID-19 continues to evolve, including changes in government policy and business reactions thereto, if the Group&#8217;s staff are unable to work or travel due to illness or government restrictions, the Group may be forced to reduce or suspend its construction and development activities. In addition, as the COVID-19 pandemic and mitigation measures have also negatively impacted global economic conditions, this, in turn, could adversely affect the Group&#8217;s business in the future. Due to the continually evolving nature of COVID-19, the management cannot reasonably estimate the effects that the COVID-19 pandemic could have on the Group in future periods and believes that any disturbance may be temporary. However, there is uncertainty about the length and potential impact of any resultant disturbance. As a result, the Group is unable to estimate the potential impact on its future operations as at the date of these financial statements. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-42</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">e.&nbsp;&nbsp;&nbsp;Related parties</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A party is considered to be related to the Group if: </font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">the party is a person or a close member of that person&#8217;s family and that person </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">i)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">has control or joint control over the Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">ii)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">has significant influence over the Group; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iii)</font>
          <br >
        </div>
        <div style=" margin-top:8.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">is a member of the key management personnel of the Group or a parent of the Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">the party is an entity where any of the following conditions applies: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">i)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">the entity and the Group are members of the same Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">ii)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iii)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">the entity and the Group are joint ventures of the same third party; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iv)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">one entity is a joint venture of a third entity and the other entity is an associate of the third entity; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">v)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">vi)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">the entity is controlled or jointly controlled by a person identified in (a); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">vii)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">viii)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:80pt;">
          <font style="letter-spacing:0.2pt;">the entity, or any member of the Group of which it is a part, provides key management personnel services to the Group or the parent of the Group. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Close members of the family of a person are those family members who may be expected to influence, or be influenced by, that person in their dealings with the entity. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Transactions involving related parties cannot be presumed to be carried out on an arm&#8217;s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm&#8217;s-length transactions unless such representations can be substantiated. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">f.&nbsp;&nbsp;&nbsp;Cash, cash equivalents and restricted cash</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cash and cash equivalents comprise cash in banks and on hand and short-term, highly liquid investments that are readily convertible into known amounts of cash which are subject to an insignificant risk of changes in value and are within three&#160;months of maturity at acquisition. Cash and cash equivalents are assessed for expected credit losses. See further discussion regarding expected credit loss in Note 2(t). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group is required to hold a defined amount of cash as security under the terms of standby letters of credits arrangement. See further discussion in Note 5. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">g.&nbsp;&nbsp;&nbsp;Trade receivables</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Trade receivables are recognized when the Group has an unconditional right to receive consideration. A right to receive consideration is unconditional if only the passage of time is required before payment of </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-43</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">that consideration is due. Trade receivables are stated at amortized cost, less a loss allowance based on lifetime expected credit losses at each reporting date. See further discussion regarding expected credit loss in Note 2(t). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">h.&nbsp;&nbsp;&nbsp;Cryptocurrencies</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrencies are, by their nature, identifiable non-monetary assets that lack physical substance. Future economic benefits attributable to cryptocurrencies are expected to flow to the Group because cryptocurrencies can be exchanged for fiat currencies. Furthermore, the cost of the Group&#8217;s cryptocurrency assets can be measured reliably using price information provided by the cryptocurrency price aggregators, which provide evidence of the fair value of the cryptocurrencies, measured with reference to the spot price of fiat currencies on the date when they are earned. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group accounts for the cryptocurrencies as intangible assets with indefinite useful lives in its combined and consolidated statements of financial position because, at the time of assessment, there is no foreseeable limit to the period over which such assets are expected to generate cash flows. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group further adopts the cost model to account for its cryptocurrencies and reviews their useful life and impairment at each reporting date in accordance with IAS 38 </font><font style="font-style:italic;letter-spacing:0.2pt;">Intangible Assets</font><font style="letter-spacing:0.2pt;">. The Group accounts for cryptocurrencies at cost, instead of revaluing cryptocurrencies at their fair value on each accounting reference date, because the latter model is subject to inherent and substantial volatility in the value of cryptocurrencies from time to time. In addition, the Group believes that the cost model better reflects the Group&#8217;s business model, as the Group is not engaged in the cryptocurrency trading business. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group enters into arrangements with counterparties to lend cryptocurrencies on an unsecured basis. Cryptocurrencies lent are not derecognized as the applicable derecognition criteria are not met and such cryptocurrencies continue to be accounted for as intangible assets with an indefinite useful life in accordance with IAS 38. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Gains or losses arising from the disposal of cryptocurrencies are determined as the difference between the net disposal proceeds and the carrying amount of the cryptocurrencies. The Group recognizes realized gains or losses on the date of the disposal using the first-in-first-out method of accounting. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Substantially all of the Group&#8217;s cryptocurrencies are received from its revenue arrangements and the revenue recognized on the acceptance of cryptocurrencies, as a non-cash item, is presented as an adjustment to remove the noncash item for the cash flows from operating activities and the disposals of cryptocurrencies received in revenue arrangements are presented as cash flows from operating activities in the combined and consolidated statements of cash flows. The purchases and disposals of cryptocurrencies associated with investment or lending transactions are presented as investing activities in the combined and consolidated statements of cash flows. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">i.&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Prepaid expenses represent prepayments made for operational purposes, such as prepaid utility fees and property management expenses. Prepaid expenses are amortized over their future beneficial periods using the straight-line method or at a point in time upon the Group&#8217;s receipt of the underlying goods or service. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Other assets generally consisted of deposits paid to various service providers, such as lessors and electricity vendors. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">j.&nbsp;&nbsp;&nbsp;Intangible assets</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Intangible assets acquired by the Group are stated at cost less accumulated amortization (where the estimated useful life is finite) and impairment losses. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Amortization of intangible assets with finite useful lives is charged to profit or loss on a straight-line basis over the assets&#8217; estimated useful life, which is the period over which an asset is expected to be </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-44</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">available for use. The estimates and associated assumptions of useful life determined by the Group are based on technical or commercial obsolescence, legal or contractual limits on the use of the asset, and other relevant factors. The following intangible assets with finite useful lives are amortized from the date they are available for use and their estimated useful lives are as follows: </font>
        </div>
        <table style="width:396pt;margin-left:30pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:360pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8226;</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Software </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:24pt;white-space:nowrap;">
              <font style="letter-spacing:0.2pt;">3&#160;years</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:7pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Both the period and method of amortization are reviewed annually. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Intangible assets are not amortized while their useful lives are assessed to be indefinite. Any conclusion that the useful life of an intangible asset is indefinite is reviewed annually to determine whether events and circumstances continue to support the indefinite useful life assessment for that asset. If they do not, the change in the useful life assessment from indefinite to finite is accounted for prospectively from the date of change and in accordance with the policy for amortization of intangible assets with finite lives as set out above. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">k.&nbsp;&nbsp;&nbsp;Property, plant and equipment</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:7.12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Property, plant and equipment are measured at cost, less accumulated depreciation and impairment losses, if any. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Property, plant and equipment are recorded at purchase cost. Direct labor and other directly attributable costs incurred to construct new assets and upgrade existing assets are capitalized. Repairs and maintenance expenditures are recognized in the combined and consolidated statements of operations and comprehensive income / (loss) as incurred. Significant renewals and betterments are capitalized. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Property, plant and equipment are depreciated using the straight-line method based on the estimated useful lives of the assets as follows: </font>
        </div>
        <table style="width:396pt;height:70pt;margin-left:30pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:240pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8226;</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Buildings </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0.5pt 1pt 0pt; width:144pt;white-space:nowrap;text-align:right;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">20&#160;years</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:240pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8226;</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Land </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 1.5pt 0pt; width:144pt;white-space:nowrap;text-align:right;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">Unlimited</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:240pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8226;</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Machinery </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 1.5pt 0pt; width:144pt;white-space:nowrap;text-align:right;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">3&#8201;&#8211;&#8201;10&#160;years</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:240pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8226;</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Electronic equipment </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 1.5pt 0pt; width:144pt;white-space:nowrap;text-align:right;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">3&#8201;&#8211;&#8201;7&#160;years</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:240pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8226;</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Leasehold improvements </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 1.5pt 0pt; width:144pt;white-space:nowrap;text-align:right;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">3&#160;years</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:6.91pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Land acquired by the Group has an unlimited useful life and therefore is not depreciated. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The depreciation method, useful life and residual value of an asset are reviewed at least at each financial year-end and adjusted, if appropriate. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">When assets are retired or otherwise disposed of, their cost and the related accumulated depreciation are derecognized from the combined and consolidated statements of financial position and the resulting gains or losses on the disposal or sale of the assets are recognized in the combined and consolidated statements of operations and comprehensive income / (loss). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">An asset under construction is stated at cost until the construction is completed, at which time it is reclassified to the property, plant and equipment account to which it relates. During the construction period until the asset is ready for its intended use or sale, borrowing costs, which include interest expense and foreign currency exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest expense, are capitalized in proportion to the average amount of accumulated expenditures during the period. Capitalization of borrowing costs ceases when the construction is completed, and the asset is ready for its intended use or sale. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">l.&nbsp;&nbsp;&nbsp;Mining machines</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:7.11pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Mining machines refer to the electronic equipment designed for the sole purpose of completing complex mathematical functions to verify transactions on the blockchain. Mining machines are stated at cost less </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-45</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">accumulated depreciation and impairment losses, if any. The Group estimated the useful lives of the mining machines to be one to two&#160;years. This estimate is primarily based on the historical measures of (i)&#160;the period when each mining machine is able to deliver expected performance and (ii)&#160;the frequency of technological advancement, which leads to a new generation of mining machines. The Group also estimates the residual value of the mining machines at the expected time of disposal, taking into consideration factors such as make and model. Depreciation is recorded on a straight-line basis over the estimated useful lives. The depreciation method, useful life and residual value of the mining machines are reviewed at least at each financial year-end and adjusted, if appropriate. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group routinely sells used mining machines to customers. The net carrying values of the associated mining machines were reclassified as inventories when the Group identified such mining machines for sale and were recognized as cost of revenue on the combined and consolidated statements of operations and comprehensive income / (loss) upon the sale. See Note 2(p). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">When mining machines are retired, their costs and the related accumulated depreciation are derecognized from the combined and consolidated statements of financial position and the resulting gains or losses on the disposal of the assets are recognized in the combined and consolidated statements of operations and comprehensive income / (loss). </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">m.&nbsp;&nbsp;&nbsp;Leases</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group accounts for leases under IFRS 16 </font><font style="font-style:italic;letter-spacing:0.2pt;">Leases</font><font style="letter-spacing:0.2pt;">. At the inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">At inception or on a reassessment of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease and non-lease component on the basis of their relative stand-alone prices. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">At the lease commencement date, the Group recognizes a right-of-use asset and a lease liability, except for short-term leases that have a lease term of 12&#160;months or less and leases of low-value assets which, for the Group, are primarily vehicles. When the Group enters into a lease in respect of a low-value asset, the Group decides whether to capitalize the lease on a lease-by-lease basis. The lease payments associated with those leases which are not capitalized are recognized as an expense on a systematic basis over the lease term. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Where the lease is capitalized, the lease liability is initially recognized at the present value of the lease payments payable over the lease term, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, using a relevant incremental borrowing rate. After initial recognition, the lease liability is measured at amortized cost and interest expense is calculated using the effective interest method. Variable lease payments linked to the use of an underlying asset are excluded from the measurement of lease liabilities. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The right-of-use asset recognized when a lease is capitalized is initially measured at cost, which comprises the initial amount of the lease liability plus any lease payments made at or before the commencement date, and any initial direct costs incurred. The right-of-use asset is subsequently stated at cost less accumulated depreciation and impairment losses, if any. Right-of-use assets are subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the unexpired term of the lease. The estimated useful lives of right-of-use assets are determined on the same basis as those of property, plant and equipment. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The lease liability is remeasured when there is a change in future lease payments arising from a change in an index or rate, or there is a change in the Group&#8217;s estimate of the amount expected to be payable under a residual value guarantee, or there is a change arising from the reassessment of whether the Group will be reasonably certain to exercise a purchase, extension or termination option. When the lease liability is </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-46</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">n.&nbsp;&nbsp;&nbsp;Trade payables and other payables and accruals</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Trade payables are obligations to pay for goods and/or services that have been acquired from suppliers in the ordinary course of business. Other payables and accruals primarily represent obligations to pay staff costs, surtaxes and value-added tax, and other operating service providers. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Trade payables and other payables and accruals are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">o.&nbsp;&nbsp;&nbsp;Share-based payments</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Employees (including senior executives and members of the board of directors) and certain service providers of the Company receive remuneration in the form of share-based payment transactions, whereby they render services as consideration for equity instruments (&#8220;equity-settled transactions&#8221;). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The cost of equity-settled transactions is measured by reference to the fair value at the date on which they are granted. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The cost of equity-settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the beneficiary becomes fully entitled to the equity-settled transactions (the &#8220;vesting date&#8221;). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company&#8217;s best estimate of the number of equity-settled transactions that will ultimately vest which includes assumptions on the number of equity-settled transactions to be forfeited due to the grantees&#8217; failing to fulfill the service condition, and forfeitures following the non-completion of performance conditions. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">p.&nbsp;&nbsp;&nbsp;Revenue recognition</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s principal sources of revenue are recognized as follows: </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Cloud Hash Rate</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>

          <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The Group enters into Cloud Hash Rate arrangements with its customers by offering hash rate subscription plans to provide computing power in a specified quantity, measured by computing power per second, or hash rate, derived from the mining machines held by the Group, for a period of time. The Group offers a number of different plans by plan duration cycle and type of cryptocurrency to be mined. By subscribing to the hash rate subscription plan, the customers are able to direct the computing power provided by the Group to be connected to a customer-designated mining pool for a period of time. As a result of directing the connection of such computing power to the mining pools, the customers are entitled to the mining rewards, which are directly transferred from mining pools to the customer-designated cryptocurrency wallets. </font>
          </div>

        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The customer pays a fixed amount for the subscribed hash rate at the commencement of the plan. The revenue related particularly to the hash rate subscription is amortized ratably throughout the duration of the plan. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The customer also needs to pay for electricity subscriptions, which are separately sold, to maintain the mining machines that produce the subscribed hash rate. The Group offers electricity subscriptions in short durations and a customer needs to purchase electricity subscriptions multiple times to cover the duration of the hash rate subscription plan. The revenue related particularly to the electricity </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-47</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">subscriptions is recognized ratably throughout the duration of each respective subscription. The price of electricity subscription is fixed at the commencement of each electricity subscription. </font>
        </div>

          <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The hash rate subscription plans are offered under two modes. Under the classic mode, the customer receives all of the mining rewards from the mining pool. Under the accelerator mode, the customer pays a relatively lower computing power subscription fee. In exchange, the Group is entitled to additional consideration once the customer&#8217;s cost is recovered. The additional consideration is determined as a percentage of a customer&#8217;s mining profit derived from the subscribed computing power. </font>
          </div>

        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group accepts both cryptocurrency and fiat currency as payments under the Cloud Hash Rate arrangements. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Proprietary Mining</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>

          <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The Group enters into contracts with mining pool operators to provide computing power generated from the Group&#8217;s own mining machines to the mining pools. The contracts with mining pool operators are terminable at any time by either party. In exchange for providing computing power to the mining pool, the Group is entitled to a fractional share of the cryptocurrency reward the mining pool operator receives from the blockchain network, which is calculated based on a predetermined formula agreed by the Group and the mining pool operator as a part of the arrangement. The cryptocurrency rewards the mining pool operators receive include both the block rewards and the transaction verification fees. Providing computing power is an output of the Group&#8217;s ordinary activities and the only performance obligation in the Group&#8217;s contracts with mining pool operators. The transaction consideration the Group receives is an aggregate amount and primarily includes the block rewards. As a result, the Group does not present disaggregated revenue information on block rewards and transaction verification fees. </font>
          </div>

        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Cloud Hosting</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group provides its customers one-stop mining machines hosting solution which integrates the provision of computing power generated from specified second-hand mining machines and the provision of maintenance service, primarily including electricity supply and daily maintenance and repair care. The Group historically only accepts cryptocurrency as payments for services under the Cloud Hosting arrangement. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group charges the customer an upfront amount at the commencement of the Cloud Hosting arrangement for the customer to secure the procurement of the computing power from the specified mining machines and the corresponding revenue is recognized ratably over the term of the service, which approximates to the life of the specified mining machines and is estimated to be two years. The estimated life of these mining machines is reviewed at least at each financial year-end and adjusted if the expectation of the realization of economic benefits from the specified mining machines is different from the previous estimate. </font>
        </div>

          <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The Group also charges a fee for the provision of maintenance service based on the consumption of resources such as electricity throughout the duration of the service, of which the revenue is recognized across each service cycle. </font>
          </div>


          <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The Cloud Hosting arrangements are offered under two modes. Under the classic mode, the customer receives all of the mining rewards from the mining pool. Under the accelerator mode, the customer is charged with a lower upfront amount and enjoys a quicker recovery of the costs. In exchange, the Group is entitled to additional consideration once a customer&#8217;s cost is recovered. The additional consideration is determined as a percentage of a customer&#8217;s mining profit derived from the computing power of the specified mining machines. No revenue was generated from the additional consideration from Cloud Hosting arrangements offered under the accelerator mode for all the periods presented. </font>
          </div>

      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-48</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Sale of Mining Machines</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Group recognizes revenue from sales of mining machines to customers at the point in time when control of the mining machines is transferred to the customer, which generally occurs upon shipment of the mining machines as defined in the revenue contract. The Group accepts both cryptocurrency and fiat currency as payments for sales of mining machines. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">General Hosting</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Group provides hosting services that enable customers to run blockchain computing operations. The Group&#8217;s performance obligation related to the general hosting service is satisfied over time. The service fee is charged to the customer monthly based on the customer&#8217;s consumption of resources, such as the amount of electricity used in a period. Revenue from the general hosting service is recognized across each service cycle. The Group accepts both cryptocurrency and fiat currency as payments for the provision of custody and maintenance services. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Revenue is recognized when control over goods or services is transferred to the customer, at the amount of promised consideration to which the Group is expected to be entitled. Revenue excludes value-added tax (&#8220;VAT&#8221;) or other sales taxes and is after deduction of trade discount, if any. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Revenue is recognized applying the following five steps: </font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">i)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Identify the contract with a customer; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">ii)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Identify the performance obligations in the contract; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:9.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iii)</font>
          <br >
        </div>
        <div style=" margin-top:9.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Determine the transaction price; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iv)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Allocate the transaction price to the performance obligations in the contract; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">v)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Recognize revenue when (or as) the Group satisfies a performance obligation. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">For arrangements priced at fiat currency, the Group recognizes revenue based on the contract price. For arrangement priced at cryptocurrency, the Group recognizes revenue based on the spot price of the cryptocurrency to fiat currency on the date when it is earned. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Group allocates total consideration to each distinct performance obligation that has been included in a contract based on its stand-alone selling price. The stand-alone selling price is determined according to the observable prices at which individual services are sold separately, adjusted for market conditions and normal discounts as appropriate. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">When another party is involved in providing services to a customer, the Group is the principal if it controls the specified services before those services are transferred to the customer. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Certain revenue arrangements of the Group contain variable considerations. For the Cloud Hash Rate and Cloud Hosting businesses, the additional consideration from the arrangements under accelerator mode is variable depending on the mining profit derived from the customer&#8217;s computing power, and the Group is not able to measure the amount of payment to be received until the Group is paid. For the Proprietary Mining business, the amount of transaction consideration from providing the computing power is variable. The Group includes these variable considerations in the transaction price of such contracts only when it is highly probable that a significant reversal in the amount of the cumulative revenue recognized will not occur. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-49</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group derives revenues in the following major categories: </font>
        </div>
        <table style="width:416pt;height:193.5pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:297.01pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Proprietary mining </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">37,471</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">88,493</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">191,693</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Cloud hash rate </font>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Hash rate subscription </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">18,678</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">31,389</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">53,952</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Electricity subscription </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">24,821</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">45,242</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">35,113</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:297.01pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Additional consideration from Cloud Hash Rate arrangements offered under accelerator mode </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,657</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">35,140</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Sales of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">7,507</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">15,844</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">45,693</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cloud hosting arrangements </font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2,929</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">7,568</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">General hosting </font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">18,312</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">294</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">833</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">7,190</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:297.01pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total revenues</font>
              </div>
            </td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">88,771</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">186,387</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt; width:3pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">394,661</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.7pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8.99pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8.99pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Others include revenue generated primarily from providing management services and the sale of mining machine peripherals. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:5pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:5pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Group did not generate any revenue from the additional consideration from Cloud Hosting arrangements offered under accelerator mode for the years ended December 31, 2020 and 2021. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For the&#160;years ended December&#160;31, 2019, 2020, and 2021, the Group generates 78.73%, 51.47% and 1.49% of Proprietary Mining business revenue from Bitmain under the brand of AntPool, representing 33.23%, 24.44% and 0.72% of total revenue respectively, and 12.64%, 48.04% and 91.99% of Proprietary Mining business revenue from BTC, representing 5.34%, 22.81% and 44.68% of total revenue respectively. The Group did not have any other customer that accounts for 10% or more of total revenue in the&#160;years ended December&#160;31, 2019, 2020 and 2021. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Contract assets and liabilities</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A contract asset is recognized when the Group recognizes revenue before being unconditionally entitled to the consideration under the payment terms set out in the contract. Contract assets are assessed for expected credit losses and are reclassified to receivables when the right to the consideration has become unconditional. As of December&#160;31, 2020 and 2021, the Group did not have any contract assets. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A contract liability is recognized when the customer pays consideration for goods or services before the Group recognizes the related revenue. A contract liability would also be recognized if the Group has an unconditional right to receive non-refundable consideration before the Group recognizes the related revenue. In such cases, a corresponding receivable would also be recognized. As of December&#160;31, 2020 and 2021, the Group had contract liabilities, presented as deferred revenue on the combined and consolidated statements of financial position, of approximately US$11.6&#160;million and US$213.4&#160;million. Approximately US$0.2&#160;million, US$10.3&#160;million and US$11.1&#160;million, included in the deferred revenue balance at January&#160;1, 2019, 2020 and 2021, respectively, was recognized as revenue during the&#160;years ended December&#160;31, 2019, 2020 and 2021. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">q.&nbsp;&nbsp;&nbsp;Cost of revenue</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cost of revenue consists primarily of electricity expenses incurred for operating the Group&#8217;s mining machines in its revenue-generating activities, depreciation expense from the mining machines and </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-50</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">datacenters hosting those mining machines, costs of mining machines sold to customers, and compensation expenses incurred by mining datacenter personnel. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">r.&nbsp;&nbsp;&nbsp;Taxes</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Income tax</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Current and deferred income taxes are recognized as income or expense and included in the combined and consolidated statements of operations and comprehensive income / (loss), except to the extent that the income tax relates to items recognized in comprehensive income / (loss) or directly in equity, in which case the relevant amounts of tax are recognized in comprehensive income / (loss) or directly in equity, respectively. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Current income tax assets and liabilities are measured at the amounts expected to be recovered or paid by using the tax rates and tax laws that have been enacted or substantively enacted at each reporting date. Management periodically evaluates positions taken in the tax reporting process with respect to situations in which applicable tax regulation is subject to interpretation. Where appropriate, management establishes provisions based on the amounts expected to be paid to the tax authorities. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Deferred tax</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Deferred tax assets and liabilities arise from deductible and taxable temporary differences respectively, being the differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. Deferred tax assets also arise from unused tax losses and unused tax credits. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Apart from the temporary differences arising from goodwill not deductible for tax purposes, all deferred tax liabilities, and all deferred tax assets to the extent that it is probable that future taxable profits will be available against which the asset can be utilized, are recognized. Deferred tax assets and liabilities are measured using enacted or substantively enacted tax rates and tax laws at each reporting date which are expected to apply to taxable income in the&#160;years in which those temporary differences are expected to be recovered or settled. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The carrying amount of deferred tax assets is reviewed at each reporting date and reduced if it is no longer probable that sufficient taxable profit will be available to compensate part or all of the benefits of deferred tax assets. Unrecognized deferred tax assets are re-assessed at each reporting date and recognized if it is probable that future taxable profits will be available for recovery. Tax deductions arising from the reversal of deferred tax assets are excluded from estimates of future taxable income. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Deferred taxes on transactions which are recognized outside profit or loss are recognized outside profit or loss. Therefore, deferred taxes on these transactions are recognized either in comprehensive income / (loss) or recognized directly in equity. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Deferred tax assets and liabilities are offset in the combined and consolidated statements of financial position, if and only if it has a legally enforceable right to set off current tax assets and liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same Tax Authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax assets or liabilities are expected to be recovered or settled. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Uncertainty over income tax treatments</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group determines the recognition and measurement of tax assets and liabilities that contain uncertainty over income tax by considering the assumptions used in the examination of tax treatments by the tax authorities, the probability that the tax authorities will accept uncertain tax treatment and re-consideration or estimation if there is a change in facts and circumstances. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-51</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If the acceptance of tax treatment is probable, the measurement is in line with income tax fillings. If the acceptance of tax treatment is not probable, the Group uses tax amounts using the method that provides a better prediction of resolution (i.e., most likely amount or expected value). Due to the complexity of some of these uncertainties, their ultimate resolution may result in payments that are materially different from current estimates. Any such differences will be reflected as adjustments to income tax expenses in the periods in which they are determined. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">s.&nbsp;&nbsp;&nbsp;Financial instruments</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group adopted IFRS 9 </font><font style="font-style:italic;letter-spacing:0.2pt;">Financial Instruments</font><font style="letter-spacing:0.2pt;"> in the accounting of financial instruments and classifies and measures its financial instruments at amortized cost. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s financial assets are carried at amortized cost using the effective interest method less provision for impairment. Gains and losses arising from the disposal, being the differences between the net sales proceeds and the carrying values, are recognized in the statements of operations and comprehensive income / (loss). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Financial assets are derecognized when the rights to receive cash flows from the assets have expired or the Group has transferred substantially all the risks and rewards of ownership of the assets. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s financial liabilities are classified and measured at amortized cost using the effective interest method. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Financial liabilities are derecognized when, and only when, the Group&#8217;s obligations are discharged, canceled or expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Financial assets and financial liabilities are offset, and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Convertible debt</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As disclosed in Note 11, in 2021, the Group issued a convertible debt that can be converted into ordinary shares of the Group at the option of the holder. The number of shares to be issued is fixed and does not vary with changes in fair value. The Group accounts for the components of this compound financial instrument separately as a financial liability and an equity instrument. The liability component of the convertible debt is initially recognized at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognized at the difference between the fair value of the convertible debt as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of the convertible debt is measured at amortized cost using the effective interest method. The equity component is not remeasured. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Interest related to the financial liability is recognized in profit or loss. Upon conversion, the financial liability is reclassified to equity and no gain or loss will be recognized. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">t.&nbsp;&nbsp;&nbsp;Credit losses and impairment of assets</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:11.02pt; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">(i)&nbsp;&nbsp;&nbsp;Credit losses from financial instruments</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group recognizes a loss allowance for expected credit losses (&#8220;ECL&#8221;) on financial assets, such as cash and cash equivalents, restricted cash and trade receivable, which are measured at amortized cost; </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Measurement of ECLs</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all expected cash shortfalls (i.e., the difference between the cash flows due to the Group in accordance </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-52</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">with the contract and the cash flows that the Group expects to receive). The expected cash shortfalls are discounted using the following discount rates where the effect of discounting is material: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">fixed-rate financial assets, trade and other receivables: effective interest rate determined at initial recognition or an approximation thereof; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">variable-rate financial assets: current effective interest rate. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In measuring ECLs, the Group takes into account reasonable and supportable information that is available without undue cost or effort. This includes information about past events, current conditions and forecasts of future economic conditions. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ECLs are measured on either of the following bases: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">12-month ECLs: these are losses that are expected to result from possible default events within the 12&#160;months after the reporting date; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">lifetime ECLs: these are losses that are expected to result from all possible default events over the expected lives of the items to which the ECL model applies. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Loss allowances for trade receivables are always measured at an amount equal to lifetime ECLs. ECL on this type of financial asset is estimated using a provision matrix based on the Group&#8217;s historical credit loss experience, adjusted for factors that are specific to the debtors and an assessment of both the current and forecast general economic conditions at the reporting date. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For all other financial instruments, the Group recognizes a loss allowance equal to 12-month ECLs unless there has been a significant increase in the credit risk of the financial instrument since initial recognition, in which case the loss allowance is measured at an amount equal to lifetime ECLs. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Significant increases in credit risk</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition, the Group compares the risk of a default occurring on the financial instrument assessed at the reporting date with that assessed at the date of initial recognition. In making this reassessment, the Group considers that a default event occurs when the borrower is unlikely to pay its credit obligations to the Group in full and without recourse. The Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In particular, the following information is taken into account when assessing whether credit risk has increased significantly since initial recognition: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">failure to make payments of principal or interest on their contractually due dates; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">an actual or expected significant deterioration in a financial instrument&#8217;s external or internal credit rating (if available); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">an actual or expected significant deterioration in the operating results of the debtor; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">existing or forecast changes in the technological, market, economic or legal environment that have a significant adverse effect on the debtor&#8217;s ability to meet its obligation to the Group. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Depending on the nature of the financial instruments, the assessment of a significant increase in credit risk is performed on either an individual basis or a collective basis. When the assessment is performed on a collective basis, the financial instruments are grouped based on shared credit risk characteristics, such as past-due status and credit risk ratings. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-53</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ECLs are remeasured at each reporting date to reflect changes in the financial instrument&#8217;s credit risk since initial recognition. Any change in the ECL amount is recognized as an impairment gain or loss in profit or loss. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group recognizes an impairment gain or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Impairment and write-off policy</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">At each reporting date, the Group assesses whether a financial asset is credit-impaired. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Evidence that a financial asset is credit-impaired includes the following observable events: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">significant financial difficulties of the debtor; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a breach of contract, such as a default or delinquency in interest or principal payments; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">is becoming probable that the borrower will enter into bankruptcy or other financial reorganization; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">significant changes in the technological, market, economic or legal environment that have an adverse effect on the debtor; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the disappearance of an active market for a security because of financial difficulties of the issuer. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Subsequent recoveries of an asset that was previously written off are recognized as a reversal of impairment in profit or loss in the period in which the recovery occurs. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">(ii) Impairment of other assets</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Internal and external sources of information are reviewed at the end of each reporting period to identify indications that the following assets may be impaired or, an impairment loss previously recognized no longer exists or may have decreased: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">property, plant and equipment; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">lease right-of-use assets; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">intangible assets; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">cryptocurrencies. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If any such indication exists, the asset&#8217;s recoverable amount is estimated. In addition, for cryptocurrencies, the recoverable amount is estimated at each reporting date whether or not there is any indication of impairment. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Calculation of recoverable amount </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The recoverable amount of an asset is the greater of its fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Where an asset does not generate cash inflows largely independent of those from other assets, the recoverable amount is determined for the smallest group of assets that generates cash inflows independently (i.e., a cash-generating unit). </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-54</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The recoverable amount of cryptocurrencies is based on the fair value less costs of disposal. The fair value of the cryptocurrencies is determined by using the quoted price on the cryptocurrency price aggregator websites well recognized by the blockchain users. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Recognition of impairment losses </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">An impairment loss is recognized in profit or loss if the carrying amount of an asset, or the cash-generating unit to which it belongs, exceeds its recoverable amount. Impairment losses recognized in respect of cash-generating&#160;units are allocated first to reduce the carrying amount of any goodwill (if any) allocated to the cash-generating unit (or group of&#160;units) and then, to reduce the carrying amount of the other assets in the unit (or group of&#160;units) on a pro-rata basis, except that the carrying value of an asset will not be reduced below its individual fair value less costs of disposal (if measurable) or value in use (if determinable). </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Reversals of impairment losses </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">An impairment loss is reversed if there has been a favorable change in the estimates used to determine the recoverable amount. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A reversal of an impairment loss is limited to the asset&#8217;s carrying amount that would have been determined had no impairment loss been recognized in prior&#160;years. Reversals of impairment losses are credited to profit or loss in the year in which the reversals are recognized. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">u.&nbsp;&nbsp;&nbsp;Provisions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The timing or amount of the outflow may still be uncertain. Provisions are measured using the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, taking into account risks and uncertainties associated with the obligation. Provisions are discounted where the time value of money is considered material. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">v.&nbsp;&nbsp;&nbsp;Segment information</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Operating segments are identified on the basis of internal reports about components of the Group that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segments and to assess their performances. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">An operating segment is a component of an entity: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to the transactions with other components of the same entity); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whose operating results are reviewed regularly by the entity&#8217;s chief operating decision maker to make decisions about resources to be allocated to the segments and assess its performance; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">for which discrete financial information is available. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The chief operating decision maker makes resource allocation decisions based on internal management functions and assesses the Group&#8217;s business performance as one integrated business instead of by separate business lines or geographical regions. Accordingly, the Group has only one operating segment and therefore, no segment information is presented. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Disaggregated revenue data by geographical region in terms of the customer&#8217;s location within the operating segment is as follows: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-55</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:416pt;height:121.5pt;margin-left:20pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:279.01pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Singapore </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">34,499</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">90,808</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">79,537</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Asia, excluding Singapore </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">36,504</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">57,146</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">211,805</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">North America </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">9,468</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">24,063</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">75,559</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Europe </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,377</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">7,755</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">15,487</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">1,923</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">6,615</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">12,273</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:279.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">88,771</td>
            <td style="padding:0pt;padding-left:3.215pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">186,387</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">394,661</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:12.4pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Selected assets of mining machines, property plant and equipment, right-of-use assets and intangible assets by geographical region within the operating segment is as follows: </font>
        </div>
        <table style="width:416pt;height:97.5pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:326.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:326.59pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:326.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Singapore </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">914</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">7,481</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:326.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">North America </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">99,812</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">181,864</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:326.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Europe </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">20,578</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">18,797</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:326.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Asia, excluding Singapore </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">13,898</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:326.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">135,202</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">208,142</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:16.11pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">w.&nbsp;&nbsp;&nbsp;Earnings per share</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Basic earnings per share is computed by dividing the income attributable to equity shareholders of the Group by the weighted average number of ordinary shares outstanding during the period. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Diluted earnings per share is computed by dividing the income attributable to equity shareholders of the Group by the weighted average number of ordinary shares outstanding during the period, after adjusting for the effects of the dilutive potential ordinary shares. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">When calculating basic loss per share for the&#160;years ended December&#160;31, 2019 and 2020, the denominator for the period prior to the Reorganization included the number of shares issued in the Reorganization, as if the Reorganization occurred prior to or as of January&#160;1, 2019. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">x.&nbsp;&nbsp;&nbsp;Initial application of new or amended standards during the reporting periods</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As from January&#160;1, 2021, the Group adopted the following recently issued or amended standards. These new standards are not expected to have any significant impact on the Group&#8217;s financial statements: </font>
        </div>
        <table style="width:416pt;height:80.5pt;margin-left:20pt;margin-top:10.0000000000001pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:259.7pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Standard/Interpretation </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:66.15pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Application</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Date of</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Standard </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:66.15pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Application</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Date for the</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Group </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:259.7pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and </font>
                <br >
                <font style="letter-spacing:0.2pt;">IFRS 16, Interest Rate Benchmark Reform&#8201;&#8211;&#8201;Phase&#160;2 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:66.15pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:259.7pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendment to IFRS 16, Covid-19-Related Rent Concessions beyond June&#160;30, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:66.15pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:66.15pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;1, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:11.01pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">y.&nbsp;&nbsp;&nbsp;New standards and interpretations not yet adopted</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Up to the date of issue of these financial statements, the IASB has issued a number of amendments and a new standard, IFRS 17, Insurance contracts, which are not yet effective for the year ended December&#160;31, 2021 and which have not been adopted in these financial statements. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-56</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:436pt;height:266.5pt;margin-left:20pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:352pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Standard/Interpretation </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:72pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Application</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Date for the</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Group </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Amendments to IFRS 1, Subsidiary as a First-time Adopter </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Amendments to IFRS 9, Derecognition of Financial Liabilities </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Amendments to IFRS 3, Reference to the Conceptual Framework </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:352pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 16, Property, Plant and Equipment: Proceeds before </font>
                <br >
                <font style="letter-spacing:0.2pt;">Intended Use </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Amendments to IAS 37, Onerous Contracts&#8201;&#8211;&#8201;Cost of Fulfilling a Contract </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:352pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">IFRS 17, Insurance Contracts and Amendments to Address Concerns and Implementation Challenges </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2023 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:normal;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:352pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 1, Classification of Liabilities as Current or Non-current and Disclosure of Accounting Policies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2023 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Amendments to IAS 1, Making Materiality Judgment </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2023 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:normal;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:352pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 1 and IFRS Practice Statement 2, Disclosure of Accounting Policies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2023 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Amendments to IAS 8, Definition of Accounting Estimates </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2023 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:normal;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:352pt;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Amendments to IAS 12, Deferred Tax related to Assets and Liabilities arising from a Single Transaction </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January&#160;1, 2023 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:352pt;">
              <font style="letter-spacing:0.2pt;">Initial Application of IFRS 17 and IFRS 9&#8201;&#8211;&#8201;Comparative Information </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:72pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">January 1, 2023</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <font style="letter-spacing:0.2pt;">The Group is in the process of making an assessment of what the impact of these new and amended standards and interpretations would be in the period of initial application. So far, the Group has concluded that the adoption of these standards and interpretations is unlikely to have a significant impact on the Group&#8217;s financial position. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">3.&nbsp;&nbsp;&nbsp;USE OF JUDGMENTS AND ESTIMATES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Estimates and judgments are continuously evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Group makes estimates and assumptions concerning the future. The resulting accounting estimates may not be equal to the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Depreciation of mining machines</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Depreciation on the Group&#8217;s mining machines is calculated using the straight-line method to allocate costs up to residual values over the estimated useful lives of the assets. The Group reviews the useful lives and residual values at least at each financial year-end and adjusted, if appropriate, to ensure that the method and rates of depreciation are consistent with the expected pattern of realization of economic benefits from mining machines. The Group estimates the useful lives of mining machines based on historical experience, taking into account anticipated technological changes. If there are significant changes from previously estimated useful lives, the amount of depreciation expenses may change. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The useful life of mining machines is changed from one year to one to two&#160;years as a result of the review conducted in July&#160;2021. The impact of the change in useful life is an increase in the profit before income tax in 2021 for an amount of approximately US$12&#160;million. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-57</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Cryptocurrency accounting</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The cryptocurrency market is still a new market and is highly volatile; historical prices are not necessarily indicative of future value; a significant change in the market prices for cryptocurrencies would have a significant impact on the Group&#8217;s earnings and financial position. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If circumstances indicate that the carrying amount of cryptocurrencies may not be recoverable, the assets may be considered &#8220;impaired&#8221;, and an impairment loss may be recognized in accordance with the accounting policy for impairment of cryptocurrencies as described in Note 2(t). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">When such a decline has occurred, the carrying amount is reduced to the recoverable amount. The recoverable amount is based on the fair value less costs of disposal. The fair value of the cryptocurrencies is determined by taking the daily price from price aggregator websites, which the Group considers to be a Level&#160;2 fair value input under IFRS 13 </font><font style="font-style:italic;letter-spacing:0.2pt;">Fair Value Measurement</font><font style="letter-spacing:0.2pt;"> fair value hierarchy. Changes in these estimates could have a significant impact on the recoverable amount of the assets and could result in additional impairment charges or reversal of impairment in future periods. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Revenue from the proprietary mining business</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">There is currently no specific definitive guidance in IFRS or alternative accounting frameworks for the accounting for the revenue from the proprietary mining business. The Group&#8217;s management has exercised significant judgment in determining appropriate accounting treatment for the recognition of revenue from the proprietary mining business. Management has examined various factors surrounding the substance of the Group&#8217;s operations, such as the reliability of the measurement of the cryptocurrencies received. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Income taxes</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Income tax expense, deferred tax assets and liabilities, and reserves for uncertain tax positions reflect management&#8217;s best assessment of estimated future taxes to be paid. The Group is subject to income taxes in Singapore and numerous other jurisdictions. Significant judgments and estimates are required in determining the income tax expense. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In determining the current income tax provision, management assesses temporary differences resulting from differing treatments of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are recorded in the combined and consolidated statements of financial position. When management assesses deductible temporary differences, including those originating from tax losses carried forward, management must assess the probability that these will be recovered through adjustments to future taxable income. To the extent the management believes recovery is not probable, no deferred tax asset is recognized. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Forecasting future income requires the use of a significant amount of judgment. In estimating future income, management uses internal operating budgets and long-range planning projections. Management develops its budgets and long-range projections based on recent results, trends and economic and industry forecasts influencing the Group&#8217;s performance. Significant changes in management&#8217;s judgment related to the expected realizability of deductible temporary differences result in an adjustment to the associated deferred tax asset. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The calculation of income tax expense involves dealing with uncertainties in the application of complex tax laws and regulations in numerous jurisdictions in which the Group operates. Management recognizes tax benefits related to uncertain tax positions when, in management&#8217;s judgment, it is more likely than not that such positions will be sustained on examination, including resolutions of any related appeals or litigation, based on the technical merits. Management adjusts liabilities for uncertain tax positions when its judgment changes as a result of new information previously unavailable. Due to the complexity of some of these uncertainties, their ultimate resolution may result in payments that are materially different from current estimates. Any such differences will be reflected as adjustments to income tax expenses in the periods in which they are determined. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-58</font>
          <br >
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      </div>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Share-based payments</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The determination of the fair value of the Group&#8217;s ordinary shares and the share awards granted under the 2021 Share Incentive Plan involves significant judgment and estimates. The Group determined the fair value of the share awards using the Binomial option valuation model. Estimates such as stock price, volatility of the Group&#8217;s ordinary shares, risk-free interest rate, exercise multiple and the expected dividend yield were used in the valuation model. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group determined the fair value of the Group&#8217;s ordinary shares, or the stock price, used in the determination of the fair value of the share awards, using the discounted cash flow model. Estimates such as the Group&#8217;s stage of development, financial condition and operating results, general market conditions and the lack of marketability of the Group&#8217;s ordinary shares were used in the valuation model. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The fair value of the Group&#8217;s ordinary shares and the share awards were determined by the Group with the assistance of an independent third-party valuation firm. </font>
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        <div style="margin-top:5pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">4.&nbsp;&nbsp;&nbsp;FINANCIAL RISK MANAGEMENT AND FAIR VALUES OF FINANCIAL INSTRUMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Financial risk factors</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group is exposed to various market risks including cryptocurrency risk, interest rate risk, investment risk and foreign currency risk, as well as credit risk and liquidity risk. The Group has designed and implemented various risk management strategies, discussed further below, to ensure the exposure to these risks is consistent with its risk tolerance and business objectives. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">a.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Market risk </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">i.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrency risk </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:60pt; margin-top:8pt; text-align:justify; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group is exposed to cryptocurrency risk as it yields cryptocurrencies from certain revenue arrangements. The Group recognizes revenue based on the spot fair value of cryptocurrencies on the day they are earned, but the value of the cryptocurrencies is subject to change on the date they are disposed of for fiat currency. </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; text-align:justify; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrency prices are affected by various forces including global supply and demand, interest rates, exchange rates, inflation or deflation and the global political and economic conditions. The profitability of the Group is highly correlated to the current and future market price of cryptocurrencies; in addition, the Group may not be able to liquidate its holdings of cryptocurrencies at its desired price if required. A decline in the market prices for cryptocurrencies could negatively impact the Group&#8217;s future operations. </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; text-align:justify; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrencies have a limited history, and the fair value of cryptocurrencies has been very volatile. The historical performance of cryptocurrencies is not indicative of their future price performance. The Group&#8217;s cryptocurrencies currently primarily consist of bitcoin. The Group currently does not use any derivative contracts to hedge its exposure to cryptocurrency risk, but management closely monitors the impact of the mainstream cryptocurrency exchange market on the change of exchange rates from cryptocurrency to fiat currency. The Group limits its exposure to the cryptocurrency risk by including in its operation strategy to dispose of the cryptocurrencies for fiat currency shortly after they are earned. </font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">ii.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Interest rate risk </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:60pt; margin-top:8pt; text-align:justify; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s interest rate risk is primarily attributable to bank deposits, restricted cash and borrowings. Bank deposits, restricted cash and borrowings at variable rates and fixed rates expose the Group to cash flow interest rate risk and fair value interest rate risk respectively. Management closely monitors the fluctuation of such rates periodically. </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-59</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:10pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iii.</font>
          <br >
        </div>
        <div style=" margin-top:10pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Investment risk</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:60pt; margin-top:8pt; text-align:justify; width:396pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group is exposed to investment risk from investment transactions such as the purchase of cryptocurrency-denoted wealth management products. These products are not principal-guaranteed, and the Group may suffer material loss from such investments. The Group monitors its investments closely and limits its exposure to the investment risk by including in its operation strategy the requirements to invest only in robust wealth management products and the investments need to be redeemed within the same fiscal quarter. </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iv.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">Foreign currency risk </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:60pt; margin-top:8pt; text-align:justify; width:396pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group is exposed to foreign currency risk as it conducts transactions which give rise to payables and cash balances that are denominated in foreign currencies and the fair value or future cash flows of the Group&#8217;s financial instrument may fluctuate due to movement in foreign exchange rates of these foreign currencies. The volatility of exchange rates depends on many factors that the Group is not able to accurately forecast. Management is closely monitoring the Group&#8217;s exposure to currency risk and seeks to minimize its exposure to such risk. The Group was not exposed to material foreign currency risk during the&#160;years ended December&#160;31, 2019, 2020 and 2021. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">b.</font>
          <br >
        </div>
        <div style=" margin-top:4.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Credit risk </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group. Credit risk arises mainly from cash deposited in the banks and cryptocurrencies held in custody. </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">To manage risk arising from cash, cash equivalents and restricted cash, the Group only transacts with reputable financial institutions. There has been no recent history of default in relation to these financial institutions. </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For the&#160;years ended December&#160;31, 2019, 2020 and 2021, substantially all of the Group&#8217;s cryptocurrencies are stored in wallets held in the custody of Matrix Finance and Technologies Holding Company (&#8220;Matrixport Group&#8221;), a related party. To limit exposure to credit risk relating to cryptocurrencies under custody, the Group evaluates the system security design of the custody service provider and regularly reviews the exposure of cryptocurrencies held in custody. The Group has further implemented internal controls to ensure the appropriate access to the cryptocurrencies under custody and adopted the operating strategy of disposing of the cryptocurrency for fiat currency shortly after they are earned. The Group expects that there is no significant credit risk from non-performance by Matrixport Group. </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">However, bitcoin and other blockchain-based cryptocurrencies have been, and may in the future be, subject to security breaches, cyberattacks, or other malicious activities. A successful security breach or cyberattack could result in a partial or total loss of the Group&#8217;s cryptocurrencies and such a loss could have a material adverse effect on the Group&#8217;s financial condition and results of operations. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">c.</font>
          <br >
        </div>
        <div style=" margin-top:4.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Liquidity risk </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Liquidity risk arises in situations where the Group has difficulties in fulfilling financial liabilities when they become due. </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Prudent liquidity risk management implies maintaining sufficient cash in order to meet the Group&#8217;s financial obligations. The Group manages its liquidity risk by monitoring cash flow generated from operations and available borrowing capacity, and by managing the maturity profiles of its long-term loans. </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following is the maturity profile of the Group&#8217;s financial liabilities based on contractual undiscounted payments: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-60</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Capital risk management</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:139.5pt;margin-top:7pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:151.89pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="34">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:36.33pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Within 1 </font>
                <br >
                <font style="letter-spacing:-0.16pt;">year or </font>
                <br >
                <font style="letter-spacing:-0.16pt;">on-demand </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:34.99pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">More than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">1 year but </font>
                <br >
                <font style="letter-spacing:-0.16pt;">less than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2&#160;years </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:36.17pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">More than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2&#160;years but </font>
                <br >
                <font style="letter-spacing:-0.16pt;">less than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">5&#160;years </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:34.99pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">More than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">5&#160;years </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:32.71pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:56.91pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Carrying amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">at December&#160;31 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trade payables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,062</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,062</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,062</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other payables and accruals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">6,953</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">6,953</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">6,953</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amounts due to related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">662,948</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">662,948</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">662,948</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Borrowings </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">5,771</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">5,530</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">12,407</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">23,708</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">21,950</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.75pt 0pt; width:151.89pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">678,734</td>
            <td style="padding:0pt;padding-left:1.81pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">6,407</td>
            <td style="padding:0pt;padding-left:6.14pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">12,407</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">697,548</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">695,790</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:139.5pt;margin-top:15pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:151.89pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="34">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:36.33pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Within 1 </font>
                <br >
                <font style="letter-spacing:-0.16pt;">year or </font>
                <br >
                <font style="letter-spacing:-0.16pt;">on-demand </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:34.99pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">More than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">1 year but </font>
                <br >
                <font style="letter-spacing:-0.16pt;">less than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2&#160;years </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:36.17pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">More than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">2&#160;years but </font>
                <br >
                <font style="letter-spacing:-0.16pt;">less than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">5&#160;years </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:34.99pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">More than </font>
                <br >
                <font style="letter-spacing:-0.16pt;">5&#160;years </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:32.71pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:56.91pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Carrying amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">at December&#160;31 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Trade payables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">17,740</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Other payables and accruals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">17,258</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">17,258</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">17,258</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Amounts due to related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Borrowings </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:151.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">5,489</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">5,516</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">16,275</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">53,254</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">80,534</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">62,968</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.75pt 0pt; width:151.89pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">40,506</td>
            <td style="padding:0pt;padding-left:4.31pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">34,976</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">16,275</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">53,254</td>
            <td style="padding:0pt;padding-left:3.64pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">145,011</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">127,445</td>
            <td style="padding:0pt;padding-left:12.1pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:12.9pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s objectives when managing capital are: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">To safeguard the Group&#8217;s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">To support the Group&#8217;s stability and growth </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">To provide capital for the purpose of strengthening the Group&#8217;s risk management capability </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In order to maintain or adjust the capital structure, the Group reviews and manages its capital structure actively and regularly to ensure optimal capital structure and shareholder returns, taking into account the future capital requirements of the Group and capital efficiency, prevailing and projected profitability, projected operating cash flows, projected capital expenditures and projected strategic investment opportunities. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Fair value measurement</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair values are estimated at a specific point in time, by discounting expected cash flows at rates for assets and liabilities of the same remaining maturities and conditions. These estimates are subjective in nature and involve uncertainties and significant judgment, and therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation techniques: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;1 valuation: unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-61</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:10pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:10pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;2 valuation: inputs, other than quoted prices included within Level&#160;1, that are observable for the asset or liability, either directly or indirectly. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Level&#160;3 valuation: fair value measured using significant unobservable inputs. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Substantially all of the Group&#8217;s financial assets and financial liabilities are carried at amortized costs and the carrying amounts approximate their fair values. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">5.&nbsp;&nbsp;&nbsp;CASH, CASH EQUIVALENTS AND RESTRICTED CASH</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The breakdown of cash and cash equivalents is as follows: </font>
        </div>
        <table style="width:456pt;height:145pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:371.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">US dollar </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">34,971</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">368,115</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Singapore dollar </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">2,393</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2,829</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Chinese renminbi </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,927</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">37</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Norwegian krone </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">459</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,104</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Euro </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">3</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total cash and cash equivalents by currency</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">44,753</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">372,088</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:2.75pt 0pt 2.5pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Restricted cash </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">7,339</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">10,310</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:371.59pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total restricted cash</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">7,339</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">10,310</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:13pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s restricted cash primarily relates to the application of standby letters of credit. The Group has applied a total of three standby letters of credits (&#8220;SLCs&#8221;) from the Signature Bank and CTBC Bank associated with property leased and electricity service subscribed. The SLCs provide the beneficiaries, which are the service providers, the ability to draw from the banks for a designated maximum aggregate amount (the &#8220;Draw Amount&#8221;). The details of SLCs are as follows: </font>
        </div>
        <table style="width:456pt;height:50.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:227.94pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:227.94pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:108.67pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:95.38pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:227.94pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Draw Amount (In thousands of USD) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0.5pt 1.5pt 0pt; width:108.67pt;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">7,322</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0.5pt 1.5pt 0pt; width:95.38pt;">
              <div style="text-align:right;">
                <font style="letter-spacing:0.2pt;">10,293</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 2.5pt 0pt; width:227.94pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Range of expiration dates </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 2.5pt 0pt; width:108.67pt;">
              <div style="white-space:nowrap; text-align:right;">
                <font style="border-bottom:1px solid #000000;letter-spacing:0.2pt;">August&#160;2021 to June&#160;2025</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 2.5pt 0pt; width:95.38pt;">
              <div style="white-space:nowrap; text-align:right;">
                <font style="border-bottom:1px solid #000000;letter-spacing:0.2pt;">July&#160;2022 to June&#160;2025</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:13pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The amount and expiration dates of the SLCs are amended, from time to time, by the Group and beneficiaries, as a result of the amendments to the associated service agreements. In connection with the issuance of the SLCs, the banks held the Group&#8217;s cash balance equal to the Draw Amount as security. As of December&#160;31, 2020 and 2021, none was utilized by the beneficiaries from the standby letters of credits. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">6.&nbsp;&nbsp;&nbsp;CRYPTOCURRENCIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The details of cryptocurrencies are as follows: </font>
        </div>
        <table style="width:456pt;height:63pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:316.89pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.75pt 0pt 2pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.5pt 0pt; width:316.89pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 0.5pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Beginning balances </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">4,603</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,194</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">9,656</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 0.5pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">91,298</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">172,530</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">588,522</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-62</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:456pt;height:210pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:316.89pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.75pt 0pt 2pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrencies received on behalf of related parties </font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">6,312</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrencies paid on behalf of related parties </font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(24,852<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(92,391<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(170,380<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(566,629<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3pt 0pt 2pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loan to related parties </font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,316<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 2.75pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Ending balances </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">1,194</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">9,656</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">6,697</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.25pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Impairment:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Beginning balances </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(405<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(107<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(74<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 1pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(436<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3pt 0pt 2pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">298</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">33</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 2.75pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Ending balances </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(107<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">(74<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">(510<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.25pt 0pt 1pt 0pt; width:316.89pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3pt 0pt 2.75pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Beginning balances </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">4,198</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">1,087</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">9,582</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.25pt 0pt 2.75pt 0pt; width:316.89pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Ending balances </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.25pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.25pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">1,087</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.25pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.25pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">9,582</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.25pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.25pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">6,187</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4.5pt;line-height:4.5pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="20">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:11.19pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:9.2pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:9.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Cryptocurrencies received and paid on behalf of related parties represent the net effect of cryptocurrency transferred through the wallets held by the Group relating to transactions arising from Bitmain and BTC&#8217;s businesses during the Carve-out Period. Loan to related parties represents the net effect of internal transfers of cryptocurrency between the Group, Bitmain and BTC during the Carve-out Period. The remaining balances associated with these transfers are reflected in amounts due from related parties and due to related parties as of December&#160;31, 2019 and 2020. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The management&#8217;s estimates of impairment provision of cryptocurrencies are made based on the current market prices of cryptocurrencies as of each balance sheet date. Fluctuations in the market price of cryptocurrencies after the balance sheet date is not considered in determining the provision for impairment of cryptocurrencies. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">7.&nbsp;&nbsp;&nbsp;PREPAYMENTS AND OTHER ASSETS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The breakdown of prepayments and other assets is as follows: </font>
        </div>
        <table style="width:456pt;height:112.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:376.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Prepayments to suppliers </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">5,840</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">14,450</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10.0000000000001pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deposits </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,111</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,669</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deductible input value-added tax </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">2,019</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">760</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Receivable from the disposed subsidiaries </font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">10,203</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">906</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">3,805</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:376.59pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">14,876</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">35,887</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:6.7pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Represent balance due from two subsidiaries which the Group disposed of in December&#160;2021. The receivables have been fully collected by March&#160;2022. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">During the&#160;years ended December&#160;31, 2019, 2020 and 2021, the Group did not recognize any allowance for expected credit losses for prepayments and other assets. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-63</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">8.&nbsp;&nbsp;&nbsp;MINING MACHINES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The details of mining machines are as follows: </font>
        </div>
        <table style="width:456pt;height:571.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.5pt 0pt; width:385.58pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Mining Machines </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At January&#160;1, 2019</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">25,069</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">86,378</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(28,209<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(1,756<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2019</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">81,482</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Accumulated depreciation:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(8,000<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Charge for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(39,641<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">14,568</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">716</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2019</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(32,357<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Impairment:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(6,765<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">6,406</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">350</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2019</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(9<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2019</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">49,116</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">81,482</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">133,335</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(87,597<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2,026</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2020</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">129,246</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Accumulated depreciation:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(32,357<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Charge for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(98,136<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">67,113</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(1,066<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2020</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(64,446<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Impairment:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(9<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">9</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2020</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">64,800</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-64</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:456pt;height:281.5pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.5pt 0pt; width:385.58pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Mining Machines </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">129,246</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">31,645</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(37,998<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">243</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">123,136</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Accumulated depreciation:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(64,446<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Charge for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(43,857<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">32,005</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exchange adjustments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(263<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(76,561<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Impairment:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Additions</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(106<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(106<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:385.58pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:385.58pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">46,469</td>
            <td style="padding:0pt;padding-left:12.855pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4pt;line-height:4pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="8">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:10.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Included in the cost of revenue </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">9.&nbsp;&nbsp;&nbsp;PROPERTY, PLANT AND EQUIPMENT</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The details of property, plant and equipment are as follows: </font>
        </div>
        <table style="width:456pt;height:226.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.167pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Construction </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in progress </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Building </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Land </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Machinery </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Electronic </font>
                <br >
                <font style="letter-spacing:-0.16pt;">equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Leasehold </font>
                <br >
                <font style="letter-spacing:-0.16pt;">improvements </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">24,297</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">4,885</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">950</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">7,550</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">766</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">38,932</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">11,620</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">166</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">9</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">180</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">32</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">63</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8199;12,070</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:124.93pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Construction in progress transferred in </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(23,321<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">11,234</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">5,436</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">286</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,359</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">6</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(76<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(346<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(52<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">(198<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(672<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">12,596</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">16,209</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">5,445</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,070</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">13,889</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">637</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">50,330</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Accumulated depreciation:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(333<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(83<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(278<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(3,368<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">(301<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(4,363<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">12,596</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">15,876</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">5,362</td>
            <td style="padding:0pt;padding-left:6.73pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">792</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">10,521</td>
            <td style="padding:0pt;padding-left:8.745pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">336</td>
            <td style="padding:0pt;padding-left:2.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">45,967 </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-65</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:456pt;height:287.5pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.167pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Construction </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in progress </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Building </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Land </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Machinery </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Electronic </font>
                <br >
                <font style="letter-spacing:-0.16pt;">equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Leasehold </font>
                <br >
                <font style="letter-spacing:-0.16pt;">improvements </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">12,596</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">16,209</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">5,445</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,070</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">13,889</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">637</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">50,330</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">18,263</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">12</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">832</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">307</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">19,414</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:124.93pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Construction in progress transferred in </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(27,486<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,354</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">3,858</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">895</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">15,195</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,184</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(172<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(755<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(158<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(132<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8199;(1,217<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">3,373</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">22,563</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">9,143</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">2,042</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">28,926</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,996</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">68,527</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Accumulated depreciation:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(333<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(83<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(278<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(3,368<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(301<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(4,363<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Charge for the year </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
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            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
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            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(703<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(10,418<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(556<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(14,158<font style="position:absolute;">)</font></td>
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            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Impairment:</font>
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            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:124.93pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:124.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">1,162</td>
            <td style="padding:0pt;padding-left:5.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">21,275</td>
            <td style="padding:0pt;padding-left:0.0649999999999995pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">7,950</td>
            <td style="padding:0pt;padding-left:5.065pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,339</td>
            <td style="padding:0pt;padding-left:5.645pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">18,508</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,440</td>
            <td style="padding:0pt;padding-left:0.0999999999999996pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">52,158</td>
            <td style="padding:0pt;padding-left:0.835000000000001pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4pt;line-height:4pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="50">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:299.5pt;margin-top:15pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.167pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Construction in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">progress </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Building </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Land </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Machinery </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Electronic </font>
                <br >
                <font style="letter-spacing:-0.16pt;">equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Leasehold </font>
                <br >
                <font style="letter-spacing:-0.16pt;">improvements </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Cost:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">3,373</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8199;22,563</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">9,143</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">2,042</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">28,926</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8199;1,996</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">68,527</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Additions </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">59,524</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">886</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">479</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">3,228</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8199;1,329</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">65,446</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Construction in progress </font>
                <br >
                <font style="letter-spacing:0.2pt;">transferred in </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(27,097<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">6,133</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">936</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">19,646</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">382</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Disposals </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(21<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(871<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(147<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(185<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(3,435<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">33,589</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8199;23,449</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">15,734</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">5,335</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">48,425</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8199;3,522</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">130,538</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.5pt 0pt; width:107.09pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:-0.2pt;">Accumulated depreciation:</font>
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            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
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            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
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            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
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                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021 </font>
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            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(1,288<font style="position:absolute;">)</font></td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(1,193<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(703<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(10,418<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(556<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(14,158<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
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                <font style="letter-spacing:0.2pt;">Charge for the year </font>
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            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(1,100<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(1,235<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(793<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(10,805<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(501<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(14,434<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
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                <font style="letter-spacing:0.2pt;">Disposals </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">1</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">462</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">112</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">96</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">671</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2021 </font>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
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            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(2,388<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(2,427<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,034<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(21,111<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(961<font style="position:absolute;">)</font></td>
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            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">(27,921<font style="position:absolute;">)</font></td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Impairment:</font>
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            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021 </font>
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            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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                <font style="letter-spacing:0.2pt;">Disposal </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">2,211</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2,211</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:107.09pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Net book value:</font>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:107.09pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">33,589</td>
            <td style="padding:0pt;padding-left:10.015pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8199;21,061</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">484</td>
            <td style="padding:0pt;padding-left:1.17pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">13,307</td>
            <td style="padding:0pt;padding-left:4.23pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">4,301</td>
            <td style="padding:0pt;padding-left:3.98pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">27,314</td>
            <td style="padding:0pt;padding-left:7.08pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8199;2,561</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt; width:4.5pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">102,617</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-66</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Construction in progress primarily represents the construction of mining datacenters. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">For the&#160;years ended December&#160;2019 and 2020, and the period from January&#160;1, 2021 to January&#160;26, 2021, approximately US$0.2&#160;million, US$0.3&#160;million and US$0.02&#160;million of depreciation expense was allocated to Bitmain and included in changes in invested capital, respectively. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">10.&nbsp;&nbsp;&nbsp;LEASES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The Group occupies most of its office premises and certain mining datacenter under lease arrangements, which generally have an initial lease term between two to seven&#160;years. Lease contracts are typically made for fixed periods but may have extension options. The Group accounts for lease and non-lease components separately, where the non-lease component is charged to expenses as they incur. Any extension options in these leases have not been included in the lease liabilities unless the Group is reasonably certain to exercise the extension option. In addition, periods after termination options are only included in the lease term if the lease is reasonably certain not to be terminated. The Group does not have an option to purchase these leased assets at the expiration of the lease periods. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated statements of financial position show the following amounts relating to the right-of-use assets and lease liabilities: </font>
        </div>
        <table style="width:456pt;height:52.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:376.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Land and buildings </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">18,168</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">58,941</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total right-of-use assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">18,168</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">58,941</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:14.2pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Addition to the right-of-use assets for the&#160;years ended December&#160;31, 2019, 2020 and 2021 was approximately US$0.8&#160;million, US$1.2&#160;million and US$47.2&#160;million, respectively. </font>
        </div>
        <table style="width:456pt;height:67.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:376.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Lease liabilities mature within 12&#160;months </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">5,105</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">3,287</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Lease liabilities mature over 12&#160;months </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">16,845</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">59,681</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:376.59pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total lease liabilities</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">21,950</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">62,968</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:14.2pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Amounts recognized in profit or loss: </font>
        </div>
        <table style="width:456pt;height:112.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:351.88pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:351.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:351.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Depreciation expense of right-of-use assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">4,172</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">3,983</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">4,636</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:351.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gain on lease modification </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(363<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(6<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(205<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:351.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest expense </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">955</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">817</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,217</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:351.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses relating to variable payment leases </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">610</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:351.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses relating to short-term leases </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">439</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">372</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">351</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:351.88pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">5,203</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">5,166</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">6,609</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:14.19pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The total cash outflow for leases, including the capital element of lease rentals paid and interests paid on leases for the&#160;years ended December&#160;31, 2019, 2020 and 2021 was approximately US$3.9&#160;million, US$5.4&#160;million and US$5.4&#160;million, respectively. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-67</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:50pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">11.&nbsp;&nbsp;&nbsp;BORROWINGS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Borrowings consist of the following: </font>
        </div>
        <table style="width:456pt;height:67.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:388.29pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:388.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:388.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Bank loans</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(i)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:388.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Convertible debt</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(ii)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:388.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">877</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">29,460</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Group borrowed approximately US$871,000 from Signature Bank under the Paycheck Protection Program in May&#160;2020 to facilitate the Group&#8217;s US subsidiaries&#8217; operation subject to the Coronavirus Aid, Relief, and Economic Security Act promulgated by the U.S. Department of Treasury (the &#8220;PPP Loan&#8221;). The PPP Loan is unsecured, bears an annual interest of 1%, and matures in May&#160;2022. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The PPP Loan is subject to covenants, which, among others, require the Group to use proceed for only the payroll costs and payments on mortgage interest, rent, utilities and interest on other debt obligations, with at least 75% to be used for payroll costs. </font>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The PPP Loan balance also includes interest payable arising from this loan of approximately US$6,000 as of December&#160;31, 2020. In May&#160;2021, the outstanding loan balance which includes approximately US$871,000 of principal and US$9,000 of accrued interest was forgiven by the Signature Bank as authorized by Section&#160;1106 of the CARES Act. </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Group issued a US$30&#160;million promissory note on July&#160;23, 2021. The promissory note is non-secured, bears an annual interest rate of 8%, matures on July&#160;23, 2023 and provides the holder an option to convert all or any portion of the note into the Group&#8217;s ordinary shares at US$0.0632 per share at any time from the issuance of the note to the second anniversary of the date of issuance. Approximately US$683,000 was recognized as an equity component. The unamortized discount as of December&#160;31, 2021 was approximately US$524,000. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">12.&nbsp;&nbsp;&nbsp;OTHER PAYABLES AND ACCRUALS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Other payables and accruals consist of the following: </font>
        </div>
        <table style="width:456pt;height:112.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:381.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Payables for surtaxes </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">5,325</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">8,184</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accrued operating expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,061</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">2,108</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Payables for staff-related costs </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">411</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">5,839</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Payables for purchases of property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">156</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">1,127</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:381.59pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">6,953</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">17,258</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:13pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All other payables and accruals are expected to be settled within one year or are repayable on demand. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-68</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">13.&nbsp;&nbsp;&nbsp;EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Expenses by nature </font>
        </div>
        <table style="width:456pt;height:418.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:319.01pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.583pt 0pt 2.167pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(Restated) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Staff cost </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; salaries, wages and other benefits </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">13,460</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">33,041</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">37,730</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share-based payments </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">88,355</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Amortization </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">23</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">111</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">146</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Depreciation </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">39,641</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">98,136</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">43,857</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,684</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">9,807</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">14,416</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; right-of-use assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,172</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,983</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,636</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Electricity cost in operating mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">37,698</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">72,078</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">58,447</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cost of mining machines sold </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">5,392</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">17,537</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">5,978</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Consulting service fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,665</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,039</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">8,787</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Tax and surcharge </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,948</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,085</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2,202</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Advertising expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">801</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2,189</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">880</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Office expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">651</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">543</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2,219</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Research and development technical service fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">404</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">681</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,964</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses of low-value consumables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2,206</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">971</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,662</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses of variable payment lease </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">610</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expenses of short-term leases </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">439</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">372</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">351</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Impairment loss of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">106</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Logistic expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,002</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">339</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,391</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Travel expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">168</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">52</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,393</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Insurance fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">377</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">459</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">983</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:319.01pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">541</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">766</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">4,826</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.583pt 0pt; width:319.01pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total cost of revenue, selling, general and administrative and research and development expenses</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">114,272</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">245,189</td>
            <td style="padding:0pt;padding-left:0.715pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">280,939</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:13pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Other operating income / (expenses) </font>
        </div>
        <table style="width:456pt;height:112.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:340.22pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net gain / (losses) on disposal of cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(3,700<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">2,716</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">14,990</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Recognition of impairment loss of cryptocurrencies </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(436<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net loss on disposal of mining machines </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,451<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,984<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(36<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Write-off of receivables from related parties</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,025<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">124</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">248</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">107</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:340.22pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Total</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(6,027<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,045<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">14,625</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-69</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:20.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">In 2020, Bishkek Maker Cloud Technologies Co., Ltd. (&#8220;Bishkek&#8221;), an entity of the Bitdeer Business, waived a receivable of approximately US$2.0&#160;million from one of the subsidiaries of Bitmain. Bishkek was disposed of in July&#160;2021. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Other net gain /(loss) </font>
        </div>
        <table style="width:456pt;height:154.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:349.6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Loss on impairment of property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,211<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gain on extinguishment of debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">880</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:349.6pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Net gain / (loss) on disposal of property, plant and equipment and intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">(126<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">66</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">56</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Government grants </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">307</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">35</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Impairment loss of a pre-matured investment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,025<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Net gain on settlement of balances with Bitmain </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4,468</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:349.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">356</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(722<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(931<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:349.6pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">230</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,560<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">2,483</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:14.19pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Finance income / (expenses) </font>
        </div>
        <table style="width:456pt;height:142.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:352.93pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest on lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(955<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">(817<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,217<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrency transaction service fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(19<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">(458<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(109<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Gain / (loss) on foreign currency transactions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">394</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">618</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(226<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest income </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,165</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">419</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">2,947</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest expenses on bank loan </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">(6<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(3<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Interest expense on convertible debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(1,223<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:352.93pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(117<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">(136<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(110<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:352.93pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">468</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:13.5pt; text-align:right; white-space:nowrap;">(380<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">59</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:18.2pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">14.&nbsp;&nbsp;&nbsp;SHARE-BASED PAYMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In July&#160;2021, the Board of Directors of the Group approved the adoption of the 2021 Share Incentive Plan (the &#8220;2021 Plan&#8221;) granted a total of 1,097,852,000 share awards in two batches in August and November&#160;2021 to the designated recipients under the 2021 Plan. Each share award grants an option for the recipient to purchase one share of the Group&#8217;s ordinary shares at an exercise price of US$0.03 per share. The share awards vest in two to seven&#160;years, and the recipient shall continue to provide services to the Group by each vesting date. All share awards granted in 2021 expires on July&#160;20, 2031. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The following table illustrates the number of shares and weighted average exercise prices of, and movements in, share awards: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-70</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:456pt;height:101pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:276.13pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Year ended December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:276.13pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Number of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">options</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(&#8216;000) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Average exercise </font>
                <br >
                <font style="letter-spacing:-0.16pt;">price per share </font>
                <br >
                <font style="letter-spacing:-0.16pt;">option(US$) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Average fair </font>
                <br >
                <font style="letter-spacing:-0.16pt;">value per share </font>
                <br >
                <font style="letter-spacing:-0.16pt;">option(US$) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:276.13pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">As at January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:276.13pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Granted during the year </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">1,097,852</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">0.03</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #FFFFFF; min-width:13.5pt; text-align:right; white-space:nowrap;">0.23</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:276.13pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">As at December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">1,097,852</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:13.5pt; text-align:right; white-space:nowrap;">0.03</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:13.5pt; text-align:right; white-space:nowrap;">0.23</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.25pt 0pt; width:276.13pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Vested and exercisable at December&#160;31, 2021</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;border-bottom:3pt double #000000; min-width:30.75pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:18.335pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt;padding-bottom:1.75pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:15.685pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:13.3pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The expense recognized for share awards during the year ended December&#160;31, 2021 was approximately US$88.4&#160;million. The breakdown is as follows: </font>
        </div>
        <table style="width:456pt;height:84pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.5pt 0pt; width:341.8pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Year ended December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:341.8pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cost of revenue </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">10,424</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:341.8pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">General and administrative expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">54,458</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:341.8pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Research and development expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">18,246</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:341.8pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Selling expenses </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">5,227</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:341.8pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">88,355</td>
            <td style="padding:0pt;padding-left:37.245pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:13.29pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The fair value of the share awards is estimated at the grant date using the binomial model with the assistance of an independent valuation specialist. The following table provides the inputs to the model used for determining the value of the grant for the year ended December&#160;31, 2021: </font>
        </div>
        <table style="width:456pt;height:68.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:302.05pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:59.84pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At August&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At November&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:302.05pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Dividend yield (%) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:59.84pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#8212;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:302.05pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Expected volatility (%) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:59.84pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">130.19% </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">130.23<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:302.05pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Risk-free interest rate (%) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:59.84pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">1.24% </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1.57<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:302.05pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Exercise multiple </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:59.84pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">2.20&#8201;&#8211;&#8201;2.80 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">2.20</td>
            <td style="padding:0pt;padding-left:21.2pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:8.2pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The above inputs for the binomial model have been determined based on the following: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Dividend return is estimated by reference to the Group&#8217;s plan to distribute dividends in the near future. Currently, this is estimated to be zero as the Group plans to retain all profit for corporate expansion; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Expected volatility is estimated based on the daily close price volatility of a number of comparable companies to the Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:justify; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Risk-free interest rate is based on the yield to maturity of U.S. treasury bills denominated in US$ at the option valuation date; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Exercise multiple is based on empirical research on typical share award exercise behavior. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">15.&nbsp;&nbsp;&nbsp;EQUITY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Invested capital</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated financial statements were prepared in accordance with principles described in Note 2. No share capital is presented for the 2019 and 2020 historical periods. Invested capital is derived by aggregating the net assets of the Bitdeer Business&#8217;s direct and indirect subsidiaries and the net assets of the Bitdeer business activities conducted in direct and indirect subsidiaries of Bitmain as well as BTC. Invested capital also includes changes in reserve due to the effect of foreign currency translation adjustments and capital funding. For the year ended December&#160;31, 2021, invested capital includes the net </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-71</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:29pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">assets of the activities Bitdeer Business conducted in direct and indirect subsidiaries of Bitmain between January&#160;1, 2021 and January&#160;26, 2021, as well as BTC between January&#160;1, 2021 and April&#160;15, 2021. The balance of invested capital was reclassified to other reserve upon completion of the Reorganization. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Issued share capital</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The authorized share capital of the Group is US$50,000 divided into: (i)&#160;497,354,466,516 ordinary shares with a par value of US$0.0000001 each, (ii)&#160;461,033,549 Series&#160;A preferred shares with a par value of US$0.0000001 each, (iii)&#160;870,232,230 Series&#160;B preferred shares with a par value of US$0.0000001 each, and (iv)1,314,267,705 Series&#160;B+ preferred shares with a par value of US$0.0000001 each. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In August&#160;2021, The Group divided the 497,354,466,516 ordinary shares into (i)&#160;491,722,670,897 Class&#160;A ordinary shares, each with a par value of US$0.0000001 and 1 vote on all matters in any shareholders meeting of the Group and (ii)&#160;5,631,795,619 Class&#160;B ordinary shares, each with a par value of US$0.0000001 and 10 votes on all matters in any shareholders meeting of the Group. All issued and outstanding Series&#160;A, Series&#160;B and Series&#160;B+ preferred shares remain the same and unchanged. In connection with the division of ordinary shares, the Group redesignated the 5,631,795,619 ordinary shares held by Victory Courage Limited, an entity controlled by the Chairman of the Board of Directors of the Group, as Class&#160;B ordinary shares, and the remaining outstanding ordinary shares held by various shareholders as Class&#160;A ordinary shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each share of Class&#160;A ordinary shares, Series&#160;A preferred shares, Series&#160;B preferred shares and Series&#160;B+ preferred shares is granted 1 vote and each share of Class&#160;B ordinary shares is granted 10 votes. All classes of shares are entitled to dividend and rank pari&#160;passu except for voting rights. </font>
        </div>
        <table style="width:456pt;height:78pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:233.6pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;A </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Class&#160;B </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Ordinary Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:233.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021, shares issued and outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:48pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:47.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:233.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Share allotment upon Reorganization </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:48pt; text-align:right; white-space:nowrap;">10,016,592,322</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,002</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:47.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:233.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Redesignation of ordinary shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:48pt; text-align:right; white-space:nowrap;">(5,631,795,619<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">(563<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:47.25pt; text-align:right; white-space:nowrap;">5,631,795,619</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">563</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:233.6pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2021, shares issued and outstanding</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:48pt; text-align:right; white-space:nowrap;">4,384,796,703</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">439</td>
            <td style="padding:0pt;padding-left:1.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:47.25pt; text-align:right; white-space:nowrap;">5,631,795,619</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">563</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:99pt;margin-top:15pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:134.67pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Series&#160;A </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Preferred Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Series&#160;B </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Preferred Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Series&#160;B+ </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Preferred Shares </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">in USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:134.67pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">At January&#160;1, 2021, shares issued and outstanding </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:41.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:41.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:47.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:11.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.167pt 0pt 1.833pt 0pt; width:134.67pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Share allotment upon Reorganization </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:41.25pt; text-align:right; white-space:nowrap;">461,033,549</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">46</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:41.25pt; text-align:right; white-space:nowrap;">870,232,230</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">87</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:47.25pt; text-align:right; white-space:nowrap;">1,314,267,705</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">131</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.583pt 0pt; width:134.67pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:-0.2pt;">At December&#160;31, 2021, shares issued and outstanding</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:41.25pt; text-align:right; white-space:nowrap;">461,033,549</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">46</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:41.25pt; text-align:right; white-space:nowrap;">870,232,230</td>
            <td style="padding:0pt;padding-left:2.66pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:10.5pt; text-align:right; white-space:nowrap;">87</td>
            <td style="padding:0pt;padding-left:8.29pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:47.25pt; text-align:right; white-space:nowrap;">1,314,267,705</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">131</td>
            <td style="padding:0pt;padding-left:5.79pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:13pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The shares allotted to shareholders pursuant to the Reorganization were charged to reserve. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Retained earnings</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s retained earnings include the result of the Group&#8217;s operations for the year ended December&#160;31, 2021 excluding the activities Bitdeer Business conducted in direct and indirect subsidiaries of Bitmain and BTC, which were included in invested capital as discussed above. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-72</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Reserves</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s reserves include the following: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Share premium, which effectively represents the share subscription amount paid over the par value of the shares. The application of the share premium account is governed by Section&#160;34 of the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands as amended, supplemented or otherwise modified from time to time. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Invested capital reclassified upon completion of the Reorganization. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(iii)</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">All foreign exchange differences arising from the translation of the financial statements of foreign operations, excluding the effects resulting from the activities the Bitdeer Business conducted in direct and indirect subsidiaries of Bitmain and BTC, which were included in invested capital as discussed above. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iv) The value of the conversion option of the equity component embedded in the convertible debt. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(v)</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The accumulated share-based payment expenses. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Capital management</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s primary objective in terms of managing capital is to safeguard the Group&#8217;s ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders, mainly by pricing products and services commensurately with the level of risk. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group&#8217;s business and financial condition are highly correlated with the market price of cryptocurrencies. For the&#160;years ended December&#160;31, 2019, 2020 and 2021, the Group&#8217;s revenue is substantially generated from cryptocurrency-related operations. The Group has adopted various measures to minimize the risk associated with the fluctuation in the market price of cryptocurrencies, specifically, the Group has implemented an internal strategy requiring prompt conversation of all the cryptocurrencies received from ordinary operations into fiat currencies. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Group actively and regularly reviews and manages its capital structure to maintain a balance between the higher shareholder returns that might be possible with higher levels of borrowings and the advantages and security afforded by a sound capital position. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group is not subject to externally imposed capital requirements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">16.&nbsp;&nbsp;&nbsp;TAXATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The subsidiaries of the Group incorporated in the Cayman Islands and British Virgin Islands (&#8220;BVI&#8221;) are not subject to tax on income or capital gain. In addition, payments of dividends by the Group to its shareholders are not subject to withholding tax in the Cayman Islands. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The subsidiaries of the Group incorporated in other countries are subject to income tax pursuant to the rules and regulations of their respective countries of incorporation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The provisions for income taxes for the&#160;years ended December&#160;31, 2019, 2020 and 2021 are summarized as follows: </font>
        </div>
        <table style="width:456pt;height:63.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:340.22pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2.75pt 0pt 2pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.75pt 0pt 2pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.5pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Current income tax expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">637</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">52</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">13,125</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3pt 0pt 2pt 0pt; width:340.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Deferred income tax (benefit) / expenses </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(3,567<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(8,013<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3pt 0pt 2pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">35,121</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 2.75pt 0pt; width:340.22pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Total</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,930<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(7,961<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">48,246</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-73</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="text-indent:20pt; margin-top:12pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The reconciliation between the income tax benefit / (expenses) calculated by applying the applicable tax rate of 17% to the profit / (loss) before income tax and the net income tax benefit / (expenses) as shown in the statements of operations and comprehensive income / (loss) for the&#160;years ended December&#160;31, 2019, 2020 and 2021 is as follows. </font>
        </div>
        <table style="width:456pt;height:142.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:324.55pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:324.55pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:12pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:12pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:12pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:12pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Statutory income tax rate </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">17.00<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">17.00<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">17.00<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Effect of expenses not deductible for tax purpose </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(0.85<font style="position:absolute;">)%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(0.35<font style="position:absolute;">)%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">11.99<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Effect of income tax difference under different tax jurisdictions </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4.55<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">2.55<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">5.64<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Effect of tax losses not recognized in deferred tax assets </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">(12.83<font style="position:absolute;">)%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(7.39<font style="position:absolute;">)%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.63<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Prior year true-ups </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">2.11<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Effect of non-taxable income </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">1.55<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">0.50<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">(0.60<font style="position:absolute;">)%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Others </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">0.08<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:12pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">0.17<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:12pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">0.09<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:324.55pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">9.50<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">12.48<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt; width:12pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">36.86<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:14.19pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Deferred tax assets / (liabilities) as of December&#160;31, 2020 and 2021 comprise the following: </font>
        </div>
        <table style="width:456pt;height:143.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:378.26pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:378.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:378.26pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Deferred tax assets </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:378.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Net operating losses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">23,592</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4,362</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:378.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Accrued expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">704</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:378.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment and intangible assets </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">5,806</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">260</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:378.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total deferred tax assets </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">30,102</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">4,622</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:378.26pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Deferred tax liabilities </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:378.26pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(7,547<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:378.26pt;text-align:left;">
              <div style="margin-left:10pt;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Net deferred tax assets / (liabilities)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">30,102</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,925<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:14.2pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The movements in the net deferred tax assets during the&#160;years ended December&#160;31, 2019, 2020 and 2021 are as follows: </font>
        </div>
        <table style="width:456pt;height:78pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.167pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:53.32pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">January&#160;1, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:45.75pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Recognized in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">profit or loss </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:57.57pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Charged to </font>
                <br >
                <font style="letter-spacing:-0.16pt;">invested capital</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:63.59pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Tax losses carried forward </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">16,413</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2,567</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">312</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">19,292</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accrued expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">226</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">478</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:14.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">704</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">(714<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">522</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:14.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">(192<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Net deferred tax assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">15,925</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">3,567</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:14.25pt; text-align:right; white-space:nowrap;">312</td>
            <td style="padding:0pt;padding-left:21.285pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">19,804</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;height:78pt;margin-top:15pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.167pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:53.32pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">January&#160;1, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:45.75pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Recognized in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">profit or loss </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:57.57pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Charged to </font>
                <br >
                <font style="letter-spacing:-0.16pt;">invested capital</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:63.59pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Tax losses carried forward </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">19,292</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2,015</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2,285</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">23,592</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accrued expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">704</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">704</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">(192<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">5,998</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">5,806</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Net deferred tax assets</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">19,804</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">8,013</td>
            <td style="padding:0pt;padding-left:11.52pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">2,285</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">30,102</td>
            <td style="padding:0pt;padding-left:17.94pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-74</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:456pt;height:78pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 2.167pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">January&#160;1, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Recognized in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">profit or loss </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Charged to </font>
                <br >
                <font style="letter-spacing:-0.16pt;">invested capital</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">December&#160;31, 2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Tax losses carried forward </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">23,592</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(21,324<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">2,094</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">4,362</td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accrued expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">704</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(704<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:19.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24pt; text-align:right; white-space:nowrap;">5,806</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(13,093<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(7,287<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:187.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.2pt;">Net deferred tax assets / (liabilities)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24pt; text-align:right; white-space:nowrap;">30,102</td>
            <td style="padding:0pt;padding-left:12.805pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(35,121<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:7.355pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:20.25pt; text-align:right; white-space:nowrap;">2,094</td>
            <td style="padding:0pt;padding-left:17.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">(2,925<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:18.775pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.7pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Deferred tax assets charged to invested capital is due to the Group recognizing deferred tax assets related to tax losses carried forward based on the tax losses available to the individual legal entities within the Group during the Carve-out Period, which creates differences between the income tax benefit or expense determined based on the operation results of the Bitdeer Business. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Group has not recognized deductible temporary differences and a portion of the tax loss carryforward because the criteria for recognition (i.e., the probability of future taxable profits) were not met. The amount of such unused tax losses will expire as follows: </font>
        </div>
        <table style="width:456pt;height:87pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:317.19pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Tax Jurisdiction </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount in </font>
                <br >
                <font style="letter-spacing:-0.16pt;">thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Earliest year of </font>
                <br >
                <font style="letter-spacing:-0.16pt;">expiration if not </font>
                <br >
                <font style="letter-spacing:-0.16pt;">utilized </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:317.19pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Singapore </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">147,509</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">Indefinitely</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:317.19pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Hong Kong </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27.75pt; text-align:right; white-space:nowrap;">4,821</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:33.75pt; text-align:right; white-space:nowrap;">Indefinitely</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:317.19pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Canada </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">104</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #CCEEFF; min-width:33.75pt; text-align:right; white-space:nowrap;">2041</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:317.19pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Total</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:27.75pt; text-align:right; white-space:nowrap;">152,434</td>
            <td style="padding:0pt;padding-left:14.25pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt;padding-bottom:1.75pt; min-width:33.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.41pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:17.1pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">17.&nbsp;&nbsp;&nbsp;RELATED PARTY TRANSACTIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Compensation for key management and Board of Directors</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:52.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:348.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:348.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:348.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Salaries and other emoluments </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">741</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">10,175</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">11,627</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:348.59pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:11.25pt; text-align:right; white-space:nowrap;">741</td>
            <td style="padding:0pt;padding-left:0.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">10,175</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">11,627</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:17.1pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Balances and transactions with Bitmain and BTC</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">During the Carve-out Period, the Group and BTC were integrated into the group-wide operation directed by Bitmain before the completion of the Reorganization. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitmain&#8217;s business model includes a combination of stand-alone and combined business functions between Bitmain, BTC and the Group, varying by service line and country. The combined and consolidated financial statements of the Group include allocations of certain costs between Bitmain, BTC and the Group. Such allocations are estimates, and also may not represent the cost of such services if performed on a stand-alone basis. See further description of cost allocations in Note 2. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The combined and consolidated statements of financial position include certain of Bitmain&#8217;s assets and liabilities that are specifically identifiable or otherwise attributable to the Group and have been transferred to the Group in connection with the Reorganization. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The invested capital in the combined and consolidated statements of financial position represents Bitmain&#8217;s historical investment in the Group, the net effect of allocations from transactions with Bitmain and BTC, and the Group&#8217;s accumulated retained earnings. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-75</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="text-indent:20pt; margin-top:12pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Upon completion of the Reorganization, the Group started operating on a stand-alone basis and Bitmain and BTC no longer hold equity interest, exercise significant influence over, or act as an affiliate of the Group and its operations. As a result, Bitmain and BTC ceased to be related parties to the Group. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Balances associated with Bitmain and BTC were included in amounts due from related parties and amounts due to related parties as of December&#160;31, 2020. The activities between the Group and Bitmain and BTC before the completion date of the Reorganization were presented as related party transactions in the combined and consolidated statements of operations and comprehensive income / (loss), cash flows and changes in invested capital and equity for all periods presented. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A reconciliation of deemed contribution from / (distribution to) related parties to the corresponding amounts presented in the combined and consolidated statement of cash flows for all periods presented is as follows: </font>
        </div>
        <table style="width:456pt;height:118.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:320.22pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:320.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:320.22pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Deemed contribution from / (distribution to) related parties per combined and consolidated statements of changes in invested capital and equity </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">28,882</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(157,557<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(29,311<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:320.22pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Corporate allocations </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">671</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">(1,709<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(2,167<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:2.167pt 0pt 1.833pt 0pt; width:320.22pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Net effect of attribution of the assets and liabilities from Bitmain&#8217;s business </font>
                <br >
                <font style="letter-spacing:0.2pt;">transferred to the Group during the Reorganization </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">202,103</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:27pt; text-align:right; white-space:nowrap;">(235,506<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">20,535</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.583pt 0pt; width:320.22pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total deemed contribution from / (distribution to) related parties per combined and consolidated statements of cash flows</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">231,656</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:27pt; text-align:right; white-space:nowrap;">(394,772<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:3pt double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">(10,943<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:15.6pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Balances</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">and</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">transactions</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">with Bitmain and BTC</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:7.12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Details of assets, liabilities and transactions with Bitmain and BTC are as follows: </font>
        </div>
        <table style="width:456pt;height:175pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:383.29pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:383.29pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Due from Bitmain and BTC</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Trade receivables from Bitmain and BTC</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,617</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Loans to Bitmain</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(3)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">167,040</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Other receivables from Bitmain</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">441,118</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total due from Bitmain and BTC</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:-0.15pt;">(4)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">609,775</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:383.29pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Due to Bitmain</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Borrowings from Bitmain</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(3)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">24,757</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Other payables to Bitmain</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">638,191</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:383.29pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total due to Bitmain</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:-0.15pt;">(4)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">662,948</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:3pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:11.91pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Transactions with Bitmain and BTC before the completion date of the Reorganization were disclosed as below: </font>
        </div>
        <table style="width:456pt;height:37pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:336.88pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:336.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:336.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Revenue from Bitmain and BTC</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">34,237</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">88,054</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">73,522</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:6.61pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:6.61pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Trade receivables and revenue from Bitmain and BTC arise from the Group&#8217;s normal course of business, See Note 2. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-76</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:14.5pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:10pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:10pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Other receivables from and other payables to Bitmain represent primarily the amount due from or due to Bitmain arising from Bitmain&#8217;s business historically recorded and remained on the books of the Group&#8217;s subsidiaries. As of December&#160;31, 2020, approximately US$0.7 million was included in other receivables relating to the receivable recognized upon disposal of property, plant and equipment to Bitmain and approximately US$9 million was included in other payables relating to the payable recognized upon purchase of mining machines from Bitmain. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Loans to and borrowings from Bitmain represent money received from or made to Bitmain. As of December&#160;31, 2020, approximately US$162&#160;million of the loans to Bitmain are not secured and subject to an annual interest rate of LIBOR adjusted upwards by a range from 0.80% to 4.00%. As of December&#160;31, 2020, approximately US$1&#160;million of interest-bearing loans are due on demand and approximately US$161&#160;million of the interest-bearing loans will start to mature in December&#160;2021. The remainder of the loans and all of the borrowings from Bitmain are not secured, interest-free, and due on demand. The balance of loans to Bitmain also includes the interest accrued from applicable loans. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(4)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Balances due from Bitmain and BTC and due to Bitmain as of December&#160;31, 2020 are included in due from related parties and due to related parties on the combined and consolidated statements of financial position. In July&#160;2021, the Group signed an agreement with Bitmain to settle the balances. According to the agreements, both parties agreed to offset outstanding receivables against the outstanding payables and to settle the remaining net balance in cash. In December&#160;2021, the Group paid approximately US$26&#160;million to Bitmain and settled balances with Bitmain in full. As of December&#160;31, 2021, the Group has no balance with Bitmain. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Other related party balances and transactions</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following set forth other significant related parties and their relationships with the Group: </font>
        </div>
        <table style="width:456pt;height:35.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Name of related parties </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Relationship with the Group </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Matrix Finance and Technologies Holding Group and its subsidiaries (&#8220;Matrixport Group&#8221;) </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Entities over which the Group&#8217;s key management personnel has significant influence</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Details of due from related party are as follows: </font>
        </div>
        <table style="width:456pt;height:130pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:386.59pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">At December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:386.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:386.59pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Due from related party</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:386.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Trade receivables </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">413</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:386.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Loans to a related party</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,254</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,087</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:386.59pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total due from related party</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,254</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">1,500</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 1.5pt 0pt; width:386.59pt;text-align:left;">
              <font style="letter-spacing:-0.2pt;">Due to related party</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:386.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Other payables</font><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:386.59pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Total due to related party</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">19</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Loans to a related party represent unsecured, interest-free loans made to the related party. These loans are due on demand. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Other payables represent the accrued service expense related to the custody and other services provided by the related party. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-77</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:122pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Details of transactions with the related party are as follows: </font>
        </div>
        <table style="width:456pt;height:65.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:356.73pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:356.73pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:356.73pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Provide service to a related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.425pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">530</td>
            <td style="padding:0pt;padding-left:1.425pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:356.73pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Receive service from a related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.425pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">294</td>
            <td style="padding:0pt;padding-left:1.425pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:356.73pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Interest earned from a related party </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:7.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:4.43pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.425pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:17.25pt; text-align:right; white-space:nowrap;">2,289</td>
            <td style="padding:0pt;padding-left:1.425pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:14.19pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">During the&#160;years ended December&#160;31, 2019, 2020 and 2021, substantially all of the Group&#8217;s cryptocurrencies were held in custody by Matrixport Group, and the Group&#8217;s disposal of cryptocurrencies, at spot price on the date of disposal, was primarily to Matrixport Group. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In February&#160;2021, the Group signed a loan agreement with Matrixport Group, pursuant to which the Group agreed to grant a revolving line of credit with a maximum amount of US$20&#160;million charged with an annual interest of 12.5% by the Group, each tranche of credit utilized shall be repaid within 60&#160;days. The credit line has expired, and the loan has been fully repaid in June&#160;2021. The Group received an interest of approximately US$0.8 million associated with the loan. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In September&#160;2021, the Group signed a loan agreement with Matrixport Group, pursuant to which the Group agreed to grant a loan of 30&#160;million USDC. The loan bears an annual interest of 8.25% and is due in December&#160;2021. The loan has been fully repaid in December&#160;2021 and the Group received an interest of approximately US$0.7 million associated with the loan. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">In October&#160;2021, the Group purchased a short-term wealth management product in the amount of 30&#160;million USDT from Matrixport Group. The wealth management product was purchased on October&#160;20, 2021 and redeemed on December&#160;28, 2021, and yielded an income for the Group of approximately US$0.7 million. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">18.&nbsp;&nbsp;&nbsp;EARNINGS / (LOSS) PER SHARE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The calculation of basic earnings / (loss) per share is based on the profit attributable to ordinary equity shareholders of the Group and the weighted average number of ordinary shares outstanding for the year ended December&#160;31, 2021. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Diluted earnings / (loss) per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the respective periods. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The following reflects the income and share data used in the basic and diluted earnings / (loss) per ordinary share computations: </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-78</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <table style="width:456pt;height:250.5pt;margin-top:12pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:283.76pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:1.75pt 0pt 1pt 0pt; width:283.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD, except for the per share data </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.75pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.75pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:1.75pt 0pt 1pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0.417pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Profit / (loss) attributable to ordinary equity shareholders of the Group </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">82,643</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0.667pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Weighted average number of ordinary shares outstanding (thousand shares) </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.75pt 0pt 1.667pt 0pt; width:283.76pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Basic earnings / (loss) per share (In USD)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.75pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.75pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.75pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.75pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">0.01</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Profit / (loss) attributable to ordinary equity shareholders of the Group </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">82,643</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:0.667pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Increase in profit attributable to ordinary equity shareholders of the Group resulted from conversion of convertible debt </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.333pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">1,223</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0.417pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Profit / (loss) attributable to ordinary equity shareholders of the Group for diluted EPS </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(27,900<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">(55,826<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">83,866</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0.667pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Weighted average number of ordinary shares outstanding (thousand shares) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.667pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:283.76pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Adjusted for: </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 0.5pt 0pt; width:283.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Assumed conversion of convertible debt </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">210,681</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:2pt 0pt 1pt 0pt; width:283.76pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">&#8722; Assumed exercise of share awards </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">104,370</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0.417pt 0pt 0.5pt 0pt; width:283.76pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Weighted average number of shares outstanding for diluted EPS (thousand shares) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,662,126</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0.417pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">12,977,177</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2pt 0pt 1.75pt 0pt; width:283.76pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Diluted earnings / (loss) per share (In USD)</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">(0.00<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2pt 0pt 1pt 0pt;border-bottom:3pt double #000000; min-width:34.5pt; text-align:right; white-space:nowrap;">0.01</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:6.61pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:6.61pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Each share of Class&#160;A ordinary shares, Series&#160;A preferred shares, Series&#160;B preferred shares and Series&#160;B+ preferred shares is granted 1 vote and each share of Class&#160;B ordinary shares is granted 10 votes. All classes of shares are entitled to dividend and rank pari&#160;passu except for voting rights. They are included in the ordinary shares and the shareholders of these preferred shares are referred to as the ordinary equity shareholders in the context of notes and presentations of earnings per share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:9.83pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">19.&nbsp;&nbsp;&nbsp;SUPPLEMENTAL CASH FLOW INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The non-cash investing and financing activities are as follows: </font>
        </div>
        <table style="width:456pt;height:178pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:341.88pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Years ended December&#160;31, </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:341.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">In thousands of USD </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2019 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2020 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">2021 </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:341.88pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">NON-CASH INVESTING AND FINANCING TRANSACTIONS </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:341.88pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Liabilities assumed in connection with acquisition of mining machines from related party </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">30,967</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">9,302</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:341.88pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Operating lease right-of-use assets obtained in exchange for operating lease liabilities </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">31,596</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,174</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">47,178</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:341.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Payment for purchase of mining machines in form of cryptocurrencies </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">11,986</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:341.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrencies received on behalf of related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">6,312</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:341.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cryptocurrencies paid on behalf of related parties </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">24,852</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:341.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Receivable on disposal of property, plant and equipment </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">850</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 1.5pt 0pt; width:341.88pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Liabilities assumed in connection with acquisition of property, plant and equipment </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">563</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">156</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">3,494</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:11.5pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">20.&nbsp;&nbsp;&nbsp;SUBSEQUENT EVENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In January&#160;2022, the Group purchased a short-term wealth management product in the amount of 80&#160;million USDT from Matrixport Group. The wealth management product was purchased on January&#160;14, 2022 and redeemed on March&#160;28, 2022. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-79</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:476pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES HOLDING COMPANY AND SUBSIDIARIES </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTES TO THE COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS</font>
        </div>
        <div style="text-indent:20pt; margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In April&#160;2022, the Group signed a loan agreement with the Matrixport Group, pursuant to which the Group agreed to grant a loan of 15&#160;million USDT and 5&#160;million USDC. The loan bears a weighted average annual interest of 6% and is due in June&#160;2022. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On May 12, 2022, the Group signed a loan agreement with the Matrixport Group, pursuant to which the Group agreed to grant a loan of 30 million USDC to Matrixport Group. The loan bears an annual interest rate of 15% and is due on May 19, 2022. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">There were no other material subsequent events during the period from December&#160;31, 2021 to the approval date of this combined and consolidated financial statements on May&#160;25, 2022.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">F-80</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:right; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Annex A</font>&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:right; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Execution Version</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">dated </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">December&#160;15, 2021 </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">by and among </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Technologies Holding Company, </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Group Acquisition Corp., </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Technologies Group, </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Merge Limited, </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Merge II Limited, </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Merge Limited, </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">and </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Mini Corp. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="TOC4">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TABLE OF CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:623.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:422.96pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Page </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tARID"><font style="letter-spacing:-0.2pt;">ARTICLE I DEFINITIONS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tARID">A-1</a></font> <a href="#tARID"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAIM"><font style="letter-spacing:-0.2pt;">ARTICLE II INITIAL MERGERS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAIM">A-9</a></font> <a href="#tAIM"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2MUT"><font style="letter-spacing:0.2pt;">2.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2MUT"><font style="letter-spacing:0.2pt;">Initial Mergers </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2MUT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2MUT">A-9</a></font> <a href="#t2MUT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2CIM"><font style="letter-spacing:0.2pt;">2.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2CIM"><font style="letter-spacing:0.2pt;">Initial Closings; Initial Mergers Effective Time </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2CIM">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2CIM">A-9</a></font> <a href="#t2CIM"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2OTF"><font style="letter-spacing:0.2pt;">2.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2OTF"><font style="letter-spacing:0.2pt;">Effect of the First SPAC Merger </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2OTF">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2OTF">A-9</a></font> <a href="#t2OTF"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2AAO"><font style="letter-spacing:0.2pt;">2.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2AAO"><font style="letter-spacing:0.2pt;">Memorandum and Articles of Association of Initial SPAC Surviving Sub </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2AAO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2AAO">A-10</a></font> <a href="#t2AAO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2AOO"><font style="letter-spacing:0.2pt;">2.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2AOO"><font style="letter-spacing:0.2pt;">Directors and Officers of Initial SPAC Surviving Sub </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2AOO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2AOO">A-10</a></font> <a href="#t2AOO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2OTS"><font style="letter-spacing:0.2pt;">2.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2OTS"><font style="letter-spacing:0.2pt;">Effect of the Second SPAC Merger </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2OTS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2OTS">A-10</a></font> <a href="#t2OTS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2AAO1"><font style="letter-spacing:0.2pt;">2.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2AAO1"><font style="letter-spacing:0.2pt;">Memorandum and Articles of Association of Subsequent SPAC Surviving Sub </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2AAO1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2AAO1">A-10</a></font> <a href="#t2AAO1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2AOO1"><font style="letter-spacing:0.2pt;">2.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2AOO1"><font style="letter-spacing:0.2pt;">Directors and Officers of Subsequent SPAC Surviving Sub </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2AOO1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2AOO1">A-10</a></font> <a href="#t2AOO1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t2ONA"><font style="letter-spacing:0.2pt;">2.9</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t2ONA"><font style="letter-spacing:0.2pt;">Taking of Necessary Action; Further Action </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t2ONA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t2ONA">A-10</a></font> <a href="#t2ONA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAIM1"><font style="letter-spacing:-0.2pt;">ARTICLE III ACQUISITION MERGER</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAIM1">A-11</a></font> <a href="#tAIM1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3MUT"><font style="letter-spacing:0.2pt;">3.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3MUT"><font style="letter-spacing:0.2pt;">Acquisition Merger </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3MUT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3MUT">A-11</a></font> <a href="#t3MUT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3CAC"><font style="letter-spacing:0.2pt;">3.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3CAC"><font style="letter-spacing:0.2pt;">Acquisition Closing; Acquisition Closing Effective Time </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3CAC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3CAC">A-11</a></font> <a href="#t3CAC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3OTA"><font style="letter-spacing:0.2pt;">3.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3OTA"><font style="letter-spacing:0.2pt;">Effect of the Acquisition Merger </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3OTA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3OTA">A-11</a></font> <a href="#t3OTA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3AAO"><font style="letter-spacing:0.2pt;">3.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3AAO"><font style="letter-spacing:0.2pt;">Memorandum and Articles of Association of the Surviving Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3AAO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3AAO">A-11</a></font> <a href="#t3AAO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3AOO"><font style="letter-spacing:0.2pt;">3.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3AOO"><font style="letter-spacing:0.2pt;">Directors and Officers of the Surviving Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3AOO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3AOO">A-11</a></font> <a href="#t3AOO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3ONA"><font style="letter-spacing:0.2pt;">3.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3ONA"><font style="letter-spacing:0.2pt;">Taking of Necessary Action; Further Action </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3ONA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3ONA">A-11</a></font> <a href="#t3ONA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3TTO"><font style="letter-spacing:0.2pt;">3.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3TTO"><font style="letter-spacing:0.2pt;">U.S. Tax Treatment of the Mergers </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3TTO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3TTO">A-12</a></font> <a href="#t3TTO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t3DSP"><font style="letter-spacing:0.2pt;">3.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t3DSP"><font style="letter-spacing:0.2pt;">American Depositary Shares </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t3DSP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t3DSP">A-12</a></font> <a href="#t3DSP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tARIV"><font style="letter-spacing:-0.2pt;">ARTICLE IV CONSIDERATION</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tARIV">A-12</a></font> <a href="#tARIV"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t4OFS"><font style="letter-spacing:0.2pt;">4.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t4OFS"><font style="letter-spacing:0.2pt;">Effect of First SPAC Merger on SPAC Securities </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t4OFS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t4OFS">A-12</a></font> <a href="#t4OFS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t4OSS"><font style="letter-spacing:0.2pt;">4.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t4OSS"><font style="letter-spacing:0.2pt;">Effect of Second SPAC Merger </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t4OSS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t4OSS">A-13</a></font> <a href="#t4OSS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t4OAM"><font style="letter-spacing:0.2pt;">4.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t4OAM"><font style="letter-spacing:0.2pt;">Effect of Acquisition Merger on Company Securities </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t4OAM">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t4OAM">A-13</a></font> <a href="#t4OAM"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t4OMC"><font style="letter-spacing:0.2pt;">4.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t4OMC"><font style="letter-spacing:0.2pt;">Payment of Merger Consideration </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t4OMC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t4OMC">A-15</a></font> <a href="#t4OMC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t45RI"><font style="letter-spacing:0.2pt;">4.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t45RI"><font style="letter-spacing:0.2pt;">Dissenter&#8217;s Rights </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t45RI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t45RI">A-17</a></font> <a href="#t45RI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t4RNA"><font style="letter-spacing:0.2pt;">4.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t4RNA"><font style="letter-spacing:0.2pt;">Withholding Rights </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t4RNA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t4RNA">A-18</a></font> <a href="#t4RNA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t4TTC"><font style="letter-spacing:0.2pt;">4.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t4TTC"><font style="letter-spacing:0.2pt;">Transfer Taxes </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t4TTC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t4TTC">A-19</a></font> <a href="#t4TTC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAVAW"><font style="letter-spacing:-0.2pt;">ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE COMPANY</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAVAW">A-19</a></font> <a href="#tAVAW"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5EAP"><font style="letter-spacing:0.2pt;">5.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5EAP"><font style="letter-spacing:0.2pt;">Corporate Existence and Power </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5EAP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5EAP">A-19</a></font> <a href="#t5EAP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5TCG"><font style="letter-spacing:0.2pt;">5.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5TCG"><font style="letter-spacing:0.2pt;">Authorization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5TCG">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5TCG">A-19</a></font> <a href="#t5TCG"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5ANT"><font style="letter-spacing:0.2pt;">5.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5ANT"><font style="letter-spacing:0.2pt;">Governmental Authorization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5ANT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5ANT">A-19</a></font> <a href="#t5ANT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5TED"><font style="letter-spacing:0.2pt;">5.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5TED"><font style="letter-spacing:0.2pt;">Non-Contravention </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5TED">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5TED">A-20</a></font> <a href="#t5TED"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t55ST"><font style="letter-spacing:0.2pt;">5.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t55ST"><font style="letter-spacing:0.2pt;">Capital Structure </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t55ST">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t55ST">A-20</a></font> <a href="#t55ST"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5DCO"><font style="letter-spacing:0.2pt;">5.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5DCO"><font style="letter-spacing:0.2pt;">Charter Documents </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5DCO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5DCO">A-21</a></font> <a href="#t5DCO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5RTR"><font style="letter-spacing:0.2pt;">5.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5RTR"><font style="letter-spacing:0.2pt;">Corporate Records </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5RTR">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5RTR">A-21</a></font> <a href="#t5RTR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t58S"><font style="letter-spacing:0.2pt;">5.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t58S"><font style="letter-spacing:0.2pt;">Subsidiaries </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t58S">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t58S">A-21</a></font> <a href="#t58S"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5NCB"><font style="letter-spacing:0.2pt;">5.9</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5NCB"><font style="letter-spacing:0.2pt;">Consents </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5NCB">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5NCB">A-21</a></font> <a href="#t5NCB"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t51ST"><font style="letter-spacing:0.2pt;">5.10</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t51ST"><font style="letter-spacing:0.2pt;">Financial Statements </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t51ST">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t51ST">A-21</a></font> <a href="#t51ST"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5ACT"><font style="letter-spacing:0.2pt;">5.11</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5ACT"><font style="letter-spacing:0.2pt;">Internal Accounting Controls </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5ACT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5ACT">A-22</a></font> <a href="#t5ACT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5OCC"><font style="letter-spacing:0.2pt;">5.12</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5OCC"><font style="letter-spacing:0.2pt;">Absence of Certain Changes </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5OCC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5OCC">A-22</a></font> <a href="#t5OCC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-i</font>
          <br >
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      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="TOC5">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:653.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:422.96pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Page </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5TTT"><font style="letter-spacing:0.2pt;">5.13</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5TTT"><font style="letter-spacing:0.2pt;">Properties; Title to the Company Group&#8217;s Assets </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5TTT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5TTT">A-22</a></font> <a href="#t5TTT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5EAS"><font style="letter-spacing:0.2pt;">5.14</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5EAS"><font style="letter-spacing:0.2pt;">Litigation </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5EAS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5EAS">A-23</a></font> <a href="#t5EAS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t515"><font style="letter-spacing:0.2pt;">5.15</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t515"><font style="letter-spacing:0.2pt;">Contracts </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t515">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t515">A-23</a></font> <a href="#t515"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5APS"><font style="letter-spacing:0.2pt;">5.16</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5APS"><font style="letter-spacing:0.2pt;">Licenses and Permits </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5APS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5APS">A-25</a></font> <a href="#t5APS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5WL"><font style="letter-spacing:0.2pt;">5.17</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5WL"><font style="letter-spacing:0.2pt;">Compliance with Laws </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5WL">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5WL">A-25</a></font> <a href="#t5WL"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t51PR"><font style="letter-spacing:0.2pt;">5.18</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t51PR"><font style="letter-spacing:0.2pt;">Intellectual Property </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t51PR">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t51PR">A-26</a></font> <a href="#t51PR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5AS"><font style="letter-spacing:0.2pt;">5.19</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5AS"><font style="letter-spacing:0.2pt;">Customers and Suppliers </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5AS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5AS">A-28</a></font> <a href="#t5AS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5RAP"><font style="letter-spacing:0.2pt;">5.20</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5RAP"><font style="letter-spacing:0.2pt;">Accounts Receivable and Payable; Loans </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5RAP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5RAP">A-28</a></font> <a href="#t5RAP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5EAS1"><font style="letter-spacing:0.2pt;">5.21</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5EAS1"><font style="letter-spacing:0.2pt;">Pre-payments </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5EAS1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5EAS1">A-28</a></font> <a href="#t5EAS1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t522"><font style="letter-spacing:0.2pt;">5.22</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t522"><font style="letter-spacing:0.2pt;">Employees </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t522">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t522">A-28</a></font> <a href="#t522"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t52MA"><font style="letter-spacing:0.2pt;">5.23</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t52MA"><font style="letter-spacing:0.2pt;">Employment Matters </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t52MA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t52MA">A-29</a></font> <a href="#t52MA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5EAD"><font style="letter-spacing:0.2pt;">5.24</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5EAD"><font style="letter-spacing:0.2pt;">Withholding </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5EAD">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5EAD">A-29</a></font> <a href="#t5EAD"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t52PR"><font style="letter-spacing:0.2pt;">5.25</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t52PR"><font style="letter-spacing:0.2pt;">Real Property </font></a>
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              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t52PR">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t52PR">A-29</a></font> <a href="#t52PR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t52MA1"><font style="letter-spacing:0.2pt;">5.26</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t52MA1"><font style="letter-spacing:0.2pt;">Tax Matters </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t52MA1">&#8203;</a>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t52MA1">A-30</a></font> <a href="#t52MA1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t52LA"><font style="letter-spacing:0.2pt;">5.27</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t52LA"><font style="letter-spacing:0.2pt;">Environmental Laws </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t52LA">&#8203;</a>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t52LA">A-31</a></font> <a href="#t52LA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5OAA"><font style="letter-spacing:0.2pt;">5.28</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5OAA"><font style="letter-spacing:0.2pt;">Powers of Attorney and Suretyships </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5OAA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5OAA">A-31</a></font> <a href="#t5OAA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5AOS"><font style="letter-spacing:0.2pt;">5.29</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5AOS"><font style="letter-spacing:0.2pt;">Directors and Officers </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5AOS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5AOS">A-31</a></font> <a href="#t5AOS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5INT"><font style="letter-spacing:0.2pt;">5.30</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5INT"><font style="letter-spacing:0.2pt;">Other Information </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5INT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5INT">A-31</a></font> <a href="#t5INT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5BPT"><font style="letter-spacing:0.2pt;">5.31</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5BPT"><font style="letter-spacing:0.2pt;">Certain Business Practices </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5BPT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5BPT">A-31</a></font> <a href="#t5BPT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5ALN"><font style="letter-spacing:0.2pt;">5.32</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5ALN"><font style="letter-spacing:0.2pt;">Sanctions; Anti-Money Laundering </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5ALN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5ALN">A-32</a></font> <a href="#t5ALN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5AIC"><font style="letter-spacing:0.2pt;">5.33</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5AIC"><font style="letter-spacing:0.2pt;">Not an Investment Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5AIC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5AIC">A-32</a></font> <a href="#t5AIC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t5EAW"><font style="letter-spacing:0.2pt;">5.34</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t5EAW"><font style="letter-spacing:0.2pt;">Insurance </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t5EAW">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t5EAW">A-32</a></font> <a href="#t5EAW"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAVAW1"><font style="letter-spacing:-0.2pt;">ARTICLE VI REPRESENTATIONS AND WARRANTIES OF SPAC PARTIES</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAVAW1">A-32</a></font> <a href="#tAVAW1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6EAP"><font style="letter-spacing:0.2pt;">6.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6EAP"><font style="letter-spacing:0.2pt;">Corporate Existence and Power </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6EAP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6EAP">A-32</a></font> <a href="#t6EAP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6ESP"><font style="letter-spacing:0.2pt;">6.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6ESP"><font style="letter-spacing:0.2pt;">Authorization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6ESP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6ESP">A-32</a></font> <a href="#t6ESP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6AOT"><font style="letter-spacing:0.2pt;">6.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6AOT"><font style="letter-spacing:0.2pt;">Governmental Authorization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6AOT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6AOT">A-33</a></font> <a href="#t6AOT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6TED"><font style="letter-spacing:0.2pt;">6.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6TED"><font style="letter-spacing:0.2pt;">Non-Contravention </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6TED">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6TED">A-33</a></font> <a href="#t6TED"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6FTI"><font style="letter-spacing:0.2pt;">6.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6FTI"><font style="letter-spacing:0.2pt;">Finders&#8217; Fees </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6FTI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6FTI">A-33</a></font> <a href="#t6FTI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t66C"><font style="letter-spacing:0.2pt;">6.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t66C"><font style="letter-spacing:0.2pt;">Capitalization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t66C">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t66C">A-33</a></font> <a href="#t66C"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6FAO"><font style="letter-spacing:0.2pt;">6.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6FAO"><font style="letter-spacing:0.2pt;">Trust Fund </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6FAO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6FAO">A-34</a></font> <a href="#t6FAO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6AOT1"><font style="letter-spacing:0.2pt;">6.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6AOT1"><font style="letter-spacing:0.2pt;">Listing </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6AOT1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6AOT1">A-34</a></font> <a href="#t6AOT1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6CSI"><font style="letter-spacing:0.2pt;">6.9</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6CSI"><font style="letter-spacing:0.2pt;">Reporting Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6CSI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6CSI">A-34</a></font> <a href="#t6CSI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6AEO"><font style="letter-spacing:0.2pt;">6.10</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6AEO"><font style="letter-spacing:0.2pt;">Board Approval </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6AEO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6AEO">A-34</a></font> <a href="#t6AEO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6SDA"><font style="letter-spacing:0.2pt;">6.11</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6SDA"><font style="letter-spacing:0.2pt;">SPAC SEC Documents and Financial Statements </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6SDA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6SDA">A-34</a></font> <a href="#t6SDA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6TIN"><font style="letter-spacing:0.2pt;">6.12</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6TIN"><font style="letter-spacing:0.2pt;">Litigation </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6TIN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6TIN">A-35</a></font> <a href="#t6TIN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6WLN"><font style="letter-spacing:0.2pt;">6.13</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6WLN"><font style="letter-spacing:0.2pt;">Compliance with Laws </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6WLN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6WLN">A-35</a></font> <a href="#t6WLN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t6AIC"><font style="letter-spacing:0.2pt;">6.14</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t6AIC"><font style="letter-spacing:0.2pt;">Not an Investment Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t6AIC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t6AIC">A-35</a></font> <a href="#t6AIC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t61MA"><font style="letter-spacing:0.2pt;">6.15</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t61MA"><font style="letter-spacing:0.2pt;">Tax Matters </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t61MA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t61MA">A-35</a></font> <a href="#t61MA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAVAW2"><font style="letter-spacing:-0.2pt;">ARTICLE VII REPRESENTATIONS AND WARRANTIES OF ACQUISITION ENTITIES</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAVAW2">A-36</a></font> <a href="#tAVAW2"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7EAP"><font style="letter-spacing:0.2pt;">7.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7EAP"><font style="letter-spacing:0.2pt;">Corporate Existence and Power </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7EAP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7EAP">A-36</a></font> <a href="#t7EAP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7EAE"><font style="letter-spacing:0.2pt;">7.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7EAE"><font style="letter-spacing:0.2pt;">Authorization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7EAE">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7EAE">A-36</a></font> <a href="#t7EAE"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7AOT"><font style="letter-spacing:0.2pt;">7.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7AOT"><font style="letter-spacing:0.2pt;">Governmental Authorization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7AOT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7AOT">A-36</a></font> <a href="#t7AOT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7TED"><font style="letter-spacing:0.2pt;">7.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7TED"><font style="letter-spacing:0.2pt;">Non-Contravention </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7TED">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7TED">A-36</a></font> <a href="#t7TED"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-ii</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="TOC6">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:653.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:422.96pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Page </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7FTI"><font style="letter-spacing:0.2pt;">7.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7FTI"><font style="letter-spacing:0.2pt;">Finders&#8217; Fees </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7FTI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7FTI">A-36</a></font> <a href="#t7FTI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7OST"><font style="letter-spacing:0.2pt;">7.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7OST"><font style="letter-spacing:0.2pt;">Issuance of Shares </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7OST">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7OST">A-36</a></font> <a href="#t7OST"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t77C"><font style="letter-spacing:0.2pt;">7.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t77C"><font style="letter-spacing:0.2pt;">Capitalization </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t77C">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t77C">A-36</a></font> <a href="#t77C"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7ATS"><font style="letter-spacing:0.2pt;">7.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7ATS"><font style="letter-spacing:0.2pt;">Board Approval </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7ATS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7ATS">A-37</a></font> <a href="#t7ATS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7TIN"><font style="letter-spacing:0.2pt;">7.9</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7TIN"><font style="letter-spacing:0.2pt;">Litigation </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7TIN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7TIN">A-37</a></font> <a href="#t7TIN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7WLN"><font style="letter-spacing:0.2pt;">7.10</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7WLN"><font style="letter-spacing:0.2pt;">Compliance with Laws </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7WLN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7WLN">A-37</a></font> <a href="#t7WLN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7AIC"><font style="letter-spacing:0.2pt;">7.11</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7AIC"><font style="letter-spacing:0.2pt;">Not an Investment Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7AIC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7AIC">A-37</a></font> <a href="#t7AIC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7AEA"><font style="letter-spacing:0.2pt;">7.12</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7AEA"><font style="letter-spacing:0.2pt;">Business Activities </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7AEA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7AEA">A-37</a></font> <a href="#t7AEA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7ECE"><font style="letter-spacing:0.2pt;">7.13</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7ECE"><font style="letter-spacing:0.2pt;">U.S. Entity Classification Elections </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7ECE">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7ECE">A-37</a></font> <a href="#t7ECE"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7TTN"><font style="letter-spacing:0.2pt;">7.14</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7TTN"><font style="letter-spacing:0.2pt;">Intended Tax Treatment </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7TTN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7TTN">A-38</a></font> <a href="#t7TTN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7PIP"><font style="letter-spacing:0.2pt;">7.15</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7PIP"><font style="letter-spacing:0.2pt;">Foreign Private Issuer </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7PIP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7PIP">A-38</a></font> <a href="#t7PIP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t7DPS"><font style="letter-spacing:0.2pt;">7.16</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t7DPS"><font style="letter-spacing:0.2pt;">Organizational Documents. </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t7DPS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t7DPS">A-38</a></font> <a href="#t7DPS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAVOT"><font style="letter-spacing:-0.2pt;">ARTICLE VIII COVENANTS OF THE RELEVANT PARTIES PENDING CLOSING</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAVOT">A-38</a></font> <a href="#tAVOT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8OTB"><font style="letter-spacing:0.2pt;">8.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8OTB"><font style="letter-spacing:0.2pt;">Conduct of the Business </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8OTB">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8OTB">A-38</a></font> <a href="#t8OTB"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8TIF"><font style="letter-spacing:0.2pt;">8.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8TIF"><font style="letter-spacing:0.2pt;">Access to Information </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8TIF">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8TIF">A-40</a></font> <a href="#t8TIF"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8OCE"><font style="letter-spacing:0.2pt;">8.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8OCE"><font style="letter-spacing:0.2pt;">Notices of Certain Events </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8OCE">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8OCE">A-40</a></font> <a href="#t8OCE"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t84FI"><font style="letter-spacing:0.2pt;">8.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t84FI"><font style="letter-spacing:0.2pt;">SEC Filings </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t84FI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t84FI">A-41</a></font> <a href="#t84FI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8RS"><font style="letter-spacing:0.2pt;">8.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8RS"><font style="letter-spacing:0.2pt;">The Registration Statement </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8RS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8RS">A-41</a></font> <a href="#t8RS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8ATC"><font style="letter-spacing:0.2pt;">8.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8ATC"><font style="letter-spacing:0.2pt;">Trust Account </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8ATC">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8ATC">A-43</a></font> <a href="#t8ATC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8AOI"><font style="letter-spacing:0.2pt;">8.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8AOI"><font style="letter-spacing:0.2pt;">Directors&#8217; and Officers&#8217; Indemnification and Insurance </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8AOI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8AOI">A-43</a></font> <a href="#t8AOI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8ODO"><font style="letter-spacing:0.2pt;">8.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8ODO"><font style="letter-spacing:0.2pt;">Board of Directors of PubCo </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8ODO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8ODO">A-44</a></font> <a href="#t8ODO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t8ACW"><font style="letter-spacing:0.2pt;">8.9</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t8ACW"><font style="letter-spacing:0.2pt;">Reporting and Compliance with Laws </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t8ACW">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t8ACW">A-44</a></font> <a href="#t8ACW"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAIOT"><font style="letter-spacing:-0.2pt;">ARTICLE IX COVENANTS OF THE COMPANY</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAIOT">A-44</a></font> <a href="#tAIOT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t9AIF"><font style="letter-spacing:0.2pt;">9.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t9AIF"><font style="letter-spacing:0.2pt;">Annual and Interim Financial Statements </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t9AIF">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t9AIF">A-44</a></font> <a href="#t9AIF"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t9SAT"><font style="letter-spacing:0.2pt;">9.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t9SAT"><font style="letter-spacing:0.2pt;">Company Shareholder Approval </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t9SAT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t9SAT">A-44</a></font> <a href="#t9SAT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t9WRT"><font style="letter-spacing:0.2pt;">9.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t9WRT"><font style="letter-spacing:0.2pt;">Restructuring. </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t9WRT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t9WRT">A-44</a></font> <a href="#t9WRT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAXOA"><font style="letter-spacing:-0.2pt;">ARTICLE X COVENANTS OF ALL PARTIES HERETO</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAXOA">A-45</a></font> <a href="#tAXOA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1BEF"><font style="letter-spacing:0.2pt;">10.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1BEF"><font style="letter-spacing:0.2pt;">Reasonable Best Efforts; Further Assurances </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1BEF">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1BEF">A-45</a></font> <a href="#t1BEF"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t10MA"><font style="letter-spacing:0.2pt;">10.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t10MA"><font style="letter-spacing:0.2pt;">Tax Matters </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t10MA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t10MA">A-45</a></font> <a href="#t10MA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1OTS"><font style="letter-spacing:0.2pt;">10.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1OTS"><font style="letter-spacing:0.2pt;">Settlement of the SPAC Parties&#8217; Liabilities </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1OTS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1OTS">A-46</a></font> <a href="#t1OTS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1WSA"><font style="letter-spacing:0.2pt;">10.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1WSA"><font style="letter-spacing:0.2pt;">Compliance with SPAC Agreements </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1WSA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1WSA">A-46</a></font> <a href="#t1WSA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1EAN"><font style="letter-spacing:0.2pt;">10.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1EAN"><font style="letter-spacing:0.2pt;">Confidentiality </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1EAN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1EAN">A-46</a></font> <a href="#t1EAN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAXTC"><font style="letter-spacing:-0.2pt;">ARTICLE XI CONDITIONS TO CLOSING</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAXTC">A-46</a></font> <a href="#tAXTC"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1TTO"><font style="letter-spacing:0.2pt;">11.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1TTO"><font style="letter-spacing:0.2pt;">Condition to the Obligations of the Parties </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1TTO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1TTO">A-46</a></font> <a href="#t1TTO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1CTO"><font style="letter-spacing:0.2pt;">11.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1CTO"><font style="letter-spacing:0.2pt;">Additional Conditions to Obligations of SPAC Parties </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1CTO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1CTO">A-47</a></font> <a href="#t1CTO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1CTO1"><font style="letter-spacing:0.2pt;">11.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1CTO1"><font style="letter-spacing:0.2pt;">Additional Conditions to Obligations of the Company </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1CTO1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1CTO1">A-48</a></font> <a href="#t1CTO1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1OCN"><font style="letter-spacing:0.2pt;">11.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1OCN"><font style="letter-spacing:0.2pt;">Frustration of Conditions </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1OCN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1OCN">A-48</a></font> <a href="#t1OCN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tAXR"><font style="letter-spacing:-0.2pt;">ARTICLE XII DISPUTE RESOLUTION</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tAXR">A-48</a></font> <a href="#tAXR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t121"><font style="letter-spacing:0.2pt;">12.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t121"><font style="letter-spacing:0.2pt;">Jurisdiction </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t121">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t121">A-48</a></font> <a href="#t121"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1OJT"><font style="letter-spacing:0.2pt;">12.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1OJT"><font style="letter-spacing:0.2pt;">Waiver of Jury Trial; No Exemplary Damages </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1OJT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1OJT">A-48</a></font> <a href="#t1OJT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tARXI"><font style="letter-spacing:-0.2pt;">ARTICLE XIII TERMINATION</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tARXI">A-49</a></font> <a href="#tARXI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1TAM"><font style="letter-spacing:0.2pt;">13.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1TAM"><font style="letter-spacing:0.2pt;">Termination </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1TAM">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1TAM">A-49</a></font> <a href="#t1TAM"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1OTI"><font style="letter-spacing:0.2pt;">13.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1OTI"><font style="letter-spacing:0.2pt;">Effect of Termination </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1OTI">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1OTI">A-50</a></font> <a href="#t1OTI"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-iii</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC3">TABLE OF CONTENTS</a><a name="TOC7">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:347.5pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:278.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:422.96pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Page </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:422.96pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tARXI1"><font style="letter-spacing:-0.2pt;">ARTICLE XIV MISCELLANEOUS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tARXI1">A-50</a></font> <a href="#tARXI1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1ANH"><font style="letter-spacing:0.2pt;">14.1</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1ANH"><font style="letter-spacing:0.2pt;">Notices </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1ANH">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1ANH">A-50</a></font> <a href="#t1ANH"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1NWR"><font style="letter-spacing:0.2pt;">14.2</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1NWR"><font style="letter-spacing:0.2pt;">Amendments; No Waivers; Remedies </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1NWR">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1NWR">A-51</a></font> <a href="#t1NWR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1LBN"><font style="letter-spacing:0.2pt;">14.3</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1LBN"><font style="letter-spacing:0.2pt;">Arm&#8217;s Length Bargaining; No Presumption Against Drafter </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1LBN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1LBN">A-51</a></font> <a href="#t1LBN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1EAR"><font style="letter-spacing:0.2pt;">14.4</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1EAR"><font style="letter-spacing:0.2pt;">Publicity </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1EAR">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1EAR">A-51</a></font> <a href="#t1EAR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1EPS"><font style="letter-spacing:0.2pt;">14.5</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1EPS"><font style="letter-spacing:0.2pt;">Expenses </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1EPS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1EPS">A-52</a></font> <a href="#t1EPS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1AOD"><font style="letter-spacing:0.2pt;">14.6</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1AOD"><font style="letter-spacing:0.2pt;">No Assignment or Delegation </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1AOD">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1AOD">A-52</a></font> <a href="#t1AOD"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1GOLA"><font style="letter-spacing:0.2pt;">14.7</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1GOLA"><font style="letter-spacing:0.2pt;">Governing Law </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1GOLA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1GOLA">A-52</a></font> <a href="#t1GOLA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1TAM1"><font style="letter-spacing:0.2pt;">14.8</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1TAM1"><font style="letter-spacing:0.2pt;">Counterparts </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1TAM1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1TAM1">A-52</a></font> <a href="#t1TAM1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1ATA"><font style="letter-spacing:0.2pt;">14.9</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1ATA"><font style="letter-spacing:0.2pt;">Entire Agreement </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1ATA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1ATA">A-52</a></font> <a href="#t1ATA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1ADB"><font style="letter-spacing:0.2pt;">14.10</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1ADB"><font style="letter-spacing:0.2pt;">Severability </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1ADB">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1ADB">A-52</a></font> <a href="#t1ADB"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1OCT"><font style="letter-spacing:0.2pt;">14.11</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1OCT"><font style="letter-spacing:0.2pt;">Construction of Certain Terms and References; Captions </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1OCT">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1OCT">A-52</a></font> <a href="#t1OCT"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1AEP"><font style="letter-spacing:0.2pt;">14.12</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1AEP"><font style="letter-spacing:0.2pt;">Further Assurances </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1AEP">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1AEP">A-53</a></font> <a href="#t1AEP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1PBN"><font style="letter-spacing:0.2pt;">14.13</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1PBN"><font style="letter-spacing:0.2pt;">Third Party Beneficiaries </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1PBN">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1PBN">A-53</a></font> <a href="#t1PBN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1ORW"><font style="letter-spacing:0.2pt;">14.14</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1ORW"><font style="letter-spacing:0.2pt;">Non-survival of Representations, Warranties and Covenants </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1ORW">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1ORW">A-53</a></font> <a href="#t1ORW"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1RIM"><font style="letter-spacing:0.2pt;">14.15</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1RIM"><font style="letter-spacing:0.2pt;">Waiver </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1RIM">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1RIM">A-53</a></font> <a href="#t1RIM"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t141"><font style="letter-spacing:0.2pt;">14.16</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t141"><font style="letter-spacing:0.2pt;">Enforcement </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t141">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t141">A-53</a></font> <a href="#t141"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:422.96pt;white-space:normal;text-align:left;">
              <div style=" float:left; margin-left:10pt; line-height:10pt; text-align:left; width:35pt;white-space:nowrap;">
                <a href="#t1TAM2"><font style="letter-spacing:0.2pt;">14.17</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:45pt;">
                <a href="#t1TAM2"><font style="letter-spacing:0.2pt;">Non-Recourse </font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#t1TAM2">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:18pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#t1TAM2">A-54</a></font>
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          <font style="letter-spacing:0.2pt;">A-iv</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="tARID">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">This AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER (this &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Agreement</font><font style="letter-spacing:0.2pt;">&#8221;), dated as of December&#160;15, 2021, by and among (i)&#160;Bitdeer Technologies Holding Company, an exempted company with limited liability incorporated under the laws of the Cayman Islands (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;), (ii)&#160;Blue Safari Group Acquisition Corp., a British Virgin Islands business company (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC</font><font style="letter-spacing:0.2pt;">&#8221;), (iii)&#160;Bitdeer Technologies Group, an exempted company with limited liability incorporated under the laws of the Cayman Islands (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PubCo</font><font style="letter-spacing:0.2pt;">&#8221;), (iv)&#160;Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of PubCo (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 1</font><font style="letter-spacing:0.2pt;">&#8221;), (v)&#160;Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of PubCo (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 2</font><font style="letter-spacing:0.2pt;">&#8221;), (vi)&#160;Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of PubCo (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 3</font><font style="letter-spacing:0.2pt;">&#8221;), and (vii)&#160;Blue Safari Mini Corp., an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of SPAC (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Sub</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="letter-spacing:-0.2pt;">W I T N E S S E T H :</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">A.&nbsp;&nbsp;&nbsp;The Company, through its wholly owned or Controlled (as defined below) subsidiaries, is engaged in cryptocurrency mining related businesses. </font>
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          <font style="letter-spacing:0.2pt;">B.&nbsp;&nbsp;&nbsp;SPAC is a blank check company known as a special purpose acquisition company, formed for the sole purpose of entering into a share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. </font>
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          <font style="letter-spacing:0.2pt;">C.&nbsp;&nbsp;&nbsp;PubCo is a newly formed Cayman Islands company, formed for the purpose of making acquisitions and investments, with the objective of acting as the publicly traded holding company for its investee entities. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">D.&nbsp;&nbsp;&nbsp;Merger Sub 1 is a newly formed British Virgin Islands business company, wholly owned by PubCo and formed for the purpose of effectuating the First SPAC Merger (as defined below). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">E.&nbsp;&nbsp;&nbsp;Merger Sub 2 is a newly formed British Virgin Islands business company, wholly owned by PubCo and formed for the purpose of effectuating the Second SPAC Merger (as defined below). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">F.&nbsp;&nbsp;&nbsp;Merger Sub 3 is a newly formed Cayman Islands company, wholly owned by PubCo and formed for the purpose of effectuating the Acquisition Merger (as defined below). </font>
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          <font style="letter-spacing:0.2pt;">G.&nbsp;&nbsp;&nbsp;SPAC, SPAC Sub and the Company have entered into an agreement and plan of merger, dated November&#160;18, 2021 (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Original Merger Agreement</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">H.&nbsp;&nbsp;&nbsp;The parties hereto desire and intend to amend and restate the Original Merger Agreement to effect a change in structure of the business combination without affecting any underlying economic interests, whereby (a)&#160;SPAC will merge with and into Merger Sub 1, with SPAC being the surviving entity (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">First SPAC Merger</font><font style="letter-spacing:0.2pt;">&#8221;), (b)&#160;immediately following the First SPAC Merger SPAC will merge with and into Merger Sub 2, with Merger Sub 2 being the surviving entity (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Second SPAC Merger</font><font style="letter-spacing:0.2pt;">&#8221;, and together with the First SPAC Merger, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial Mergers</font><font style="letter-spacing:0.2pt;">&#8221;), and (c)&#160;following the Initial Mergers, Merger Sub 3 will merge with and into the Company (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Acquisition Merger</font><font style="letter-spacing:0.2pt;">&#8221; and together with the Initial Mergers, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Mergers</font><font style="letter-spacing:0.2pt;">&#8221;), with the Company being the surviving entity and becoming a wholly owned subsidiary of PubCo, each Merger to occur upon the terms and subject to the conditions set forth in this Agreement and in accordance with the applicable provisions of the BVI Business Companies Act, 2004 (As Amended) (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">BVI Companies Act</font><font style="letter-spacing:0.2pt;">&#8221;) or the Companies Act (As Revised) of the Cayman Islands (the &#8220;Cayman Companies Act&#8221;), as applicable. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">NOW, THEREFORE,</font><font style="letter-spacing:0.2pt;"> in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and the representations, warranties, covenants and agreements contained in this Agreement, and intending to be legally bound hereby, the parties accordingly agree as follows: </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE I</font>
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          <font style="letter-spacing:-0.2pt;">DEFINITIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">1.1&nbsp;&nbsp;&nbsp;The following terms, as used herein, have the following meanings: </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Acquisition Entity</font><font style="letter-spacing:0.2pt;">&#8221; means each of PubCo, Merger Sub 1, Merger Sub 2 and Merger Sub 3. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Action</font><font style="letter-spacing:0.2pt;">&#8221; means any action, suit, arbitration, claim, investigation, hearing or legal, judicial or administrative proceeding, including any audit, claim or assessment for Taxes or otherwise. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Additional Agreements</font><font style="letter-spacing:0.2pt;">&#8221; mean the Lock-up Agreements and Voting and Support Agreement. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Affiliate</font><font style="letter-spacing:0.2pt;">&#8221; means, with respect to any specified Person, any other Person that directly or indirectly Controls, is Controlled by, or is under common Control with such specified Person. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Anti-Corruption Laws</font><font style="letter-spacing:0.2pt;">&#8221; means any Laws relating to anti-bribery or anticorruption (governmental or commercial), which apply to the business and dealings of the Company Group, including Laws that prohibit the corrupt payment, offer, promise or authorization of the payment or transfer of anything of value (including gifts or entertainment), directly or indirectly, to any Government Official, government employee or commercial entity to obtain or retain business or a business advantage such as, without limitation, the U.S. Foreign Corrupt Practices Act of 1977 and the United Kingdom Bribery Act 2010, each as amended from time to time, and all applicable Laws enacted to implement the OECD Convention on Combating Bribery of Foreign Officials in International Business Transactions. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Authority</font><font style="letter-spacing:0.2pt;">&#8221; means any governmental, regulatory or administrative body, agency or authority, any court or judicial authority, any arbitrator, any relevant stock exchange, or any public, private or industry regulatory authority, whether international, national, federal, state, or local. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Books and Records</font><font style="letter-spacing:0.2pt;">&#8221; means the financial books and records (whether written, electronic, or otherwise embodied) in which a Person&#8217;s assets, the business or its transactions are otherwise reflected, other than registers of members, stock books and minute books. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Business Day</font><font style="letter-spacing:0.2pt;">&#8221; means any day other than a Saturday, Sunday or other day on which commercial banks in New York, the Cayman Islands or the British Virgin Islands are authorized or required by applicable Law to close. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Code</font><font style="letter-spacing:0.2pt;">&#8221; means the Internal Revenue Code of 1986, as amended. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Class</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means Class&#160;A ordinary shares of the Company, par value US$0.0000001 per share. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Class</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">B Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means Class&#160;B ordinary shares of the Company, par value US$0.0000001 per share. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Convertible Notes</font><font style="letter-spacing:0.2pt;">&#8221; means the convertible note issued by the Company that is convertible into the Company Class&#160;A Shares as disclosed in Section&#160;5.5(c) of the Company Disclosure Schedule. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Disclosure Schedule</font><font style="letter-spacing:0.2pt;">&#8221; means the disclosure schedule delivered by the Company to SPAC and the Acquisition Entities concurrently with the signing of this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Group</font><font style="letter-spacing:0.2pt;">&#8221; means the Company and its Subsidiaries, collectively. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means Company Class&#160;A Ordinary Shares and Company Class&#160;B Ordinary Shares. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Plan</font><font style="letter-spacing:0.2pt;">&#8221; means the 2021 Share Incentive Plan adopted by the Company on July&#160;20, 2021, as amended from time to time. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Preferred Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Series&#160;A preferred shares, par value US$0.0000001 per share, of the Company, Series&#160;B preferred shares, par value US$0.0000001 per share, of the Company and Series&#160;B+ preferred shares, par value US$0.0000001 per share, of the Company. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company RSUs</font><font style="letter-spacing:0.2pt;">&#8221; means the restricted share&#160;units to acquire Company Shares issued pursuant to an award granted under the Company Plan. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Shareholder</font><font style="letter-spacing:0.2pt;">&#8221; means any shareholder of the Company. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Company Ordinary Shares and Company Preferred Shares. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Total Shares</font><font style="letter-spacing:0.2pt;">&#8221; means, as of immediately prior to the Acquisition Merger Effective Time, the sum of (i)&#160;the number of issued and outstanding Company Shares (on an as-converted basis), (ii)&#160;the aggregate number of Company Shares (on an as-converted basis) issuable upon the settlement of all vested Company RSUs as of immediately prior to the Acquisition Merger Effective Time (including after giving effect to the consummation of the Acquisition Merger or any acceleration of any unvested Company RSUs in connection with the consummation of the Acquisition Merger) and (iii)&#160;the aggregate number of Company Shares (on an as-converted basis) issuable upon conversion of the Company Convertible Note. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Contracts</font><font style="letter-spacing:0.2pt;">&#8221; means all contracts, agreements, leases (including equipment leases, car leases and capital leases), licenses, commitments, client contracts, statements of work (SOWs), sales and purchase orders and similar instruments, oral or written. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Deferred Underwriting Amount</font><font style="letter-spacing:0.2pt;">&#8221; means the portion of the underwriting discounts and commissions held in the Trust Account, which the underwriters of the IPO are entitled to receive upon the Acquisition Closing in accordance with the Underwriting Agreement, which amount is held in escrow pursuant to the Investment Management Trust Agreement. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Environmental Laws</font><font style="letter-spacing:0.2pt;">&#8221; shall mean all applicable Laws relating to pollution, human health and safety or protection of the environment (including natural resources), or prohibition, regulation or control of any Hazardous Material or any Hazardous Material Activity, including, without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, the Resource Recovery and Conservation Act of 1976, the Federal Water Pollution Control Act, the Clean Air Act, the Hazardous Materials Transportation Act and the Clean Water Act. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Hazardous Material</font><font style="letter-spacing:0.2pt;">&#8221; shall mean any material, emission, chemical, substance or waste that has been designated or regulated as radioactive, toxic, hazardous, or as a pollutant or a contaminant (or words of similar intent or meaning) by any Authority or under applicable Laws. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">IPO</font><font style="letter-spacing:0.2pt;">&#8221; means the initial public offering of SPAC pursuant to a prospectus dated June&#160;9, 2021. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-3</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Indebtedness</font><font style="letter-spacing:0.2pt;">&#8221; means with respect to any Person, (a)&#160;all obligations of such Person for borrowed money, or with respect to deposits or advances of any kind (including amounts by reason of overdrafts and amounts owed by reason of letter of credit reimbursement agreements) including with respect thereto, all interests, fees and costs and prepayment and other penalties, (b)&#160;all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c)&#160;all obligations of such Person under conditional sale or other title retention agreements relating to property purchased by such Person, (d)&#160;all obligations of such Person issued or assumed as the deferred purchase price of property or services (other than accounts payable to creditors for goods and services incurred in the ordinary course of business), (e)&#160;all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien or security interest on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (f)&#160;all obligations of such Person under leases required to be accounted for as capital leases under U.S. GAAP or IFRS (as applicable to such Person), (g)&#160;all guarantees by such Person and (h)&#160;any agreement to incur any of the same. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Intellectual Property Right</font><font style="letter-spacing:0.2pt;">&#8221; means any trademark, service mark, registration thereof or application for registration therefor, trade name, license, domain names, invention, patent, patent application, trade secret, trade dress, know-how, copyright, copyrightable materials, copyright registration, application for copyright registration, software programs, data bases, u.r.l.s., trade secrets, know-how, invention rights, rights of privacy and publicity, and any other type of proprietary intellectual property right, and all embodiments and fixations thereof and related documentation, registrations and franchises and all renewals, extensions, additions, improvements and accessions thereto and all allied, ancillary and subsidiary rights relating thereto; and with respect to each of the forgoing items in this definition, which is owned, licensed, filed, used by or proprietary to the Company Group, or used or held for use in the business operated by the Company Group, whether registered or unregistered, or domestic or foreign, and whether computer generated or otherwise. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Investment Management Trust Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the investment management trust agreement, dated as of June&#160;9, 2021, by and between SPAC and the Trustee. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Key Executive</font><font style="letter-spacing:0.2pt;">&#8221; means the founder of the Company, Wu Jihan, or the entity Controlled by him, namely Victory Courage Limited. </font>
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Key Executive Shares</font><font style="letter-spacing:0.2pt;">&#8221; means, without duplication, the Company Shares held by a Key Executive immediately prior to the Acquisition Merger Effective Time. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Law</font><font style="letter-spacing:0.2pt;">&#8221; means any domestic, international or foreign, federal, state, municipality or local law, statute, ordinance, code, principle of common law, act, treaty or order of any Authority, including rule or regulation promulgated thereunder. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Lease</font><font style="letter-spacing:0.2pt;">&#8221; means any and all leases, subleases, licenses, concessions, sale/leaseback arrangements or similar arrangements and other occupancy agreements pursuant to which the Company Group holds any Leased Real Property, including the right to all security deposits and other amounts and instruments deposited by or on behalf of the Company Group thereunder. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Liabilities</font><font style="letter-spacing:0.2pt;">&#8221; means any and all liabilities, Indebtedness, claims, or obligations of any nature (whether absolute, accrued, contingent or otherwise, whether known or unknown, whether direct or indirect, whether matured or unmatured and whether due or to become due), including Tax Liabilities due or to become due. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Lien</font><font style="letter-spacing:0.2pt;">&#8221; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, and any conditional sale or voting agreement or proxy, including any agreement to give any of the foregoing. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Lock-up Agreements</font><font style="letter-spacing:0.2pt;">&#8221; means the agreements in the form attached as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exhibit&#160;A</font><font style="letter-spacing:0.2pt;"> or agreement(s) substantially equivalent thereto mutually agreed by SPAC and the Company, dated as of the Closing Date and entered into by and between PubCo and certain shareholders of the Company, which shall include holders of </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-4</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">at least 95% of the outstanding Company Shares immediately prior to the Acquisition Closing (on an as converted and fully-diluted basis). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Material Adverse Effect</font><font style="letter-spacing:0.2pt;">&#8221; means any fact, event, circumstance, change, condition, occurrence or effect that, individually or in the aggregate with all other facts, events, circumstances, changes, conditions, occurrences and effects, is or would reasonably be expected to (a)&#160;have a material adverse effect on the assets, liabilities, condition (financial or otherwise), prospects, net worth, management, earnings, cash flows, business, operations or properties of the Company Group, whether or not arising from transactions in the ordinary course of business or (b)&#160;prevent or materially delay the consummation by the Company of the transactions contemplated by this Agreement; provided, however, that in no event shall any of the following, alone or in combination, be taken into account in determining whether a Material Adverse Effect has occurred or would reasonably be expected to occur: (i)&#160;general economic or political conditions; (ii)&#160;conditions generally affecting the industries in which the Company operates; (iii)&#160;any changes in financial, banking or securities markets in general, including any disruption thereof and any change in the price of any security, Bitcoin or other cryptocurrency, currency, market index or prevailing interest rates; (iv)&#160;acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening thereof; (v)&#160;any action required or permitted by this Agreement or any action taken or not to take with the written consent of or at the written request of SPAC, provided that this clause (v)&#160;shall not apply to any representation or warranty set forth in Section&#160;5.4 and, to the extent related thereto, the condition in Section&#160;11.2(b); (vi)&#160;any changes in applicable Laws or accounting rules (including U.S. GAAP, IFRS or other applicable accounting principles) or the enforcement, implementation or interpretation thereof; (vii)&#160;the announcement, pendency or completion of the transactions contemplated by this Agreement, including losses or threatened losses of employees, provided that this clause (vii)&#160;shall not apply to any representation or warranty set forth in Section&#160;5.4 and, to the extent related thereto, the condition in Section&#160;11.2(b); (viii)&#160;any natural or man-made disaster or acts of God; and (ix)&#160;any failure in and of itself of the Company and any of its Subsidiaries to meet any projections, forecasts, or budgets (provided, that clause (ix)&#160;shall not prevent a determination that any change or event not otherwise excluded from this definition of Material Adverse Effect underlying such failure to meet projections, forecasts or budgets has resulted in a Material Adverse Effect); except in the cases of clauses (i), (ii), (iii), (iv), (vi)&#160;or (viii), such facts, events, circumstances, conditions, occurrences and effects may be taken into account if the Company Group is disproportionately affected thereby as compared with other participants in the same industries or markets in which the Company Group operates. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Order</font><font style="letter-spacing:0.2pt;">&#8221; means any decree, order, judgment, writ, award, injunction, rule, determination or consent of or by an Authority. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Owned Real Property</font><font style="letter-spacing:0.2pt;">&#8221; means all land, buildings, structures and improvements owned by any member of the Company Group. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Per Share Equity Value</font><font style="letter-spacing:0.2pt;">&#8221; means the quotient obtained by dividing (i)&#160;US$4,000,000,000 by (ii)&#160;the Company Total Shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Per Share Merger Consideration</font><font style="letter-spacing:0.2pt;">&#8221; means, (i)&#160;with respect to any Company Share (other than the Key Executive Shares) that is issued and outstanding immediately prior to the Acquisition Merger Effective Time, a number of PubCo Class&#160;A Ordinary Shares equal to the Exchange Ratio, or (ii)&#160;with respect to any Key Executive Share that is issued and outstanding immediately prior to the Acquisition Merger Effective Time, a number of PubCo Class&#160;V Ordinary Shares equal to the Exchange Ratio. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Permitted Liens</font><font style="letter-spacing:0.2pt;">&#8221; means (i)&#160;mechanics&#8217;, carriers&#8217;, workers&#8217;, repairers&#8217; and similar statutory Liens arising or incurred in the ordinary course of business for amounts (A)&#160;that are not delinquent, (B)&#160;that are not material to the business, operations and financial condition of the Company and/or any of its Subsidiaries so encumbered, either individually or in the aggregate, (C)&#160;that not resulting from a breach, default or violation by the Company and/or any of its Subsidiaries of any Contract or Law; and (ii)&#160;liens for Taxes not yet due and payable or which are being contested in good faith by appropriate proceedings (and for which adequate accruals or reserves have been established in accordance to U.S. GAAP or IFRS). </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">A-5</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Person</font><font style="letter-spacing:0.2pt;">&#8221; means an individual, corporation, partnership (including a general partnership, limited partnership or limited liability partnership), limited liability company, association, trust or other entity or organization, including a government, domestic or foreign, or political subdivision thereof, or an agency or instrumentality thereof. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Pre-Closing Period</font><font style="letter-spacing:0.2pt;">&#8221; means any period that ends on or before the Closing Date or with respect to a period that includes but does not end on the Closing Date, the portion of such period through but excluding the Closing Date. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PubCo Class&#160;A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Class&#160;A ordinary shares of PubCo, par value US$0.0000001 per share. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PubCo Class&#160;V Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the Class&#160;V ordinary shares of PubCo, par value US$0.0000001 per share. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PubCo Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the PubCo Class&#160;A Ordinary Shares and the PubCo Class&#160;V Ordinary Shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Real Property</font><font style="letter-spacing:0.2pt;">&#8221; means, collectively, all real properties and interests therein (including the right to use), together with all buildings, fixtures, trade fixtures, plant and other improvements located thereon or attached thereto; all rights arising out of use thereof (including air, water, oil and mineral rights); and all subleases, franchises, licenses, permits, easements and rights-of-way which are appurtenant thereto. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Registration Statement</font><font style="letter-spacing:0.2pt;">&#8221; means the Registration Statement on Form S-4 or Form F-4, or other appropriate form determined by the parties hereto, including any pre-effective or post-effective amendments or supplements thereto, to be filed with the SEC by PubCo under the Securities Act with respect to PubCo Ordinary Shares to be issued in connection with the transactions contemplated by this Agreement. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SEC</font><font style="letter-spacing:0.2pt;">&#8221; means the Securities and Exchange Commission. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Securities Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Securities Act of 1933, as amended. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Class&#160;A Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the class A ordinary shares, no par value, of SPAC. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Class&#160;B Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the class B ordinary shares, no par value, of SPAC. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221; means the SPAC Class&#160;A Ordinary Shares and the SPAC Class&#160;B Ordinary Shares. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Parties</font><font style="letter-spacing:0.2pt;">&#8221; means SPAC and SPAC Sub. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Rights</font><font style="letter-spacing:0.2pt;">&#8221; means the issued and outstanding rights of SPAC, each such right convertible into one-tenth (1/10) of a SPAC Class&#160;A Ordinary Share at the closing of a business combination. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Shareholder</font><font style="letter-spacing:0.2pt;">&#8221; means any shareholder of SPAC. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Unit</font><font style="letter-spacing:0.2pt;">&#8221; means a unit of SPAC issued in the IPO or upon the exercise of the underwriters&#8217; overallotment option comprised of one SPAC Class&#160;A Ordinary Share and one SPAC Right. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Sponsor</font><font style="letter-spacing:0.2pt;">&#8221; means BSG First Euro Investment Corp., a British Virgin Islands business company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Subsidiary</font><font style="letter-spacing:0.2pt;">&#8221; means, with respect to any specified Person, any other Person (a)&#160;of which such specified Person or any other Subsidiary of such specified Person is a general or managing partner, (b)&#160;of which at least a majority of the securities (or other interests having by their terms ordinary voting power to elect a majority of the board of directors or other performing similar functions with respect to such corporation or other organization) is, directly or indirectly, owned or controlled by such specified Person or by any one or more of its Subsidiaries, (c)&#160;of which at least a majority of the economic interests is, directly or indirectly, owned or controlled by such specified Person or by any one or more of its Subsidiaries, including interests held through a variable-interest-entity structure or other similar contractual arrangements, or (d)&#160;whose assets and financial results are consolidated with the net earnings of such specified Person and are recorded on the books of such specified Person for financial reporting purposes in accordance with U.S. GAAP. </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Tangible Personal Property</font><font style="letter-spacing:0.2pt;">&#8221; means all tangible personal property and interests therein, including machinery, computers and accessories, furniture, office equipment, communications equipment, automobiles, trucks, forklifts and other vehicles owned or leased by the Company and other tangible property. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Tax</font><font style="letter-spacing:0.2pt;">&#8221; means any federal, state, local or foreign tax, charge, fee, levy, custom, duty, deficiency, or other assessment of any kind or nature including any income (net or gross), gross receipts, profits, windfall profit, sales, use, goods and services, ad valorem, franchise, license, withholding, employment, social security, workers compensation, unemployment compensation, employment, payroll, transfer, excise, import, real property, personal property, intangible property, occupancy, recording, minimum, alternative minimum, environmental or estimated tax, including any liability therefor as a transferee or successor, as a result of Treasury Regulations&#160;Section&#160;1.1502-6 or similar provision of applicable Law or as a result of any Tax sharing, indemnification or similar agreement, together with any interest, penalty, additions to tax or additional amount imposed with respect thereto. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Tax Return</font><font style="letter-spacing:0.2pt;">&#8221; means any return, information return, declaration, claim for refund or credit, report or any similar statement, and any amendment thereto, including any attached schedule and supporting information, whether on a separate, consolidated, combined, unitary or other basis, that is filed or required to be filed with any Taxing Authority in connection with the determination, assessment, collection or payment of a Tax or the administration of any Law relating to any Tax. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Taxing Authority</font><font style="letter-spacing:0.2pt;">&#8221; means the Internal Revenue Service and any other Authority responsible for the collection, assessment or imposition of any Tax or the administration of any Law relating to any Tax. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Trustee</font><font style="letter-spacing:0.2pt;">&#8221; means Continental Stock Transfer &amp; Trust Company, LLC. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Underwriting Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the underwriting agreement dated June&#160;9, 2021 between SPAC and Maxim Group LLC. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">U.S. GAAP</font><font style="letter-spacing:0.2pt;">&#8221; means U.S. generally accepted accounting principles, consistently applied. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Voting and Support Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the voting and support agreement, dated as of the date hereof, by and among SPAC, the Company and certain shareholders of the Company, pursuant to which such shareholders have agreed to vote their respective Company Ordinary Shares in favor of the Company Shareholder Approval. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">$</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">US$</font><font style="letter-spacing:0.2pt;">&#8221; means U.S. dollars, the legal currency of the United States. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">1.2&nbsp;&nbsp;&nbsp;The following terms have the meanings set forth in the Sections set forth below: </font>
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          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Defined Term </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Section </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">2021 Equity Incentive Plan of PubCo </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.5(ii) </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Acquisition Merger </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">Acquisition Merger Effective Time </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.2 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">ADS </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.8 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">ADS Registration Statement </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.8 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Agreement </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Alternative Transaction </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">8.1(d) </font>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Amended PubCo Charter </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.5(ii) </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Anti-Money Laundering Laws </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.32 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Assumed RSU </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.3(c)(i) </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Balance Sheet Date </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">5.10(a) </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Bankruptcy and Equity Exception </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.2 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Cayman Companies Act </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Acquisition Closing </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">2.2 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Closings </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.2 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-7</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:653.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Defined Term </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Section </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Closing Date </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.2 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Company </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Company Balance Sheet </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.10(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Company Closing Statement </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.4(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Company Dissenting Shareholders </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.3(e) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Company Dissenting Shares </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.3(e) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Company Shareholder Approval </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.2 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Computer Systems </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.18(g) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">D&amp;O Indemnified Persons </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.7(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">D&amp;O Tail Insurance </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.7(b) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Financial Statements </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.10(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">First SPAC Merger </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Initial Mergers </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Intended Tax Treatment </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.7 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Key Personnel </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.22(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Labor Agreements </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.23(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Material Contract </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.15(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub 1 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub 1 Share </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">7.7(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub 2 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub 2 Share </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">7.7(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub 3 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub 3 Share </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">7.7(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Merger Sub Ordinary Shares </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">6.6(b) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Outside Closing Date </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">13.1(b) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Permits </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.16 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Personal Information </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.17(b) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Plan of Acquisition Merger </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.2 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">PRC </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">9.3 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">PRC Entities </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">9.3 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Prospectus </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">14.15 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Proxy Statement </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.5(i) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">PubCo Share </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">7.7(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Required SPAC Shareholder Approval </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">11.1(e) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Restructuring </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">9.3 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Sanctions </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">5.32 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Second SPAC Merger </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC Dissenting Shareholders </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.1(e) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC Dissenting Shares </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.1(e) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC SEC Documents </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">6.11(a) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC Shareholder Approval Matters </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.5(ii) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC Special Meeting </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">8.5(i) </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-8</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="tAIM">&#8203;</a><a name="t2MUT">&#8203;</a><a name="t2CIM">&#8203;</a><a name="t2OTF">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:68.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Defined Term </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:222pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Section </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">SPAC Sub </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Preamble </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Surviving Company </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">3.1 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Transfer Taxes </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">4.7 </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Trust Account </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">6.7</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:19.8pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE II</font>
          <br >
          <font style="letter-spacing:-0.2pt;">INITIAL MERGERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">2.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial Mergers</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Upon the terms and subject to the conditions set forth in this Agreement and in accordance with the applicable provisions of BVI Companies Act, at the First SPAC Merger Effective Time, SPAC shall be merged with and into Merger Sub 1. Following the First SPAC Merger, the separate corporate existence of Merger Sub 1 shall cease and SPAC shall continue as the surviving company (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial SPAC Surviving Sub</font><font style="letter-spacing:0.2pt;">&#8221;) in the First SPAC Merger under the Laws of the British Virgin Islands. Immediately following the First SPAC Merger Effective Time, Initial SPAC Surviving Sub shall be merged with and into Merger Sub 2. Following the Second SPAC Merger Effective Time, the separate corporate existence of Initial SPAC Surviving Sub shall cease and Merger Sub 2 shall continue as the surviving company (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Subsequent SPAC Surviving Sub</font><font style="letter-spacing:0.2pt;">&#8221;) in the Second SPAC Merger under the Laws of the British Virgin Islands as a wholly owned subsidiary of PubCo. </font>
        </div>
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          <font style="letter-spacing:0.2pt;">2.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial Closings; Initial Mergers Effective Time</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Unless this Agreement is earlier terminated in accordance with Article&#160;XIII, the closing of the First SPAC Merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">First Closing</font><font style="letter-spacing:0.2pt;">&#8221;) shall take place at the offices of Davis Polk &amp; Wardwell LLP, 450 Lexington Avenue, New York, New York at 9:00&#160;a.m. New York time and Cayman Islands time (10:00&#160;a.m. BVI time) on a date no later than three (3)&#160;Business Days after the satisfaction or (if permissible) waiver of all the conditions set forth in Article&#160;XI (other than those conditions that by their nature are to be satisfied at the First Closing, but subject to the satisfaction or, if permissible, waiver of those conditions), or at such other place and time as the Company and SPAC may mutually agree upon in writing. The closing of the Second SPAC Merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Second Closing</font><font style="letter-spacing:0.2pt;">&#8221;, and together with the First Closing, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial Closings</font><font style="letter-spacing:0.2pt;">&#8221;) shall immediately follow the First Closing (and, for the avoidance of doubt, shall be on the same date as the First Closing). The parties may participate in the Initial Closings via electronic means by the mutual exchange of electronic signatures (including portable document format (.PDF) and Verisign). The date on which the Initial Closings occur is hereinafter referred to as the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial Closing Date</font><font style="letter-spacing:0.2pt;">&#8221;. Subject to the provisions of this Agreement, at the Initial Closings, (i)&#160;SPAC and Merger Sub 1 shall execute a plan of merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">First Plan of Merger</font><font style="letter-spacing:0.2pt;">&#8221;) substantially in the form set out in </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exhibit&#160;B-1</font><font style="letter-spacing:0.2pt;"> attached hereto and an articles of merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">First Articles of Merger</font><font style="letter-spacing:0.2pt;">&#8221;) and the parties hereto shall cause the First SPAC Merger to be consummated by filing First Articles of Merger (appending the First Plan of Merger) (and other documents required by BVI Companies Act) with the Registrar of Corporate Affairs of the British Virgin Islands in accordance with the relevant provisions of BVI Companies Act (the time as agreed in writing by the Company and SPAC and specified in the First Articles of Merger, being the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">First SPAC Merger Effective Time</font><font style="letter-spacing:0.2pt;">&#8221;) and (ii)&#160;after the filing of the First Articles of Merger, Initial SPAC Surviving Sub and Merger Sub 2 shall execute a plan of merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Second Plan of Merger</font><font style="letter-spacing:0.2pt;">&#8221;) substantially in the form set out in </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exhibit&#160;B-2</font><font style="letter-spacing:0.2pt;"> attached hereto and an articles of merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Second Articles of Merger</font><font style="letter-spacing:0.2pt;">&#8221;) and the parties hereto shall cause the Second SPAC Merger to be consummated by filing the Second Articles of Merger (appending the Second Plan of Merger) (and other documents required by BVI Companies Act) with the Registrar of Corporate Affairs of the British Virgin Islands in accordance with the relevant provisions of BVI Companies Act (the time as agreed in writing by the Company and Initial SPAC Surviving Sub and specified in the Second Articles of Merger, being the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Second SPAC Merger Effective Time</font><font style="letter-spacing:0.2pt;">&#8221;; it being understood that the Second SPAC Merger Effective Time and the First SPAC Merger Effective Time shall be on the same day). </font>
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          <font style="letter-spacing:0.2pt;">2.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of the First SPAC Merger</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the First SPAC Merger Effective Time, the effect of the First SPAC Merger shall be as provided in this Agreement, the First Articles of Merger, the First Plan of Merger and the applicable provisions of BVI Companies Act. Without limiting the generality of the foregoing, and subject thereto, at the First SPAC Merger Effective Time, all the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of each of SPAC and Merger Sub 1 shall become the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of Initial SPAC Surviving Sub, which shall include the assumption by Initial SPAC Surviving Sub of any and all </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="t2AAO">&#8203;</a><a name="t2AOO">&#8203;</a><a name="t2OTS">&#8203;</a><a name="t2AAO1">&#8203;</a><a name="t2AOO1">&#8203;</a><a name="t2ONA">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">agreements, covenants, duties and obligations of SPAC and Merger Sub 1 set forth in this Agreement to be performed after the First SPAC Merger Effective Time. </font>
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          <font style="letter-spacing:0.2pt;">2.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Memorandum and Articles of Association of Initial SPAC Surviving Sub</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the First SPAC Merger Effective Time, by virtue of the First SPAC Merger and without any action on the part of SPAC, Merger Sub 1 or any other Person, the memorandum and articles of association of Merger Sub 1, as in effect immediately prior to the First SPAC Merger Effective Time, shall become the memorandum and articles of association of the Initial SPAC Surviving Sub until thereafter amended as provided therein, herein and under the BVI Companies Act, except that the name of the Initial SPAC Surviving Sub reflected therein shall be &#8220;Blue Safari Group Acquisition Corp.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">2.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Directors and Officers of Initial SPAC Surviving Sub</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the First SPAC Merger Effective Time, the board of directors and officers of Merger Sub 1 and SPAC shall cease to hold office, and the board of directors and officers of Initial SPAC Surviving Sub shall be appointed as determined by the Company, each to hold office in accordance with the memorandum and articles of association of the Initial SPAC Surviving Sub then effective or until their respective successors are duly elected or appointed and qualified. </font>
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          <font style="letter-spacing:0.2pt;">2.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of the Second SPAC Merger</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Second SPAC Merger Effective Time, the effect of the Second SPAC Merger shall be as provided in this Agreement, the Second Articles of Merger, the Second Plan of Merger and the applicable provisions of BVI Companies Act. Without limiting the generality of the foregoing, and subject thereto, at the Second SPAC Merger Effective Time, all the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of each of Initial SPAC Surviving Sub and Merger Sub 2 shall become the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of Subsequent SPAC Surviving Sub, which shall include the assumption by Subsequent SPAC Surviving Sub of any and all agreements, covenants, duties and obligations of SPAC and Merger Sub 2 set forth in this Agreement to be performed after the Second SPAC Merger Effective Time. </font>
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          <font style="letter-spacing:0.2pt;">2.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Memorandum and Articles of Association of Subsequent SPAC Surviving Sub</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Second SPAC Merger Effective Time, by virtue of the Second SPAC Merger and without any action on the part of Initial SPAC Surviving Sub, Merger Sub 2 or any other Person, the memorandum and articles of association of Initial SPAC Surviving Sub, as in effect immediately prior to the Second SPAC Merger Effective Time, shall become the memorandum and articles of association of Subsequent SPAC Surviving Sub until thereafter amended as provided therein and under the BVI Companies Act, except that the name of the Subsequent SPAC Surviving Sub reflected therein shall be &#8220;Blue Safari Merge II Limited.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">2.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Directors and Officers of Subsequent SPAC Surviving Sub</font><font style="letter-spacing:0.2pt;"> .&nbsp;&nbsp;&nbsp;At the Second SPAC Merger Effective Time, the board of directors and officers of Merger Sub 2 and Initial SPAC Surviving Sub shall cease to hold office, and the board of directors and officers of Subsequent SPAC Surviving Sub shall be appointed as determined by the Company, each to hold office in accordance with the memorandum and articles of association of Subsequent SPAC Surviving Sub in effect or until their respective successors are duly elected or appointed and qualified. </font>
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          <font style="letter-spacing:0.2pt;">2.9&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Taking of Necessary Action; Further Action</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;If, at any time after the First SPAC Merger, any further action is necessary or desirable to carry out the purposes of this Agreement and to vest Initial SPAC Surviving Sub, as the surviving company in the First SPAC Merger, with full right, title and interest in, to and under, and/or possession of, all assets, property, rights, privileges, powers and franchises of SPAC and Merger Sub 1, the officers and directors of SPAC and Merger Sub 1 are fully authorized in the name of their respective corporations or otherwise to take, and will take, all such lawful and necessary action, so long as such action is not inconsistent with this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;If, at any time after the Second SPAC Merger, any further action is necessary or desirable to carry out the purposes of this Agreement and to vest Subsequent SPAC Surviving Sub, as the surviving company in the Second SPAC Merger, with full right, title and interest in, to and under, and/or possession of, all assets, property, rights, privileges, powers and franchises of Initial SPAC Surviving Sub and Merger Sub 2, the officers and directors of Initial SPAC Surviving Sub and Merger Sub 2 are fully authorized in the name of their respective corporations or otherwise to take, and will take, all such lawful and necessary action, so long as such action is not inconsistent with this Agreement. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE III</font>
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          <font style="letter-spacing:-0.2pt;">ACQUISITION MERGER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">3.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Acquisition Merger</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Upon the terms and subject to the conditions set forth in this Agreement and in accordance with the applicable provisions of Cayman Companies Act, at the Acquisition Merger Effective Time, Merger Sub 3 shall be merged with and into the Company. Following the Acquisition Merger, the separate corporate existence of Merger Sub 3 shall cease and the Company shall continue as the surviving company in the Acquisition Merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Surviving Company</font><font style="letter-spacing:0.2pt;">&#8221;) under the Laws of the Cayman Islands and become a wholly owned subsidiary of PubCo. </font>
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          <font style="letter-spacing:0.2pt;">3.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Acquisition Closing; Acquisition Closing Effective Time</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Unless this Agreement is earlier terminated in accordance with Article&#160;XIII, the closing of the Acquisition Merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Acquisition Closing</font><font style="letter-spacing:0.2pt;">&#8221;, and together with the Initial Closings, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Closings</font><font style="letter-spacing:0.2pt;">&#8221;) shall take place at the offices of Davis Polk &amp; Wardwell LLP, 450 Lexington Avenue, New York, New York at 9:00&#160;a.m. New York time and Cayman Islands time (10:00&#160;a.m. BVI time) one Business Day after the Initial Closing Date (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Closing Date</font><font style="letter-spacing:0.2pt;">&#8221;), or at such other place and time as the Company and SPAC may mutually agree upon in writing. The parties may participate in the Acquisition Closing via electronic means by the mutual exchange of electronic signatures (including portable document format (.PDF) and Verisign). Subject to the provisions of this Agreement, at the Acquisition Closing, the Company and Merger Sub 3 shall execute a plan of merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Plan of Acquisition Merger</font><font style="letter-spacing:0.2pt;">&#8221;) substantially in the form set out in </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exhibit&#160;C</font><font style="letter-spacing:0.2pt;"> attached hereto and the parties hereto shall cause the Acquisition Merger to be consummated by filing the Plan of Acquisition Merger (and other documents required by Cayman Companies Act) with the Registrar of Companies of the Cayman Islands in accordance with the relevant provisions of Cayman Companies Act (the time as agreed in writing by the Company and SPAC and specified in the Plan of Acquisition Merger, being the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Acquisition Merger Effective Time</font><font style="letter-spacing:0.2pt;">&#8221;; it being understood that the Acquisition Merger Effective Time shall be on a day that is one Business Day after the First SPAC Merger Effective Time and the Second SPAC Merger Effective Time). </font>
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          <font style="letter-spacing:0.2pt;">3.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of the Acquisition Merger</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, the effect of the Acquisition Merger shall be as provided in this Agreement, the Plan of Acquisition Merger and the applicable provisions of Cayman Companies Act. Without limiting the generality of the foregoing, and subject thereto, at the Acquisition Merger Effective Time, all the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of each of Merger Sub 3 and the Company shall become the property, rights, privileges, agreements, powers and franchises, debts, liabilities, duties and obligations of the Company, as the Surviving Company, which shall include the assumption by the Surviving Company of any and all agreements, covenants, duties and obligations of Merger Sub 3 and the Company set forth in this Agreement to be performed after the Acquisition Merger Effective Time. </font>
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          <font style="letter-spacing:0.2pt;">3.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Memorandum and Articles of Association of the Surviving Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, by virtue of the Acquisition Merger and without any action on the part of the Company, Merger Sub 3 or any other Person, the memorandum and articles of association of the Merger Sub 3, as in effect immediately prior to the Acquisition Merger Effective Time, shall become the memorandum and articles of association of the Surviving Company until thereafter amended as provided therein and under the Cayman Companies Act, except that the name of the Surviving Company reflected therein shall be &#8220;Bitdeer Technologies Holding Company.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">3.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Directors and Officers of the Surviving Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, the directors of the Company as of immediately prior to the Acquisition Merger Effective Time shall be the directors of the Surviving Company, each to hold office in accordance with the memorandum and articles of association of the Surviving Company until the earlier of his or her resignation or removal or he or she otherwise ceases to be a director or until his or her respective successor is duly elected and qualified, as the case may be. The officers of the Company immediately prior to the Acquisition Merger Effective Time shall be the officers of the Surviving Company, each to hold office in accordance with the memorandum and articles of association of the Surviving Company until the earlier of his or her resignation or removal or he or she otherwise ceases to be an officer or until his or her respective successor is duly elected and qualified, as the case may be. </font>
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          <font style="letter-spacing:0.2pt;">3.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Taking of Necessary Action; Further Action</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;If, at any time after the Acquisition Merger Effective Time, any further action is necessary or desirable to carry out the purposes of this Agreement and to vest the </font>
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          <font style="letter-spacing:0.2pt;">Surviving Company with full right, title and interest in, to and under, and/or possession of, all assets, property, rights, privileges, powers and franchises of Merger Sub 3 and the Company, the officers and directors of Merger Sub 3 and the Company are fully authorized in the name of their respective corporations or otherwise to take, and will take, all such lawful and necessary action, so long as such action is not inconsistent with this Agreement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">3.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">U.S. Tax Treatment of the Mergers</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;For U.S. federal income tax purposes, it is intended that (i)&#160;the Initial Mergers, taken together, shall qualify as a transaction treated as a reorganization pursuant to Section&#160;368(a)(1)(F) of the Code, (ii)&#160;the Acquisition Merger will qualify as a reorganization pursuant to Section&#160;368(a) of the Code and (iii)&#160;this Agreement shall constitute a &#8220;plan of reorganization&#8221; within the meaning of United States Treasury Regulations&#160;Section&#160;1.368-2(g) with respect to each of the Initials Mergers and the Acquisition Merger (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Intended Tax Treatment</font><font style="letter-spacing:0.2pt;">&#8221;). The parties to this Agreement hereby (i)&#160;adopt this Agreement as a &#8220;plan of reorganization&#8221; within the meaning of Sections&#160;1.368-2(g) and 1.368-3(a) of the United States Treasury Regulations and (ii)&#160;agree to report and file all Tax and other informational returns on a basis consistent with the Intended Tax Treatment, and not otherwise take any U.S. federal income tax position inconsistent with this Section&#160;3.7, in each case, to the extent permitted by applicable Law. No such party shall assert that such reporting is not permitted by Law, or otherwise take a position inconsistent with the Intended Tax Treatment, unless (i)&#160;such party first makes a determination in good faith based on advice of a law firm or accounting firm that such reporting is not permitted by Law and (ii)&#160;consults in good faith with the other parties and the Sponsor about such determination. Notwithstanding the foregoing or anything else to the contrary contained in this Agreement, the parties acknowledge and agree that no party is making any representation or warranty as to the qualification of any Merger as a nontaxable transaction for U.S. federal income Tax purposes or as to the effect, if any, that any transaction consummated on, after or prior to the Acquisition Merger Effective Time has or may have on the U.S. federal income Tax treatment of the Mergers. Each of the parties acknowledges and agrees that (i)&#160;it has had the opportunity to obtain independent legal and Tax advice with respect to the transactions contemplated by this Agreement, and (ii)&#160;none of the Company, SPAC, PubCo, Merger Sub 1, Merger Sub 2, Merger Sub 3 or any other Person shall have any liability or obligation to any Person if any Merger is determined not to qualify for the Intended Tax Treatment or otherwise not to qualify as a nontaxable transaction to the SPAC&#8217;s or Company&#8217;s shareholders for U.S. federal income Tax purposes. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">3.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">American Depositary Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;PubCo shall appoint a depositary bank to issue American depositary shares (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">ADSs</font><font style="letter-spacing:0.2pt;">&#8221;) to represent PubCo Class&#160;A Ordinary Shares in accordance with the terms set forth in a deposit agreement and registered with the SEC on Form F-6 (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">ADS Registration Statement</font><font style="letter-spacing:0.2pt;">&#8221;). The Parties shall take all actions necessary to have the ADSs listed on the stock exchange. Each party shall execute and deliver such documents and take such action, as may reasonably be considered within the scope of such party&#8217;s obligations hereunder, necessary to effectuate the ADS structure. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE IV</font>
          <br >
          <font style="letter-spacing:-0.2pt;">CONSIDERATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">4.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of First SPAC Merger on SPAC Securities</font><font style="letter-spacing:0.2pt;">. </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Treatment of SPAC Units</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Immediately prior to the First SPAC Merger Effective Time, without any action on the part of PubCo, SPAC, Merger Sub 1 or the SPAC Shareholders, each SPAC Unit issued and outstanding immediately prior to the First SPAC Merger Effective Time shall automatically be detached and the holder thereof shall be deemed to hold such number of SPAC Class&#160;A Ordinary Shares and SPAC Rights in accordance with the terms of the applicable SPAC Unit. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conversion of SPAC Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Immediately prior to the First SPAC Merger Effective Time (but immediately subsequent to the detachment of the SPAC Units as set forth in Section&#160;4.1(a)), pursuant to the terms and conditions of the SPAC Rights, each SPAC Right outstanding immediately prior to the First SPAC Merger Effective Time (and immediately subsequent to the detachment of the SPAC Units as set forth in Section&#160;4.1(a)) shall be cancelled and cease to exist in exchange for the right to receive, without interest, one-tenth (1/10) of a SPAC Class&#160;A Ordinary Share. Fractional shares will either be rounded pursuant to the terms of the Rights Agreement dated as of June&#160;9th, 2021 by and between SPAC and Continental Stock Transfer &amp; Trust Company, or otherwise addressed in accordance with the applicable provisions of British Virgin Islands law. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-12</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="t4OSS">&#8203;</a><a name="t4OAM">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-indent:20pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conversion of SPAC Ordinary Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the First SPAC Merger Effective Time, by virtue of the First SPAC Merger and without any action on the part of PubCo, SPAC, Merger Sub 1 or the SPAC Shareholders, each SPAC Ordinary Share issued and outstanding immediately prior to the First SPAC Merger Effective Time (but immediately subsequent to the conversion of the SPAC Rights as set forth in Section&#160;4.1(b)) (other than SPAC Dissenting Shares) shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, one PubCo Class&#160;A Ordinary Share, which will trade in the United States in the form of ADSs, and may be evidenced by American depositary receipts. Except as provided in this Section&#160;4.1(c), no shares of PubCo will be issued or outstanding at any time prior to the Acquisition Merger Effective Time other than the PubCo Share unless otherwise agreed in writing between the SPAC and the Company. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 1 Share</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the First SPAC Merger Effective Time, each share of Merger Sub 1 that is issued and outstanding immediately prior to the First SPAC Merger Effective Time shall automatically convert into one share of Initial SPAC Surviving Sub, which shall constitute the only outstanding share of Initial SPAC Surviving Sub and be owned by PubCo. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Treasury Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Notwithstanding Section&#160;4.1(c)above or any other provision of this Agreement to the contrary, if there are any SPAC Ordinary Shares that are owned by SPAC as treasury shares or any SPAC Ordinary Shares owned by any direct or indirect subsidiary of SPAC immediately prior to the First SPAC Merger Effective Time, at the First SPAC Merger Effective Time, such SPAC Ordinary Shares shall be canceled and shall cease to exist without any conversion thereof or payment or other consideration therefor. </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Dissenting Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each SPAC Ordinary Share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Dissenting Shares</font><font style="letter-spacing:0.2pt;">&#8221;) owned by SPAC Shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the First SPAC Merger pursuant to the BVI Companies Act (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Dissenting Shareholders</font><font style="letter-spacing:0.2pt;">&#8221;) shall thereafter represent only the right to receive the applicable payments set forth in Section&#160;4.5(c), unless and until such SPAC Dissenting Shareholder effectively withdraws its demand for, or loses its rights to, dissent from the First SPAC Merger pursuant to the BVI Companies Act with respect to any SPAC Dissenting Shares in accordance with Section 4.5(c). </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PubCo Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the First SPAC Merger Effective Time, the PubCo Share that was the only share of PubCo outstanding immediately prior to the First SPAC Merger Effective Time shall be redeemed for an amount equal to US$0.0000001 and cancelled. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">4.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of Second SPAC Merger</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 2 Share</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Second SPAC Merger Effective Time, the share of Merger Sub 2 that is issued and outstanding immediately prior to the Second SPAC Merger Effective Time shall automatically convert into one share of Subsequent SPAC Surviving Sub, which shall constitute the only outstanding share of Subsequent SPAC Surviving Sub and be owned by PubCo. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Initial SPAC Subsidiary Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The share of Initial SPAC Surviving Sub that is outstanding immediately prior to the Second SPAC Merger Effective Time shall be cancelled for no consideration. </font>
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          <font style="letter-spacing:0.2pt;">4.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of Acquisition Merger on Company Securities</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conversion of Company Ordinary Shares and Company Preferred Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, by virtue of the Acquisition Merger and without any action on the part of PubCo, Merger Sub 3, the Company or the Company Shareholders, each Company Ordinary Share and Company Preferred Share issued and outstanding immediately prior to the Acquisition Merger Effective Time (other than any Key Executive Shares and Company Dissenting Shares) shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, such number of PubCo Class&#160;A Ordinary Shares that is equal to the Exchange Ratio, which will trade in the United States in the form of ADSs. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conversion of Key Executive Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, by virtue of the Acquisition Merger and without any action on the part of PubCo, Merger Sub 3, the Company or the Company Shareholders, each Key Executive Share issued and outstanding immediately prior to the </font>
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          <font style="letter-spacing:0.2pt;">A-13</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Acquisition Merger Effective Time shall automatically be cancelled and cease to exist in exchange for the right to receive, without interest, such number of PubCo Class&#160;V Ordinary Shares that is equal to the Exchange Ratio. For avoidance of any doubt, from and after the Acquisition Merger Effective Time, any Person that was a holder of Company Shares (other than Company Dissenting Shares) shall thereafter cease to be a Company Shareholder and only have the right to receive the applicable Per Share Merger Consideration with respect to each Company Share held by it pursuant to Sections&#160;4.3(a) and 4.3(b). </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conversion of Company RSUs</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, by virtue of the Acquisition Merger and without any further action on the part of PubCo, Merger Sub 3, the Company or any holder of Company RSUs, each Company RSU outstanding immediately prior to the Acquisition Merger Effective Time, whether vested or unvested, shall be assumed by PubCo and converted into an award of restricted share&#160;units (each an &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Assumed RSU</font><font style="letter-spacing:0.2pt;">&#8221;) representing the rights to receive, on the same terms and conditions (including applicable vesting, settlement and expiration provisions) as applied to each such Company RSU immediately prior to the Acquisition Merger Effective Time, PubCo Class&#160;A Ordinary Shares, except that the number of PubCo Class&#160;A Ordinary Shares subject to such Assumed RSU shall equal to the product of: (A)&#160;the number of Company Ordinary Shares that were subject to such Company RSU immediately prior to the Acquisition Merger Effective Time, multiplied by(B) the Exchange Ratio, rounded down to the nearest whole share. </font>
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          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, by virtue of the Acquisition Merger and without any further action on the part of PubCo, Merger Sub 3 and the Company, the Company Plan shall be terminated and the Assumed RSUs shall be subject to the terms and conditions set forth in the 2021 Equity Incentive Plan of PubCo (as defined below); provided that any references in the award documents for such Assumed RSUs to the Company or the Company Ordinary Shares shall instead mean PubCo and PubCo Class&#160;A Ordinary Shares, respectively. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conversion of Company Convertible Note</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the Acquisition Merger Effective Time, by virtue of the Acquisition Merger and without any further action on the part of PubCo, Merger Sub 3, the Company or holder of the Company Convertible Note, the Company Convertible Note outstanding immediately prior to the Acquisition Merger Effective Time, shall be assumed by PubCo and represents the rights to receive, on the same terms and conditions as applied to such Company Convertible Note, PubCo Class&#160;A Ordinary Shares, except that the number of PubCo Class&#160;A Ordinary Shares to be received upon conversion of the Company Convertible Note shall equal to the product of: (A)&#160;the number of Company Ordinary Shares issuable upon conversion of the Company Convertible Note, multiplied by (B)&#160;the Exchange Ratio, rounded down to the nearest whole share. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Dissenting Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each Company Share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Dissenting Shares</font><font style="letter-spacing:0.2pt;">&#8221;) owned by Company Shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Acquisition Merger pursuant to the Cayman Companies Act (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Dissenting Shareholders</font><font style="letter-spacing:0.2pt;">&#8221;) shall thereafter represent only the right to receive the applicable payments set forth in Section&#160;4.5(a), unless and until such Company Dissenting Shareholder effectively withdraws its demand for, or loses its rights to, dissent from the Acquisition Merger pursuant to the Cayman Companies Act with respect to any Company Dissenting Shares. </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Share Capital of Merger Sub 3</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each share of Merger Sub 3 that is issued and outstanding immediately prior to the Acquisition Merger Effective Time shall, by virtue of the Acquisition Merger and without further action on the part of the sole shareholder of Merger Sub 3, be converted into and become one issued and outstanding ordinary share, par value US$0.0001 per share, of the Surviving Company, which shall constitute the only issued and outstanding shares of the Surviving Company immediately after the Acquisition Merger Effective Time, and shall be owned by PubCo. </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Adjustments</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Without limiting the other provisions of this Agreement, if at any time during the period between the date of this Agreement and the Acquisition Merger Effective Time, any change in the outstanding securities of the Company, SPAC or PubCo shall occur (other than the issuance of additional shares of share capital of the Company, SPAC or PubCo as permitted by this Agreement), including by reason of any reclassification, recapitalization, share split (including a reverse share split), </font>
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          <font style="letter-spacing:0.2pt;">A-14</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="t4OMC">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">or combination, exchange, readjustment of shares, or similar transaction, or any share dividend or distribution paid in share, the Exchange Ratio and any other amounts payable pursuant to this Agreement shall be appropriately adjusted to reflect such change; provided, however, that this sentence shall not be construed to permit SPAC, the Company or PubCo to take any action with respect to its securities that is prohibited by the terms of this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">4.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Payment of Merger Consideration</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;At least three (3)&#160;Business Days prior to the Closing Date, the Company shall prepare and deliver to SPAC a statement (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Closing Statement</font><font style="letter-spacing:0.2pt;">&#8221;) setting forth in good faith as of the Closing Date: (a)&#160;the aggregate number of Company Ordinary Shares (by classes) and Company Preferred Shares (by series) issued and outstanding; (b)&#160;the aggregate number of Company Ordinary Shares (by classes) underlying vested Company RSUs issued and outstanding; (c)&#160;the aggregate number of Company Shares issuable upon the exercise and conversion of the Company Convertible Note; (d)&#160;the aggregate number of Company Total Shares, (e)&#160;the Company&#8217;s calculation of the Per Share Equity Value; (f)&#160;the Company&#8217;s calculation of the Exchange Ratio, in each case, including reasonable supporting detail therefor; and (g)&#160;a list setting forth, with respect to each Company Shareholder, the name and address of such Company Shareholder, the number of Company Ordinary Shares and Company Preferred Shares owned by such Company Shareholder as of immediately prior to the Acquisition Merger Effective Time, and the number of PubCo Class&#160;A Ordinary Shares and PubCo Class&#160;V Ordinary Shares to be issued to such Company Shareholder at the Acquisition Closing. From and after delivery of the Company Closing Statement until the Acquisition Closing, the Company shall (x)&#160;cooperate with and provide SPAC and its representatives all information reasonably requested by SPAC or any of its representatives and within the Company&#8217;s or its representatives&#8217; possession or control in connection with SPAC&#8217;s review of the Company Closing Statement and (y)&#160;consider in good faith any comments to the Company Closing Statement provided by SPAC, and the Company shall revise such Company Closing Statement to incorporate any changes given such comments. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Prior to the First SPAC Merger Effective Time, PubCo shall appoint an exchange agent reasonably acceptable to the Company and SPAC (in such capacity, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exchange Agent</font><font style="letter-spacing:0.2pt;">&#8221;), for the purpose of exchanging (i)&#160;Company Shares for a number of PubCo Ordinary Shares or, at PubCo&#8217;s sole discretion, ADSs representing PubCo Class&#160;A Ordinary Shares, and (ii)&#160;SPAC Ordinary Shares for a number of PubCo Ordinary Shares or, at PubCo&#8217;s sole discretion, ADSs representing PubCo Class&#160;A Ordinary Shares, each in accordance with the provisions of this Agreement, the First Plan of Merger, the Second Plan of Merger and the Plan of Acquisition Merger, as applicable. At or prior to the First SPAC Merger Effective Time, PubCo shall deposit, or cause to be deposited with the Exchange Agent, (i)&#160;that number of ADSs representing PubCo Class&#160;A Ordinary Shares and (ii)&#160;that number of PubCo Class&#160;V Ordinary Shares, as calculated pursuant to Section&#160;4.1(c), Section&#160;4.3(a) and Section&#160;4.3(b). If the Exchange Agent requires that, as a condition to receive the PubCo Ordinary Shares or, at PubCo&#8217;s sole discretion, ADSs representing PubCo Class&#160;A Ordinary Shares, any holder of Company Shares, SPAC Ordinary Shares deliver a letter of transmittal to the Exchange Agent, then at or as promptly as practicable following the First SPAC Merger Effective Time or the Acquisition Merger Effective Time, as the case may be, PubCo shall send, or shall cause the Exchange Agent to send, to each SPAC Shareholder a letter of transmittal for use in such exchange, in a form reasonably acceptable to the Company and SPAC (a &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Letter of Transmittal</font><font style="letter-spacing:0.2pt;">&#8221;) and to each Company Shareholder a letter of transmittal for use in such exchange, in a form reasonably acceptable to the Company and SPAC (a &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Letter of Transmittal</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of this Section&#160;4.4, any obligation on PubCo under this Agreement to issue PubCo Ordinary Shares to (i)&#160;SPAC Shareholders entitled to PubCo Class&#160;A Ordinary Shares or (ii)&#160;Company Shareholders entitled to receive PubCo Ordinary Shares shall be satisfied (a)&#160;by PubCo issuing such PubCo Ordinary Shares directly to the holders entitled thereto by entering such holders on the register of members maintained by PubCo (or its share registrar) for the PubCo Class&#160;A Ordinary Shares or PubCo Class&#160;V Ordinary Shares, as applicable, (b)&#160;in the case of PubCo Class&#160;A Ordinary Shares to be issued in the form of unrestricted ADSs, by satisfying the requirements of the deposit agreement with the depositary bank to issue the ADSs in book entry form and instructing the depositary bank to deliver such ADSs to the Exchange Agent for further delivery through the book entry </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">transfer facilities maintained by to DTC to the SPAC Shareholders and Company Shareholders entitled thereto, and (c)&#160;in the case of all PubCo Class&#160;A Ordinary Shares subject to restrictions on sale and/or transfer and all PubCo Class&#160;V Ordinary Shares converted to PubCo Class&#160;A Ordinary Shares, by instructing the depositary bank in writing to accept for deposit the restricted PubCo Class&#160;A Ordinary Shares and issue restricted ADSs in book entry form registered on the books of the depositary bank in the name(s) and at the address(es) of the holder(s) entitled thereto and affixed with the applicable legends reflecting the restrictions on sale and/or transfer. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Each SPAC Shareholder shall be entitled to receive such number of PubCo Class&#160;A Ordinary Shares as calculated pursuant to Section&#160;4.1(c) as soon as reasonably practicable after the First SPAC Merger Effective Time, but subject to the delivery to the Exchange Agent of the following items prior thereto: (i)&#160;the certificate(s), if any, representing SPAC Ordinary Shares (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Certificates</font><font style="letter-spacing:0.2pt;">&#8221;) (or a Lost Certificate Affidavit) and (ii)&#160;a properly completed and duly executed SPAC Letter of Transmittal (if required). Until so surrendered, each such SPAC Certificate shall represent after the First SPAC Merger Effective Time for all purposes only the right to receive such number of PubCo Class&#160;A Ordinary Shares as calculated pursuant to Section&#160;4.1(c) (as evidenced by the SPAC Certificate). </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;Each Company Shareholder shall be entitled to receive such number of PubCo Class&#160;A Ordinary Shares or PubCo Class&#160;V Ordinary Shares, as the case may be, as calculated pursuant to Section&#160;4.3(a) and Section&#160;4.3(b), as soon as reasonably practicable after the Acquisition Merger Effective Time, but subject to the delivery to the Exchange Agent of the following items prior thereto: (i)&#160;the certificate(s), if any, representing such Company Shares (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Certificates</font><font style="letter-spacing:0.2pt;">&#8221; and together with the SPAC Certificates, the &#8220;Stockholder Certificates&#8221; &#8203;(or a Lost Certificate Affidavit)) and (ii)&#160;a properly completed and duly executed Company Letter of Transmittal (if required) (the documents to be submitted to the Exchange Agent pursuant to this sentence and the first sentence of Section&#160;4.4(d), as applicable, may be referred to herein collectively as the &#8220;Transmittal Documents&#8221;). Until so surrendered, each such Company Certificate shall represent after the Acquisition Merger Effective Time for all purposes only the right to receive such number of PubCo Class&#160;A Ordinary Shares or PubCo Class&#160;V Ordinary Shares, as the case may be, as calculated pursuant to Section&#160;4.3(a) and Section&#160;4.3(b) (as evidenced by the Company Certificate). </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;If any PubCo Class&#160;A Ordinary Share or PubCo Class&#160;V Ordinary Share is to be delivered or issued to a Person other than the Person in whose name the surrendered Stockholder Certificate is registered immediately prior to the First SPAC Merger Effective Time or Acquisition Merger Effective Time, as applicable, it shall be a condition to such delivery that (i)&#160;in the case of Company Shares, the transfer of such Company Shares shall have been permitted in accordance with the terms of the Organizational Documents of the Company and in case of SPAC Ordinary Shares, the transfer of such SPAC Ordinary Shares shall have been permitted in accordance with the Organizational Documents of SPAC, (ii)&#160;the recipient of such PubCo Class&#160;A Ordinary Share or PubCo Class&#160;V Ordinary Share, as applicable, or the Person in whose name such PubCo Class&#160;A Ordinary Share or PubCo Class&#160;V Ordinary Share is delivered or issued, shall have already executed and delivered duly executed counterparts to the applicable Transmittal Documents as are reasonably deemed necessary by the Exchange Agent and (iii)&#160;the Person requesting such delivery shall have paid to the Exchange Agent any transfer or other Taxes required as a result of such delivery to a Person other than the registered holder of such Stockholder Certificate, or establish to the satisfaction of the Exchange Agent that such Tax has been paid or is not payable. </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, in the event that any Stockholder Certificate shall have been lost, stolen or destroyed, in lieu of delivery of a Stockholder Certificate to the Exchange Agent, the SPAC Shareholder or Company Shareholder, as applicable, may instead deliver to the Exchange Agent an affidavit of lost certificate and indemnity of loss in form and substance reasonably acceptable to PubCo (a &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Lost Certificate Affidavit</font><font style="letter-spacing:0.2pt;">&#8221;), which at the reasonable discretion of PubCo may include a requirement that the owner of such lost, stolen or destroyed Stockholder Certificate deliver a bond in such sum as it may reasonably direct as indemnity against any claim that may be made against PubCo, SPAC or the Surviving Company with respect to the Company Shares or SPAC Ordinary Shares, as applicable, represented by the Stockholder Certificates alleged to have been lost, stolen or destroyed. </font>
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          <font style="letter-spacing:0.2pt;">A-16</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="t45RI">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">Any Lost Certificate Affidavit properly executed and delivered in accordance with this Section&#160;4.4(g) shall, unless the context otherwise requires, be treated as a Stockholder Certificate for all purposes of this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">(h)&nbsp;&nbsp;&nbsp;After the Acquisition Merger Effective Time, the register of members of the Company shall be closed, and thereafter there shall be no further registration on the register of members of the Surviving Company of transfers of Company Shares that were issued and outstanding immediately prior to the Acquisition Merger Effective Time. After the First SPAC Merger Effective Time, the register of members of SPAC shall be closed, and thereafter there shall be no further registration on the register of members of SPAC of transfers of SPAC Ordinary Shares that were issued and outstanding immediately prior to the First SPAC Merger Effective Time. No dividends or other distributions declared or made after the date of this Agreement with respect to PubCo Ordinary Shares with a record date after the Acquisition Merger Effective Time (in the case of Company Shares) or the First SPAC Merger Effective Time (in the case of SPAC Ordinary Shares) will be paid to the holders of any Company Shares that were issued and outstanding immediately prior to the Acquisition Merger Effective Time or SPAC Ordinary Shares that were issued and outstanding immediately prior to the First SPAC Merger Effective Time (as applicable) in either case until the holders of record of such Company Shares or SPAC Ordinary Shares (as applicable) shall have provided the applicable Transmittal Documents in accordance with Section&#160;4.4(d) and Section&#160;4.4(e). Subject to applicable Law, following the delivery of the applicable Transmittal Documents, the Exchange Agent shall promptly deliver to the record holders thereof, without interest, the applicable PubCo Class&#160;A Ordinary Shares or PubCo Class&#160;V Ordinary Shares and the amount of any such dividends or other distributions with a record date after the Acquisition Merger Effective Time or the First SPAC Merger Effective Time, as applicable, theretofore paid with respect to such PubCo Ordinary Shares. </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;All securities issued upon the surrender of Stockholder Certificates (or delivery of a Lost Certificate Affidavit) in accordance with the terms hereof shall be deemed to have been issued in full satisfaction of all rights pertaining to SPAC Ordinary Shares or Company Shares, as applicable, represented by such Stockholder Certificates, provided that any restrictions on the sale and transfer of such Company Shares or SPAC Ordinary Shares shall also apply to the PubCo Ordinary Shares so issued in exchange, as applicable (such PubCo Ordinary Shares so restricted may not be issued in the form of unrestricted ADSs through the book-entry transfer system of DTC). Any portion of the PubCo Ordinary Shares made available to the Exchange Agent pursuant to Section&#160;4.4(b) that remains unclaimed by SPAC Shareholders or Company Shareholders one year after the First SPAC Merger Effective Time shall be returned to PubCo, upon demand, and any such SPAC Shareholder or Company Shareholder, as applicable, who has not exchanged its SPAC Ordinary Shares or Company Shares, as applicable, for the applicable portion of PubCo Class&#160;A Ordinary Shares or PubCo Class&#160;V Ordinary Shares in accordance with this Section&#160;4.4 prior to that time shall thereafter look only to PubCo for payment of the applicable PubCo Class&#160;A Ordinary Shares or PubCo Class&#160;V Ordinary Shares, without any interest thereon (but with any dividends paid with respect thereto). Notwithstanding anything to the contrary in this Agreement, none of the Surviving Company, PubCo or any other party hereto or any representative of any of the foregoing shall be liable to any Person for any amount properly paid to a public official pursuant to any applicable abandoned property, escheat or similar Law. </font>
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          <font style="letter-spacing:0.2pt;">(j)&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, no fraction of a PubCo Ordinary Share will be issued by virtue of this Agreement or the transactions contemplated hereby, and each holder of SPAC Ordinary Shares or Company Shares, as applicable who would otherwise be entitled to a fraction of a PubCo Ordinary Share (after aggregating all PubCo Ordinary Shares to which such holder otherwise would be entitled) shall instead have the number of PubCo Ordinary Shares issued to such holder rounded up or down to the nearest whole share (with 0.5 of a share or greater rounded up), as applicable. Such fractional share interests will not entitle the owner thereof to vote or to any rights of a shareholder of PubCo. </font>
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          <font style="letter-spacing:0.2pt;">4.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Dissenter&#8217;s Rights</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;No person who has validly exercised their dissenters&#8217; rights pursuant to the Cayman Companies Act shall be entitled to receive the Per Share Merger Consideration with respect to the Company Dissenting Shares owned by such Company Dissenting Shareholder unless and until such Company </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="t4RNA">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">Dissenting Shareholder shall have effectively withdrawn or lost their dissenters&#8217; rights under the Cayman Companies Act. Each Company Dissenting Shareholder shall be entitled to receive only the payment resulting from the procedure set forth in the Cayman Companies Act with respect to the Company Dissenting Shares owned by such Company Dissenting Shareholder. The Company shall give SPAC (i)&#160;prompt notice of any notices of objection, notices of dissent, written demands for appraisal, demands for fair value, attempted withdrawals of such demands, and any other instruments served pursuant to applicable Laws that are received by the Company relating to any Company Dissenting Shareholder&#8217;s rights of dissent under the Cayman Companies Act and (ii)&#160;the opportunity to direct all negotiations and proceedings with respect to demand for appraisal under the Cayman Companies Act. The Company shall not, except with the prior written consent of SPAC, voluntarily make any payment with respect to any demands for appraisal, offer to settle or settle any such demands or approve any withdrawal of any such demands. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;In the event that any written notices of objection to the Acquisition Merger are served by any Company Shareholders pursuant section 238(2) of the Cayman Companies Act, the Company shall serve written notice of the authorization and approval of this Agreement, the Plan of Acquisition Merger and the Acquisition Merger on such shareholders pursuant to section 238(4) of the Cayman Companies Act within twenty (20) days of obtaining the Company Shareholder Approval, provided, that prior to serving any such notice, the Company shall consult with SPAC with respect to such notice and shall afford SPAC a reasonable opportunity to comment thereon. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;No person who has validly exercised their dissenters&#8217; rights pursuant to the BVI Companies Act shall be entitled to receive applicable PubCo Class&#160;A Ordinary Shares under Section&#160;4.1(c) with respect to the SPAC Dissenting Shares owned by such SPAC Dissenting Shareholder unless such SPAC Dissenting Shareholder shall have, prior to the First SPAC Merger Effective Time, effectively withdrawn or lost their dissenters&#8217; rights under the BVI Companies Act. Each SPAC Dissenting Shareholder shall be entitled to receive only the payment resulting from the procedure set forth in the BVI Companies Act with respect to the SPAC Dissenting Shares owned by such SPAC Dissenting Shareholder. SPAC shall give the Company (i)&#160;prompt notice of any notices of objection, notices of dissent, written demands for appraisal, demands for fair value, attempted withdrawals of such demands, and any other instruments served pursuant to applicable Laws that are received by SPAC relating to any SPAC Dissenting Shareholder&#8217;s rights of dissent under the BVI Companies Act and (ii)&#160;the opportunity to direct all negotiations and proceedings with respect to demand for appraisal under the BVI Companies Act. SPAC shall not, except with the prior written consent of the Company, voluntarily make any payment with respect to any demands for appraisal, offer to settle or settle any such demands or approve any withdrawal of any such demands. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;In the event that any written notices of objection to the First SPAC Merger are served by any SPAC Shareholders pursuant section 179 of the BVI Companies Act, SPAC shall serve written notice of the authorization and approval of this Agreement, the First Plan of Merger and the First SPAC Merger on such shareholders pursuant to section 179 of the BVI Companies Act within twenty (20) days of obtaining the Required SPAC Shareholder Approval, provided, that prior to serving any such notice, SPAC shall consult with the Company with respect to such notice and shall afford the Company a reasonable opportunity to comment thereon. </font>
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          <font style="letter-spacing:0.2pt;">4.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Withholding Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Agreement to the contrary, SPAC, PubCo, the Company, the Surviving Company and their respective Affiliates shall be entitled to deduct and withhold from amounts otherwise payable pursuant to this Agreement, any amount required to be deducted and withheld with respect to the making of such payment under applicable Law; provided, that if PubCo or any party acting on its behalf determines that any payment hereunder is subject to deduction and/or withholding, then PubCo shall (a)&#160;provide written notice to the recipient of such payment as soon as reasonably practicable after such determination and (b)&#160;consult and cooperate with the recipient of such payment reasonably and in good faith to reduce or eliminate any such deduction or withholding to the extent permitted by applicable Law. To the extent that amounts are so withheld and paid over to the appropriate Authority, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction and withholding was made. Any amounts so withheld shall be timely remitted to the applicable Authority. </font>
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          <font style="letter-spacing:0.2pt;">A-18</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC4">TABLE OF CONTENTS</a><a name="t4TTC">&#8203;</a><a name="tAVAW">&#8203;</a><a name="t5EAP">&#8203;</a><a name="t5TCG">&#8203;</a><a name="t5ANT">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">4.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Transfer Taxes</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company shall bear and pay any transfer, documentary, sales, use, stamp, registration, value added or other similar Taxes (&#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Transfer Taxes</font><font style="letter-spacing:0.2pt;">&#8221;). The parties shall file (or cause to be filed) all necessary Tax Returns with respect to all such Transfer Taxes. The parties agree to reasonably cooperate to (i)&#160;sign and deliver such resale and other certificates or forms as may be necessary or appropriate to establish an exemption from (or otherwise reduce) any such Transfer Taxes and (ii)&#160;prepare and file (or cause to be prepared and filed) all Tax Returns in respect of any such Transfer Taxes. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE V</font>
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          <font style="letter-spacing:-0.2pt;">REPRESENTATIONS AND WARRANTIES OF THE COMPANY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Except as set forth in the Company Disclosure Schedule (it being understood that any information set forth in one section or subsection of the Company Disclosure Schedule shall be deemed to qualify the section or subsection of this Agreement to which it corresponds in number along with each other section or subsection of this Agreement to the extent that it is reasonably apparent that such information is relevant to such other section of subsection), the Company represents and warrants to SPAC, SPAC Sub and the Acquisition Entities that: </font>
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          <font style="letter-spacing:0.2pt;">5.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Corporate Existence and Power</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company is an exempted company duly incorporated, validly existing and in good standing under the Laws of the Cayman Islands and each Subsidiary of the Company is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization. The Company has all requisite power and authority, corporate and otherwise to own and operate its properties and assets and to carry on its business as presently conducted. Each Subsidiary of the Company has all requisite power and authority, corporate and otherwise to own and operate its properties and assets and to carry on its business as presently conducted, other than as would not be reasonably expected to individually or in the aggregate, have a Material Adverse Effect. Each member of the Company Group is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the properties owned or leased by it or the operation of its business as currently conducted makes such licensing or qualification necessary, except where the failure to be so licensed, qualified or in good standing would not have a Material Adverse Effect. </font>
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          <font style="letter-spacing:0.2pt;">5.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Authorization</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company Group has the requisite power and authority to execute and deliver this Agreement and each Additional Agreement to which it is a party and to perform all obligations to be performed by it hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance by the Company Group of this Agreement and the Additional Agreements to which it is a party, the consummation by the Company Group of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company Group (including the board of directors of the Company), subject to the authorization and approval of this Agreement, the Plan of Acquisition Merger and the transactions contemplated hereby by way of a special resolution of the shareholders of the Company passed by the affirmative vote of holders of Company Shares representing at least two-thirds of the votes of the Company Shares present and voting in person or by proxy at a meeting of the shareholders of the Company in accordance with the memorandum and articles of association of the Company and the Cayman Companies Act (collectively, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Shareholder Approval</font><font style="letter-spacing:0.2pt;">&#8221;). The affirmative vote of the holders that are parties to the Voting and Support Agreement is sufficient to duly obtain the Company Shareholder Approval in accordance with the Cayman Companies Act and the Company&#8217;s Organizational Documents. This Agreement has been, and each Additional Agreement (when executed and delivered by the Company Group) will be, duly and validly executed and delivered by the Company Group, and assuming due and valid authorization, execution and delivery by each other party hereto and thereto, this Agreement constitutes, and each Additional Agreement (when executed and delivered by the Company Group) will constitute, a valid and legally binding obligation of the Company Group, enforceable against the Company Group in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors&#8217; rights and to general principles of equity (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Bankruptcy and Equity Exception</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">5.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Governmental Authorization</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Neither the execution, delivery nor performance by the Company Group of this Agreement or any Additional Agreements to which it is a party requires any notice to, consent, approval, permit, license or other action by or in respect of, or registration, declaration or filing with, any Authority. </font>
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          <font style="letter-spacing:0.2pt;">5.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Non-Contravention</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The execution, delivery and performance by the Company of this Agreement and any Additional Agreements to which it is a party does not and will not (a)&#160;contravene or conflict with the Organizational Documents of the Company Group, (b)&#160;contravene or conflict with or constitute a violation of any provision of any Law or Order binding upon or applicable to the Company Group, (c)&#160;constitute a default under or breach of (with or without the giving of notice or the passage of time or both) or violate or give rise to any right of termination, cancellation, amendment or acceleration of any right or obligation of the Company Group or require any payment or reimbursement or to a loss of any material benefit relating to the business to which the Company Group is entitled under any provision of any Permit, Contract or other instrument or obligations binding upon the Company Group or by which any of the Company Ordinary Share, or any of the Company Group&#8217;s assets is or may be bound, (d)&#160;result in the creation or imposition of any Lien on any of the Company Ordinary Shares, (e)&#160;cause a loss of any material benefit relating to the business to which the Company Group is entitled under any provision of any permit or Contract or (f)&#160;result in the creation or imposition of any Lien (except for Permitted Liens) on any of the Company Group&#8217;s material assets, except, in the cases of (b)&#160;to (d), for such conflict, violation, breach, default or failure to act that would not be reasonably expected to, individually or in the aggregate, have a Material Adverse Effect. </font>
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          <font style="letter-spacing:0.2pt;">5.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Capital Structure</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Share Capital</font><font style="letter-spacing:0.2pt;">. The Company has an authorized capital of US$50,000 consisting of (i)&#160;491,722,670,897 Company Class&#160;A Ordinary Shares, of which 4,384,796,703 are issued and outstanding as of the date hereof, (ii)&#160;5,631,795,619 Company Class&#160;B Ordinary Shares, of which 5,631,795,619 are issued and outstanding as of the date hereof, (iii)&#160;461,033,549 Series&#160;A preferred shares, par value US$0.0000001 per share, of which 461,033,549 are issued and outstanding as of the date hereof; (iv)&#160;870,232,230 Series&#160;B preferred shares, par value US$0.0000001 per share, of which 870,232,230 are issued and outstanding as of the date hereof; and (v)&#160;1,314,267,705 Series&#160;B+ preferred shares, par value US$0.0000001 per share, of which 1,314,267,705 are issued and outstanding as of the date hereof. No Company Share is held in its treasury. All of the issued and outstanding Company Shares have been duly authorized and validly issued, are fully paid and non-assessable, and are not subject to any preemptive rights or have been issued in violation of any preemptive or similar rights of any Person. All of the issued and outstanding Company Shares are owned legally and beneficially by the Company Shareholders set forth on Section&#160;5.5(a) of the Company Disclosure Schedule. The only Company Shares that will be issued and outstanding immediately after the Acquisition Merger Effective Time will be the Company Ordinary Shares owned by PubCo. No other class in the share capital of the Company is authorized or issued or outstanding. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company RSUs</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;As of the date hereof, (i)&#160;an aggregate of 2,548,933,157 Company Class&#160;A Ordinary Shares were reserved for issuance pursuant to the Company Plan, and (ii)&#160;there are outstanding Company RSUs with respect to an aggregate of 1,101,772,000 Company Class&#160;A Ordinary Shares, none of which is vested. There are no Contracts to which the Company is a party obligating the Company to accelerate the vesting of any Company RSUs as a result of the transactions contemplated by this Agreement (whether alone or upon the occurrence of any additional or subsequent events). The Company has made available to the SPAC Parties accurate and complete copies of (i)&#160;the Company Plan pursuant to which the Company has granted the Company RSUs that are currently outstanding, and (ii)&#160;the form of award agreement evidencing such Company RSUs. There are no award agreements evidencing any Company RSUs with terms that are materially different from those set forth in the form of award agreement that has been made available to the SPAC Parties. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Convertible Note</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Section&#160;5.5(c) of the Company Disclosure Schedule set forth as of the date of this Agreement a complete and correct list of each Company Convertible Note. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Other than the Company RSUs, and the Company Convertible Note referred to in Section&#160;5.5(c) of the Company Disclosure Schedule, there are no: (i)&#160;outstanding subscriptions, calls, options, warrants, rights (including preemptive rights), puts or other securities convertible into or exchangeable or exercisable for Company Shares or the equity interests of the Company, or any other Contracts to which the Company is a party or by which the Company is bound obligating the Company to issue or sell any shares of, other equity interests in or debt securities of, the Company, (ii)&#160;equity equivalents, or share appreciation rights, phantom stock or share ownership interests or similar rights in the Company, (iii)&#160;outstanding contractual obligations of the Company to repurchase, redeem or </font>
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          <font style="letter-spacing:0.2pt;">A-20</font>
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          <font style="letter-spacing:0.2pt;">otherwise acquire any securities or equity interests of the Company, or (iv)&#160;outstanding bonds, debentures, notes or other indebtedness of the Company having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matter for which the Company&#8217;s shareholders may vote. Other than the Voting and Support Agreement, the Company is not a party to any shareholders agreement, voting agreement, proxies, registration rights agreement or other similar agreements relating to its equity interests. </font>
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          <font style="letter-spacing:0.2pt;">5.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Charter Documents</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Copies of Organizational Documents of each member of the Company Group have heretofore been made available to the SPAC Parties, and such copies are each true and complete copies of such instruments as amended and in effect on the date hereof. Neither the Company nor any Subsidiary of the Company has taken any action in violation of its Organizational Documents. </font>
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          <font style="letter-spacing:0.2pt;">5.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Corporate Records</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The register of members and all proceedings of the board of directors, including committees thereof, and shareholders of the Company Group since January&#160;26, 2021, have been made available to the SPAC Parties, and are true, correct and complete copies of the original register of members or the equivalent documents and such proceeding records of the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Subsidiaries</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Section&#160;5.8(a) of the Company Disclosure Schedule sets forth the name of each Subsidiary of the Company, and with respect to each Subsidiary, its jurisdiction of organization, its authorized shares or other equity interests (if applicable), and the number of issued and outstanding shares or other equity interests and the record holders thereof. Each Subsidiary of the Company (i)&#160;is a legal entity duly organized, validly existing and in good standing under the Laws of its jurisdiction of organization and (ii)&#160;has all requisite power and authority to own, lease and operate its properties and assets and to carry on its business as now conducted. (i)&#160;All of the outstanding equity securities of each Subsidiary of the Company are duly authorized and validly issued, duly registered and non-assessable (if applicable), were offered, sold and delivered in material compliance with all applicable securities Laws, and are owned by the Company or one of its Subsidiaries free and clear of all Liens (other than those, if any, imposed by such Subsidiary&#8217;s Organizational Documents); (ii)&#160;there are no Contracts to which the Company or any of its Affiliates is a party or bound with respect to the voting (including voting trusts or proxies) of the shares or other equity interests of any Subsidiary of the Company other than the Organizational Documents of such Subsidiary; (iii)&#160;there are no outstanding or authorized options, warrants, rights, agreements, subscriptions, convertible securities or commitments to which any Subsidiary of the Company is a party or which are binding upon any Subsidiary of the Company providing for the issuance or redemption of any shares or other equity interests in or of any Subsidiary of the Company; (iv)&#160;there are no outstanding equity appreciation, phantom equity, profit participation or similar rights granted by any Subsidiary of the Company; (v)&#160;except as set forth in Section&#160;5.8(a) of the Company Disclosure Schedule, no Subsidiary of the Company has any limitation on its ability to make any distributions or dividends to its equity holders, whether by Contract, Order or applicable Law; (vi)&#160;except for equity interests of the Subsidiaries listed in Section&#160;5.8(a) of the Company Disclosure Schedule, the Company Group does not own or have any rights to acquire, directly or indirectly, any shares or other equity interests of, or otherwise Control, any Person; (vii)&#160;none of the Company or its Subsidiaries is a participant in any joint venture, partnership or similar arrangement, and (viii)&#160;except as set forth in Section&#160;5.8(a) of the Company Disclosure Schedule, there are no outstanding contractual obligations of the Company or its Subsidiaries to provide funds to, or make any investment (in the form of a loan, capital contribution or otherwise) in, any other Person. </font>
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          <font style="letter-spacing:0.2pt;">5.9&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Consents</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Contracts binding upon the Company Group or by which any of the Company Ordinary Share, or any of the Company Group&#8217;s assets are bound, requiring a consent, approval, authorization, order or other action of or filing with any Person (other than the Company Group) as a result of the execution, delivery and performance of this Agreement or any of the Additional Agreements or the consummation of the transactions contemplated hereby or thereby. </font>
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          <font style="letter-spacing:0.2pt;">5.10&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Financial Statements</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The Company has made available to the SPAC Parties true and complete copies of (i)&#160;the audited consolidated financial statements of the Company Group as of and for the fiscal&#160;years ended </font>
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          <font style="letter-spacing:0.2pt;">December&#160;31, 2020 and 2019, consisting of the audited consolidated balance sheets as of such dates, the audited consolidated income statements for the twelve (12) month periods ended on such dates, and the audited consolidated cash flow statements for the twelve (12) month periods ended on such dates, audited in accordance with the requirements of the Public Company Accounting Oversight Board and (ii)&#160;reviewed financial statements of the Company as of and for the six (6)&#160;month period ended June&#160;30, 2021 (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Balance Sheet Date</font><font style="letter-spacing:0.2pt;">&#8221;), consisting of the unaudited consolidated balance sheets as of such date (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Balance Sheet</font><font style="letter-spacing:0.2pt;">&#8221;), the reviewed consolidated income statement for the six (6)&#160;month periods ended on such date, and the reviewed consolidated cash flow statements for the six (6)&#160;month periods ended on such date ((i) and (ii)&#160;collectively, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Financial Statements</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The Financial Statements are complete and accurate and fairly present in all material respects, in conformity with the IFRS applied on a consistent basis in all material respects, the financial position of the Company Group as of the dates thereof and the results of operations of the Company Group for the periods reflected therein. The Financial Statements (i)&#160;were prepared from the Books and Records of the Company; (ii)&#160;were prepared on an accrual basis in accordance with its applicable accounting standards consistently applied; (iii)&#160;contain and reflect all necessary adjustments and accruals for a fair presentation of the Company&#8217;s financial condition in all material respects as of their dates including for all warranty, maintenance, service and indemnification obligations; and (iv)&#160;contain and reflect adequate provisions for all liabilities for all material Taxes applicable to the Company with respect to the periods then ended. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Except as specifically disclosed, reflected or fully reserved against on the Company Balance Sheet, and for liabilities and obligations of a similar nature and in similar amounts incurred in the ordinary course of business since the Balance Sheet Date, there are no material liabilities, debts or obligations of any nature (whether accrued, fixed or contingent, liquidated or unliquidated, asserted or unasserted or otherwise), or any &#8220;off-balance sheet arrangements&#8221; relating to the Company. All material debts and liabilities, fixed or contingent, which should be included under IFRS on the Company Balance Sheet are included therein. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;The Company Balance Sheet accurately reflects in all material respects the outstanding Indebtedness of the Company as of the date thereof. Except as set forth in the Financial Statements, the Company does not have any material Indebtedness. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">5.11&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Internal Accounting Controls</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company Group maintains a system of internal accounting controls sufficient to provide reasonable assurance that: </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;transactions are executed only in accordance with the respective management&#8217;s authorization; </font>
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          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;all income and expense items are promptly and properly recorded for the relevant periods in accordance with the revenue recognition and expense policies maintained by the Company Group, as permitted by the IFRS; </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;access to assets is permitted only in accordance with the respective management&#8217;s authorization; and </font>
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          <font style="letter-spacing:0.2pt;">(iv)&nbsp;&nbsp;&nbsp;recorded assets are compared with existing assets at reasonable intervals, and appropriate action is taken with respect to any differences. </font>
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          <font style="letter-spacing:0.2pt;">5.12&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Absence of Certain Changes</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Since December&#160;31, 2020, except as set forth on Section&#160;5.12 of the Company Disclosure Schedule or contemplated by this Agreement, any Additional Agreements or in connection with the transactions contemplated hereby and thereby, (a)&#160;the Company Group has conducted the business in the ordinary course consistent with past practices; (b)&#160;there has not been any Material Adverse Effect; and (c)&#160;the Company Group has not taken any action set forth in Section&#160;8.1, nor has any such event occurred. </font>
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          <font style="letter-spacing:0.2pt;">5.13&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Properties; Title to the Company Group&#8217;s Assets</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The material items of Tangible Personal Property have no defects, are in good operating condition and repair and function in accordance with their intended uses (ordinary wear and tear excepted) and have been properly maintained, and are suitable for their present uses and meet all </font>
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          <font style="letter-spacing:0.2pt;">A-22</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="t5EAS">&#8203;</a><a name="t515">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">specifications and warranty requirements with respect thereto; and all of the Tangible Personal Property is in the control of the Company or its employees. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The Company Group has good, valid and marketable title in and to, or in the case of the assets which are leased or licensed pursuant to Contracts, a valid leasehold interest or license in or a right to use, all of their assets reflected on the Company Balance Sheet or acquired after Balance Sheet Date, other than as would not be material, individually or in the aggregate, to the Company Group. No such asset is subject to any Liens other than Permitted Liens. The Company Group&#8217;s assets constitute all of the material assets of any kind or description whatsoever, including goodwill, for the Company Group to operate the business immediately after the Closings in the same manner as the business is currently being conducted. Section&#160;5.13(b) of the Company Disclosure Schedule sets forth a true, correct and complete list of the model and number of cryptocurrency miners owned by the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.14&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Litigation</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as set forth in Section&#160;5.14 of the Company Disclosure Schedule, (i)&#160;there is no Action (or any basis therefore) pending against, or to the knowledge of the Company Group threatened against or affecting, the Company Group, any of its officers or directors, the business currently conducted by the Company Group, or any Company Shares or Company RSUs, or any of the Company Group&#8217;s assets or Contracts before any court, Authority or official or which in any manner challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated hereby or by the Additional Agreements, other than as would not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect; (ii)&#160;there are no outstanding judgments against the Company Group that would reasonably to be expected to, individually or in the aggregate, have a Material Adverse Effect on the ability of the Company to enter into and perform its obligations under this Agreement; and (iii)&#160;each member of the Company Group is not, and has not been since January&#160;26, 2021, subject to any Action with any Authority, other than as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. </font>
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          <font style="letter-spacing:0.2pt;">5.15&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Contracts</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Section&#160;5.15(a) of the Company Disclosure Schedule sets forth a complete and accurate list of all Contracts, oral or written to which the Company Group is a party or is bound by falling within the following categories (each Contract required to be listed on Section&#160;5.15(a) of the Company Disclosure Schedule, a &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Material Contract</font><font style="letter-spacing:0.2pt;">&#8221;; it being understood that the Company is not required to list any Contract with the Company Group&#8217;s suppliers or customers entered into in the ordinary course of business in Section&#160;5.15(a) of the Company Disclosure Schedule if such Contract falls into categories set forth in Section&#160;5.15(a)(i), (v), (vii)&#160;or (viii)&#160;but any such Contract shall still constitute a Material Contract for the purposes of this Agreement): </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;all Contracts that require annual payments or expenses by, or annual payments or income to, the Company Group of US$2,500,000 or more (other than standard purchase and sale orders and agreements entered into in the ordinary course of business consistent with past practice); </font>
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          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;all sales, advertising, agency, lobbying, broker, sales promotion, market research, marketing or similar contracts and agreements, in each case requiring the payment of any commissions by the Company Group in excess of US$2,500,000 annually; </font>
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          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;all employment Contracts, employee leasing Contracts, and consultant and sales representatives Contracts with any current or former officer, director, employee or consultant of the Company Group or other Person, under which the Company Group (A)&#160;has continuing obligations for payment of annual compensation of at least US$500,000 (other than oral arrangements for at-will employment), (B)&#160;has material severance or post termination obligations to such Person, or (C)&#160;has an obligation to make a payment upon consummation of the transactions contemplated hereby or as a result of a change of control of the Company Group; </font>
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          <font style="letter-spacing:0.2pt;">(iv)&nbsp;&nbsp;&nbsp;all Contracts creating a material joint venture, strategic alliance, limited liability company and partnership agreements to which the Company Group is a party; </font>
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          <font style="letter-spacing:0.2pt;">(v)&nbsp;&nbsp;&nbsp;all Contracts relating to any material acquisitions or dispositions of assets by the Company Group in excess of US$2,500,000; </font>
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          <font style="letter-spacing:0.2pt;">A-23</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">(vi)&nbsp;&nbsp;&nbsp;all Contracts with a digital asset exchange or over-the-counter trading desk; </font>
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          <font style="letter-spacing:0.2pt;">(vii)&nbsp;&nbsp;&nbsp;all Contracts relating to power or energy supply in connection to the mining data centers owned or otherwise Controlled by the Company; </font>
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          <font style="letter-spacing:0.2pt;">(viii)&nbsp;&nbsp;&nbsp;each Contract or series of related Contracts pursuant to which the Company Group has agreed to purchase mining hardware or equipment in excess of US$2,500,000; </font>
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          <font style="letter-spacing:0.2pt;">(ix)&nbsp;&nbsp;&nbsp;all Contracts for material licensing agreements, including Contracts licensing Intellectual Property Rights, other than (i)&#160;&#8220;shrink wrap&#8221; licenses, and (ii)&#160;non-exclusive licenses granted in the ordinary course of business; </font>
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          <font style="letter-spacing:0.2pt;">(x)&nbsp;&nbsp;&nbsp;all Contracts (i)&#160;under which the Company Group is currently: (A)&#160;licensing or otherwise providing the right to use to any third party any Intellectual Property Rights owned by the Company Group, or (B)&#160;licensing or otherwise receiving the right to use from any third party any material Intellectual Property Right, with the exception of (1)&#160;non-exclusive licenses and subscriptions to commercially available software or technology used for internal use by the Company Group, with a dollar value individually not in excess of US$300,000, (2)&#160;any Contract related to open source software, or (3)&#160;any Contract under which the Company Group licenses any of its Intellectual Property Rights in the ordinary course of business, and (ii)&#160;under which the Company Group has entered into an agreement not to assert or sue with respect to any Intellectual Property Right; </font>
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          <font style="letter-spacing:0.2pt;">(xi)&nbsp;&nbsp;&nbsp;all Contracts relating to material secrecy, confidentiality and nondisclosure agreements restricting the conduct of the Company Group or substantially limiting the freedom of the Company Group to compete in any line of business or with any Person or in any geographic area; </font>
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          <font style="letter-spacing:0.2pt;">(xii)&nbsp;&nbsp;&nbsp;all Contracts relating to material patents, trademarks, service marks, trade names, brands, copyrights, trade secrets and other material Intellectual Property Rights of the Company Group; </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(xiii)&nbsp;&nbsp;&nbsp;all Contracts providing for material guarantees, indemnification arrangements and other hold harmless arrangements made or provided by the Company Group, including all ongoing agreements for repair, warranty, maintenance, service, indemnification or similar obligations; </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(xiv)&nbsp;&nbsp;&nbsp;all Contracts with the Company Group to which any 5% Company Shareholder or any director or officer of the Company Group (as set forth in Section&#160;5.29 of the Company Disclosure Schedule) is a party (other than standard employment agreement or award agreements under the Company Plan with any director or officer of the Company Group); </font>
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          <font style="letter-spacing:0.2pt;">(xv)&nbsp;&nbsp;&nbsp;all Contracts relating to property or assets (whether real or personal, tangible or intangible) in which the Company Group holds a leasehold interest (including the Leases) and which involve payments to the lessor thereunder in excess of US$1,000,000 annually; </font>
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          <font style="letter-spacing:0.2pt;">(xvi)&nbsp;&nbsp;&nbsp;all Contracts relating to outstanding Indebtedness, including financial instruments of indenture or security instruments (typically interest-bearing) such as notes, mortgages, loans and lines of credit, except any such Contract with an aggregate outstanding principal amount not exceeding US$2,500,000; </font>
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          <font style="letter-spacing:0.2pt;">(xvii)&nbsp;&nbsp;&nbsp;any Contract entered into since January&#160;26, 2021 involving a loan or advance to, or investment in, any Person other than the Company Group or any Contract relating to the making of any such loan, advance or investment, in each case individually or in the aggregate in excess of US$2,500,000; </font>
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          <font style="letter-spacing:0.2pt;">(xviii)&nbsp;&nbsp;&nbsp;any Contract relating to the voting or control of the equity interests of the Company Group or the election of directors of the Company (other than the Organizational Documents of the Company Group); </font>
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          <font style="letter-spacing:0.2pt;">(xix)&nbsp;&nbsp;&nbsp;any Contract that can be terminated, or the provisions of which are altered, as a result of the consummation of the transactions contemplated by this Agreement or any of the Additional Agreements to which the Company Group is a party; </font>
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          <font style="letter-spacing:0.2pt;">(xx)&nbsp;&nbsp;&nbsp;any Contract with any Authority; </font>
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          <font style="letter-spacing:0.2pt;">A-24</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="t5APS">&#8203;</a><a name="t5WL">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">(xxi)&nbsp;&nbsp;&nbsp;any Contract relating to or in connection with any resolution or settlement of any actual or threatened Action in excess of US$500,000; and </font>
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          <font style="letter-spacing:0.2pt;">(xxii)&nbsp;&nbsp;&nbsp;any Contract for which any of the benefits, compensation or payments (or the vesting thereof) with respect to a director, officer, employee or consultant of a member of Company Group will be increased or accelerated by the consummation of the transactions contemplated hereby or the amount or value thereof will be calculated on the basis of any of the transactions contemplated by this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Except as would not reasonably be expected to be, individually or in the aggregate, material to the Company Group or as set forth on Section&#160;5.15(b) of the Company Disclosure Schedule, (i)&#160;each Material Contract is a valid and binding agreement, and is in full force and effect, and neither the Company Group nor, to the Company Group&#8217;s knowledge, any other party thereto, is in breach or default (whether with or without the passage of time or the giving of notice or both) under the terms of any such Material Contract, (ii)&#160;the Company Group has not assigned, delegated, or otherwise transferred any of its rights or obligations with respect to any Material Contracts, or granted any power of attorney with respect thereto or to any of the Company Group&#8217;s assets, and (iii)&#160;no Contract (A)&#160;requires the Company Group to post a bond or deliver any other form of security or payment to secure its obligations thereunder or (B)&#160;imposes any non-competition covenants that may be binding on, or restrict the business or require any payments by or with respect to SPAC or any of its Affiliates. The Company Group previously provided to the SPAC Parties true and correct fully executed copies of each written Material Contract. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Except as would not reasonably be expected to be, individually or in the aggregate, material to the Company Group or as set forth on Section&#160;5.15(c) of the Company Disclosure Schedule, none of the execution, delivery or performance by the Company Group of this Agreement or Additional Agreements to which the Company Group is a party or the consummation by the Company Group of the transactions contemplated hereby or thereby constitutes a default under or gives rise to any right of termination, cancellation or acceleration of any obligation of the Company or to a loss of any benefit to which the Company Group is entitled under any provision of any Material Contract. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Except as would not reasonably be expected to be, individually or in the aggregate, material to the Company Group or set forth in Section&#160;5.15(d) of the Company Disclosure Schedule, the Company Group is in compliance with all covenants, including all financial covenants, in all notes, indentures, bonds and other instruments or agreements evidencing any Indebtedness. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;Each of the transactions between the Company Group and any Company Shareholder, officer, employee or director of the Company Group or any Affiliate of any such Person entered into or occurring prior to the Closings is duly approved by the board of directors to the extent such approval is required under the Organizational Documents of such Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.16&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Licenses and Permits</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Section&#160;5.16 of the Company Disclosure Schedule correctly lists each material license, franchise, permit, order or approval or other similar authorization affecting, or relating in any way to, the business conducted by the Company Group, together with the name of the Authority issuing the same (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Permits</font><font style="letter-spacing:0.2pt;">&#8221;). Such Permits are valid and in full force and effect in material respects, and none of the Permits will be terminated or impaired or become terminable as a result of the transactions contemplated hereby. The Company Group has all material Permits, governmental licenses, franchises, authorisations, consents and approved necessary or required to own and operate its properties and assets and to carry on the business currently conducted. </font>
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          <font style="letter-spacing:0.2pt;">5.17&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Compliance with Laws</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Except as set forth in Section&#160;5.17(a) of the Company Disclosure Schedule, (i)&#160;the Company Group is not in violation of, has not violated, and to the Company Group&#8217;s knowledge, is neither under investigation with respect to nor has been threatened to be charged with or given notice of any violation or alleged violation of, any Law, or judgment, order or decree entered by any court, arbitrator or Authority, domestic or foreign in any material respect, nor is there any basis for any such charge and since January&#160;26, 2021 the Company Group has not received any subpoenas by any Authority; (ii)&#160;all material approvals, permits, licenses and registrations required under all applicable Laws for the due and proper establishment and operation of each Company Group have been duly obtained from the relevant </font>
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          <font style="letter-spacing:0.2pt;">Authorities or completed in accordance with the relevant Laws, and are in full force and effect; (iii)&#160;the Company Group has all approvals, permits, licenses and registrations necessary for the conduct of its business as currently conducted and is in compliance thereof in all material respects. In respect of the approvals, permits, licenses and registrations requisite for the conduct of any part of the business of the Company Group which are subject to periodic renewal, the Company Group has no reason to believe that such requisite renewals will not be timely granted by the relevant Authorities. The Company Group has been conducting and will conduct its business activities within the permitted scope of business, and has been operating or will operate its business in full compliance in all material respects with all relevant legal requirements and with all requisite approvals, permits, licenses and registrations granted by the competent Authorities. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;In connection with its collection, storage, use, processing and/or disclosure of any information that constitutes &#8220;personal information,&#8221; &#8220;personal data&#8221; or &#8220;personally identifiable information&#8221; as defined in applicable Laws (collectively &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Personal Information</font><font style="letter-spacing:0.2pt;">&#8221;) by or on behalf of any Company Group, the Company Group is and has been in compliance with (i)&#160;all applicable Laws (including, without limitation, Laws relating to privacy, personal data protection, use of data, data security, telephone and text message communications, and marketing by email or other channels) in all relevant jurisdictions, (ii)&#160;the Company Group&#8217;s privacy policies and public written statements regarding the Company Group&#8217;s privacy or data security practices, and (iii)&#160;the requirements of any contract codes of conduct or industry standards by which any Company Group is bound. The Company Group maintains and has maintained reasonable physical, technical, organizational and administrative security measures and policies designed to protect all Personal Information owned, stored, used, processed, maintained or controlled by or on behalf of the Company Group from and against unlawful, accidental or unauthorized access, destruction, loss, use, modification and/or disclosure. The Company Group is and has been in compliance in all material respects with all Laws relating to data loss, theft and breach of security notification obligations. To the knowledge of the Company Group, there has been no occurrence of (x)&#160;unlawful, accidental or unauthorized destruction, loss, use, processing, modification or disclosure of or access to Personal Information owned, stored, used, processed, maintained or controlled by or on behalf of the Company Group which require or required the Company Group to notify Authorities, affected individuals or other parties of such occurrence or (y)&#160;unauthorized access to or disclosure of the Company Group&#8217;s confidential information or trade secrets. No material Actions are pending or, to the knowledge of the Company, threatened in writing against the Company Group relating to the collection, use, dissemination, storage and protection of personal data. </font>
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          <font style="letter-spacing:0.2pt;">5.18&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Intellectual Property</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Section&#160;5.18(a) of the Company Disclosure Schedule sets forth a true, correct and complete list of all material Intellectual Property Rights of the Company Group, including all material Intellectual Property Right owned (including partially owned) and in process of registration or application by the Company Group, specifying as to each, as applicable: (i)&#160;the nature of such Intellectual Property Right; (ii)&#160;the owner or applicant of such Intellectual Property Right; (iii)&#160;the jurisdictions by or in which such Intellectual Property Right has been issued or registered or in which an application for such issuance or registration has been filed; and (iv)&#160;licenses, sublicenses and other agreements pursuant to which any Person is authorized to use such Intellectual Property Rights. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Except as would not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect, the Company Group owns free and clear of all Liens, or has the valid right or license to use, all products, materials, scripts, pictures, software, tools, software tools, computer programs, specifications, source code, object code, improvements, discoveries, user interfaces, software, Internet domain names, enterprise or business names, logos, data, information and inventions, and all documentation and media constituting, describing or relating to the foregoing that is required or used in its business as currently conducted or as proposed to be conducted together with all Intellectual Property Rights in or to all of the foregoing. None of the material Intellectual Property Rights owned by the Company Group is subject to any Contract or other material obligation as a result of any funding or support from, or any arrangement with, any Authority or agency or nonprofit organization. No material Intellectual Property Right owned by the Company Group is the subject of any current opposition, cancellation, or similar proceeding before any Authority other than proceedings involving the </font>
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          <font style="letter-spacing:0.2pt;">examination of applications for registration of Intellectual Property Right (e.g., patent prosecution proceedings, trademark prosecution proceedings, and copyright prosecution proceedings). The Company Group is not subject to (i)&#160;any injunction or other specific judicial, administrative, or other Order that restricts or impairs its ownership, registrability, enforceability, use or distribution of any material Intellectual Property Right owned by the Company Group, or (ii)&#160;any current proceeding that the Company reasonably expects would adversely affect the validity, use or enforceability of any material Intellectual Property Right owned by the Company Group, in each case since January&#160;26, 2021. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;To the knowledge of the Company Group, the use of any Intellectual Property Rights in connection with the operation of businesses or otherwise by the Company Group does not infringe upon, misappropriate, or otherwise violate and has not infringed upon, misappropriated or otherwise violated the Intellectual Property Rights of any Person or any applicable Law in any material respect and is in accordance, in all material respects, with any applicable license pursuant to which the Company Group acquired the right to use such Intellectual Property Rights. Since January&#160;26, 2021, there has been no material Action or, to the knowledge of the Company Group, threatened, against the Company Group alleging that the conduct of the business or activities of the Company Group (including the commercialization and exploitation of their products and services) is infringing upon, misappropriating or otherwise violating or has infringed upon, misappropriated or otherwise violated any Intellectual Property Right of any person, nor are there any facts or circumstances that would form the basis for any such Action. To the knowledge of the Company Group, no Person (including current and former officers, employees, consultants and contractors of the Company Group) is currently infringing or misappropriating any material Intellectual Property Rights owned or purported to be owned by the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;All employees, agents, consultants or contractors who have contributed to or participated in the creation or development of any material copyrights, patents or trade secrets on behalf of the Company Group or any predecessor in interest thereto either: (i)&#160;is a party to a &#8220;work-for-hire&#8221; agreement under which the Company Group is deemed to be the original owner/author of all property rights therein; or (ii)&#160;has executed an assignment or an agreement to assign in favor of the Company Group (or such predecessor in interest, as applicable) all right, title and interest in such material. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;None of the execution, delivery or performance by the Company Group of this Agreement or any of the Additional Agreements to which the Company Group is a party or the consummation by the Company Group of the transactions contemplated hereby or thereby will cause any item of Intellectual Property Rights owned, licensed, used or held for use by the Company Group immediately prior to the Closings to not be owned, licensed or available for use by the Company Group on substantially the same terms and conditions immediately following the Closings in any material respect. </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;The Company Group has taken commercially reasonable measures, consistent with industry practices of companies offering similar services, to safeguard and maintain the confidentiality and value of all trade secrets and other items of Intellectual Property Rights owned by the Company Group that are confidential and all other confidential information, data and materials licensed by the Company Group or otherwise used in the operation of the business. To the knowledge of the Company Group, (A)&#160;there has been no unauthorized disclosure or use of any Person&#8217;s trade secrets by any officer, employee, contractor, or consultant of the Company Group, and none of the Company Group&#8217;s trade secrets have been disclosed to any Person except pursuant to valid and appropriate written non-disclosure agreements or license agreements, and (B)&#160;there has been no material breach of the Company Group&#8217;s security measures wherein any trade secrets have been disclosed or may have reasonably been disclosed without authorization to any Person. </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;The Company Group has established and implemented, and, to the knowledge of the Company, is operating in material compliance with, policies, programs and procedures that are commercially reasonable, consistent with industry practices or companies offering similar services. The Company Group maintains security controls, consistent with industry practices or companies offering similar services, for all material information technology systems owned by the Company Group, including computer hardware, software, networks, information technology systems, electronic data processing systems, telecommunications networks, network equipment, interfaces, platforms, peripherals, and data or information contained therein or transmitted thereby, including any outsourced systems and processes </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="t5AS">&#8203;</a><a name="t5RAP">&#8203;</a><a name="t5EAS1">&#8203;</a><a name="t522">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">(collectively, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Computer Systems</font><font style="letter-spacing:0.2pt;">&#8221;). Since January&#160;26, 2021, the Computer Systems have not suffered any material failures, breakdowns, continued substandard performance, unauthorized intrusions, or other adverse events affecting any such Computer Systems that, in each case, have caused any substantial disruption of or interruption in or to the business operated by the Company Group and the use of such Computer Systems. </font>
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          <font style="letter-spacing:0.2pt;">(h)&nbsp;&nbsp;&nbsp;No material software within the Intellectual Property Rights owned by the Company Group is currently or was in the past distributed or used by the Company Group with any open source software in a manner that requires any such software to be dedicated to the public domain, disclosed, distributed in source code form, made available at no charge, or reverse engineered. </font>
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          <font style="letter-spacing:0.2pt;">5.19&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Customers and Suppliers</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;None of the Company Group&#8217;s ten (10) largest suppliers, as measured by the dollar amount of purchases therefrom or thereby for the first six (6)&#160;months ended June&#160;30, 2021, has (i)&#160;terminated its relationship with the Company Group, (ii)&#160;materially reduced its business with the Company Group or materially and adversely modified its relationship with the Company Group, (iii)&#160;notified the Company Group in writing of its intention to take any such action, or (iv)&#160;to the knowledge of the Company Group, become insolvent or subject to bankruptcy proceedings. </font>
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          <font style="letter-spacing:0.2pt;">5.20&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Accounts Receivable and Payable; Loans</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;To the Company&#8217;s knowledge, all accounts receivables and notes of the Company Group reflected on the Financial Statements, and all accounts receivable and notes arising subsequent to the date thereof, represent valid obligations arising from services actually performed or goods actually sold by the Company Group in the ordinary course of business consistent with past practice. To the Company&#8217;s knowledge, the accounts payable of the Company Group reflected on the Financial Statements, and all accounts payable arising subsequent to the date thereof, arose from bona fide transactions in the ordinary course consistent with past practice. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;There is no material contest, claim, or right of setoff in any agreement with any maker of an account receivable or note relating to the amount or validity of such account receivable or note. To the Company&#8217;s knowledge, except as set forth in Section&#160;5.20(b) of the Company Disclosure Schedule, all account receivable or notes are good and collectible in the ordinary course of business. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;The information set forth on Section&#160;5.20(c) of the Company Disclosure Schedule separately identifies any and all accounts receivables or notes of the Company Group which are owed by any Affiliate of the Company Group as of the Balance Sheet Date. Except as set forth on Section&#160;5.20(c) of the Company Disclosure Schedule, the Company Group is not indebted to any of its Affiliates and no Affiliates are indebted to the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.21&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Pre-payments</font><font style="letter-spacing:0.2pt;">. Except as set forth on Section&#160;5.21 of the Company Disclosure Schedule, the Company Group has not received any payments with respect to any services to be rendered or goods to be provided after the Closings except in the ordinary course of business. </font>
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          <font style="letter-spacing:0.2pt;">5.22&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Employees</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Section&#160;5.22(a) of the Company Disclosure Schedule sets forth a true, correct and complete list of those employees designated by the Company Group as key personnel of the Company Group (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Key Personnel</font><font style="letter-spacing:0.2pt;">&#8221;), setting forth the name, title for each such person. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Except as set forth on Section&#160;5.22(b) of the Company Disclosure Schedule, the Company Group is not a party to or subject to any, collective bargaining agreement, non-competition agreement restricting the activities of the Company Group, or any similar agreement, and there has been no activity or proceeding by a labor union or representative thereof to organize any employees of the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;There are no pending or, to the knowledge of the Company Group, threatened Actions against the Company Group under any worker&#8217;s compensation policy or long-term disability policy. </font>
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          <font style="letter-spacing:0.2pt;">A-28</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="t52MA">&#8203;</a><a name="t5EAD">&#8203;</a><a name="t52PR">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">5.23&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Employment Matters</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Section&#160;5.23(a) of the Company Disclosure Schedule sets forth a true and complete list of (i)&#160;the form of employment agreement, confidentiality, non-competition and intellectual right agreement and if applicable, commission agreement to be signed with the employees (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Labor Agreements</font><font style="letter-spacing:0.2pt;">&#8221; ), and (ii)&#160;each employee group or executive medical, life, or disability insurance plan, and each incentive, bonus, profit sharing, retirement, deferred compensation, equity, phantom stock, stock option, stock purchase, stock appreciation right or severance plan of the Company Group now in effect or under which the Company Group has any obligation, or any understanding between the Company Group and any employee concerning the terms of such employee&#8217;s employment that does not apply to the Company Group&#8217;s employees generally. The Company Group has previously delivered to the SPAC Parties true and complete copies of such forms of the Labor Agreements and each generally applicable employee handbook or policy statement of the Company Group. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Except as would not reasonably be expected to, individually or in aggregate, have a Material Adverse Effect, to the knowledge of the Company Group, no current employee of the Company Group, in the ordinary course of his or her duties, has breached any obligation to a former employer in respect of any covenant against competition or soliciting clients or employees or servicing clients or confidentiality or any proprietary right of such former employer. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Except as would not reasonably be expected to, individually or in aggregate, have a Material Adverse Effect, the Company Group is in compliance with all applicable Laws regarding employment and employment practices, including, without limitation, all laws respecting terms and conditions of employment, health and safety, employee classification, non-discrimination, wages and hours, immigration, disability rights or benefits, equal opportunity, plant closures and layoffs, affirmative action, workers&#8217; compensation, labor relations, employee leave issues, the proper classification of employees and independent contractors, and unemployment insurance. The Company Group is not a party to any collective bargaining agreement, does not have any material labor relations disputes, and there is no pending representation question or union organizing activity respecting employees of the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.24&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Withholding</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as disclosed on Section&#160;5.24 of the Company Disclosure Schedule, all obligations of the Company Group applicable to its employees, whether arising by operation of Law, by contract, by past custom or otherwise, or attributable to payments by the Company Group to trusts or other funds or to any governmental agency, with respect to unemployment compensation benefits, social security benefits, social insurance, housing fund contributions or any other benefits for its employees with respect to the employment of said employees through the date hereof have been paid or adequate accruals therefor have been made on the Financial Statements in all material respects. Except as disclosed on Section&#160;5.24 of the Company Disclosure Schedule, all reasonably anticipated material obligations of the Company Group with respect to such employees, whether arising by operation of Law, by contract, by past custom, or otherwise, for salaries and holiday pay, bonuses and other forms of compensation payable to such employees (except for those related to wages during the pay period immediately prior to the Closing Date and arising in the ordinary course of business) in respect of the services rendered by any of them prior to the date hereof have been or will be paid by the Company Group prior to the Closing Date. </font>
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          <font style="letter-spacing:0.2pt;">5.25&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Real Property</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Except as disclosed in Section&#160;5.25(a) of the Company Disclosure Schedule, the Company Group does not own and has not owned any Owned Real Property. Other than as would not be reasonably expected to, individually or in the aggregate, have a Material Adverse Effect, the Company Group has good title to the Owned Real Property described in Section&#160;5.25(a) of the Company Disclosure Schedule, free and clear of all Liens (except for the Permitted Liens). </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Section&#160;5.25(b) of the Company Disclosure Schedule sets forth the address of each Leased Real Property. The Company has made available to SPAC true and complete copies of all Leases under which the Company Group uses or occupies or has the right to use or occupy any Leased Real Property. Except as would not be material to the Company Group and to the knowledge of the Company Group, (i)&#160;the Company Group has a good and valid leasehold or subleasehold interest in each relevant parcel of </font>
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          <font style="letter-spacing:0.2pt;">A-29</font>
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          <font style="letter-spacing:0.2pt;">the Leased Real Property, free and clear of all Liens; (ii)&#160;each Lease is legal, valid, binding, enforceable and in full force and effect; (iii)&#160;the Company Group has not subleased, licensed or otherwise granted any Person the right to use or occupy such Leased Real Property or any portion thereof; (iv)&#160;the Company Group has not collaterally assigned or granted any other security interest in such Lease or any interest therein; (v)&#160;the Company Group&#8217;s possession and quiet enjoyment of the Leased Real Property under such Lease has not been disturbed, and there are no disputes with respect to such Lease; and (vi)&#160;the Company Group is not in breach or violation of, or default under any Lease and to the knowledge of the Company Group, no event has occurred or circumstance exists which, with the delivery of notice, the passage of time or both, would constitute such a breach or default, or permit the termination, modification or acceleration of rent under such Lease. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;As of the date hereof, no party to any Lease has given written notice to the Company Group of, or made a written claim against the Company Group with respect to, any breach or default thereunder. As of the date hereof, the Company Group has not received written notice of the existence of any outstanding Order, and, to the knowledge of the Company Group, there is no such Order threatened, relating to the ownership, lease, use, occupancy or operation by any Person of any Leased Real Property. </font>
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          <font style="letter-spacing:0.2pt;">5.26&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Tax Matters</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Except in each case as to matters that would not, individually or in the aggregate, be material to the Company Group, (i)&#160;each of the Company and its Subsidiaries has duly and timely filed all Tax Returns which are required to be filed by or with respect to it, and has paid all Taxes which have become due; (ii)&#160;all such Tax Returns are true, correct and complete and accurate and disclose all Taxes required to be paid; (iii)&#160;except as set forth on Section&#160;5.26(a) of the Company Disclosure Schedule, all such Tax Returns have been examined by the relevant Taxing Authority or the period for assessment for Taxes in respect of such Tax Returns has expired; (iv)&#160;there is no Action, pending or proposed in writing or, to the knowledge of the Company Group, threatened, with respect to Taxes of the Company or any Subsidiary or for which a Lien may be imposed upon any of the Company Group&#8217;s assets; (v)&#160;no statute of limitations in respect of the assessment or collection of any Taxes of the Company or any Subsidiary for which a Lien may be imposed on any of the Company Group&#8217;s assets has been waived or extended, which waiver or extension is in effect, except for automatic extensions of time to file Tax Returns obtained in the ordinary course of business; (vi)&#160;the Company and each Subsidiary has complied with all applicable Laws relating to the reporting, payment, collection and withholding of Taxes and has duly and timely withheld or collected, paid over to the applicable Taxing Authority and reported all Taxes (including income, social, security and other payroll Taxes) required to be withheld or collected by the Company or any Subsidiary; (vii)&#160;none of the assets of the Company Group is required to be treated as owned by another Person for U.S. federal income Tax purposes pursuant to Section&#160;168(f)(8) of the Code (as in effect prior to its amendment by the Tax Reform Act of 1986); (viii)&#160;there is no Lien (other than Permitted Liens) for Taxes upon any of the assets of the Company Group; (ix)&#160;there is no outstanding request for a ruling from any Taxing Authority, request for a consent by a Taxing Authority for a change in a method of accounting, subpoena or request for information by any Taxing Authority, or closing agreement with any Taxing Authority (within the meaning of Section&#160;7121 of the Code or any analogous provision of the applicable Law), with respect to the Company or any Subsidiary; (x)&#160;except as set forth on Section&#160;5.26(a) of the Company Disclosure Schedule, no claim has been made by a Taxing Authority in a jurisdiction where the Company or any Subsidiary has not paid any tax or filed Tax Returns, asserting that the Company or a Subsidiary is or may be subject to Tax in such jurisdiction; (xi)&#160;there is no outstanding power of attorney from the Company or any Subsidiary authorizing anyone to act on behalf of the Company or a Subsidiary in connection with any Tax, Tax Return or Action relating to any Tax or Tax Return of the Company or any Subsidiary; (xii)&#160;none of the Company or any Subsidiary is, or has ever been, a party to any Tax sharing or Tax allocation Contract, other than any customary commercial contract the principal subject of which is not Taxes; and (xiii)&#160;none of the Company or any Subsidiary is currently or has ever been included in any consolidated, combined or unitary Tax Return other than a Tax Return that includes only the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The unpaid Taxes of the Company Group for the current fiscal year did not, as of the most recent fiscal month end, exceed the reserve for Tax liability (other than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the Financial Statements. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="t52LA">&#8203;</a><a name="t5OAA">&#8203;</a><a name="t5AOS">&#8203;</a><a name="t5INT">&#8203;</a><a name="t5BPT">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;The Company is not aware of the existence of any fact, or any action it has taken (or failed to take) or agreed to take, that would reasonably be expected to prevent or impede any of the Mergers from qualifying for the Intended Tax Treatment. This Section&#160;5.26(c) shall not apply to any fact or action specifically contemplated under this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">5.27&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Environmental Laws</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Except as set forth on Section&#160;5.27(a) of the Company Disclosure Schedule, the Company Group has not (i)&#160;received any written notice of any alleged claim, violation of or Liability under any Environmental Law which has not heretofore been cured or for which there is any remaining liability; (ii)&#160;disposed of, emitted, discharged, handled, stored, transported, used or released any Hazardous Materials, arranged for the disposal, discharge, storage or release of any Hazardous Materials, or exposed any employee or other individual to any Hazardous Materials so as to give rise to any Liability or corrective or remedial obligation under any Environmental Laws; or (iii)&#160;entered into any agreement that may require it to guarantee, reimburse, pledge, defend, hold harmless or indemnify any other Person with respect to liabilities arising out of Environmental Laws or the Hazardous Materials Activities of the Company Group, except in each case as would not be material to the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Except as set forth on Section&#160;5.27(b) of the Company Disclosure Schedule, the Company Group has been and is in compliance in all material respects with all Environmental Laws, including obtaining and complying with all Permits required pursuant to Environmental Laws. No Company Group is required by any Environmental Law (a)&#160;to perform an environmental audit or environmental assessment for Hazardous Materials, or (b)&#160;to record or deliver to any Person any disclosure document or statement pertaining to environmental matters. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Except as set forth on Section&#160;5.27(c) of the Company Disclosure Schedule, the Company Group (or any other Person to the extent giving rise to liability for the Company Group) has not manufactured, distributed, treated, stored, disposed of, arranged for or permitted the disposal of, transported, handled, released, or exposed any Person to, or owned or operated any property or facility which is or has been contaminated by, any Hazardous Materials, in each case, so as to give rise to any material liability (contingent or otherwise) to the Company Group, taken as a whole, under any Environmental Laws. </font>
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          <font style="letter-spacing:0.2pt;">5.28&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Powers of Attorney and Suretyships</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as set forth on Section&#160;5.28 of the Company Disclosure Schedule, the Company Group does not have any general or special powers of attorney outstanding (whether as grantor or grantee thereof) outside the Company Group or any obligation or liability (whether actual, accrued, accruing, contingent, or otherwise) as guarantor, surety, co-signer, endorser, co-maker, indemnitor or otherwise in respect of the obligation of any Person outside the Company Group or other than as reflected in the Financial Statements. </font>
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          <font style="letter-spacing:0.2pt;">5.29&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Directors and Officers</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Section&#160;5.29 of the Company Disclosure Schedule sets forth a true, correct and complete list of all directors and officers of the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.30&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Other Information</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Neither this Agreement nor any of the documents or other information made available to the SPAC Parties or their Affiliates, attorneys, accountants, agents or representatives pursuant hereto or in connection with SPAC&#8217;s due diligence review of the business, assets, capitalization and other matters of the Company Group or the transactions contemplated by this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained therein not misleading. The Company Group has provided the SPAC Parties with all requested material information regarding the business conducted by the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">5.31</font>
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          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Certain Business Practices</font><font style="letter-spacing:0.2pt;">. The Company Group, its officers, directors, employees, and to the knowledge of the Company Group, its agents, representatives or other persons acting on its behalf, have complied with and are in compliance in all respects with Anti-Corruption Laws. Neither the Company Group nor any of its officers, directors, employees, nor to the knowledge of the Company Group, any of its agents, representatives or other persons acting on its behalf, (i)&#160;has offered, promised, given or authorized the giving of money or anything else of value, whether directly or through another person or entity, to (A)&#160;any Government Official or (B)&#160;any other Person with the knowledge that all or any portion of the money or thing of value will be offered or given to a Government Official, in each of the foregoing clauses (A)&#160;and </font>
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          <font style="letter-spacing:0.2pt;">(B)&#160;for the purpose of influencing any action or decision of the Government Official in his or her official capacity, including a decision to fail to perform his or her official duties, inducing the Government Official to use his or her influence with any Authority to affect or influence any official act, or otherwise obtaining an improper advantage; or (ii)&#160;has or will make or authorize any other person to make any payments or transfers of value which have the purpose or effect of commercial bribery, or acceptance or acquiescence in kickbacks or other unlawful or improper means of obtaining or retaining business. The Company Group has in place policies, procedures and controls that are reasonably designed to promote and ensure compliance with Anti-Corruption Laws. </font>
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          <font style="letter-spacing:0.2pt;">5.32&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Sanctions; Anti-Money Laundering</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Neither the Company Group nor, to the knowledge of the Company Group, any of the Company Group&#8217;s Affiliates or its or their directors, officers, employees, agents or representatives, is, or is owned or controlled by one or more Persons that are: (i)&#160;the subject of any sanctions administered by the U.S. Department of Treasury&#8217;s Office of Foreign Assets Control (OFAC) or the U.S. Department of State, the United Nations Security Council, the European Union, or other relevant sanctions authority (collectively, &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Sanctions</font><font style="letter-spacing:0.2pt;">&#8221;), or (ii)&#160;located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea, and Syria) or has conducted business with any Person or entity or any of its respective officers, directors, employees, agents, representatives or other Persons acting on its behalf that is located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea, and Syria). The operations of the Company Group are and have been conducted at all times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company Group conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Authority (collectively, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Anti-Money Laundering Laws</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">5.33&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Not an Investment Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company is not an &#8220;investment company&#8221; within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder. </font>
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          <font style="letter-spacing:0.2pt;">5.34&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Insurance</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Except as would not be material, individually or in the aggregate, to the Company Group: (a)&#160;all of the insurance policies held by, or forth benefit of, the Company Group with respect to policy periods that include the date of this Agreement are in full force and effect, and (b)&#160;the Company Group has not received any written notice of cancellation of any of such policies or of any material changes that are required in the conduct of the business of the Company Group as a condition to the continuation of coverage under, or renewal of, any of such policies. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE VI</font>
          <br >
          <font style="letter-spacing:-0.2pt;">REPRESENTATIONS AND WARRANTIES OF SPAC PARTIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Except as disclosed in the SPAC SEC Documents, SPAC and SPAC Sub, jointly and severally, represent and warrant to the Company that: </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">6.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Corporate Existence and Power</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;SPAC is a business company duly incorporated, validly existing and in good standing under the Laws of the British Virgin Islands. SPAC Sub is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands. Each of the SPAC Parties has all requisite power and authority, corporate and otherwise, to own and operate its properties and assets and to carry on its business as presently conducted and as proposed to be conducted. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">6.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Authorization</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each SPAC Party has the requisite power and authority to execute and deliver this Agreement and each Additional Agreement to which it is a party and to perform all obligations to be performed by it hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance by each SPAC Party of this Agreement and the Additional Agreements to which it is a party and the consummation by the SPAC Parties of the transactions contemplated hereby and thereby are within the corporate powers of the SPAC Parties and have been duly authorized by all necessary corporate action on the part of the SPAC Parties, subject to the receipt of the Required SPAC Shareholder Approval. This Agreement has been, and each Additional Agreement (when executed and delivered by relevant SPAC Party) will be, duly and validly executed and delivered by relevant SPAC Party, and </font>
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          <font style="letter-spacing:0.2pt;">A-32</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="t6AOT">&#8203;</a><a name="t6TED">&#8203;</a><a name="t6FTI">&#8203;</a><a name="t66C">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">assuming due and valid authorization, execution and delivery by each other party hereto and thereto, this Agreement constitutes, and each the Additional Agreement (when executed and delivered by applicable SPAC Party) will constitute, a valid and legally binding obligation of the relevant SPAC Party, enforceable against the relevant SPAC Party in accordance with their representative terms subject to the Bankruptcy and Equity Exception. </font>
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          <font style="letter-spacing:0.2pt;">6.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Governmental Authorization</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Other than as required under applicable Laws, neither the execution, delivery nor performance by the SPAC Parties of this Agreement or any Additional Agreements requires any consent, approval, permit, license or other action by or in respect of, or registration, declaration or filing with any Authority. </font>
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          <font style="letter-spacing:0.2pt;">6.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Non-Contravention</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The execution, delivery and performance by any SPAC Party of this Agreement and any Additional Agreements to which it is a party do not and will not (a)&#160;contravene or conflict with the Organizational Documents of relevant SPAC Party, or (b)&#160;contravene or conflict with or constitute a violation of any provision of any Law or Order binding upon or applicable to relevant SPAC Party, except, in cases of (b), for such contravention or conflict that would not reasonably be expected to have a material adverse effect on the ability of the SPAC Parties to consummate the transactions contemplated by this Agreement or any of the Additional Agreements. </font>
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          <font style="letter-spacing:0.2pt;">6.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Finders&#8217; Fees</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;There is no investment banker, broker, finder or other intermediary which has been retained by or is authorized to act on behalf of SPAC or other Affiliates who might be entitled to any fee or commission from the Company, or any of its Affiliates upon consummation of the transactions contemplated by this Agreement or any of the Additional Agreements. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">6.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Capitalization</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;As of the date hereof, SPAC is authorized to issue a maximum of 111,000,000 shares with no par value divided into three classes of shares, namely, (i)&#160;100,000,000 SPAC Class&#160;A Ordinary Shares with no par value, (ii)&#160;10,000,000 SPAC Class&#160;B Ordinary Shares with no par value, and (iii)&#160;1,000,000 preferred shares with no par value, of which 6,100,000 SPAC Class&#160;A Ordinary Shares (5,750,000 shares of which are subject to redemption) and 1,437,500 SPAC Class&#160;B Ordinary Shares are issued and outstanding. As of the date hereof, 604,250 SPAC Ordinary Shares are reserved for issuance with respect to SPAC Rights. No other shares of capital stock or other voting securities of SPAC are issued, reserved for issuance or outstanding. All issued and outstanding SPAC Ordinary Shares are duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, right of first refusal, preemptive right, subscription right or any similar right under any provision of Laws of British Virgin Islands, SPAC&#8217;s Organizational Documents or any contract to which SPAC is a party or by which SPAC is bound. Except as set forth in SPAC&#8217;s Organizational Documents, there are no outstanding contractual obligations of SPAC to repurchase, redeem or otherwise acquire any SPAC Ordinary Shares or any capital equity of SPAC. There are no outstanding contractual obligations of SPAC to provide funds to, or make any investment (in the form of a loan, capital contribution or otherwise) in, any other Person. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The authorized share capital of SPAC Sub is US$50,000 divided into 500,000,000 ordinary shares, par value US$0.0001 per share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Sub Ordinary Shares</font><font style="letter-spacing:0.2pt;">&#8221;) of which one (1)&#160;SPAC Sub Ordinary Share is issued and outstanding as of the date hereof. No other shares or other voting securities of SPAC Sub are issued, reserved for issuance or outstanding. All issued and outstanding SPAC Sub Ordinary Share(s) are duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, right of first refusal, preemptive right, subscription right or any similar right under any provision of Cayman Islands Law, SPAC Sub&#8217;s Organizational Documents or any contract to which SPAC Sub is a party or by which SPAC Sub is bound. Except as set forth in SPAC Sub&#8217;s Organizational Documents, there are no outstanding contractual obligations of SPAC Sub to repurchase, redeem or otherwise acquire any SPAC Sub Ordinary Share(s) or any share capital or equity of SPAC Sub. There are no outstanding contractual obligations of SPAC Sub to provide funds to, or make any investment (in the form of a loan, capital contribution or otherwise) in, any other Person. </font>
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          <font style="letter-spacing:0.2pt;">6.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Trust Fund</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;As of the date of this Agreement, SPAC has at least US$57,500,000 in the trust fund established by SPAC for the benefit of its public shareholders in a United States-based account located in the United States, maintained by the Trustee (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Trust Account</font><font style="letter-spacing:0.2pt;">&#8221;), and such monies are invested in &#8220;government securities&#8221; &#8203;(as such term is defined in the Investment Company Act of 1940, as amended) and held in trust by the Trustee pursuant to the Investment Management Trust Agreement. There are no separate agreements, side letters or other agreements or understandings (whether written, unwritten, express or implied) that would cause the description of the Trust Agreement in the SPAC SEC Documents to be inaccurate in any material respect or, to the SPAC Parties&#8217; knowledge, that would entitle any Person to any portion of the funds in the Trust Account. Prior to the Closings, none of the funds held in the Trust Account are permitted to be released, except in the circumstances described in the Organizational Documents of SPAC and the Trust Agreement. SPAC has performed all material obligations required to be performed by it to date under, and is not in material default or delinquent in performance or any other respect (claimed or actual) in connection with the Trust Agreement, and, to the knowledge of SPAC, no event has occurred which, with due notice or lapse of time or both, would constitute such a material default thereunder. As of the date of this Agreement, there are no claims or proceedings pending with respect to the Trust Account. Since the consummation of the IPO, SPAC has not released any money from the Trust Account (other than interest income earned on the funds held in the Trust Account as permitted by the Trust Agreement). Upon the consummation of the transactions contemplated hereby, SPAC shall have no further obligation under either the Trust Agreement or the Organizational Documents of SPAC to liquidate or distribute any assets held in the Trust Account, and the Trust Agreement shall terminate in accordance with its terms. </font>
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          <font style="letter-spacing:0.2pt;">6.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Listing</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;As of the date hereof, SPAC Units, SPAC Class&#160;A Ordinary Shares and SPAC Rights are listed on the Nasdaq Capital Market, with trading symbols &#8220;BSGAU&#8221;, &#8220;BSGA&#8221; and &#8220;BSGAR.&#8221; </font>
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          <font style="letter-spacing:0.2pt;">6.9&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Reporting Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;SPAC is a publicly-held company subject to reporting obligations pursuant to Section&#160;13 of the Exchange Act, and the SPAC Ordinary Shares are registered pursuant to Section&#160;12(b) of the Exchange Act. </font>
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          <font style="letter-spacing:0.2pt;">6.10&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Board Approval</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each of the board of directors of SPAC (including any required committee or subgroup of such boards) and the sole director of SPAC Sub have (i)&#160;declared the advisability of the transactions contemplated by this Agreement, (ii)&#160;determined that the transactions contemplated hereby are in the best interests of the shareholders of the SPAC Parties, as applicable, and (iii)&#160;solely with respect to the board of directors of SPAC, determined that the transactions contemplated hereby constitutes a &#8220;Business Combination&#8221; as such term is defined in SPAC&#8217;s Organizational Documents. </font>
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          <font style="letter-spacing:0.2pt;">6.11&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC SEC Documents and Financial Statements</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;SPAC has filed in a timely manner all required registration statements, reports, schedules, forms, statements and other documents required to be filed by it with the SEC since June&#160;9, 2021 (collectively, as they have been amended since the time of their filing and including all exhibits, amendments, restatements or supplements thereto, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC SEC Documents</font><font style="letter-spacing:0.2pt;">&#8221;). None of the SPAC SEC Documents, as of their respective dates (or if amended or superseded by a filing prior to the date of this Agreement or the Closing Date, then on the date of such filing), contained 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 made therein, in light of the circumstances under which they were made, not misleading. As used herein, the term &#8220;file&#8221; shall be broadly construed to include any manner in which a document or information is furnished, supplied or otherwise made available to the SEC. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The audited financial statements and unaudited interim financial statements (including, in each case, the notes and schedules thereto) included in the SPAC SEC Documents complied as to form in all material respects with the published rules and regulations of the SEC with respect thereto, were prepared in accordance with U.S. GAAP applied on a consistent basis during the periods involved (except as may be indicated therein or in the notes thereto and except with respect to unaudited statements as permitted by Form 10-Q of the SEC) and fairly present (subject, in the case of the unaudited interim financial statements included therein, to normal year-end adjustments and the absence of complete footnotes) in all material respects the financial position of SPAC as of the respective dates thereof and the results of their operations and cash flows for the respective periods then ended. </font>
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          <font style="letter-spacing:0.2pt;">6.12&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Litigation</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;There is no Action (or any basis therefore) pending against any SPAC Party, any of its officers or directors or any of its securities or any of its assets or Contracts before any court, Authority or official or which in any manner challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated hereby or by the Additional Agreements, other than as would not, individually or in the aggregate, have a material adverse effect on the ability of the SPAC Parties to consummate the transactions contemplated by this Agreement or any of the Additional Agreements. </font>
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          <font style="letter-spacing:0.2pt;">6.13&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Compliance with Laws</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No SPAC Party is in violation of, has violated, under investigation with respect to any violation or alleged violation of, any Law, or judgment, order or decree entered by any court, arbitrator or Authority, domestic or foreign in any material respect, nor is there any basis for any such charge and no SPAC Party has previously received any subpoenas by any Authority. </font>
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          <font style="letter-spacing:0.2pt;">6.14&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Not an Investment Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;SPAC is not an &#8220;investment company&#8221; within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder. </font>
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          <font style="letter-spacing:0.2pt;">6.15&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Tax Matters</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Except in each case as to matters that would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of the SPAC Parties to consummate the transactions contemplated by this Agreement or any Additional Agreement: (i)&#160;each SPAC Party has duly and timely filed all Tax Returns which are required to be filed by or with respect to it, and has paid all Taxes which have become due; (ii)&#160;all such Tax Returns are true, correct and complete and accurate and disclose all Taxes required to be paid; (iii)&#160;there is no pending or proposed in writing or, to the knowledge of the SPAC Parties, threatened, with respect to Taxes of the SPAC Parties or for which a Lien may be imposed upon any of either of the SPAC Parties&#8217; assets; (iv)&#160;no statute of limitations in respect of the assessment or collection of any Taxes of the SPAC Parties for which a Lien may be imposed on any of the SPAC Parties&#8217; assets has been waived or extended, which waiver or extension is in effect, except for automatic extensions of time to file Tax Returns obtained in the ordinary course of business; (v)&#160;the SPAC Parties complied with all applicable Laws relating to the reporting, payment, collection and withholding of Taxes and has duly and timely withheld or collected, paid over to the applicable Taxing Authority and reported all Taxes (including income, social, security and other payroll Taxes) required to be withheld or collected by the SPAC Parties; (vi)&#160;none of the assets of the SPAC Parties is required to be treated as owned by another Person for U.S. federal income Tax purposes pursuant to Section&#160;168(f)(8) of the Code (as in effect prior to its amendment by the Tax Reform Act of 1986); (vii)&#160;there is no Lien (other than Permitted Liens) for Taxes upon any of the assets of the SPAC Parties; (viii)&#160;there is no outstanding request for a ruling from any Taxing Authority, request for a consent by a Taxing Authority for a change in a method of accounting, subpoena or request for information by any Taxing Authority, or closing agreement with any Taxing Authority (within the meaning of Section&#160;7121 of the Code or any analogous provision of the applicable Law), with respect to the SPAC Parties; (ix)&#160;no claim has been made by a Taxing Authority in a jurisdiction where the SPAC Parties have not paid any tax or filed Tax Returns, asserting that SPAC is or may be subject to Tax in such jurisdiction; (x)&#160;there is no outstanding power of attorney from either of the SPAC Parties authorizing anyone to act on behalf of such party in connection with any Tax, Tax Return or Action relating to any Tax or Tax Return of that party; (xi)&#160;no SPAC Party is, or has ever been, a party to any Tax sharing or Tax allocation Contract, other than any customary commercial contract the principal subject of which is not Taxes; and (xii)&#160;neither SPAC Party is currently or has ever been included in any consolidated, combined or unitary Tax Return other than a Tax Return that includes only the SPAC Parties. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The unpaid Taxes of the SPAC Parties for the current fiscal year did not, as of the most recent fiscal month end, exceed the reserve for Tax liability (other than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the Financial Statements. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;SPAC is not aware of any fact, or any action it has taken (or failed to take) or agreed to take, that would reasonably be expected to prevent or impede any of the Mergers from qualifying for the Intended Tax Treatment. This Section&#160;6.15(c) shall not apply to any fact or action specifically contemplated under this Agreement. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC5">TABLE OF CONTENTS</a><a name="tAVAW2">&#8203;</a><a name="t7EAP">&#8203;</a><a name="t7EAE">&#8203;</a><a name="t7AOT">&#8203;</a><a name="t7TED">&#8203;</a><a name="t7FTI">&#8203;</a><a name="t7OST">&#8203;</a><a name="t77C">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">ARTICLE VII</font>
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          <font style="letter-spacing:-0.2pt;">REPRESENTATIONS AND WARRANTIES OF ACQUISITION ENTITIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Acquisition Entities, jointly and severally, represent and warrant to the Company and SPAC that: </font>
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          <font style="letter-spacing:0.2pt;">7.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Corporate Existence and Power</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each of PubCo and Merger Sub 3 is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands. Each of Merger Sub 1 and Merger Sub 2 is a business company duly incorporated, validly existing and in good standing under the Laws of the British Virgin Islands. Each of the Acquisition Entities has all requisite power and authority, corporate and otherwise, to own and operate its properties and assets and to carry on its business as presently conducted and as proposed to be conducted. </font>
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          <font style="letter-spacing:0.2pt;">7.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Authorization</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each Acquisition Entity has the requisite power and authority to execute and deliver this Agreement and each Additional Agreement to which it is a party and to perform all obligations to be performed by it hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance by each Acquisition Entity of this Agreement and the Additional Agreements to which it is a party and the consummation by the Acquisition Entities of the transactions contemplated hereby and thereby are within the corporate powers of the Acquisition Entities and have been duly authorized by all necessary corporate action on the part of the Acquisition Entities. This Agreement has been, and each Additional Agreement (when executed and delivered by relevant Acquisition Entity) will be, duly and validly executed and delivered by relevant Acquisition Entity, and assuming due and valid authorization, execution and delivery by each other party hereto and thereto, this Agreement constitutes, and each the Additional Agreement (when executed and delivered by applicable Acquisition Entity) will constitute, a valid and legally binding obligation of the relevant Acquisition Entity, enforceable against the relevant Acquisition Entity in accordance with their representative terms subject to the Bankruptcy and Equity Exception. </font>
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          <font style="letter-spacing:0.2pt;">7.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Governmental Authorization</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Other than as required under applicable Laws, neither the execution, delivery nor performance by the Acquisition Entities of this Agreement or any Additional Agreements requires any consent, approval, permit, license or other action by or in respect of, or registration, declaration or filing with any Authority. </font>
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          <font style="letter-spacing:0.2pt;">7.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Non-Contravention</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The execution, delivery and performance by any Acquisition Entity of this Agreement and any Additional Agreements to which it is a party do not and will not (a)&#160;contravene or conflict with the Organizational Documents of relevant Acquisition Entity, or (b)&#160;contravene or conflict with or constitute a violation of any provision of any Law or Order binding upon or applicable to relevant Acquisition Entity, except, in cases of (b), for such contravention or conflict that would not reasonably be expected to have a material adverse effect on the ability of the Acquisition Entities to consummate the transactions contemplated by this Agreement or any of the Additional Agreements. </font>
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          <font style="letter-spacing:0.2pt;">7.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Finders&#8217; Fees</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;There is no investment banker, broker, finder or other intermediary which has been retained by or is authorized to act on behalf of any Acquisition Entity or any of its Affiliates who might be entitled to any fee or commission from the Company, or any of its Affiliates upon consummation of the transactions contemplated by this Agreement or any of the Additional Agreements. </font>
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          <font style="letter-spacing:0.2pt;">7.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Issuance of Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Per Share Merger Consideration, the PubCo Ordinary Shares issuable to SPAC Shareholders and the corresponding ADSs, when issued in accordance with this Agreement, will be duly authorized and validly issued, and will be fully paid and nonassessable, free and clear of any Liens and not subject to or issued in violation of any right of any third party pursuant to any contract to which PubCo bound, applicable Law or PubCo&#8217; Organizational Documents. </font>
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          <font style="letter-spacing:0.2pt;">7.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Capitalization</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;As of the date of this Agreement, the authorized share capital of PubCo consists of one share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PubCo Share</font><font style="letter-spacing:0.2pt;">&#8221;) which is issued and outstanding as of the date of this Agreement. The authorized share capital of Merger Sub 1 consists of one share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 1 Share</font><font style="letter-spacing:0.2pt;">&#8221;) which is issued and outstanding as of the date of this Agreement. The authorized share capital of Merger Sub 2 consists of one share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 2 Share</font><font style="letter-spacing:0.2pt;">&#8221;) which is issued and outstanding as of the date of this Agreement. The authorized share capital of Merger Sub 3 consists of one share (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Merger Sub 3 Share</font><font style="letter-spacing:0.2pt;">&#8221;) which is </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC6">TABLE OF CONTENTS</a><a name="t7ATS">&#8203;</a><a name="t7TIN">&#8203;</a><a name="t7WLN">&#8203;</a><a name="t7AIC">&#8203;</a><a name="t7AEA">&#8203;</a><a name="t7ECE">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">issued and outstanding as of the date of this Agreement. The PubCo Ordinary Share, the Merger Sub 1 Share, the Merger Sub 2 Share and the Merger Sub 3 Share, and any PubCo Ordinary Shares and shares of Merger Sub 1, Merger Sub 2 and Merger Sub 3 that will be issued pursuant to the transactions contemplated under this Agreement, (i)&#160;have been, or will be prior to such issuance, duly authorized and have been, or will be at the time of issuance, validly issued and are fully paid, (ii)&#160;were, or will be, issued, in compliance in all material respects with applicable Law, and (iii)&#160;were not, and will not be, issued in breach or violation of any preemptive rights or Contract. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Except as set forth in Section&#160;7.7(a), (i)&#160;no Acquisition Entity has authorized, outstanding or issued any equity securities; (ii)&#160;no Acquisition Entity is obligated to issue, sell or transfer any equity securities; (iii)&#160;no Acquisition Entity is a party or subject to any Contract that affects or relates to the voting or giving of written consents with respect to, or the right to cause the redemption, or repurchase of, any equity security of such Acquisition Entity; (iv)&#160;no Acquisition Entity has granted any registration rights or information rights to any other Person; (v)&#160;there are no phantom shares and there are no voting or similar agreements entered into by any Acquisition Entity which relate to the share capital, registered capital or charter capital of such Acquisition Entity; and (vi)&#160;no Acquisition Entity has outstanding any bonds, debentures, notes or other obligations the holders of which have the right to vote (or convertible into or exercisable for securities having the right to vote) with the shareholders of such Acquisition Entity on any matter or any agreements to issue such bonds, debentures, notes or other obligations. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;PubCo does not own or control, directly or indirectly, any interest in any corporation, partnership, limited liability company, association or other business entity, other than, (i)&#160;as of the date of this Agreement, Merger Sub 1, Merger Sub 2 and Merger Sub 3, (ii)&#160;immediately after the First Closing, Initial SPAC Surviving Sub, Merger Sub 2 and Merger Sub 3, (iii)&#160;immediately after the Second Closing, Subsequent SPAC Surviving Sub and Merger Sub 3 and (iv)&#160;immediately after the Acquisition Closing, Subsequent SPAC Surviving Sub and the Surviving Company. None of Merger Sub 1, Merger Sub 2 or Merger Sub 3 owns or controls, directly or indirectly, any interest in any corporation, partnership, limited liability company, association or other business entity. </font>
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          <font style="letter-spacing:0.2pt;">7.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Board Approval</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The sole director of each of the Acquisition Entities has (i)&#160;declared the advisability of the transactions contemplated by this Agreement, and (ii)&#160;determined that the transactions contemplated hereby are in the best interests of the shareholders of the Acquisition Entities, as applicable. </font>
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          <font style="letter-spacing:0.2pt;">7.9&nbsp;&nbsp;&nbsp;Litigation.&nbsp;&nbsp;&nbsp;There is no Action (or any basis therefore) pending against any Acquisition Entities, any of its officers or directors or any of its securities or any of its assets or Contracts before any court, Authority or official or which in any manner challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated hereby or by the Additional Agreements, other than as would not, individually or in the aggregate, have a material adverse effect on the ability of the Acquisition Entities to consummate the transactions contemplated by this Agreement or any of the Additional Agreements. </font>
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          <font style="letter-spacing:0.2pt;">7.10&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Compliance with Laws</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Acquisition Entity is in violation of, has violated, under investigation with respect to any violation or alleged violation of, any Law, or judgment, order or decree entered by any court, arbitrator or Authority, domestic or foreign in any material respect, nor is there any basis for any such charge and no Acquisition Entity has previously received any subpoenas by any Authority. </font>
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          <font style="letter-spacing:0.2pt;">7.11&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Not an Investment Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Acquisition Entity is an &#8220;investment company&#8221; within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder. </font>
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          <font style="letter-spacing:0.2pt;">7.12&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Business Activities</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each Acquisition Entity was formed solely for the purpose of effecting the transactions contemplated under this Agreement and has not engaged in any business activities or conducted any operations other than in connection with the transactions contemplated under this Agreement and has no, and at all times prior to the Acquisition Closing except as expressly contemplated by the Additional Agreements and the transactions contemplated under this Agreement, will have no, assets, liabilities or obligations of any kind or nature whatsoever other than those incident to its formation. </font>
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          <font style="letter-spacing:0.2pt;">7.13&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">U.S. Entity Classification Elections</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Merger Sub 2 will elect to be disregarded as an entity separate from PubCo for U.S. federal income tax purposes effective as of the day of its formation and will not subsequently change such classification. Merger Sub 3 will elect to be treated as disregarded as an entity </font>
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          <font style="letter-spacing:0.2pt;">separate from its owner for U.S. federal income tax purposes effective as of the day of its formation. On the Closing Date, Merger Sub 3 will elect to be treated as a corporation for U.S. federal income tax purposes, effective as of the start of the day on the Closing Date and prior to the Acquisition Merger. </font>
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          <font style="letter-spacing:0.2pt;">7.14&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Intended Tax Treatment</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Acquisition Entity has taken any action (nor permitted any action to be taken), or is aware of any fact or circumstance, that would reasonably be expected to prevent, impair or impede the Intended Tax Treatment of any of the Mergers. </font>
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          <font style="letter-spacing:0.2pt;">7.15&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Foreign Private Issuer</font><font style="letter-spacing:0.2pt;"> .&nbsp;&nbsp;&nbsp;PubCo is and shall be at all times commencing from the date 30&#160;days prior to the first filing of the Proxy Statement and Registration Statements with the SEC through the Acquisition Closing, a foreign private issuer as defined in Rule&#160;405 under the Securities Act. </font>
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          <font style="letter-spacing:0.2pt;">7.16&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Organizational</font><font style="letter-spacing:0.2pt;"> Documents.&nbsp;&nbsp;&nbsp;PubCo shall take all necessary actions under applicable Law to approve and adopt (a)&#160;the Amended PubCo Charter, which shall become effective at the First SPAC Merger Effective Time, and (b)&#160;the 2021 Equity Incentive Plan of PubCo, which shall become effective at the Acquisition Merger Effective Time. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE VIII</font>
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          <font style="letter-spacing:-0.2pt;">COVENANTS OF THE RELEVANT PARTIES PENDING CLOSING</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Each of the Company Group, SPAC Parties and Acquisition Entities covenants and agrees that: </font>
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          <font style="letter-spacing:0.2pt;">8.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Conduct of the Business</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;(a)&#160;From the date hereof until the Acquisition Merger Effective Time, except as expressly contemplated or permitted by this Agreement or Additional Agreements or as required by applicable Law (including for this purposes any COVID-19 measures), each party shall, and shall cause its Subsidiaries to, (A)&#160;conduct their respective business only in the ordinary course consistent with past practice in all material respects, and (B)&#160;use its reasonable best efforts to preserve intact its assets, keep available the services of its current officers and key employees and maintain in all material respects its current relationships with suppliers, customers and other third parties with which it has material business relations. Without limiting the generality of the foregoing, except as expressly contemplated or permitted by this Agreement or Additional Agreements or as required by applicable Law (including for this purposes any COVID-19 measures), from the date hereof until the Acquisition Merger Effective Time, without the prior written consent of the Company and SPAC (provided that (y)&#160;such written consent shall not be unreasonably withheld, and (z)&#160;such other party shall respond to such request for written consent as soon as practicable and such written consent shall be deemed given if such other party does not respond to such request with three (3)&#160;Business Days after the receipt of the request), each of the parties hereto shall not, and shall cause its Subsidiaries not to: </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;amend, modify or supplement its Organizational Documents other than pursuant to this Agreement; </font>
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          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;adjust, split, combine, subdivide, recapitalize, reclassify or otherwise effect any change in respect of any shares or other equity or voting securities of the Company other than pursuant to this Agreement; </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;modify, amend, enter into, consent to the termination of, or waive any material rights under, any Material Contract (or any Contract that would be a Material Contract if such Contract has been entered into prior to the date hereof), except for in ordinary course of business consistent with past practice; </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iv)&nbsp;&nbsp;&nbsp;make any capital expenditures in excess of US$5,000,000 (individually or in the aggregate), except for in ordinary course of business consistent with past practice; </font>
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        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(v)&nbsp;&nbsp;&nbsp;sell, transfer, lease, license, grant or incur any Lien on, or otherwise dispose of any of the Company Group&#8217;s assets or Intellectual Property Rights, except sales of products to customers in the ordinary course of business consistent with past practice and not exceeding US$5,000,000; </font>
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          <font style="letter-spacing:0.2pt;">(vi)&nbsp;&nbsp;&nbsp;pay, declare or promise to pay any dividends or other distributions with respect to its share capital, or pay, declare or promise to pay any other payments to any shareholder (other than, in the case of any shareholder that is an employee, payments of salary accrued in said period at the </font>
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          <font style="letter-spacing:0.2pt;">A-38</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC6">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">current salary rate), except for in connection with the Restructuring (defined in Section&#160;9.3) in which case no written consent would be required; </font>
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          <font style="letter-spacing:0.2pt;">(vii)&nbsp;&nbsp;&nbsp;(A) grant, accelerate or amend the terms of any equity awards to any employee of the Company Group or to any person except for grant or accelerate the Company RSUs under the Company Plan, or (B)&#160;establish, adopt, amend or terminate the Company Plan or any other equity incentive plan except the termination of the Company Plan and the adoption of the 2021 Equity Incentive Plan of PubCo as contemplated by this Agreement; </font>
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          <font style="letter-spacing:0.2pt;">(viii)&nbsp;&nbsp;&nbsp;obtain or incur any loan or other Indebtedness in excess of US$5,000,000, or assume, guarantee or otherwise become responsible for the obligations of any Person for Indebtedness, except for in ordinary course of business consistent with past practice; </font>
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          <font style="letter-spacing:0.2pt;">(ix)&nbsp;&nbsp;&nbsp;commence, settle, release, waive or compromise any Action of or against any member of the Company Group (A)&#160;for an amount in excess of US$5,000,000, (B)&#160;that would impose any material restrictions on the business or operations of any member of the Company Group, or (C)&#160;that is brought by or on behalf of any current, former or purported holder of any share capital or other securities of any member of the Company Group relating to the Acquisition Merger; adopt or enter into a plan of liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization of any member of the Company Group; </font>
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          <font style="letter-spacing:0.2pt;">(x)&nbsp;&nbsp;&nbsp;acquire, whether by purchase, merger, spin off, consolidation, scheme of arrangement, amalgamation or acquisition of shares or assets, any assets, securities or properties, in aggregate, with a value or purchase price in excess of US$5,000,000 in any transaction or related series of transactions; </font>
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          <font style="letter-spacing:0.2pt;">(xi)&nbsp;&nbsp;&nbsp;fail to maintain in full force and effect material insurance policies covering the Company Group and its properties, assets and businesses in a form and amount consistent with past practices; </font>
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          <font style="letter-spacing:0.2pt;">(xii)&nbsp;&nbsp;&nbsp;make any change in its accounting principles or methods of accounting, other than as may be required by the applicable accounting principles or applicable Law; </font>
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          <font style="letter-spacing:0.2pt;">(xiii)&nbsp;&nbsp;&nbsp;issue, sell, transfer, pledge, dispose of, place any Lien, redeem or repurchase any shares or other equity or voting securities of any member of the Company Group, or issue or grant any securities exchangeable for or convertible into any shares or other equity or voting securities of any member of the Company Group; </font>
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          <font style="letter-spacing:0.2pt;">(xiv)&nbsp;&nbsp;&nbsp;make, change or revoke any material Tax election, amend any Tax Return, enter into any closing agreement or seek any ruling from any Authority with respect to material Taxes, surrender any right to claim a material refund of Taxes, settle or finally resolve any material controversy with respect to Taxes, agree to an extension or waiver of the statute of limitations with respect to the assessment or determination of material Taxes, change any method of Tax accounting or Tax accounting period, initiate any voluntary Tax disclosure to any Authority, or incur any material amount of Taxes outside of the ordinary course of business; or </font>
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          <font style="letter-spacing:0.2pt;">(xv)&nbsp;&nbsp;&nbsp;undertake any legally binding obligation to do any of the foregoing. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;From the date hereof through the Closing Date, SPAC shall remain a &#8220;blank check company&#8221; as defined under the Securities Act, shall not conduct any business operations other than in connection with this Agreement and ordinary course operations to maintain its status as a Nasdaq-listed special purpose acquisition company pending the completion of the transactions contemplated hereby. Without limiting the generality of the foregoing, through the Closing Date, other than in connection with the transactions contemplated by this Agreement, without the Company&#8217;s prior written consent (which shall not be unreasonably withheld), SPAC shall not, and shall not cause its Subsidiaries to amend, waive or otherwise change the Investment Management Trust Agreement in any manner adverse to SPAC. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Neither party shall (i)&#160;take or agree to take any action that might make any representation or warranty of such party inaccurate or misleading in any material respect at, or as of any time prior to, the Closing Date or (ii)&#160;omit to take, or agree to omit to take, any action necessary to prevent any such representation or warranty from being inaccurate or misleading in any material respect at any such time. </font>
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          <font style="letter-spacing:0.2pt;">A-39</font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;From the date hereof through the earlier of (x)&#160;termination of this Agreement in accordance with Article&#160;XIII and (y)&#160;the Acquisition Closing, other than in connection with the transactions contemplated hereby, none of the Company Group, SPAC Parties or Acquisition Entities, shall, and such Persons shall cause each of their respective officers, directors, Affiliates, managers, consultants, employees, representatives (including investment bankers, attorneys and accountants) and agents not to, directly or indirectly, (i)&#160;encourage, solicit, initiate, engage or participate in negotiations with any Person concerning, or make any offers or proposals related to, any Alternative Transaction, (ii)&#160;take any other action intended or designed to facilitate the efforts of any Person relating to a possible Alternative Transaction, (iii)&#160;enter into, engage in or continue any discussions or negotiations with respect to an Alternative Transaction with, or provide any non-public information, data or access to employees to, any Person that has made, or that is considering making, a proposal with respect to an Alternative Transaction or (iv)&#160;approve, recommend or enter into any Alternative Transaction or any Contract related to any Alternative Transaction. For purposes of this Agreement, the term &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Alternative Transaction</font><font style="letter-spacing:0.2pt;">&#8221; shall mean any of the following transactions involving the Company Group, the SPAC Parties or the Acquisition Entities (other than the transactions contemplated by this Agreement): (1)&#160;any merger, consolidation, share exchange, business combination, amalgamation, recapitalization, consolidation, liquidation or dissolution or other similar transaction, or (2)&#160;any sale, lease, exchange, transfer or other disposition of a material portion of the assets of such Person (other than the sale, the lease, transfer or other disposition of assets in the ordinary course of business) or any class or series of the share capital or capital stock or other equity interests of the Company Group, the SPAC Parties or the Acquisition Entities in a single transaction or series of transactions. </font>
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          <font style="letter-spacing:0.2pt;">8.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Access to Information</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;From the date hereof until and including the Closing Date, the Company Group, the SPAC Parties and the Acquisition Entities shall, to the best of their abilities, (a)&#160;continue to give the other parties, their legal counsel and other representatives full access to the offices, properties, and Books and Records, (b)&#160;furnish to the other parties, their legal counsel and other representatives such information relating to the business of the Company Group, the SPAC Parties or the Acquisition Entities as such Persons may reasonably request and (c)&#160;cause its respective employees, legal counsel, accountants and representatives to cooperate with the other parties in such other parties&#8217; investigation of its business; provided that no investigation pursuant to this Section (or any investigation prior to the date hereof) shall affect any representation or warranty given by the Company Group, the SPAC Parties or the Acquisition Entities and, provided further, that any investigation pursuant to this Section shall be conducted in such manner as not to interfere unreasonably with the conduct of the business of the Company Group, the SPAC Parties or the Acquisition Entities. Notwithstanding anything to the contrary in this Agreement, neither party shall be required to provide the access described above or disclose any information if doing so is reasonably likely to (i)&#160;result in a waiver of attorney client privilege, work product doctrine or similar privilege or (ii)&#160;violate any contract to which it is a party or to which it is subject or applicable Law, provided that the non-disclosing party must advise the other parties that it is withholding such access and/or information and (to the extent reasonably practicable) and provide a description of the access not granted and/or information not disclosed. </font>
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          <font style="letter-spacing:0.2pt;">8.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Notices of Certain Events</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each party shall promptly notify the other party of: </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;any notice or other communication from any Person alleging that the consent of such Person is or may be required in connection with the transactions contemplated by this Agreement or that the transactions contemplated by this Agreement might give rise to any Action by or on behalf of such Person or result in the creation of any Lien on any Company Ordinary Share or share capital or capital stock of the SPAC Parties or the Acquisition Entities or any of the Company Group&#8217;s, the SPAC Parties&#8217; or the Acquisition Entities&#8217; assets; </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;any notice or other communication from any Authority in connection with the transactions contemplated by this Agreement or the Additional Agreements; </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;any Actions commenced or, to such party&#8217;s knowledge, threatened against, relating to or involving or otherwise affecting the consummation of the transactions contemplated by this Agreement or the Additional Agreements; </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;the occurrence of any fact or circumstance which constitutes or results, or might reasonably be expected to constitute or result, in a Material Adverse Effect; and </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC6">TABLE OF CONTENTS</a><a name="t84FI">&#8203;</a><a name="t8RS">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;the occurrence of any fact or circumstance which results, or might reasonably be expected to result, in any representation made hereunder by such party to be false or misleading in any material respect or to omit or fail to state a material fact. </font>
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          <font style="letter-spacing:0.2pt;">8.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SEC Filings</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The Company Group acknowledge that: </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;SPAC&#8217;s shareholders must approve the transactions contemplated by this Agreement prior to the Acquisition Merger contemplated hereby being consummated and that, in connection with such approval, SPAC must call a special meeting of its shareholders requiring SPAC to prepare and file with the SEC a Proxy Statement and Registration Statement; </font>
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          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;SPAC Parties will be required to file Quarterly and Annual reports that may be required to contain information about the transactions contemplated by this Agreement; and </font>
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          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;SPAC will be required to file a Form 8-K to announce the transactions contemplated hereby and other significant events that may occur in connection with such transactions. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;In connection with any filing SPAC Parties make with the SEC that requires information about the transactions contemplated by this Agreement to be included, the Company Group will, and will use its best efforts to cause its Affiliates, in connection with the disclosure included in any such filing or the responses provided to the SEC in connection with the SEC&#8217;s comments to a filing, to use their best efforts to (i)&#160;cooperate with SPAC Parties, (ii)&#160;respond to questions about the Company Group required in any filing or requested by the SEC, and (iii)&#160;provide any information requested by SPAC Parties in connection with any filing with the SEC. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Group Cooperation</font><font style="letter-spacing:0.2pt;">. The Company Group acknowledges that a substantial portion of the filings with the SEC and mailings to each shareholder of SPAC with respect to the Proxy Statement shall include disclosure regarding the Company Group and its management, operations and financial condition. Accordingly, the Company Group agrees to as promptly as reasonably practical provide PubCo and the SPAC Parties with such information as shall be reasonably requested by PubCo and the SPAC Parties for inclusion in or attachment to the Proxy Statement, that is accurate in all material respects and complies as to form in all material respects with the requirements of the Exchange Act and the rules and regulations promulgated thereunder and in addition shall contain substantially the same financial and other information about the Company Group and its stockholders or shareholders as is required under Regulation&#160;14A of the Exchange Act regulating the solicitation of proxies. The Company Group understands that such information shall be included in the Proxy Statement and/or responses to comments from the SEC or its staff in connection therewith and mailings. The Company Group shall cause their managers, directors, officers and employees to be reasonably available to PubCo and the SPAC Parties and their counsel in connection with the drafting of such filings and mailings and responding in a timely manner to comments from the SEC. </font>
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          <font style="letter-spacing:0.2pt;">8.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">The Registration Statement</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;As promptly as practicable after the date hereof, SPAC, PubCo and the Company shall jointly prepare, and PubCo and SPAC shall jointly file with the SEC, (i)&#160;in preliminary form, a proxy statement in connection with the transactions contemplated by this Agreement (as amended or supplemented, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Proxy Statement</font><font style="letter-spacing:0.2pt;">&#8221;) to be filed as part of the Registration Statement and to be sent to the shareholders of SPAC in advance of the an extraordinary general meeting of SPAC shareholders, as adjourned (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Special Meeting</font><font style="letter-spacing:0.2pt;">&#8221;), for the purpose of, among other things, (A)&#160;providing the public shareholders of SPAC an opportunity to redeem their SPAC Class&#160;A Ordinary Share in accordance with SPAC&#8217;s Organizational Documents and the Prospectus, and (B)&#160;soliciting proxies from SPAC shareholders to vote at the SPAC Special Meeting, as adjourned or postponed, on the SPAC Shareholder Approval Matters (as defined below), and (ii)&#160;the Registration Statement, in which the Proxy Statement will be included as a prospectus. </font>
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          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;The Proxy Statement shall include proxy materials for the purpose of soliciting proxies from SPAC shareholders to vote, at the SPAC Special Meeting, in favor of resolutions approving (i)&#160;the </font>
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          <font style="letter-spacing:0.2pt;">adoption and approval of this Agreement and the transactions contemplated hereby or referred to herein, (ii)&#160;the replacement of the existing memorandum and articles of association of SPAC with the memorandum and articles of association of PubCo substantially in the form set forth in </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exhibit&#160;D</font><font style="letter-spacing:0.2pt;"> (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Amended PubCo Charter</font><font style="letter-spacing:0.2pt;">&#8221;), (iii)&#160;the approval of an equity incentive plan of PubCo substantially in the form set forth in </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Exhibit&#160;E</font><font style="letter-spacing:0.2pt;"> (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">2021 Equity Incentive Plan of PubCo</font><font style="letter-spacing:0.2pt;">&#8221;), (iv)&#160;any other proposals that the parties hereto agree are necessary or desirable to consummate the transactions contemplated by this Agreement (including the adoption and approval of the memorandum and articles of association of the Merger Sub 1, as in effect immediately prior to the Acquisition Merger Effective Time, as the memorandum and articles of the association of the Initial SPAC Surviving Sub at the First SPAC Merger Effective Time), and (v)&#160;the adjournment of the SPAC Special Meeting, if necessary or desirable in the reasonable determination of SPAC (collectively, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">SPAC Shareholder Approval Matters</font><font style="letter-spacing:0.2pt;">&#8221;). If on the date for which SPAC Special Meeting is scheduled, SPAC has not received proxies representing a sufficient number of shares to obtain the Required SPAC Shareholder Approval (as defined below), whether or not a quorum is present, SPAC may make one or more successive postponements or adjournments of SPAC Special Meeting. </font>
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          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;In connection with the Registration Statement, SPAC and PubCo will jointly file, with the Company&#8217;s reasonable cooperation, with the SEC financial and other information about the transactions contemplated by this Agreement in accordance with applicable Law and applicable proxy solicitation and registration statement rules set forth in SPAC&#8217;s Organizational Documents and applicable Laws of the British Virgin Islands, applicable Laws of the Cayman Islands and the rules and regulations of the SEC and Nasdaq. SPAC (and its counsel), PubCo (and its counsel) and the Company (and its counsel) shall provide each other party with a reasonable opportunity to review and comment on the Registration Statement and any amendment or supplement thereto prior to filing the same with the SEC. The Company shall provide PubCo and SPAC with such information concerning the Company Group and its equity holders, officers, directors, employees, assets, Liabilities, condition (financial or otherwise), business and operations that may be required or appropriate for inclusion in the Registration Statement, or in any amendments or supplements thereto, which information provided by the Company shall be true and correct and not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made not materially misleading. If required by applicable SEC rules or regulations, such financial information provided by the Company Group must be reviewed or audited by the Company Group&#8217;s auditors. SPAC shall provide such information concerning SPAC and its equity holders, officers, directors, employees, assets, liabilities, condition (financial or otherwise), business and operations that may be required or appropriate for inclusion in the Registration Statement, or in any amendments or supplements thereto, which information provided by SPAC shall be true and correct and not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made not materially misleading. Each Acquisition Entity shall provide such information concerning the relevant Acquisition Entity and its equity holders, officers, directors, employees, assets, liabilities, condition (financial or otherwise), business and operations, as applicable, that may be required or appropriate for inclusion in the Registration Statement, or in any amendments or supplements thereto, which information provided by the relevant Acquisition Entity shall be true and correct and not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made not materially misleading. SPAC and PubCo will use all commercially reasonable efforts to cause the Registration Statement to be declared effective under the Securities Act as promptly as practicable after such filing and to keep the Registration Statement effective as long as is necessary to consummate the Acquisition Merger and the transactions contemplated hereby. </font>
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          <font style="letter-spacing:0.2pt;">(iv)&nbsp;&nbsp;&nbsp;Each of SPAC, PubCo and the Company shall take any and all reasonable and necessary actions required to satisfy the requirements of the Securities Act, the Exchange Act and other applicable Laws in connection with the Registration Statement and the Proxy Statement. Each of SPAC, PubCo and the Company shall, and shall cause each of its Subsidiaries to, make their respective directors, officers and employees, as applicable, upon reasonable advance notice, available at a reasonable time and location to the Company, PubCo, SPAC and their respective representatives in connection with the drafting of the public filings with respect to the transactions contemplated by this Agreement, including the Registration Statement, and responding in a timely manner to comments from the SEC. Each party shall promptly correct any information provided by it for use in the Registration Statement (and other related materials) if and to the extent that such information is determined to have become false or misleading in any material </font>
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          <font style="letter-spacing:0.2pt;">respect or as otherwise required by applicable Laws. SPAC and PubCo shall jointly amend or supplement the Registration Statement and cause the Registration Statement, as so amended or supplemented, to be filed with the SEC and SPAC shall cause the Proxy Statement to be disseminated to SPAC&#8217;s shareholders, in each case as and to the extent required by applicable Laws and subject to the terms and conditions of this Agreement and the SPAC&#8217;s Organizational Documents. </font>
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          <font style="letter-spacing:0.2pt;">(v)&nbsp;&nbsp;&nbsp;SPAC, PubCo and the Company shall promptly respond to any SEC comments on the Registration Statement and shall otherwise use their respective commercially reasonable efforts to cause the Registration Statement to &#8220;clear&#8221; comments from the SEC and become effective. Each Party shall provide the other Party with copies of any written comments, and shall inform the other Party of any material oral comments, that such Party or its representatives receive from the SEC or its staff with respect to the Registration Statement and the Proxy Statement promptly after the receipt of such comments and shall give the other Party a reasonable opportunity under the circumstances to review and comment on any proposed written or material oral responses to such comments. </font>
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          <font style="letter-spacing:0.2pt;">(vi)&nbsp;&nbsp;&nbsp;As soon as practicable following the Registration Statement &#8220;clearing&#8221; comments from the SEC and being declared effective by the SEC, SPAC shall distribute the Proxy Statement to SPAC&#8217;s shareholders, and, pursuant thereto, shall call SPAC Special Meeting in accordance with applicable Laws of the British Virgin Islands as promptly as practicable. SPAC shall take necessary actions to enforce Section&#160;1 of the Letter Agreement, dated as of June&#160;9, 2021, by and among SPAC, the Sponsor and certain directors and officers of SPAC, in order to obtain the Required SPAC Shareholder Approval. </font>
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          <font style="letter-spacing:0.2pt;">8.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Trust Account</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company Group and the Acquisition Entities acknowledge that the SPAC Parties shall make appropriate arrangements to cause the funds in the Trust Account to be disbursed in accordance with the Investment Management Trust Agreement and for the payment of (i)&#160;all amounts payable to shareholders of SPAC holding SPAC Units or SPAC Ordinary Shares who shall have validly redeemed their SPAC Units or SPAC Ordinary Shares upon acceptance by the SPAC of such SPAC Units or SPAC Ordinary Shares, (ii)&#160;the expenses of the SPAC Parties to the third parties to which they are owed, (iii)&#160;the Deferred Underwriting Amount to the underwriter in the IPO and (iv)&#160;the remaining monies in the Trust Account to the SPAC Parties. Except as otherwise expressly provided in the Investment Management Trust Agreement, SPAC Parties shall not agree to, or permit, any amendment or modification of, or waiver under, the Investment Management Trust Agreement without the prior written consent of the Company. </font>
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          <font style="letter-spacing:0.2pt;">8.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Directors&#8217; and Officers&#8217; Indemnification and Insurance</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The parties agree that all rights to exculpation, indemnification and advancement of expenses existing in favor of the current or former directors and officers of the SPAC Parties (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">D&amp;O Indemnified Persons</font><font style="letter-spacing:0.2pt;">&#8221;) as provided in their respective Organizational Documents, in each case as in effect on the date of this Agreement, or under any indemnification, employment or other similar agreements between any D&amp;O Indemnified Person and any of the SPAC Parties in effect on the date hereof, shall survive the Acquisition Closing and continue in full force and effect in accordance with their respective terms to the extent permitted by applicable Law. For a period of six (6)&#160;years after the Acquisition Merger Effective Time, PubCo shall cause the Organizational Documents of PubCo and Merger Sub 2 to contain provisions no less favorable with respect to exculpation and indemnification of and advancement of expenses to D&amp;O Indemnified Persons than are set forth as of the date of this Agreement in the Organizational Documents of the SPAC Parties to the extent permitted by applicable Law. The provisions of this Section&#160;8.7 shall survive the Acquisition Closing and are intended to be for the benefit of, and shall be enforceable by, each of the D&amp;O Indemnified Persons and their respective heirs and representatives. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;PubCo and Merger Sub 2 shall, or shall cause its Affiliates to, obtain and fully pay the premium for a &#8220;tail&#8221; insurance policy that provides coverage for up to a six-year period from the Closing Date, for the benefit of the D&amp;O Indemnified Persons (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">D&amp;O Tail Insurance</font><font style="letter-spacing:0.2pt;">&#8221;) that is substantially equivalent to and in any event not less favorable in the aggregate than SPAC&#8217;s existing policy or, if substantially equivalent insurance coverage is unavailable, the best available coverage; with respect to the current or former directors and officers of the SPAC Parties, provided that in no event shall the PubCo be required to expend for such policies pursuant to this Section&#160;8.7(b) an annual premium amount in excess of 300% of the amount per annum payable by SPAC under its currently effective D&amp;O insurance policies as of the date of this Agreement. PubCo shall cause such D&amp;O Tail Insurance to be maintained in full force and </font>
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          <font style="letter-spacing:0.2pt;">effect, for its full term, and cause its Subsidiaries to honor all obligations thereunder. If any claim is asserted or made within such six-year period, the provisions of this Section&#160;8.7 shall be continued in respect of such claim until the final disposition thereof. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;SPAC shall enter into indemnification agreements, dated on or prior to the date hereof, with the individuals set forth on </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Schedule&#160;I</font><font style="letter-spacing:0.2pt;">, which shall continue to be effective following the Acquisition Closing. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Notwithstanding anything contained in this Agreement to the contrary, this Section&#160;8.7 shall survive the Acquisition Merger Effective Time indefinitely and shall be binding, jointly and severally, on all successors and assigns of the Surviving Company. In the event that the Surviving Company or any of its successors or assigns consolidates with or merges into another Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or transfers or conveys all or substantially all of its properties and assets to any Person, then, and in each such case, proper provision shall be made so that the successors and assigns of the Surviving Company shall succeed to the obligations set forth in this Section&#160;8.7. </font>
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          <font style="letter-spacing:0.2pt;">8.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Board of Directors of PubCo</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Immediately after the Acquisition Merger Effective Time, PubCo&#8217;s board of directors shall consist of directors and independent directors designated by the Company, provided, however, the composition of such board of directors shall comply with the requirements of SEC and Nasdaq. </font>
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          <font style="letter-spacing:0.2pt;">8.9&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Reporting and Compliance with Laws</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;From the date hereof through the Closing Date, the SPAC Parties, Acquisition Entities and Company Group shall duly and timely file all Tax Returns required to be filed with the applicable Taxing Authorities, pay any and all Taxes required by any Taxing Authority and duly observe and conform in all material respects, to all applicable Laws and Orders. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE IX</font>
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          <font style="letter-spacing:-0.2pt;">COVENANTS OF THE COMPANY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The Company agrees that: </font>
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          <font style="letter-spacing:0.2pt;">9.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Annual and Interim Financial Statements</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;From the date hereof through the Closing Date, within thirty-five (35) calendar days following the end of each three-month quarterly period, the Company Group shall deliver to SPAC, for the first three quarters of the year, unaudited consolidated financial statements reviewed by the Company&#8217;s auditor. The Company Group shall also promptly deliver to the SPAC Parties copies of any audited annual consolidated financial statements of the Company that the Company&#8217;s auditor may issue. </font>
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          <font style="letter-spacing:0.2pt;">9.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Company Shareholder Approval</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company shall take, in accordance with the Cayman Companies Act, the Company&#8217;s Organizational Documents and other applicable Law, all action necessary to obtain the Company Shareholder Approval as promptly as reasonably practicable (but in no event later than five (5)&#160;Business Days after the effectiveness of the Registration Statement), including convening an extraordinary general meeting of its shareholders or obtaining written consent from all of its shareholders. </font>
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          <font style="letter-spacing:0.2pt;">9.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Restructuring</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;With respect to any Subsidiary of the Company that is incorporated in the People&#8217;s Republic of China (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PRC</font><font style="letter-spacing:0.2pt;">&#8221;) or any other Person that is incorporated in the PRC in which any member of the Company Group owns or Controls any equity securities, voting power or other interests (collectively, the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">PRC Entities</font><font style="letter-spacing:0.2pt;">&#8221;), the Company Group shall have initiated either the transfer all of its interests in such PRC Entities or otherwise the dissolution or liquidation of such PRC Entities, including completion of all required filings and registrations with the Authority, no later than the earlier of (i)&#160;30&#160;days after the date of the Original Merger Agreement, or (ii)&#160;the first filing of the Proxy Statement and Registration Statement with the SEC (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Restructuring</font><font style="letter-spacing:0.2pt;">&#8221;), and shall use reasonable efforts to complete the Restructuring thereafter. The Company shall furnish draft documents and contracts for the Restructuring to SPAC for reasonable review and comments. The Company shall provide SPAC with an update on the status of the Restructuring after the completion of any material step thereto and relevant documentation evidencing such update. Prior to the completion of the Restructuring, the Company Group shall ensure that the PRC Entities do not operate any business. From the completion of the Restructuring to the Closings, the Company Group shall not own or otherwise Control any equity securities, voting power or other interests of any Person incorporated in the PRC. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE X</font>
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          <font style="letter-spacing:-0.2pt;">COVENANTS OF ALL PARTIES HERETO</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The parties hereto covenant and agree that: </font>
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          <font style="letter-spacing:0.2pt;">10.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Reasonable Best Efforts; Further Assurances</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, each party shall use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary or desirable under applicable Laws, and cooperate as reasonably requested by the other parties, to consummate and implement expeditiously each of the transactions contemplated by this Agreement. The parties hereto shall execute and deliver such other documents, certificates, agreements and other writings and take such other actions as may be necessary or reasonably desirable in order to consummate or implement expeditiously each of the transactions contemplated by this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">10.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Tax Matters</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;PubCo shall retain (or cause the Company Group to retain) all books and records with respect to Tax matters of the Company Group for Pre-Closing Periods for at least seven (7)&#160;years following the Closing Date and to abide by all record retention agreements entered into by or with respect to the Company Group with any Taxing Authority. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;PubCo, SPAC, Acquisition Entities and the Company shall use their respective commercially reasonable efforts to cause the transactions contemplated herein to qualify for the Intended Tax Treatment and agree not to, and not to permit or cause any Affiliate or any Subsidiary to, take any actions or cause any action to be taken that such party reasonably expects would prevent, impair or impede the Intended Tax Treatment (other than actions contemplated under this Agreement). </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;SPAC, Acquisition Entities or the Company, as applicable, shall promptly notify the other party in writing if, before the Initial Closing Date or Closing Date, as applicable, it determines that it is not reasonable for the Initial Mergers or Acquisition Merger to qualify for the Intended Tax Treatment, as applicable. Following such notice, the notifying party may propose amendments to the terms of this Agreement that such person believes could reasonably facilitate such qualification without adversely affecting the rights and commercial position of SPAC, Acquisition Entities, the Company, and their respective shareholders and warrant or option holders. In that case, each other party shall consider in good faith the proposed amendments and, if it determines in good faith that they would not result in unreasonable delay to Initial Closing and/or Acquisition Closing and would not adversely affect the rights or commercial position of SPAC, the Company, and their respective shareholders and warrant or option holders, the parties shall use commercially reasonable efforts to effect any such amendments. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;In the event that PubCo determines after Acquisition Closing that PubCo is a PFIC for any taxable year, PubCo shall provide sufficient information to PubCo&#8217;s shareholders to make a timely &#8220;qualified electing fund&#8221; election within the meaning of Section&#160;1295 of the Code with respect to PubCo. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;In the event that the SEC requests or requires a tax opinion regarding any aspect of the Intended Tax Treatment, each party shall use reasonable best efforts to execute and deliver customary tax representation letters to each other party&#8217;s tax advisors, as applicable, in form and substance reasonably satisfactory to such advisors for the purpose of issuing such opinions. If the SEC requests or requires any opinion on the Intended Tax Treatment of the Initial Mergers or other tax consequences to SPAC Shareholders, SPAC shall use reasonable best efforts to cause such opinion (as so required or requested) to be provided by its tax advisor. If the SEC requests or requires any opinion on the Intended Tax Treatment of the Acquisition Merger or other tax consequences to Company Shareholders, the Company shall use reasonable best efforts to cause such opinion (as so required or requested) to be provided by its tax advisor. For the avoidance of doubt, a tax opinion regarding the Intended Tax Treatment is not a condition to closing. </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;For two (2)&#160;years following the Closing Date, PubCo&#8217;s &#8220;qualified group&#8221; &#8203;(within the meaning of Treasury Regulations&#160;Section&#160;1.368-1(d)(4)(ii)) shall use the lower of (i)&#160;fifty&#160;percent (50%) of the cash and cash equivalents held by or on behalf of the SPAC immediately prior to the Closing Date (and prior to any redemptions in respect of SPAC Shareholders) and (ii)&#160;the amount of cash actually held by the </font>
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          <font style="letter-spacing:0.2pt;">Subsequent SPAC Surviving Sub immediately after the Closings, in PubCo and its qualified group&#8217;s business within the meaning of Treasury Regulations&#160;Section&#160;1.368-1(d) (such business, &#8220;PubCo&#8217;s Business&#8221;). For the avoidance of doubt, permissible use of such cash in PubCo&#8217;s Business shall include the use of cash by members of PubCo&#8217;s qualified group for general corporate purposes, retention for future use in the business operations of members of PubCo&#8217;s qualified group, and loans from PubCo or the Subsequent SPAC Surviving Sub to other members of PubCo&#8217;s qualified group for current or future use in the business operations of such members. </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;In the event of any investment (including any &#8220;PIPE&#8221; investment) in shares or stock rights of any Person that have the effect of entitling the holder thereof to receive shares in PubCo in connection with any of the Mergers (other than, for the avoidance of doubt, open market purchases of SPAC Units, SPAC Ordinary Shares or SPAC Rights), the parties shall use reasonable best efforts to structure such investment in a manner that would not reasonably be expected to result in any of the Mergers failing to qualify for the Intended Tax Treatment. </font>
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          <font style="letter-spacing:0.2pt;">10.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Settlement of the SPAC Parties&#8217; Liabilities</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Concurrently with the Acquisition Closing, all outstanding liabilities of the SPAC Parties shall be settled and paid in full and reimbursement of out-of-pocket expenses reasonably incurred by SPAC&#8217;s or SPAC&#8217;s officers, directors, or any of their respective Affiliates, in connection with identifying, investigating and consummating a business combination. </font>
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          <font style="letter-spacing:0.2pt;">10.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Compliance with SPAC Agreements</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Company Group and SPAC Parties shall comply with each of the applicable agreements entered into in connection with the IPO, including that certain registration rights agreement, dated as of June&#160;9, 2021 by and between SPAC and the investors named therein. </font>
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          <font style="letter-spacing:0.2pt;">10.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Confidentiality</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as necessary to complete the Proxy Statement and Registration Statement, the Company Group and Acquisition Entities, on the one hand, and the SPAC Parties, on the other hand, shall hold and shall cause their respective representatives to hold in strict confidence, unless compelled to disclose by judicial or administrative process or by other requirements of Law, all documents and information concerning the other party furnished to it by such other party or its representatives in connection with the transactions contemplated by this Agreement (except to the extent that such information can be shown to have been (a)&#160;previously known by the party to which it was furnished, (b)&#160;in the public domain through no fault of such party or (c)&#160;later lawfully acquired from other sources, which source is not the agent of the other party, by the party to which it was furnished), and each party shall not release or disclose such information to any other person, except its representatives in connection with this Agreement. In the event that any party believes that it is required to disclose any such confidential information pursuant to applicable Laws, such party shall give timely written notice to the other parties so that such parties may have an opportunity to obtain a protective order or other appropriate relief. Each party shall be deemed to have satisfied its obligations to hold confidential information concerning or supplied by the other parties if it exercises the same care as it takes to preserve confidentiality for its own similar information. The parties acknowledge that some previously confidential information will be required to be disclosed in the Proxy Statement. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE XI</font>
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          <font style="letter-spacing:-0.2pt;">CONDITIONS TO CLOSING</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">11.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Condition to the Obligations of the Parties</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The obligations of all of the parties hereto to consummate the Closings are subject to the satisfaction of all the following conditions, any one or more of which may be waived (if legally permitted) in writing by all of such parties: </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;There shall not be in force any applicable Law or Order enjoining, prohibiting, making illegal or preventing the consummation of the Closings, whether temporary, preliminary or permanent, which is then in effect or is pending or threatened. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The SEC shall have declared the Registration Statement and the ADS Registration Statement effective. No stop order suspending the effectiveness of the Registration Statement or the ADS Registration Statement or any part thereof shall have been issued and no Action seeking such stop order shall have been threatened or initiated by the SEC and not withdrawn. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;The PubCo Ordinary Shares to be issued in connection with the Closings shall be conditionally approved for listing upon the Closings on Nasdaq, subject only to official notice of issuance thereof. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;All applicable waiting periods (and any extension thereof) under the HSR Act shall have expired or been terminated. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;The approval of the SPAC Shareholder Approval Matters shall have been duly obtained in accordance with the Laws of the British Virgin Islands, SPAC&#8217;s Organizational Documents and the rules and regulations of Nasdaq (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Required SPAC Shareholder Approval</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;The Company Shareholder Approval shall have been obtained. </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;SPAC shall have at least US$5,000,001 of net tangible assets (as determined in accordance with Rule&#160;3a51-1(g)(1) of the Exchange Act) remaining immediately after the Closings. </font>
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          <font style="letter-spacing:0.2pt;">11.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Additional Conditions to Obligations of SPAC Parties</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The obligations of the SPAC Parties to consummate the Acquisition Closing are subject to the satisfaction of all the following additional conditions, any one or more of which may be waived in writing by SPAC: </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The Company Group and Acquisition Entities shall have duly performed all of its obligations hereunder required to be performed by it at or prior to the Closing Date in all material respects, unless the applicable obligation has a materiality qualifier in which case it shall be duly performed in all respects. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;(i) Each of the representations and warranties of the Company contained in Section&#160;5.1, Section&#160;5.2 and Section&#160;5.5(d) shall be true and correct (without giving any effect to any limitation as to &#8220;materiality&#8221; or &#8220;Material Adverse Effect&#8221; or any similar limitation set forth therein) in all material respects as of the date hereof and as of the Closing Date as though then made (except to the extent such representations and warranties expressly relate to an earlier date, and in such case, shall be true and correct on and as of such earlier date); (ii)&#160;the representations and warranties of the Company contained in Section&#160;5.5(a), Section&#160;5.5(b), Section&#160;5.5(c) and Section&#160;5.12(b) shall be true and correct in all respects as of the date hereof and as of the Closing Date as though then made; and (iii)&#160;each of the representations and warranties of the Company contained in Article&#160;V (other than Section&#160;5.1, Section&#160;5.2, Section&#160;5.5 and Section&#160;5.12(b)), shall be true and correct (without giving any effect to any limitation as to &#8220;materiality&#8221; or &#8220;Material Adverse Effect&#8221; or any similar limitation set forth therein) as of the date hereof and as of the Closing Date as though then made (except to the extent such representations and warranties expressly relate to an earlier date, and in such case, shall be true and correct on and as of such earlier date), except where the failure of such representations and warranties to be so true and correct, individually or in the aggregate, has not had, and would not reasonably be expected to result in, a Material Adverse Effect; (iv)&#160;each of the representations and warranties of the Acquisition Entities contained in Section&#160;7.1, Section&#160;7.2 and Section&#160;7.7(b) shall be true and correct (without giving any effect to any limitation as to &#8220;materiality&#8221; or any similar limitation set forth therein) in all material respects as of the date hereof and as of the Closing Date as though then made (except to the extent such representations and warranties expressly relate to an earlier date, and in such case, shall be true and correct on and as of such earlier date); (v)&#160;the representations and warranties of the Acquisition Entities contained in Section&#160;7.6, Section&#160;7.7(a) and Section&#160;7.7(c) shall be true and correct in all respects as of the date hereof and as of the Closing Date as though then made; and (vi)&#160;each of the representations and warranties of the Acquisition Entities contained in Article&#160;VII (other than Section&#160;7.1, Section&#160;7.2, Section&#160;7.6 and Section&#160;7.7), shall be true and correct (without giving any effect to any limitation as to &#8220;materiality&#8221; or any similar limitation set forth therein) as of the date hereof and as of the Closing Date as though then made (except to the extent such representations and warranties expressly relate to an earlier date, and in such case, shall be true and correct on and as of such earlier date), except where the failure of such representations and warranties to be so true and correct, individually or in the aggregate, has not had, and would not reasonably be expected to result in, a material adverse effect on the ability of any Acquisition Entity to consummate the transactions contemplated hereby. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;There shall have been no event, change or occurrence which individually or together with any other event, change or occurrence, could reasonably be expected to have a Material Adverse Effect, regardless of whether it involved a known risk. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;The SPAC Parties shall have received a certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company, and a certificate signed by the sole director or an authorized signatory of PubCo, dated of the Closing Date, certifying that the conditions set forth in this Section&#160;11.2 have been fulfilled. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;The SPAC Parties shall have received duly executed opinions from the Company&#8217;s Cayman Islands counsel, Travers Thorp Alberga, in form and substance reasonably satisfactory to the SPAC Parties, addressed to the SPAC Parties and dated as of the Closing Date. </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;The SPAC Parties shall have received a copy of each of the Additional Agreements duly executed by all parties thereto (other than the SPAC Parties) and such Additional Agreement shall be in full force and effect. </font>
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          <font style="letter-spacing:0.2pt;">11.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Additional Conditions to Obligations of the Company</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The obligations of the Company to consummate the Acquisition Closing are subject to the satisfaction of all of the following additional conditions, any one or more of which may be waived in writing by the Company: </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;SPAC Parties shall have duly performed all of their obligations hereunder required to be performed by them at or prior to the Closing Date in all material respects, unless the applicable obligation has a materiality qualifier in which case it shall be duly performed in all respects. </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Each of the representations and warranties of SPAC Parties contained in Article&#160;VI shall be true and correct (without giving any effect to any limitation as to &#8220;materiality&#8221; or &#8220;material adverse effect&#8221; or any similar limitation set forth therein) as of the date hereof and as of the Closing Date as though then made (except to the extent such representations and warranties expressly relate to an earlier date, and in such case, shall be true and correct on and as of such earlier date), except where the failure of such representations and warranties to be so true and correct, individually or in the aggregate, has not had, and would not reasonably be expected to result in, a material adverse effect on the ability of the SPAC to consummate the transactions contemplated hereby. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;The Company shall have received a certificate signed by an authorized officer of SPAC Parties to the effect set forth in clauses (a)&#160;and (b)&#160;of this Section&#160;11.3. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;SPAC Parties shall have executed and delivered to the Company each Additional Agreement to which it is a party. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11pt;">
          <font style="letter-spacing:0.2pt;">11.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Frustration of Conditions</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;None of the SPAC Parties or the Company may rely on the failure of any condition set forth in this Article&#160;XI to be satisfied if such failure was caused by such party&#8217;s failure to act in good faith to comply with this Agreement and consummate the transactions contemplated hereby. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE XII</font>
          <br >
          <font style="letter-spacing:-0.2pt;">DISPUTE RESOLUTION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">12.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Jurisdiction</font><font style="letter-spacing:0.2pt;">. </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;Any Action based upon, arising out of or related to this Agreement or the transactions contemplated hereby may be brought in federal and state courts located in the City of New York, Borough of Manhattan, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such Action, waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, agrees that all claims in respect of the Action shall be heard and determined only in any such court, and agrees not to bring any Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by Law or to commence legal proceedings or otherwise proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action brought pursuant to this Section&#160;12.1. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">12.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Waiver of Jury Trial; No Exemplary Damages</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;THE PARTIES TO THIS AGREEMENT HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVE ANY RIGHT EACH SUCH PARTY MAY HAVE TO TRIAL BY JURY IN </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-48</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC6">TABLE OF CONTENTS</a><a name="tARXI">&#8203;</a><a name="t1TAM">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">ANY ACTION OF ANY KIND OR NATURE, IN ANY COURT IN WHICH AN ACTION MAY BE COMMENCED, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY ADDITIONAL AGREEMENT, OR BY REASON OF ANY OTHER CAUSE OR DISPUTE WHATSOEVER BETWEEN OR AMONG ANY OF THE PARTIES TO THIS AGREEMENT OF ANY KIND OR NATURE. NO PARTY SHALL BE AWARDED PUNITIVE OR OTHER EXEMPLARY DAMAGES RESPECTING ANY DISPUTE ARISING UNDER THIS AGREEMENT OR ANY ADDITIONAL AGREEMENT. </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Each of the parties to this Agreement acknowledge that each has been represented in connection with the signing of this waiver by independent legal counsel selected by the respective party and that such party has discussed the legal consequences and import of this waiver with legal counsel. Each of the parties to this Agreement further acknowledge that each has read and understands the meaning of this waiver and grants this waiver knowingly, voluntarily, without duress and only after consideration of the consequences of this waiver with legal counsel. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE XIII</font>
          <br >
          <font style="letter-spacing:-0.2pt;">TERMINATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">13.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Termination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;This Agreement may be terminated at any time prior to the Acquisition Closing: </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;by mutual consent of the Company and SPAC; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;by either SPAC or the Company if the Acquisition Closing shall not have occurred on or before May&#160;31, 2022 (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Outside Closing Date</font><font style="letter-spacing:0.2pt;">&#8221;); provided that the right to terminate this Agreement pursuant to this Section&#160;13.1(b) shall not be available to any party whose breach of or failure to perform any provision of this Agreement has been the primary cause of the failure of the Acquisition Closing to be consummated before the Outside Closing Date; </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;by either SPAC or the Company if the consummation of the Acquisition Closing is permanently enjoined or prohibited by a final, non-appealable Order; provided that the right to terminate this Agreement pursuant to this Section&#160;13.1(c) shall not be available to any party whose breach of or failure to perform any provision of this Agreement has been the primary cause of such Order; </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;by either the Company or SPAC if the Required SPAC Shareholder Approval shall have not been obtained at the SPAC Special Meeting or at any adjournment thereof, in each case, at which a vote on the approval of the SPAC Shareholder Approval Matters was taken; </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;by SPAC if the Company Shareholder Approval shall not have been obtained within five (5)&#160;Business Days after the effectiveness date of the Registration Statement; </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;by SPAC if the Company or any Acquisition Entity shall have materially breached any of its representations, warranties, agreements or covenants contained herein or in any Additional Agreement such that the conditions set forth in Section&#160;11.1 or Section&#160;11.2 would not be satisfied and, such breach is not curable or, if curable, is not cured prior to the earlier of 15&#160;days following receipt by the Company of a written notice describing in reasonable detail the nature of such breach and the Outside Closing Date; provided that SPAC shall not have the right to terminate this Agreement pursuant to this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section</font><font style="letter-spacing:0.2pt;"> 13.1(f) if SPAC is then in breach of any of its representations, warranties, covenants or agreements contained in this Agreement that would cause a condition set forth in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section</font><font style="letter-spacing:0.2pt;"> 11.1 or Section&#160;11.3 not to be satisfied; or </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;by the Company if any SPAC Party shall have materially breached any of its covenants, agreements, representations, and warranties contained herein or in any Additional Agreement such that the conditions set forth in Section&#160;11.1 or Section&#160;11.3. would not be satisfied and, such breach is not curable or, if curable, is not cured prior to the earlier of 15&#160;days following receipt by SPAC of a written notice describing in reasonable detail the nature of such breach and the Outside Closing Date; provided that the Company shall not have the right to terminate this Agreement pursuant to this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section</font><font style="letter-spacing:0.2pt;"> 13.1(g) if the Company is then in breach of any of its representations, warranties, covenants or agreements contained in this Agreement that would cause a condition set forth in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section</font><font style="letter-spacing:0.2pt;"> 11.1 or Section&#160;11.2 not to be satisfied. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-49</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC6">TABLE OF CONTENTS</a><a name="t1OTI">&#8203;</a><a name="tARXI1">&#8203;</a><a name="t1ANH">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">13.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Effect of Termination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In the event of the valid termination of this Agreement pursuant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section</font><font style="letter-spacing:0.2pt;"> 13.1, written notice thereof shall be given to the other party or parties hereto, specifying the provision hereof pursuant to which such termination is made and this Agreement shall forthwith become void and there shall be no liability or obligation under this Agreement on the part of any party hereto, except the provisions of Section&#160;10.5 (Confidentiality), Article&#160;XII, Article&#160;XIII and Article&#160;XIV shall survive such valid termination in accordance with its terms and conditions. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE XIV</font>
          <br >
          <font style="letter-spacing:-0.2pt;">MISCELLANEOUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14.1&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Notices</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Any notice hereunder shall be sent in writing, addressed as specified below, and shall be deemed given: (a)&#160;if by hand or recognized courier service, by 5:00 PM on a business day, addressee&#8217;s day and time, on the date of delivery, and otherwise on the first business day after such delivery; (b)&#160;if by fax or email, on the date that transmission is confirmed electronically, if by 5:00 PM on a business day, addressee&#8217;s day and time, and otherwise on the first business day after the date of such confirmation; or (c)&#160;five days after mailing by certified or registered mail, return receipt requested. Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which are for convenience only), or to such other address as a party shall specify to the others in accordance with these notice provisions: </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">if to the Company (following the Acquisition Closing), to: </font>
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        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bitdeer Technologies Holding Company</font> <br ><font style="letter-spacing:0.2pt;">08 Kallang Avenue</font> <br ><font style="letter-spacing:0.2pt;">Aperia tower 1, #09-03/04</font> <br ><font style="letter-spacing:0.2pt;">Singapore 339509</font> <br ><font style="letter-spacing:0.2pt;">Attn: Linghui Kong</font> <br ><font style="letter-spacing:0.2pt;">Email: linghui.kong@bitdeer.com </font></div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">with a copy (which shall not constitute notice) to: </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cooley LLP</font> <br ><font style="letter-spacing:0.2pt;">55 Hudson Yards</font> <br ><font style="letter-spacing:0.2pt;">New York, New York 10001</font> <br ><font style="letter-spacing:0.2pt;">Attn: Will H. Cai</font> <br ><font style="letter-spacing:0.2pt;">Email: wcai@cooley.com </font></div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">if to any Acquisition Entity, to: </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Travers Thorp Alberga, Attorneys at Law</font>
          <br >
          <font style="letter-spacing:0.2pt;">Harbour Place, 2nd Floor</font> <br ><font style="letter-spacing:0.2pt;">PO Box 472</font> <br ><font style="letter-spacing:0.2pt;">103 South Church Street</font> <br ><font style="letter-spacing:0.2pt;">Grand Cayman, KY1-1106, Cayman Islands</font><br ><font style="letter-spacing:0.2pt;">Email: rthorp@traversthorpalberga.com</font><br ><font style="letter-spacing:0.2pt;">Attention: Richard Thorp </font></div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">with a copy (which shall not constitute notice) to: </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cooley LLP</font> <br ><font style="letter-spacing:0.2pt;">55 Hudson Yards</font> <br ><font style="letter-spacing:0.2pt;">New York, New York 10001</font> <br ><font style="letter-spacing:0.2pt;">Attn: Will H. Cai</font> <br ><font style="letter-spacing:0.2pt;">Email: wcai@cooley.com </font></div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">with a copy (which shall not constitute notice) to: </font>
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        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Davis Polk &amp; Wardwell LLP</font> <br ><font style="letter-spacing:0.2pt;">450 Lexington Avenue</font> <br ><font style="letter-spacing:0.2pt;">New York, NY 10017</font></div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-50</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a><a name="t1NWR">&#8203;</a><a name="t1LBN">&#8203;</a><a name="t1EAR">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:60pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Attn: Howard Zhang</font> <br ><font style="letter-spacing:0.2pt;">Email: howard.zhang@davispolk.com </font></div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">if to any SPAC Party, to: </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Blue Safari Group Acquisition Corp.</font> <br ><font style="letter-spacing:0.2pt;">Cheung Kong Center,</font> <br ><font style="letter-spacing:0.2pt;">58 Floor, Unit 5801</font> <br ><font style="letter-spacing:0.2pt;">2 Queens Road Central</font> <br ><font style="letter-spacing:0.2pt;">Central</font> <br ><font style="letter-spacing:0.2pt;">Hong Kong</font> <br ><font style="letter-spacing:0.2pt;">Attn: Serena Shie</font> <br ><font style="letter-spacing:0.2pt;">Email: serena@firsteuro.co </font></div>
        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">with a copy (which shall not constitute notice) to: </font>
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        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Davis Polk &amp; Wardwell LLP</font> <br ><font style="letter-spacing:0.2pt;">450 Lexington Avenue</font> <br ><font style="letter-spacing:0.2pt;">New York, NY 10017</font> <br ><font style="letter-spacing:0.2pt;">Attn: Howard Zhang</font> <br ><font style="letter-spacing:0.2pt;">Email: howard.zhang@davispolk.com </font></div>
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          <font style="letter-spacing:0.2pt;">14.2&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Amendments; No Waivers; Remedies</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;This Agreement cannot be amended, except by a writing signed by each of the SPAC Parties (prior to the Acquisition Merger Effective Time) and the Company, and cannot be terminated orally or by course of conduct. No provision hereof can be waived, except by a writing signed by the party against whom such waiver is to be enforced, and any such waiver shall apply only in the particular instance in which such waiver shall have been given. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Neither any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction of any condition herein nor any course of dealing shall constitute a waiver of or prevent any party from enforcing any right or remedy or from requiring satisfaction of any condition. No notice to or demand on a party waives or otherwise affects any obligation of that party or impairs any right of the party giving such notice or making such demand, including any right to take any action without notice or demand not otherwise required by this Agreement. No exercise of any right or remedy with respect to a breach of this Agreement shall preclude exercise of any other right or remedy, as appropriate to make the aggrieved party whole with respect to such breach, or subsequent exercise of any right or remedy with respect to any other breach. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Except as otherwise expressly provided herein, no statement herein of any right or remedy shall impair any other right or remedy stated herein or that otherwise may be available. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Notwithstanding anything else contained herein, neither shall any party seek, nor shall any party be liable for, punitive or exemplary damages, under any tort, contract, equity, or other legal theory, with respect to any breach (or alleged breach) of this Agreement or any provision hereof or any matter otherwise relating hereto or arising in connection herewith. </font>
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          <font style="letter-spacing:0.2pt;">14.3&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Arm&#8217;s Length Bargaining; No Presumption Against Drafter</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;This Agreement has been negotiated at arm&#8217;s-length by parties of equal bargaining strength, each represented by counsel or having had but declined the opportunity to be represented by counsel and having participated in the drafting of this Agreement. This Agreement creates no fiduciary or other special relationship between the parties, and no such relationship otherwise exists. No presumption in favor of or against any party in the construction or interpretation of this Agreement or any provision hereof shall be made based upon which Person might have drafted this Agreement or such provision. </font>
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          <font style="letter-spacing:0.2pt;">14.4&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Publicity</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as required by law and except with respect to the SPAC SEC Documents, the parties agree that neither they nor their agents shall issue any press release or make any other public disclosure concerning the transactions contemplated hereunder without the prior approval of the other party hereto. If </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a><a name="t1EPS">&#8203;</a><a name="t1AOD">&#8203;</a><a name="t1GOLA">&#8203;</a><a name="t1TAM1">&#8203;</a><a name="t1ATA">&#8203;</a><a name="t1ADB">&#8203;</a><a name="t1OCT">&#8203;</a>
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          <font style="letter-spacing:0.2pt;">a party is required to make such a disclosure as required by law, the parties will use their best efforts to cause a mutually agreeable release or public disclosure to be issued. </font>
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          <font style="letter-spacing:0.2pt;">14.5&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Expenses</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each party shall bear its own costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby, unless otherwise specified herein; provided that, any filing fees payable by SPAC with respect to any regulatory or governmental filings relating to the transactions contemplated by this Agreement, whether or not such transactions shall be consummated, shall be shared equally by the Company and SPAC. </font>
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          <font style="letter-spacing:0.2pt;">14.6&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">No Assignment or Delegation</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No party may assign any right or delegate any obligation hereunder, including by merger, consolidation, operation of law, or otherwise, without the written consent of the other party. Any purported assignment or delegation without such consent shall be void, in addition to constituting a material breach of this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">14.7&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Governing Law</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;This Agreement shall be construed in accordance with and governed by the laws of the State of New York, without giving effect to the conflict of laws principles thereof. </font>
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          <font style="letter-spacing:0.2pt;">14.8&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Counterparts</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;This Agreement may be executed and delivered (including by e-mail of PDF or scanned versions or facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. </font>
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          <font style="letter-spacing:0.2pt;">14.9&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Entire Agreement</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;This Agreement together with the Additional Agreements, including any exhibits and schedules attached hereto or thereto, sets forth the entire agreement of the parties with respect to the subject matter hereof and thereof and supersedes all prior and contemporaneous understandings and agreements related thereto (whether written or oral), all of which are merged herein. No provision of this Agreement or any Additional Agreement, including any exhibits and schedules attached hereto or thereto, may be explained or qualified by any agreement, negotiations, understanding, discussion, conduct or course of conduct or by any trade usage. Except as otherwise expressly stated herein or any Additional Agreement, there is no condition precedent to the effectiveness of any provision hereof or thereof. No party has relied on any representation from, or warranty or agreement of, any person in entering into this Agreement, prior hereto or contemporaneous herewith or any Additional Agreement, except those expressly stated herein or therein. For the avoidance of any doubt, the Original Merger Agreement shall be amended and restated in its entirety by this Agreement on the date of this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">14.10&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Severability</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;A determination by a court or other legal authority that any provision that is not of the essence of this Agreement is legally invalid shall not affect the validity or enforceability of any other provision hereof. The parties shall cooperate in good faith to substitute (or cause such court or other legal authority to substitute) for any provision so held to be invalid a valid provision, as alike in substance to such invalid provision as is lawful. </font>
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          <font style="letter-spacing:0.2pt;">14.11&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Construction of Certain Terms and References; Captions</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In this Agreement: </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;References to particular sections and subsections, schedules, and exhibits not otherwise specified are cross-references to sections and subsections, schedules, and exhibits of this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The words &#8220;herein,&#8221; &#8220;hereof,&#8221; &#8220;hereunder,&#8221; and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement, and, unless the context requires otherwise, &#8220;party&#8221; means a party signatory hereto. </font>
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          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Any use of the singular or plural, or the masculine, feminine, or neuter gender, includes the others, unless the context otherwise requires; &#8220;including&#8221; means &#8220;including without limitation;&#8221; &#8220;or&#8221; means &#8220;and/or;&#8221; &#8220;any&#8221; means &#8220;any one, more than one, or all;&#8221; and, unless otherwise specified, any financial or accounting term has the meaning of the term under United States generally accepted accounting principles as consistently applied heretofore by the Company Group. </font>
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          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;Unless otherwise specified, any reference to any agreement (including this Agreement), instrument, or other document includes all schedules, exhibits, or other attachments referred to therein, and any reference to a statute or other law includes any rule, regulation, ordinance, or the like promulgated thereunder, in each case, as amended, restated, supplemented, or otherwise modified from time to time; </font>
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          <font style="letter-spacing:0.2pt;">provided that with respect to any agreement or contract listed in the Company Disclosure Schedule, all such amendments, modifications or supplements must also be listed in the Company Disclosure Schedule. Any reference to a numbered schedule means the same-numbered section of the disclosure schedule. </font>
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          <font style="letter-spacing:0.2pt;">(e)&nbsp;&nbsp;&nbsp;If any action is required to be taken or notice is required to be given within a specified number of days following a specific date or event, the day of such date or event is not counted in determining the last day for such action or notice. If any action is required to be taken or notice is required to be given on or before a particular day which is not a Business Day, such action or notice shall be considered timely if it is taken or given on or before the next Business Day. </font>
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          <font style="letter-spacing:0.2pt;">(f)&nbsp;&nbsp;&nbsp;Captions are not a part of this Agreement, but are included for convenience, only. </font>
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          <font style="letter-spacing:0.2pt;">(g)&nbsp;&nbsp;&nbsp;For the avoidance of any doubt, all references in this Agreement to &#8220;the knowledge of the Company Group&#8221; or similar terms shall be deemed to include the actual or constructive (e.g., implied by Law) knowledge of the Key Personnel. </font>
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          <font style="letter-spacing:0.2pt;">14.12&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Further Assurances</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each party shall execute and deliver such documents and take such action, as may reasonably be considered within the scope of such party&#8217;s obligations hereunder, necessary to effectuate the transactions contemplated by this Agreement. </font>
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          <font style="letter-spacing:0.2pt;">14.13&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Third Party Beneficiaries</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the parties hereto, any right or remedies under or by reason of this Agreement; provided, however, that notwithstanding the foregoing (a)&#160;in the event the Acquisition Closing occurs, the present and former officers and directors of the SPAC Parties (and their respective successors, heirs and representatives) and each of their respective Affiliates are intended third-party beneficiaries of, and may enforce, Section&#160;8.7 and (b)&#160;the past, present and future directors, officers, employees, incorporators, members, partners, stockholders, Affiliates, agents, attorneys, advisors and representatives any party, and any Affiliate of any of the foregoing (and their successors, heirs and representatives), are intended third-party beneficiaries of, and may enforce, Section&#160;14.16 and Section&#160;14.17. </font>
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          <font style="letter-spacing:0.2pt;">14.14&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Non-survival of Representations, Warranties and Covenants</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The representations, warranties, covenants, obligations or other agreements in this Agreement, including any rights arising out of any breach of such representations, warranties, covenants, obligations, agreements and other provisions, shall not survive the Closing Date and shall terminate and expire upon the occurrence of the Acquisition Closing (and there shall be no liability after the Closing Date in respect thereof), except for those covenants and agreements contained herein that by their terms apply or are to be performed in whole or in part after the Acquisition Closing (which such covenants and agreements shall survive the Acquisition Closing and continue until fully performed in accordance with their terms). Nothing in this Section&#160;14.14 shall be construed to modify or otherwise affect the provisions of Section&#160;8.7 and Section&#160;14.15. </font>
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          <font style="letter-spacing:0.2pt;">14.15&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Waiver</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Reference is made to the final IPO prospectus of the SPAC, dated June&#160;9, 2021 (the &#8220;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Prospectus</font><font style="letter-spacing:0.2pt;">&#8221;). The Company Group have read the Prospectus and understand that the SPAC has established the Trust Account for the benefit of the public shareholders of the SPAC and the underwriters of the IPO pursuant to the Investment Management Trust Agreement and that, except for a portion of the interest earned on the amounts held in the Trust Account, the SPAC may disburse monies from the Trust Account only for the purposes set forth in the Investment Management Trust Agreement. For and in consideration of the SPAC agreeing to enter into this Agreement, the Company Group hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies in the Trust Account and hereby agrees that it will not seek recourse against the Trust Account for any claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the SPAC. </font>
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          <font style="letter-spacing:0.2pt;">14.16&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Enforcement</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The parties hereto agree that irreparable damage for which monetary damages, even if available, would not be inadequate remedy, would occur in the event that the parties hereto do not perform their respective obligations under the provisions of this Agreement or any Additional Agreement in accordance with their respective specified terms or otherwise breach such provisions. The parties hereto acknowledge and agree that the parties hereto shall be entitled to an injunction, specific performance, or other equitable relief, to prevent breaches of this Agreement and any Additional Agreement and to enforce specifically </font>
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          <font style="letter-spacing:0.2pt;">the terms and provisions hereof and thereof, without proof of damages or inadequacy of any remedy at applicable Law, prior to the valid termination of this Agreement in accordance with Section&#160;13.1, this being in addition to any other remedy to which they are entitled under this Agreement or any Additional Agreement or applicable Law. </font>
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          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;Each party hereto agrees that it will not oppose the granting of specific performance and other equitable relief on the basis that the other parties have an adequate remedy at law or that an award of specific performance is not an appropriate remedy for any reason at law or equity. The parties hereto acknowledge and agree that any party seeking an injunction to prevent breaches of this Agreement or any Additional Agreement and to enforce specifically the terms and provisions of this Agreement or any Additional Agreement in accordance with this Section&#160;14.16(b) shall not be required to provide any bond or other security in connection with any such injunction. The parties hereto acknowledge and agree that nothing contained in this Section&#160;14.16 shall require any party to institute any proceeding for (or limit any party&#8217;s right to institute any proceeding for) specific performance under this Section&#160;14.16 before exercising any termination right under Section&#160;13.1 or pursuing damages. </font>
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          <font style="letter-spacing:0.2pt;">14.17&nbsp;&nbsp;&nbsp;</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Non-Recourse</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;This Agreement may only be enforced against, and any Action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby may only be brought against, the entities that are expressly named as parties hereto and then only with respect to the specific obligations set forth herein with respect to such party. No past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of any named party to this Agreement and no past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of any of the foregoing shall have any liability (whether in contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other obligations or liabilities of any one or more of the parties to this Agreement of or for any Action based on, arising out of, or related to this Agreement or the transactions contemplated hereby. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A-54</font>
          <br >
        </div>
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      <hr >
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. </font>
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        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
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        <div style="margin-left:220pt; margin-top:12pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Blue Safari Group Acquisition Corp.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
          <font style="letter-spacing:0.2pt;">/s/ Naphat Sirimongkolkasem</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
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        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
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        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
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        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Director </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
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          <font style="letter-spacing:-0.2pt;">Blue Safari Mini Corp.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:220pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
          <font style="letter-spacing:0.2pt;">/s/ Naphat Sirimongkolkasem</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Name:</font>
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        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
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        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
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      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. </font>
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          <font style="letter-spacing:-0.2pt;">Bitdeer Technologies Group</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:220pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
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          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
          <font style="letter-spacing:0.2pt;">/s/ Clara Yuexi Jiang</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Name:</font>
          <br >
        </div>
        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Clara Yuexi Jiang</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Title:</font>
          <br >
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        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Director </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
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        <div style="margin-left:220pt; margin-top:12pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Blue Safari Merge Limited</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; margin-left:220pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
          <font style="letter-spacing:0.2pt;">/s/ Clara Yuexi Jiang</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Name:</font>
          <br >
        </div>
        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Clara Yuexi Jiang</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Title:</font>
          <br >
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        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Director </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
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        <div style="margin-left:220pt; margin-top:12pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Blue Safari Merge II Limited</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:220pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
          <font style="letter-spacing:0.2pt;">/s/ Clara Yuexi Jiang</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Name:</font>
          <br >
        </div>
        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Clara Yuexi Jiang</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Title:</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Director </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Merger Sub 3: </font>
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        <div style="margin-left:220pt; margin-top:12pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer Merge Limited</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; margin-left:220pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
          <font style="letter-spacing:0.2pt;">/s/ Clara Yuexi Jiang</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Name:</font>
          <br >
        </div>
        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Clara Yuexi Jiang</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Title:</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Director </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. </font>
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        <div style="margin-left:220pt; margin-top:8pt; text-align:justify; width:236pt; line-height:12pt;">
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        <div style="margin-left:220pt; margin-top:12pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Bitdeer Technologies Holding Company</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:220pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;">
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:240pt; margin-top:2.5pt; width:216pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-left:240pt; margin-top:2pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Name:</font>
          <br >
        </div>
        <div style=" margin-top:2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">WU Jihan </font><font style="font-family:MSungHK-Light;">&#21556;&#24524;&#23506;</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:35pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Title:</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:275pt;">
          <font style="letter-spacing:0.2pt;">Director </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">SCHEDULE I</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Mr.&#160;Alan Yamashita </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Mr.&#160;Alex Yamashita </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Mr.&#160;Naphat Sirimongkolkasem </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Mr.&#160;Mark Streeter </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Mr.&#160;Joseph Chow </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Dr.&#160;Rolf Hoefer </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Ms.&#160;Serena Shie</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; text-align:right; width:436pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Annex B</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE COMPANIES ACT (AS REVISED)</font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OF THE CAYMAN ISLANDS</font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMPANY LIMITED BY SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">AMENDED AND RESTATED</font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">MEMORANDUM OF ASSOCIATION</font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OF</font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES GROUP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(Adopted by a Special Resolution passed on [&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;], [&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;] and effective at the Acquisition Merger Effective Time (as defined herein)) </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The name of the Company is Bitdeer Technologies Group. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Registered Office of the Company will be at the offices of International Corporation Services Ltd., P.O. Box 472, Harbour Place, 2nd Floor, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands, or at such other location within the Cayman Islands as the Directors may from time to time determine. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The objects for which the Company is established are unrestricted and the Company shall have full power and authority to carry out any object not prohibited by the Companies Act or any other law of the Cayman Islands. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Company shall have and be capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit as provided by the Companies Act. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Company will not trade in the Cayman Islands with any person, firm or corporation except in furtherance of the business of the Company carried on outside the Cayman Islands; provided that nothing in this section shall be construed as to prevent the Company effecting and concluding contracts in the Cayman Islands, and exercising in the Cayman Islands all of its powers necessary for the carrying on of its business outside the Cayman Islands. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The liability of each Shareholder is limited to the amount, if any, unpaid on the Shares held by such Shareholder. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.91pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
          <br >
        </div>
        <div style=" margin-top:7.91pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The authorized share capital of the Company is US$50,000 divided into 500,000,000,000 shares of a par value of US$0.0000001 each comprising: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">[&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;] Class&#160;A Ordinary Shares of a par value of US$0.0000001 each, </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">[&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;] Class&#160;V Ordinary Shares of a par value of US$0.0000001 each, and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">[&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;] undesignated shares of a par value of US$0.0000001 each, of such class or classes (however designated) as the board of directors may determine in accordance with Articles 8 and 9 of the Articles of Association of the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subject to the Companies Act and the Articles, the board of directors shall have power to redeem or purchase any of the Company&#8217;s Shares and to increase or reduce its authorized share capital and to sub-divide or consolidate the said Shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the board of directors hereinbefore provided. </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The Company has the power contained in the Companies Act to deregister in the Cayman Islands and be registered by way of continuation in some other jurisdiction. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Capitalized terms that are not defined in this Memorandum of Association bear the same meanings as those given in the Articles of Association of the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE COMPANIES ACT (AS REVISED) </font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OF THE CAYMAN ISLANDS </font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">COMPANY LIMITED BY SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">AMENDED AND RESTATED </font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLES OF ASSOCIATION </font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OF </font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES GROUP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(Adopted by a Special Resolution passed on [&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;], [&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;] and effective at the Acquisition Merger Effective Time (as defined herein)) </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TABLE A</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The regulations contained or incorporated in Table &#8216;A&#8217; in the First Schedule of the Companies Act shall not apply to the Company and the following Articles shall comprise the Articles of Association of the Company. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INTERPRETATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">In these Articles the following defined terms will have the meanings ascribed to them, if not inconsistent with the subject or context: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <table style="width:431pt;margin-bottom:5pt;margin-left:25pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:156pt;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Acquisition Merger Effective Time&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">Means the &#8220;Acquisition Merger Effective Time&#8221; as defined under the Amended and Restated Agreement and Plan of Merger as of December [15], 2021, by and among Bitdeer Technologies Group, Bitdeer Technologies Holding Company, Blue Safari Group Acquisition Corp., Blue Safari Merge Limited, Blue Safari Merge II Limited, Bitdeer Merge Limited, and Blue Safari Mini Corp.; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;ADS&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means an American Depositary Share representing Ordinary Shares; </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Affiliate&#8221;</font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means in respect of a Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person, and (i)&#160;in the case of a natural person, shall include, without limitation, such person&#8217;s spouse, parents, children, siblings, mother-in-law, father-in-law, brothers-in-law and sisters-in-law, a trust for the benefit of any of the foregoing, and a corporation, partnership or any other entity wholly or jointly owned by any of the foregoing, and (ii)&#160;in the case of an entity, shall include a partnership, a corporation or any other entity or any natural person which directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity. The term &#8220;control&#8221; shall mean the ownership, directly or indirectly, of shares possessing more than fifty per cent (50%) of the voting power of the corporation, partnership or other entity (other than, in the case of a corporation, securities having such power only by reason of the happening of a contingency), or having the power to control the management or elect a majority of members to the </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:431pt;margin-left:25pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;min-height:25pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:156pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">board of directors or equivalent decision-making body of such corporation, partnership or other entity; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Articles&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means these articles of association of the Company, as from time to time altered or added to in accordance with the Companies Act and these Articles; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Beneficial Ownership,&#8221; &#8220;Beneficially Own&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">or similar references have the same meaning ascribed to such terms under Rule&#160;13d-3 of the Securities Exchange Act of 1934; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <font style="font-weight:bold;letter-spacing:-0.2pt;">&#8220;Board&#8221;</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-weight:bold;letter-spacing:-0.2pt;">&#8220;Board of Directors&#8221;</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-weight:bold;letter-spacing:-0.2pt;">&#8220;Directors&#8221;</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the directors of the Company for the time being, or as the case may be, the directors assembled as a board or as a committee thereof; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;min-height:19pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:5.5pt 0pt 3.5pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Chairman&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:5.5pt 0pt 3.5pt 0pt; width:263pt;">
              <font style="letter-spacing:0.2pt;">means the chairman of the Board of Directors; </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Class&#8221; or &#8220;Classes&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means any class or classes of Shares as may from time to time be issued by the Company; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Class&#160;A Ordinary Share&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means a Class&#160;A Ordinary Share of a par value of US$0.0000001 in the capital of the Company and having the rights provided for in these Articles; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Class&#160;V Ordinary Share&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means a Class&#160;V Ordinary Share of a par value of US$0.0000001 in the capital of the Company and having the rights provided for in these Articles; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Commission&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the Securities and Exchange Commission of the United States of America or any other federal agency for the time being administering the Securities Act; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Communications Facilities&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means technology (including without limitation video, video-conferencing, internet or online conferencing applications, telephone or tele-conferencing and/or other video-communications, internet or online conferencing application or telecommunications facilities) by which natural persons are capable of hearing and being heard by each other; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Company&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means Bitdeer Technologies Group, a Cayman Islands exempted company; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Companies Act&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the Companies Act (As Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Company&#8217;s Website&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the main corporate/investor relations website of the Company, the address or domain name of which has been disclosed in any registration statement filed by the Company with the Commission in connection with its initial public offering of ADSs, or which has otherwise been notified to Shareholders; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Depositary&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means an entity appointed to perform the depositary functions under a deposit agreement to which the Company is a party; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Designated Stock Exchange&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the stock exchange in the United States on which any Shares and ADSs are listed for trading; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:57pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Designated Stock Exchange Rules&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares or ADSs on the Designated Stock Exchange; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:33pt;margin-left:69.66pt;width:456pt;">
        <table style="width:431pt;margin-left:25pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;min-height:49pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;electronic&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">has the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:55pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;electronic communication&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means electronic posting to the Company&#8217;s Website, transmission to any number, address or internet website or other electronic delivery methods as otherwise decided and approved by not less than two-thirds of the vote of the Board; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Electronic Transactions Act&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the Electronic Transactions Act (As Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:55pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;electronic record&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">has the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;min-height:19pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:5.5pt 0pt 3.5pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Founder&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:5.5pt 0pt 3.5pt 0pt; width:263pt;">
              <font style="letter-spacing:0.2pt;">means WU Jihan; </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Founder Entities&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means, collectively, (i)&#160;Founder, (ii)&#160;all limited partnerships, private companies or other vehicles of which more than 50% beneficial ownership or voting power are held directly or indirectly by the Founder, and (iii)&#160;a trust controlled by the Founder for the benefit of the Founder or his family, and all limited partnership, private companies or other vehicles wholly owned by such trust , including without limitation, Victory Courage Limited; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 4.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Incapacity&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 4.833pt 0pt; width:263pt;white-space:normal;">
              <div style="line-height:10pt;">
                <font style="letter-spacing:0.2pt;">means, in relation to an individual, that either:</font>
              </div>
              <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(a)</font>
                <br >
              </div>
              <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">a court of competent jurisdiction has determined that the individual is incapable, by reason of mental disorder, of managing and administering his property and affairs (or the equivalent, applying the relevant test in that jurisdiction); or</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
              <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(b)</font>
                <br >
              </div>
              <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">in the absence of a determination by a court of competent jurisdiction, an appropriately qualified medical practitioner approved by the Board of Directors has determined in writing that the individual is incapable, by reason of mental disorder, of managing and administering his property and affairs,</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
              <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(c)</font>
                <br >
              </div>
              <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">and that determination has not been reversed by a court of competent jurisdiction or by the same or another such medical practitioner. The Directors have no duty to enquire into the mental incapacity of any individual unless they have actual knowledge of circumstances which call for enquiry; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:33pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 11.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Memorandum of Association&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 11.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the memorandum of association of the Company, as amended or substituted from time to time; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-4</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <table style="width:431pt;margin-left:25pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 4.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Ordinary Resolution&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 4.833pt 0pt; width:263pt;white-space:normal;">
              <div style="line-height:10pt;">
                <font style="letter-spacing:0.2pt;">means a resolution:</font>
              </div>
              <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(a)</font>
                <br >
              </div>
              <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">passed by a simple majority of the votes cast by such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives, at a general meeting of the Company held in accordance with these Articles; or </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:156pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;">
              <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(b)</font>
                <br >
              </div>
              <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">approved in writing by all of the Shareholders entitled to vote at a general meeting of the Company in one or more instruments each signed by one or more of the Shareholders and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments, if more than one, is executed; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Ordinary Shares&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the Class&#160;A Ordinary Shares and the Class&#160;V Ordinary Shares; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;paid up&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means paid up as to the par value in respect of the issue of any Shares and includes credited as paid up; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:55pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Person&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having a separate legal personality) or any of them as the context so requires; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Present&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means, in respect of any Person, such Person&#8217;s presence at a general meeting of Shareholders, which may be satisfied by means of such Person or, if a corporation or other non-natural Person, its duly authorized representative (or, in the case of any Shareholder, a proxy which has been validly appointed by such Shareholder in accordance with these Articles), being: (a)&#160;physically present at the venue specified in the notice convening the meeting; or (b)&#160;in the case of any meeting at which Communications Facilities are permitted in accordance with these Articles, including any Virtual Meeting, connected by Communication Facilities in accordance with procedures specified in the notice convening such general meeting; and &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Presence</font><font style="letter-spacing:0.2pt;">&#8221; shall be construed accordingly; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:43pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;RADSs&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means ADSs of the Company subject to transfer restrictions imposed pursuant to the deposit agreement under which such ADSs are issued; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Register&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the register of Members of the Company maintained in accordance with the Companies Act; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Registered Office&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the registered office of the Company as required by the Companies Act; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Seal&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the common seal of the Company (if adopted) including any facsimile thereof; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:33pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Secretary&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means any Person appointed by the Directors to perform any of the duties of the secretary of the Company; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:431pt;margin-left:25pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;min-height:49pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Securities Act&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the Securities Act of 1933 of the United States of America, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Share&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means a share in the capital of the Company. All references to &#8220;Shares&#8221; herein shall be deemed to be Shares of any or all Classes as the context may require. For the avoidance of doubt in these Articles the expression &#8220;Share&#8221; shall include a fraction of a Share; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Shareholder&#8221; or &#8220;Member&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means a Person who is registered as the holder of one or more Shares in the Register; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Share Premium Account&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the share premium account established in accordance with these Articles and the Companies Act; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;signed&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means bearing a signature or representation of a signature affixed by mechanical means or an electronic symbol or process attached to or logically associated with an electronic communication and executed or adopted by a Person with the intent to sign the electronic communication; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 4.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Special Resolution&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 4.833pt 0pt; width:263pt;white-space:normal;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means a special resolution of the Company passed in accordance with the Companies Act, being a resolution:</font>
              </div>
              <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(a)</font>
                <br >
              </div>
              <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">passed by not less than two-thirds of the votes cast by such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives, at a general meeting of the Company of which notice specifying the intention to propose the resolution as a special resolution has been duly given; or</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
              <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">(b)</font>
                <br >
              </div>
              <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
                <font style="letter-spacing:0.2pt;">approved in writing by all of the Shareholders entitled to vote at a general meeting of the Company in one or more instruments each signed by one or more of the Shareholders and the effective date of the special resolution so adopted shall be the date on which the instrument or the last of such instruments, if more than one, is executed; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Treasury Share&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means a Share held in the name of the Company as a treasury share in accordance with the Companies Act; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:31pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;United States&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means the United States of America, its territories, its possessions and all areas subject to its jurisdiction; and </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:156pt;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">&#8220;Virtual Meeting&#8221;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4.167pt 0pt 2.833pt 0pt; width:263pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">means any general meeting of the Shareholders at which the Shareholders (and any other permitted participants of such meeting, including without limitation the chairman of the meeting and any Directors) are permitted to be Present solely by means of Communications Facilities.</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:17.19pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:17.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">In these Articles, save where the context requires otherwise: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:9.2pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:9.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">words importing the singular number shall include the plural number and vice versa; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:9.19pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">words importing the masculine gender only shall include the feminine gender and any Person as the context may require; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:25pt; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the word &#8220;may&#8221; shall be construed as permissive and the word &#8220;shall&#8221; shall be construed as imperative; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">reference to a dollar or dollars (or US$) and to a cent or cents is reference to dollars and cents of the United States of America; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(e)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">reference to a statutory enactment shall include reference to any amendment or re-enactment thereof for the time being in force; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(f)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">reference to any determination by the Directors shall be construed as a determination by the Directors in their sole and absolute discretion and shall be applicable either generally or in any particular case; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(g)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">reference to &#8220;in writing&#8221; shall be construed as written or represented by any means reproducible in writing, including any form of print, lithograph, email, facsimile, photograph or telex or represented by any other substitute or format for storage or transmission for writing including in the form of an electronic record or partly one and partly another; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(h)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">any requirements as to delivery under the Articles include delivery in the form of an electronic record or an electronic communication; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">any requirements as to execution or signature under the Articles, including the execution of the Articles themselves, can be satisfied in the form of an electronic signature as defined in the Electronic Transaction Act; and </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(j)</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">Sections&#160;8 and 19(3) of the Electronic Transactions Act shall not apply. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the last two preceding Articles, any words defined in the Companies Act shall, if not inconsistent with the subject or context, bear the same meaning in these Articles. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PRELIMINARY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The business of the Company may be conducted as the Directors see fit. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Registered Office shall be at such address in the Cayman Islands as the Directors may from time to time determine. The Company may in addition establish and maintain such other offices and places of business and agencies in such places as the Directors may from time to time determine. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The expenses incurred in the formation of the Company and in connection with the offer for subscription and issue of Shares shall be paid by the Company. Such expenses may be amortized over such period as the Directors may determine and the amount so paid shall be charged against income and/or capital in the accounts of the Company as the Directors shall determine. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors shall keep, or cause to be kept, the Register at such place as the Directors may from time to time determine and, in the absence of any such determination, the Register shall be kept at the Registered Office. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.</font>
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        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to these Articles, all Shares for the time being unissued shall be under the control of the Directors who may, in their absolute discretion and without the approval of the Members, cause the Company to: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">issue, allot and dispose of Shares (including, without limitation, preferred shares) (whether in certificated form or non-certificated form) to such Persons, in such manner, on such terms and having such rights and being subject to such restrictions as they may from time to time determine; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">grant rights over Shares or other securities to be issued in one or more classes or series as they deem necessary or appropriate and determine the designations, powers, preferences, privileges and other rights attaching to such Shares or securities, including dividend rights, voting rights, conversion rights, terms of redemption and liquidation preferences, any or all of which may be </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-7</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:49pt; text-align:justify; width:407pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">greater than the powers, preferences, privileges and rights associated with the then issued and outstanding Shares, at such times and on such other terms as they think proper; and </font>
        </div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
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        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">grant options with respect to Shares and issue warrants or similar instruments with respect thereto. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.41pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.</font>
          <br >
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        <div style=" margin-top:7.41pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may authorize the division of Shares into any number of Classes and the different Classes shall be authorized, established and designated (or re-designated as the case may be) and the variations in the relative rights (including, without limitation, voting, dividend and redemption rights), restrictions, preferences, privileges and payment obligations as between the different Classes (if any) may be fixed and determined by the Directors or by a Special Resolution. The Directors may issue Shares with such preferred or other rights, all or any of which may be greater than the rights of Ordinary Shares, at such time and on such terms as they may think appropriate. Notwithstanding Article&#160;17, the Directors may issue from time to time, out of the authorized share capital of the Company (other than the authorized but unissued Ordinary Shares), series of preferred shares in their absolute discretion and without approval of the Members; provided, however, before any preferred shares of any such series are issued, the Directors shall by resolution of Directors determine, with respect to any series of preferred shares, the terms and rights of that series, including: </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
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        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the designation of such series, the number of preferred shares to constitute such series and the subscription price thereof if different from the par value thereof; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
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        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred shares of such series shall have voting rights, in addition to any voting rights provided by law, and, if so, the terms of such voting rights, which may be general or limited; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the dividends, if any, payable on such series, whether any such dividends shall be cumulative, and, if so, from what dates, the conditions and dates upon which such dividends shall be payable, and the preference or relation which such dividends shall bear to the dividends payable on any shares of any other class or any other series of shares; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
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        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred shares of such series shall be subject to redemption by the Company, and, if so, the times, prices and other conditions of such redemption; </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(e)</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred shares of such series shall have any rights to receive any part of the assets available for distribution amongst the Members upon the liquidation of the Company, and, if so, the terms of such liquidation preference, and the relation which such liquidation preference shall bear to the entitlements of the holders of shares of any other class or any other series of shares; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(f)</font>
          <br >
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        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred shares of such series shall be subject to the operation of a retirement or sinking fund and, if so, the extent to and manner in which any such retirement or sinking fund shall be applied to the purchase or redemption of the preferred shares of such series for retirement or other corporate purposes and the terms and provisions relative to the operation thereof; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.41pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(g)</font>
          <br >
        </div>
        <div style=" margin-top:7.41pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred shares of such series shall be convertible into, or exchangeable for, shares of any other class or any other series of preferred shares or any other securities and, if so, the price or prices or the rate or rates of conversion or exchange and the method, if any, of adjusting the same, and any other terms and conditions of conversion or exchange; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(h)</font>
          <br >
        </div>
        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the limitations and restrictions, if any, to be effective while any preferred shares of such series are outstanding upon the payment of dividends or the making of other distributions on, and upon the purchase, redemption or other acquisition by the Company of, the existing shares or shares of any other class of shares or any other series of preferred shares; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the conditions or restrictions, if any, upon the creation of indebtedness of the Company or upon the issue of any additional shares, including additional shares of such series or of any other class of shares or any other series of preferred shares; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(j)</font>
          <br >
        </div>
        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">any other powers, preferences and relative, participating, optional and other special rights, and any qualifications, limitations and restrictions thereof; </font>
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        <div style="margin-left:25pt; margin-top:8pt; text-align:justify; width:431pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued. The Company shall not issue Shares to bearer. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-8</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">10.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may insofar as may be permitted by law, pay a commission to any Person in consideration of his subscribing or agreeing to subscribe whether absolutely or conditionally for any Shares. Such commissions may be satisfied by the payment of cash or the lodgment of fully or partly paid-up Shares or partly in one way and partly in the other. The Company may also pay such brokerage as may be lawful on any issue of Shares. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may refuse to accept any application for Shares, and may accept any application in whole or in part, for any reason or for no reason. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CLASS A ORDINARY SHARES AND CLASS V ORDINARY SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to Article&#160;18, holders of Class&#160;A Ordinary Shares and Class&#160;V Ordinary Shares shall at all times vote together as one class on all resolutions submitted to a vote by the Members. Each Class&#160;A Ordinary Share shall entitle the holder thereof to one (1)&#160;vote on all matters subject to vote at general meetings or class meetings of the Company, and each Class&#160;V Ordinary Share shall entitle the holder thereof to ten (10) votes on all matters subject to vote at general meetings or class meetings of the Company. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">13.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Class&#160;V Ordinary Shares shall only be held by Founder Entities; provided, however, the Class&#160;V Ordinary Shares are deemed to be &#8220;held by Founder Entities&#8221; if the Depositary holds Class&#160;V Ordinary Shares and issues RADSs to Founder Entities representing such Class&#160;V Ordinary Shares. Each Class&#160;V Ordinary Share shall automatically convert into one (1)&#160;Class&#160;A Ordinary Share in accordance with these Articles (as adjusted for share splits, share combinations and similar transactions) on any transfer by a Founder Entity to a Person (that is not a Founder Entity) of any Beneficial Ownership of, or economic interest in, such Class&#160;V Ordinary Share or the control over the voting rights attached to such Class&#160;V Ordinary Share (through any contracts, voting proxies or otherwise); provided, however, that on the grant by a Founder Entity of any lien, charge, mortgage or other encumbrance (a &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Security Interest</font><font style="letter-spacing:0.2pt;">&#8221;) over the Class&#160;V Ordinary Shares held by it, unless and until the legal ownership of such shares is transferred pursuant to such Security Interest (including any enforcement or foreclosure in connection therewith). </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">14.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Each Class&#160;V Ordinary Share is convertible into one (1)&#160;Class&#160;A Ordinary Share (as adjusted for share splits, share combinations and similar transactions) at any time at the option of the holder thereof. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">15.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Each Class&#160;V Ordinary Share held by a Founder Entity shall automatically convert into one (1)&#160;Class&#160;A Ordinary Share in accordance with these Articles (as adjusted for share splits, share combinations and similar transactions) upon the death or Incapacity of the Founder. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">16.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any conversion of Class&#160;V Ordinary Shares into Class&#160;A Ordinary Shares pursuant to these Articles shall be effected by means of the re-designation of each relevant Class&#160;V Ordinary Share as a Class&#160;A Ordinary Share. Such conversion shall become effective forthwith upon entries being made in the Register to record the re-designation of the relevant Class&#160;V Ordinary Shares as Class&#160;A Ordinary Shares. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">17.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Save and except for voting rights and conversion rights as set out in Articles 12 to 15 (inclusive), the Class&#160;A Ordinary Shares and the Class&#160;V Ordinary Shares shall rank </font><font style="font-style:italic;letter-spacing:0.2pt;">pari&#160;passu</font><font style="letter-spacing:0.2pt;"> with one another and shall have the same rights, preferences, privileges and restrictions. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">MODIFICATION OF RIGHTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">18.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Whenever the capital of the Company is divided into different Classes, the rights attached to any such Class (unless otherwise provided by the terms of issue of the Shares of that Class), whether or not the Company is being wound-up, may be varied with the consent in writing of the holders of two-thirds of the issued Shares of that Class or with the sanction of a Special Resolution passed at a separate meeting of the holders of the Shares of that Class. To every such separate meeting all the provisions of these Articles relating to general meetings of the Company or to the proceedings thereat shall, mutatis mutandis, apply, except that the necessary quorum shall be one or more Persons holding or representing by proxy at least one-third in nominal or par value amount of the issued Shares of the relevant Class (but so that if at any adjourned meeting of such holders a quorum as above defined is not present, those Shareholders who are present shall form a quorum) and that, subject to any rights or restrictions for the </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-9</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:8pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:24pt; text-align:justify; width:432pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">time being attached to the Shares of that Class, every Shareholder of the Class shall on a poll have one vote for each Share of the Class held by him. For the purposes of this Article the Directors may treat all the Classes or any two or more Classes as forming one Class if they consider that all such Classes would be affected in the same way by the proposals under consideration, but in any other case shall treat them as separate Classes. Notwithstanding anything to the contrary in this Article&#160;18, if holders of Class&#160;A Ordinary Shares and Class&#160;V Ordinary Shares vote as one class, each Class&#160;A Ordinary Share shall entitle the holder thereof to one (1)&#160;vote and each Class&#160;V Ordinary Share shall entitle the holder thereof to ten (10) votes on all matters subject to vote at meetings of the holders of Shares of the relevant Class(es). </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The rights conferred upon the holders of the Shares of any Class issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issuance of the Shares of that Class, be deemed to be varied by, inter alia, the creation or issue of further Shares ranking </font><font style="font-style:italic;letter-spacing:0.2pt;">pari&#160;passu</font><font style="letter-spacing:0.2pt;"> with or subsequent to such existing Class of Shares, or the redemption or purchase of any Shares of any Class by the Company. The rights of the holders of Shares shall not be deemed to be varied by the creation or issue of Shares with preferred or other rights including, without limitation, the creation of Shares with enhanced or weighted voting rights. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CERTIFICATES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">20.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Every Person whose name is entered as a Member in the Register may, without payment and upon its written request, request a certificate within two calendar&#160;months after allotment or lodgement of transfer (or within such other period as the conditions of issue shall provide) in the form determined by the Directors. All certificates shall specify the Share or Shares held by that Person, provided that in respect of a Share or Shares held jointly by several Persons the Company shall not be bound to issue more than one certificate, and delivery of a certificate for a Share to one of several joint holders shall be sufficient delivery to all. All certificates for Shares shall be delivered personally or sent through the post addressed to the Member entitled thereto at the Member&#8217;s registered address as appearing in the Register. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">21.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Every share certificate of the Company shall bear legends required under the applicable laws, including the Securities Act. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">22.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any two or more certificates representing Shares of any one Class held by any Member may at the Member&#8217;s request be cancelled and a single new certificate for such Shares issued in lieu on payment (if the Directors shall so require) of one U.S. dollar (US$1.00) or such smaller sum as the Directors shall determine. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">23.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If a share certificate shall be damaged or defaced or alleged to have been lost, stolen or destroyed, a new certificate representing the same Shares may be issued to the relevant Member upon request, subject to delivery up of the old certificate or (if alleged to have been lost, stolen or destroyed) compliance with such conditions as to evidence and indemnity and the payment of out-of-pocket expenses of the Company in connection with the request as the Directors may think fit. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">24.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">In the event that Shares are held jointly by several Persons, any request may be made by any one of the joint holders and if so made shall be binding on all of the joint holders. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FRACTIONAL SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">25.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be subject to and carry the corresponding fraction of liabilities (whether with respect to nominal or par value, premium, contributions, calls or otherwise), limitations, preferences, privileges, qualifications, restrictions, rights (including, without prejudice to the generality of the foregoing, voting and participation rights) and other attributes of a whole Share. If more than one fraction of a Share of the same Class is issued to or acquired by the same Shareholder such fractions shall be accumulated. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-10</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">LIEN</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">26.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company has a first and paramount lien on every Share (whether or not fully paid) for all amounts (whether presently payable or not) payable at a fixed time or called in respect of that Share. The Company also has a first and paramount lien on every Share registered in the name of a Person indebted or under liability to the Company (whether he is the sole registered holder of a Share or one of two or more joint holders) for all amounts owing by him or his estate to the Company (whether or not presently payable). The Directors may at any time declare a Share to be wholly or in part exempt from the provisions of this Article. The Company&#8217;s lien on a Share extends to any amount payable in respect of it, including but not limited to dividends. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.91pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">27.</font>
          <br >
        </div>
        <div style=" margin-top:7.91pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may sell, in such manner as the Directors in their absolute discretion think fit, any Share on which the Company has a lien, but no sale shall be made unless an amount in respect of which the lien exists is presently payable nor until the expiration of fourteen calendar days after a notice in writing, demanding payment of such part of the amount in respect of which the lien exists as is presently payable, has been given to the registered holder for the time being of the Share, or the Persons entitled thereto by reason of his death or bankruptcy. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">28.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">For giving effect to any such sale the Directors may authorize a Person to transfer the Shares sold to the purchaser thereof. The purchaser shall be registered as the holder of the Shares comprised in any such transfer and he shall not be bound to see to the application of the purchase money, nor shall his title to the Shares be affected by any irregularity or invalidity in the proceedings in reference to the sale. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">29.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The proceeds of the sale after deduction of expenses, fees and commissions incurred by the Company shall be received by the Company and applied in payment of such part of the amount in respect of which the lien exists as is presently payable, and the residue shall (subject to a like lien for sums not presently payable as existed upon the Shares prior to the sale) be paid to the Person entitled to the Shares immediately prior to the sale. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CALLS ON SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">30.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the terms of the allotment, the Directors may from time to time make calls upon the Shareholders in respect of any moneys unpaid on their Shares, and each Shareholder shall (subject to receiving at least fourteen calendar days&#8217; notice specifying the time or times of payment) pay to the Company at the time or times so specified the amount called on such Shares. A call shall be deemed to have been made at the time when the resolution of the Directors authorizing such call was passed. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">31.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The joint holders of a Share shall be jointly and severally liable to pay calls in respect thereof. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">32.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If a sum called in respect of a Share is not paid before or on the day appointed for payment thereof, the Person from whom the sum is due shall pay interest upon the sum at the rate of eight&#160;percent per annum from the day appointed for the payment thereof to the time of the actual payment, but the Directors shall be at liberty to waive payment of that interest wholly or in part. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">33.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The provisions of these Articles as to the liability of joint holders and as to payment of interest shall apply in the case of non-payment of any sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on account of the amount of the Share, or by way of premium, as if the same had become payable by virtue of a call duly made and notified. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">34.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may make arrangements with respect to the issue of partly paid Shares for a difference between the Shareholders, or the particular Shares, in the amount of calls to be paid and in the times of payment. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">35.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may, if they think fit, receive from any Shareholder willing to advance the same all or any part of the moneys uncalled and unpaid upon any partly paid Shares held by him, and upon all or any of the moneys so advanced may (until the same would, but for such advance, become presently payable) pay interest at such rate (not exceeding without the sanction of an Ordinary Resolution, eight&#160;percent per annum) as may be agreed upon between the Shareholder paying the sum in advance and the Directors. No such sum paid in advance of calls shall entitle the Member paying such sum to any portion </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-11</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:8pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:24pt; text-align:justify; width:432pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">of a dividend declared in respect of any period prior to the date upon which such sum would, but for such payment, become presently payable. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FORFEITURE OF SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">36.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If a Shareholder fails to pay any call or instalment of a call in respect of partly paid Shares on the day appointed for payment, the Directors may, at any time thereafter during such time as any part of such call or instalment remains unpaid, serve a notice on him requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">37.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The notice shall name a further day (not earlier than the expiration of fourteen calendar days from the date of the notice) on or before which the payment required by the notice is to be made, and shall state that in the event of non-payment at or before the time appointed, the Shares in respect of which the call was made will be liable to be forfeited. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">38.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If the requirements of any such notice as aforesaid are not complied with, any Share in respect of which the notice has been given may at any time thereafter, before the payment required by notice has been made, be forfeited by a resolution of the Directors to that effect. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">39.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A forfeited Share may be sold or otherwise disposed of on such terms and in such manner as the Directors think fit, and at any time before a sale or disposition the forfeiture may be cancelled on such terms as the Directors think fit. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">40.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Person whose Shares have been forfeited shall cease to be a Shareholder in respect of the forfeited Shares, but shall, notwithstanding, remain liable to pay to the Company all moneys which at the date of forfeiture were payable by him to the Company in respect of the Shares forfeited, but his liability shall cease if and when the Company receives payment in full of the amount unpaid on the Shares forfeited. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">41.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A certificate in writing under the hand of a Director that a Share has been duly forfeited on a date stated in the certificate shall be conclusive evidence of the facts in the declaration as against all Persons claiming to be entitled to the Share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">42.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may receive the consideration, if any, given for a Share on any sale or disposition thereof pursuant to the provisions of these Articles as to forfeiture and may execute a transfer of the Share in favor of the Person to whom the Share is sold or disposed of and that Person shall be registered as the holder of the Share and shall not be bound to see to the application of the purchase money, if any, nor shall his title to the Shares be affected by any irregularity or invalidity in the proceedings in reference to the disposition or sale. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">43.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The provisions of these Articles as to forfeiture shall apply in the case of non-payment of any sum which by the terms of issue of a Share becomes due and payable, whether on account of the amount of the Share, or by way of premium, as if the same had been payable by virtue of a call duly made and notified. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TRANSFER OF SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">44.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The instrument of transfer of any Share shall be in writing and in any usual or common form or such other form as the Directors may, in their absolute discretion, approve and be executed by or on behalf of the transferor and if in respect of a nil or partly paid up Share, or if so required by the Directors, shall also be executed on behalf of the transferee and shall be accompanied by the certificate (if any) of the Shares to which it relates and such other evidence as the Directors may reasonably require to show the right of the transferor to make the transfer. The transferor shall be deemed to remain a Shareholder until the name of the transferee is entered in the Register in respect of the relevant Shares. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <table style="border-collapse:collapse;width:456pt;margin-top:8pt;margin-left:0pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="vertical-align:top;">
            <td style="width:24.1pt;padding:0pt;">
              <font style="letter-spacing:0.2pt;">45.</font>
              <br >
            </td>
            <td style="width:24.1pt;padding:0pt;">
              <font style="letter-spacing:0.2pt;">(a)</font>
              <br >
            </td>
            <td>
              <font style="letter-spacing:0.2pt;">The Directors may in their absolute discretion decline to register any transfer of Shares which is not fully paid up or on which the Company has a lien. </font>
            </td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-12</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:25pt; line-height:12pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">The Directors may also decline to register any transfer of any Share unless: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">the instrument of transfer is lodged with the Company, accompanied by the certificate for the Shares to which it relates and such other evidence as the Board may reasonably require to show the right of the transferor to make the transfer; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">the instrument of transfer is in respect of only one Class of Shares; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(iii)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">the instrument of transfer is properly stamped, if required; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(iv)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">in the case of a transfer to joint holders, the number of joint holders to whom the Share is to be transferred does not exceed four; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(v)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">a fee of such maximum sum as the Designated Stock Exchange may determine to be payable, or such lesser sum as the Board of Directors may from time to time require, is paid to the Company in respect thereof. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">46.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The registration of transfers may, on ten calendar days&#8217; notice being given by advertisement in such one or more newspapers, by electronic means or by any other means in accordance with the Designated Stock Exchange Rules, be suspended and the Register closed at such times and for such periods as the Directors may, in their absolute discretion, from time to time determine, provided always that such registration of transfer shall not be suspended nor the Register closed for more than thirty calendar days in any calendar year. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">47.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">All instruments of transfer that are registered shall be retained by the Company. If the Directors refuse to register a transfer of any Shares, they shall within three calendar&#160;months after the date on which the transfer was lodged with the Company send notice of the refusal to each of the transferor and the transferee. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TRANSMISSION OF SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">48.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The legal personal representative of a deceased sole holder of a Share shall be the only Person recognized by the Company as having any title to the Share. In the case of a Share registered in the name of two or more holders, the survivors or survivor, or the legal personal representatives of the deceased survivor, shall be the only Person recognized by the Company as having any title to the Share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">49.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any Person becoming entitled to a Share in consequence of the death or bankruptcy of a Shareholder shall, upon such evidence being produced as may from time to time be required by the Directors, have the right either to be registered as a Shareholder in respect of the Share or, instead of being registered himself, to make such transfer of the Share as the deceased or bankrupt Person could have made; but the Directors shall, in either case, have the same right to decline or suspend registration as they would have had in the case of a transfer of the Share by the deceased or bankrupt Person before the death or bankruptcy. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">50.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Person becoming entitled to a Share by reason of the death or bankruptcy of a Shareholder shall be entitled to the same dividends and other advantages to which he would be entitled if he were the registered Shareholder, except that he shall not, before being registered as a Shareholder in respect of the Share, be entitled in respect of it to exercise any right conferred by membership in relation to meetings of the Company, provided however, that the Directors may at any time give notice requiring any such Person to elect either to be registered himself or to transfer the Share, and if the notice is not complied with within ninety calendar days, the Directors may thereafter withhold payment of all dividends, bonuses or other monies payable in respect of the Share until the requirements of the notice have been complied with. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">REGISTRATION OF EMPOWERING INSTRUMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">51.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company shall be entitled to charge a fee not exceeding one U.S. dollar (US$1.00) on the registration of every probate, letters of administration, certificate of death or marriage, power of attorney, notice in lieu of distringas, or other instrument. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-13</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ALTERATION OF SHARE CAPITAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">52.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may from time to time by Ordinary Resolution increase the share capital by such sum, to be divided into Shares of such Classes and amount, as the resolution shall prescribe. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">53.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may by Ordinary Resolution: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">increase its share capital by new Shares of such amount as it thinks expedient; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">consolidate and divide all or any of its share capital into Shares of a larger amount than its existing Shares; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">subdivide its Shares, or any of them, into Shares of an amount smaller than that fixed by the Memorandum, provided that in the subdivision the proportion between the amount paid and the amount, if any, unpaid on each reduced Share shall be the same as it was in case of the Share from which the reduced Share is derived; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">cancel any Shares that, at the date of the passing of the resolution, have not been taken or agreed to be taken by any Person and diminish the amount of its share capital by the amount of the Shares so cancelled. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">54.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may by Special Resolution reduce its share capital and any capital redemption reserve in any manner authorized by law. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">REDEMPTION, PURCHASE AND SURRENDER OF SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">55.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the provisions of the Companies Act and these Articles, the Company may: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">issue Shares that are to be redeemed or are liable to be redeemed at the option of the Shareholder or the Company. The redemption of Shares shall be effected in such manner and upon such terms as may be determined, before the issue of such Shares, by either the Board or by the Shareholders by Special Resolution; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">purchase its own Shares (including any redeemable Shares) on such terms and in such manner and terms as have been approved by the Board or by the Members by Ordinary Resolution, or are otherwise authorized by these Articles; and </font>
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          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">make a payment in respect of the redemption or purchase of its own Shares in any manner permitted by the Companies Act, including out of capital. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">56.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The purchase of any Share shall not oblige the Company to purchase any other Share other than as may be required pursuant to applicable law and any other contractual obligations of the Company. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">57.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The holder of the Shares being purchased shall be bound to deliver up to the Company the certificate(s) (if any) thereof for cancellation and thereupon the Company shall pay to him the purchase or redemption monies or consideration in respect thereof. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">58.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may accept the surrender for no consideration of any fully paid Share. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TREASURY SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">59.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may, prior to the purchase, redemption or surrender of any Share, determine that such Share shall be held as a Treasury Share. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">60.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms as they think proper (including, without limitation, for nil consideration). </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">GENERAL MEETINGS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">61.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">All general meetings other than annual general meetings shall be called extraordinary general meetings. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-14</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="border-collapse:collapse;width:456pt;margin-top:8pt;margin-left:0pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="vertical-align:top;">
            <td style="width:24.1pt;padding:0pt;">
              <font style="letter-spacing:0.2pt;">62.</font>
              <br >
            </td>
            <td style="width:24.1pt;padding:0pt;">
              <font style="letter-spacing:0.2pt;">(a)</font>
              <br >
            </td>
            <td>
              <font style="letter-spacing:0.2pt;">The Company may (but shall not be obliged to) in each calendar year hold a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it. The annual general meeting shall be held at such time and place as may be determined by the Directors. </font>
            </td>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">At these meetings the report of the Directors (if any) shall be presented. </font>
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          <tr style="vertical-align:top;">
            <td style="width:24.1pt;padding:0pt;">
              <font style="letter-spacing:0.2pt;">63.</font>
              <br >
            </td>
            <td style="width:24.1pt;padding:0pt;">
              <font style="letter-spacing:0.2pt;">(a)</font>
              <br >
            </td>
            <td>
              <font style="letter-spacing:0.2pt;">The Chairman or a majority of the Directors may call general meetings, and they shall on a Shareholders&#8217; requisition forthwith proceed to convene an extraordinary general meeting of the Company. </font>
            </td>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">A Shareholders&#8217; requisition is a requisition of Members holding at the date of deposit of the requisition Shares which carry in aggregate not less than one-third (1/3) of all votes attaching to all issued and outstanding Shares of the Company that as at the date of the deposit carry the right to vote at general meetings of the Company. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">The requisition must state the objects of the meeting and must be signed by the requisition&#8217;s and deposited at the Registered Office, and may consist of several documents in like form each signed by one or more requisition&#8217;s. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">If there are no Directors as at the date of the deposit of the Shareholders&#8217; requisition, or if the Directors do not within twenty-one calendar days from the date of the deposit of the requisition duly proceed to convene a general meeting to be held within a further twenty-one calendar days, the requisition&#8217;s, may themselves convene a general meeting, but any meeting so convened shall not be held after the expiration of three calendar&#160;months after the expiration of the said twenty-one calendar days. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">(e)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">A general meeting convened as aforesaid by requisition&#8217;s shall be convened in the same manner as nearly as possible as that in which general meetings are to be convened by Directors. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTICE OF GENERAL MEETINGS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">64.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">At least ten (10) calendar days&#8217; notice shall be given for any general meeting. Every notice shall be exclusive of the day on which it is given or deemed to be given and of the day for which it is given and shall specify the place (except in the case of a Virtual Meeting), the day and the hour of the meeting and the general nature of the business and shall be given in the manner hereinafter mentioned or in such other manner if any as may be prescribed by the Company, provided that a general meeting of the Company shall, whether or not the notice specified in this Article has been given and whether or not the provisions of these Articles regarding general meetings have been complied with, be deemed to have been duly convened if it is so agreed: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">in the case of an annual general meeting, by all the Shareholders (or their proxies) entitled to attend and vote thereat; and </font>
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          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">in the case of an extraordinary general meeting, by two-thirds (2/3rd) of the Shareholders having a right to attend and vote at the meeting, Present at the meeting. </font>
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          <font style="letter-spacing:0.2pt;">65.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The accidental omission to give notice of a meeting to or the non-receipt of a notice of a meeting by any Shareholder shall not invalidate the proceedings at any meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PROCEEDINGS AT GENERAL MEETINGS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">66.</font>
          <br >
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        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">No business except for the appointment of a chairman for the meeting shall be transacted at any general meeting unless a quorum of Shareholders is Present at the time when the meeting proceeds to business. One or more Shareholders holding Shares which carry in aggregate (or representing by proxy) not less than fifty&#160;percent (50%) of all votes attaching to all Shares in issue and entitled to vote at such general meeting, Present at the meeting, shall be a quorum for all purposes. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">67.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If within half an hour from the time appointed for the meeting a quorum is not Present, the meeting shall be dissolved. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-15</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">68.</font>
          <br >
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        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If the Directors so determine in respect of a specific general meeting or all general meetings of the Company, Presence at the relevant general meeting may be by means of Communications Facilities. The Directors may determine that any general meeting may be held as a Virtual Meeting. The notice of any general meeting at which Communications Facilities may be utilized (including any Virtual Meeting) must disclose the Communications Facilities that will be used, including the procedures to be followed by any Shareholder or other participant of the general meeting utilizing such Communications Facilities. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">69.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Chairman, if any, shall preside as chairman at every general meeting of the Company. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">70.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If there is no such Chairman, or if at any general meeting he is not Present within fifteen minutes after the time appointed for holding the meeting or is unwilling to act as chairman of the meeting, any Director or Person nominated by the Directors shall preside as chairman of that meeting, failing which the Shareholders Present shall choose any Person Present to be chairman of that meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">71.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The chairman of any general meeting shall be entitled to participate at any such general meeting by Communication Facilities, and to act as the chairman of such general meeting, in which event the following provisions shall apply: </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the chairman shall be deemed to be Present at the general meeting; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">if the Communication Facilities fail to enable the chairman of the general meeting to hear and be heard by other Persons participating in the meeting, then the other Directors Present at the general meeting shall choose another Director Present to act as chairman of the general meeting for (or for the remainder of) the general meeting; provided that if no other Director is Present at the general meeting, or if all the Directors Present decline to take the chair, then the general meeting shall be automatically adjourned to the same day in the next week and at such time and place as shall be decided by the Directors. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">72.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The chairman of any general meeting at which a quorum is Present may with the consent of the meeting (and shall if so directed by the meeting) adjourn the meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a meeting, or adjourned meeting, is adjourned for fourteen calendar days or more, notice of the adjourned meeting shall be given as in the case of an original meeting. Save as aforesaid it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">73.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may cancel or postpone any duly convened general meeting at any time prior to such meeting, except for general meetings requisitioned by the Shareholders in accordance with these Articles, for any reason or for no reason, upon notice in writing to Shareholders. A postponement may be for a stated period of any length or indefinitely as the Directors may determine. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">74.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">At any general meeting a resolution put to the vote of the meeting shall be decided on a show of hands, unless a poll is (before or on the declaration of the result of the show of hands) demanded by the chairman of the meeting or any Shareholder holding not less than ten per cent (10%) of the votes attaching to the Shares Present at the meeting, and unless a poll is so demanded, a declaration by the chairman of the meeting that a resolution has, on a show of hands, been carried, or carried unanimously, or by a particular majority, or lost, and an entry to that effect in the book of the proceedings of the Company, shall be conclusive evidence of the fact, without proof of the number or proportion of the votes recorded in favour of, or against, that resolution. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">75.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If a poll is duly demanded it shall be taken in such manner as the chairman of the meeting directs, and the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">76.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">All questions submitted to a meeting shall be decided by an Ordinary Resolution except where a greater majority is required by these Articles or by the Companies Act. In the case of an equality of votes, whether on a show of hands or on a poll, the chairman of the meeting at which the show of hands takes place or at which the poll is demanded, shall be entitled to a second or casting vote. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-16</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">77.</font>
          <br >
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        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A poll demanded on the election of a chairman of the meeting or on a question of adjournment shall be taken forthwith. A poll demanded on any other question shall be taken at such time as the chairman of the meeting directs. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VOTES OF SHAREHOLDERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">78.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to any rights and restrictions for the time being attached to any Share, at a general meeting of the Company, (i)&#160;on a show of hands and/or (ii)&#160;on a poll, every Shareholder Present at the meeting shall have one (1)&#160;vote for each Class&#160;A Ordinary Share and ten (10) votes for each Class&#160;V Ordinary Share of which such Shareholder is the holder, as provided in Article&#160;12. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">79.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">In the case of joint holders the vote of the senior who tenders a vote whether in person or by proxy (or, if a corporation or other non-natural person, by its duly authorized representative or proxy) shall be accepted to the exclusion of the votes of the other joint holders and for this purpose seniority shall be determined by the order in which the names stand in the Register. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">80.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Shares carrying the right to vote that are held by a Shareholder of unsound mind, or in respect of whom an order has been made by any court having jurisdiction in lunacy, may be voted, whether on a show of hands or on a poll, by his committee, or other Person in the nature of a committee appointed by that court, and any such committee or other Person may vote in respect of such Shares by proxy. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">81.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">No Shareholder shall be entitled to vote at any general meeting of the Company unless all calls, if any, or other sums presently payable by him in respect of Shares carrying the right to vote held by him have been paid. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">82.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">On a poll votes may be given either personally or by proxy. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">83.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Each Shareholder, other than a recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)), may only appoint one proxy on a show of hand. The instrument appointing a proxy shall be in writing under the hand of the appointor or of his attorney duly authorized in writing or, if the appointor is a corporation, either under Seal or under the hand of an officer or attorney duly authorized. A proxy need not be a Shareholder. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">84.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">An instrument appointing a proxy may be in any usual or common form or such other form as the Directors may approve. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">85.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The instrument appointing a proxy shall be deposited at the Registered Office or at such other place as is specified for that purpose in the notice convening the meeting, or in any instrument of proxy sent out by the Company: </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">not less than 48 hours before the time for holding the meeting or adjourned meeting at which the person named in the instrument proposes to vote; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">in the case of a poll taken more than 48 hours after it is demanded, be deposited as aforesaid after the poll has been demanded and not less than 24 hours before the time appointed for the taking of the poll; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">where the poll is not taken forthwith but is taken not more than 48 hours after it was demanded be delivered at the meeting at which the poll was demanded to the chairman of the meeting or to the secretary or to any Director; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:25pt; margin-top:8pt; text-align:justify; width:431pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">provided that the Directors may in the notice convening the meeting, or in an instrument of proxy sent out by the Company, direct that the instrument appointing a proxy may be deposited at such other time (no later than the time for holding the meeting or adjourned meeting) at the Registered Office or at such other place as is specified for that purpose in the notice convening the meeting, or in any instrument of proxy sent out by the Company. The chairman of the meeting may in any event at his discretion direct that an instrument of proxy shall be deemed to have been duly deposited. An instrument of proxy that is not deposited in the manner permitted shall be invalid. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-17</font>
          <br >
        </div>
      </div>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">86.</font>
          <br >
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        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding a poll. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">87.</font>
          <br >
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A resolution in writing signed by all the Shareholders for the time being entitled to receive notice of and to attend and vote at general meetings of the Company (or being corporations by their duly authorized representatives) shall be as valid and effective as if the same had been passed at a general meeting of the Company duly convened and held. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CORPORATIONS ACTING BY REPRESENTATIVES AT MEETINGS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">88.</font>
          <br >
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any corporation which is a Shareholder or a Director may by resolution of its directors or other governing body authorize such Person as it thinks fit to act as its representative at any meeting of the Company or of any meeting of holders of a Class or of the Directors or of a committee of Directors, and the Person so authorized shall be entitled to exercise the same powers on behalf of the corporation which he represents as that corporation could exercise if it were an individual Shareholder or Director. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DEPOSITARY AND CLEARING HOUSES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">89.</font>
          <br >
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If a recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) is a Member of the Company it may, by resolution of its directors or other governing body or by power of attorney, authorize such Person(s) as it thinks fit to act as its representative(s) at any general meeting of the Company or of any Class of Shareholders provided that, if more than one Person is so authorized, the authorization shall specify the number and Class of Shares in respect of which each such Person is so authorized. A Person so authorized pursuant to this Article shall be entitled to exercise the same powers on behalf of the recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) which he represents as that recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) could exercise if it were an individual Member holding the number and Class of Shares specified in such authorization, including the right to vote individually on a show of hands. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DIRECTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">90.</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise determined by the Company in general meeting, the number of Directors shall be no less than three (3)&#160;and no more than twelve (12). The Directors shall be appointed and removed as follows: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">90.1</font>
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">The Company may by Ordinary Resolution appoint any person to be a Director. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">90.2</font>
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">The Board may, by the affirmative vote of a simple majority of the Directors present and voting at a Board meeting, appoint any person as a Director, to fill a casual vacancy on the Board or as an addition to the existing Board. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">90.3</font>
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">An appointment of a Director may be on terms that the Director shall automatically retire from office (unless he has sooner vacated office) at the next or a subsequent annual general meeting or upon any specified event or after any specified period in a written agreement between the Company and the Director, if any; but no such term shall be implied in the absence of express provision. Each Director whose term of office expires shall be eligible for re-election at a meeting of the Shareholders or re-appointment by the Board. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">90.4</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">A Director may be removed from office by Ordinary Resolution, notwithstanding anything in these Articles or in any agreement between the Company and such Director (but without prejudice to any claim for damages under such agreement). A vacancy on the Board created by the removal of a Director under the previous sentence may be filled by Ordinary Resolution or by the affirmative vote of a simple majority of the remaining Directors present and voting at a Board meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">91.</font>
          <br >
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Board of Directors may elect and appoint a Chairman by a majority of the Directors then in office. The period for which the Chairman will hold office will also be determined by a majority of all of the Directors then in office. The Chairman shall preside as chairman at every meeting of the Board of Directors. To the extent the Chairman is not present at a meeting of the Board of Directors within </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-18</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:24pt; text-align:justify; width:432pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">fifteen minutes after the time appointed for holding the same, the attending Directors may choose one of their number to be the chairman of the meeting. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">92.</font>
          <br >
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        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Board may, from time to time, and except as required by applicable law or Designated Stock Exchange Rules, adopt, institute, amend, modify or revoke the corporate governance policies or initiatives of the Company and determine on various corporate governance related matters of the Company as the Board shall determine by resolution of Directors from time to time. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">93.</font>
          <br >
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        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Director shall not be required to hold any Shares in the Company by way of qualification. A Director who is not a Member of the Company shall nevertheless be entitled to attend and speak at general meetings. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.71pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">94.</font>
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        <div style=" margin-top:7.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The remuneration of the Directors may be determined by the Directors or by Ordinary Resolution. </font>
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          <font style="letter-spacing:0.2pt;">95.</font>
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        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors shall be entitled to be paid their travelling, hotel and other expenses properly incurred by them in going to, attending and returning from meetings of the Directors, or any committee of the Directors, or general meetings of the Company, or otherwise in connection with the business of the Company, or to receive such fixed allowance in respect thereof as may be determined by the Directors from time to time, or a combination partly of one such method and partly the other. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ALTERNATE DIRECTOR OR PROXY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">96.</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any Director may in writing appoint another Person to be his alternate and, save to the extent provided otherwise in the form of appointment, such alternate shall have authority to sign written resolutions on behalf of the appointing Director, but shall not be required to sign such written resolutions where they have been signed by the appointing director, and to act in such Director&#8217;s place at any meeting of the Directors at which the appointing Director is unable to be present. Every such alternate shall be entitled to attend and vote at meetings of the Directors as a Director when the Director appointing him is not personally present and where he is a Director to have a separate vote on behalf of the Director he is representing in addition to his own vote. A Director may at any time in writing revoke the appointment of an alternate appointed by him. Such alternate shall be deemed for all purposes to be a Director and shall not be deemed to be the agent of the Director appointing him. The remuneration of such alternate shall be payable out of the remuneration of the Director appointing him and the proportion thereof shall be agreed between them. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">97.</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any Director may appoint any Person, whether or not a Director, to be the proxy of that Director to attend and vote on his behalf, in accordance with instructions given by that Director, or in the absence of such instructions at the discretion of the proxy, at a meeting or meetings of the Directors which that Director is unable to attend personally. The instrument appointing the proxy shall be in writing under the hand of the appointing Director and shall be in any usual or common form or such other form as the Directors may approve, and must be lodged with the chairman of the meeting of the Directors at which such proxy is to be used, or first used, prior to the commencement of the meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">POWERS AND DUTIES OF DIRECTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">98.</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the Companies Act, these Articles and to any resolutions passed in a general meeting, the business of the Company shall be managed by the Directors, who may pay all expenses incurred in setting up and registering the Company and may exercise all powers of the Company. No resolution passed by the Company in general meeting shall invalidate any prior act of the Directors that would have been valid if that resolution had not been passed. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">99.</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to these Articles, the Directors may from time to time appoint any natural person or corporation, whether or not a Director to hold such office in the Company as the Directors may think necessary for the administration of the Company, including but not limited to, chief executive officer, one or more other executive officers, president, one or more vice presidents, treasurer, assistant treasurer, manager or controller, and for such term and at such remuneration (whether by way of salary or commission or participation in profits or partly in one way and partly in another), and with such powers and duties as the Directors may think fit. Any natural person or corporation so appointed by the Directors may be removed by the Directors. The Directors may also appoint one or more of their number to the office of </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-19</font>
          <br >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-bottom:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:24pt; text-align:justify; width:432pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">managing director upon like terms, but any such appointment shall ipso facto terminate if any managing director ceases for any cause to be a Director, or if the Company by Ordinary Resolution resolves that his tenure of office be terminated. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">100.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may appoint any natural person or corporation to be a Secretary (and if need be an assistant Secretary or assistant Secretaries) who shall hold office for such term, at such remuneration and upon such conditions and with such powers as they think fit. Any Secretary or assistant Secretary so appointed by the Directors may be removed by the Directors or by the Company by Ordinary Resolution. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">101.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may delegate any of their powers to committees consisting of such member or members of their body as they think fit; any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the Directors. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">102.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may from time to time and at any time by power of attorney (whether under Seal or under hand) or otherwise appoint any company, firm or Person or body of Persons, whether nominated directly or indirectly by the Directors, to be the attorney or attorneys or authorized signatory (any such person being an &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Attorney</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Authorized Signatory</font><font style="letter-spacing:0.2pt;">&#8221;, respectively) of the Company for such purposes and with such powers, authorities and discretion (not exceeding those vested in or exercisable by the Directors under these Articles) and for such period and subject to such conditions as they may think fit, and any such power of attorney or other appointment may contain such provisions for the protection and convenience of Persons dealing with any such Attorney or Authorized Signatory as the Directors may think fit, and may also authorize any such Attorney or Authorized Signatory to delegate all or any of the powers, authorities and discretion vested in him. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">103.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may from time to time provide for the management of the affairs of the Company in such manner as they shall think fit and the provisions contained in the three next following Articles shall not limit the general powers conferred by this Article. </font>
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          <font style="letter-spacing:0.2pt;">104.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors from time to time and at any time may establish any committees, local boards or agencies for managing any of the affairs of the Company and may appoint any natural person or corporation to be a member of such committees or local boards and may appoint any managers or agents of the Company and may fix the remuneration of any such natural person or corporation. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">105.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors from time to time and at any time may delegate to any such committee, local board, manager or agent any of the powers, authorities and discretions for the time being vested in the Directors and may authorize the members for the time being of any such local board, or any of them to fill any vacancies therein and to act notwithstanding vacancies and any such appointment or delegation may be made on such terms and subject to such conditions as the Directors may think fit and the Directors may at any time remove any natural person or corporation so appointed and may annul or vary any such delegation, but no Person dealing in good faith and without notice of any such annulment or variation shall be affected thereby. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">106.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any such delegates as aforesaid may be authorized by the Directors to sub-delegate all or any of the powers, authorities, and discretion for the time being vested in them. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BORROWING POWERS OF DIRECTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">107.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may from time to time at their discretion exercise all the powers of the Company to raise or borrow money and to mortgage or charge its undertaking, property and assets (present and future) and uncalled capital or any part thereof, to issue debentures, debenture stock, bonds and other securities, whether outright or as collateral security for any debt, liability or obligation of the Company or of any third party. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-20</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE SEAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">108.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Seal shall not be affixed to any instrument except by the authority of a resolution of the Directors provided always that such authority may be given prior to or after the affixing of the Seal and if given after may be in general form confirming a number of affixing of the Seal. The Seal shall be affixed in the presence of a Director or a Secretary (or an assistant Secretary) or in the presence of any one or more Persons as the Directors may appoint for the purpose and every Person as aforesaid shall sign every instrument to which the Seal is so affixed in their presence. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">109.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may maintain a facsimile of the Seal in such countries or places as the Directors may appoint and such facsimile Seal shall not be affixed to any instrument except by the authority of a resolution of the Directors provided always that such authority may be given prior to or after the affixing of such facsimile Seal and if given after may be in general form confirming a number of affixing of such facsimile Seal. The facsimile Seal shall be affixed in the presence of such Person or Persons as the Directors shall for this purpose appoint and such Person or Persons as aforesaid shall sign every instrument to which the facsimile Seal is so affixed in their presence and such affixing of the facsimile Seal and signing as aforesaid shall have the same meaning and effect as if the Seal had been affixed in the presence of and the instrument signed by a Director or a Secretary (or an assistant Secretary) or in the presence of any one or more Persons as the Directors may appoint for the purpose. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">110.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding the foregoing, a Secretary or any assistant Secretary shall have the authority to affix the Seal, or the facsimile Seal, to any instrument for the purposes of attesting authenticity of the matter contained therein but which does not create any obligation binding on the Company. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DISQUALIFICATION OF DIRECTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">111.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The office of Director shall be vacated, if the Director: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
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          <font style="letter-spacing:0.2pt;">becomes bankrupt or makes any arrangement or composition with his creditors; </font>
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          <font style="letter-spacing:0.2pt;">(b)</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">dies or is found to be or becomes of unsound mind; </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">resigns his office by notice in writing to the Company; </font>
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          <font style="letter-spacing:0.2pt;">(d)</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">without special leave of absence from the Board, is absent from meetings of the Board for three consecutive meetings and the Board resolves that his office be vacated; or </font>
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          <font style="letter-spacing:0.2pt;">(e)</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">is removed from office pursuant to any other provision of these Articles. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PROCEEDINGS OF DIRECTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">112.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may meet together (either within or outside of the Cayman Islands) for the despatch of business, adjourn, and otherwise regulate their meetings and proceedings as they think fit. Questions arising at any meeting shall be decided by a majority of votes. At any meeting of the Directors, each Director present in person or represented by his proxy or alternate shall be entitled to one vote. In case of an equality of votes the Chairman shall have a second or casting vote. A Director may, and a Secretary or assistant Secretary on the requisition of a Director shall, at any time summon a meeting of the Directors. </font>
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          <font style="letter-spacing:0.2pt;">113.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Director may participate in any meeting of the Directors, or of any committee appointed by the Directors of which such Director is a member, by means of telephone or similar communication equipment by way of which all Persons participating in such meeting can communicate with each other and such participation shall be deemed to constitute presence in person at the meeting. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">114.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The quorum necessary for the transaction of the business of the Board may be fixed by the Directors, and unless so fixed, the quorum shall be a majority of Directors then in office. A Director represented by proxy or by an alternate Director at any meeting shall be deemed to be present for the purposes of determining whether or not a quorum is present. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-21</font>
          <br >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">115.</font>
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        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Director who is in any way, whether directly or indirectly, interested in a contract or transaction or proposed contract or transaction with the Company shall declare the nature of his interest at a meeting of the Directors. A general notice given to the Directors by any Director to the effect that he is a member of any specified company or firm and is to be regarded as interested in any contract or transaction which may thereafter be made with that company or firm shall be deemed a sufficient declaration of interest in regard to any contract so made or transaction so consummated. A Director may vote in respect of any contract or transaction or proposed contract or transaction notwithstanding that he may be interested therein and if he does so his vote shall be counted and he may be counted in the quorum at any meeting of the Directors at which any such contract or transaction or proposed contract or transaction shall come before the meeting for consideration. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">116.</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Director may hold any other office or place of profit under the Company (other than the office of auditor) in conjunction with his office of Director for such period and on such terms (as to remuneration and otherwise) as the Directors may determine and no Director or intending Director shall be disqualified by his office from contracting with the Company either with regard to his tenure of any such other office or place of profit or as vendor, purchaser or otherwise, nor shall any such contract or arrangement entered into by or on behalf of the Company in which any Director is in any way interested be liable to be avoided, nor shall any Director so contracting or being so interested be liable to account to the Company for any profit realised by any such contract or arrangement by reason of such Director holding that office or of the fiduciary relation thereby established. A Director, notwithstanding his interest, may be counted in the quorum present at any meeting of the Directors whereat he or any other Director is appointed to hold any such office or place of profit under the Company or whereat the terms of any such appointment are arranged and he may vote on any such appointment or arrangement. </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">117.</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any Director may act by himself or through his firm in a professional capacity for the Company, and he or his firm shall be entitled to remuneration for professional services as if he were not a Director; provided that nothing herein contained shall authorize a Director or his firm to act as auditor to the Company. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">118.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors shall cause minutes to be made for the purpose of recording: </font>
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        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">all appointments of officers made by the Directors; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">the names of the Directors present at each meeting of the Directors and of any committee of the Directors; and </font>
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          <font style="letter-spacing:0.2pt;">(c)</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">all resolutions and proceedings at all meetings of the Company, and of the Directors and of committees of Directors. </font>
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          <font style="letter-spacing:0.2pt;">119.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">When the chairman of a meeting of the Directors signs the minutes of such meeting the same shall be deemed to have been duly held notwithstanding that all the Directors have not actually come together or that there may have been a technical defect in the proceedings. </font>
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          <font style="letter-spacing:0.2pt;">120.</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A resolution in writing signed by all the Directors or all the members of a committee of Directors entitled to receive notice of a meeting of Directors or committee of Directors, as the case may be (an alternate Director, subject as provided otherwise in the terms of appointment of the alternate Director, being entitled to sign such a resolution on behalf of his appointer), shall be as valid and effectual as if it had been passed at a duly called and constituted meeting of Directors or committee of Directors, as the case may be. When signed a resolution may consist of several documents each signed by one or more of the Directors or his duly appointed alternate. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">121.</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The continuing Directors may act notwithstanding any vacancy in their body but if and for so long as their number is reduced below the number fixed by or pursuant to these Articles as the necessary quorum of Directors, the continuing Directors may act for the purpose of increasing the number, or of summoning a general meeting of the Company, but for no other purpose. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">122.</font>
          <br >
        </div>
        <div style=" margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to any regulations imposed on it by the Directors, a committee appointed by the Directors may elect a chairman of its meetings. If no such chairman is elected, or if at any meeting the chairman is not present within fifteen minutes after the time appointed for holding the meeting, the committee members present may choose one of their number to be chairman of the meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-22</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">123.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A committee appointed by the Directors may meet and adjourn as it thinks proper. Subject to any regulations imposed on it by the Directors, questions arising at any meeting shall be determined by a majority of votes of the committee members present and in case of an equality of votes the chairman shall have a second or casting vote. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">124.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">All acts done by any meeting of the Directors or of a committee of Directors, or by any Person acting as a Director, shall notwithstanding that it be afterwards discovered that there was some defect in the appointment of any such Director or Person acting as aforesaid, or that they or any of them were disqualified, be as valid as if every such Person had been duly appointed and was qualified to be a Director. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PRESUMPTION OF ASSENT</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">125.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">A Director who is present at a meeting of the Board of Directors at which an action on any Company matter is taken shall be presumed to have assented to the action taken unless his dissent shall be entered in the minutes of the meeting or unless he shall file his written dissent from such action with the person acting as the chairman or secretary of the meeting before the adjournment thereof or shall forward such dissent by registered post to such person immediately after the adjournment of the meeting. Such right to dissent shall not apply to a Director who voted in favor of such action. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DIVIDENDS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">126.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to any rights and restrictions for the time being attached to any Shares, the Directors may from time to time declare dividends (including interim dividends) and other distributions on Shares in issue and authorize payment of the same out of the funds of the Company lawfully available therefor. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">127.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to any rights and restrictions for the time being attached to any Shares, the Company by Ordinary Resolution may declare dividends, but no dividend shall exceed the amount recommended by the Directors. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">128.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may, before recommending or declaring any dividend, set aside out of the funds legally available for distribution such sums as they think proper as a reserve or reserves which shall, in the absolute discretion of the Directors, be applicable for meeting contingencies or for equalizing dividends or for any other purpose to which those funds may be properly applied, and pending such application may in the absolute discretion of the Directors, either be employed in the business of the Company or be invested in such investments (other than Shares of the Company) as the Directors may from time to time think fit. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">129.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any dividend payable in cash to the holder of Shares may be paid in any manner determined by the Directors. If paid by cheque it will be sent by mail addressed to the holder at his address in the Register, or addressed to such person and at such addresses as the holder may direct. Every such cheque or warrant shall, unless the holder or joint holders otherwise direct, be made payable to the order of the holder or, in the case of joint holders, to the order of the holder whose name stands first on the Register in respect of such Shares, and shall be sent at his or their risk and payment of the cheque or warrant by the bank on which it is drawn shall constitute a good discharge to the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">130.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may determine that a dividend shall be paid wholly or partly by the distribution of specific assets (which may consist of the shares or securities of any other company) and may settle all questions concerning such distribution. Without limiting the generality of the foregoing, the Directors may fix the value of such specific assets, may determine that cash payment shall be made to some Shareholders in lieu of specific assets and may vest any such specific assets in trustees on such terms as the Directors think fit. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">131.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to any rights and restrictions for the time being attached to any Shares, all dividends shall be declared and paid according to the amounts paid up on the Shares, but if and for so long as nothing is paid up on any of the Shares dividends may be declared and paid according to the par value of the Shares. No amount paid on a Share in advance of calls shall, while carrying interest, be treated for the purposes of this Article as paid on the Share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-23</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:4pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; line-height:12pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">132.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If several Persons are registered as joint holders of any Share, any of them may give effective receipts for any dividend or other moneys payable on or in respect of the Share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">133.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">No dividend shall bear interest against the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">134.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any dividend unclaimed after a period of six calendar&#160;years from the date of declaration of such dividend may be forfeited by the Board of Directors and, if so forfeited, shall revert to the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ACCOUNTS, AUDIT AND ANNUAL RETURN AND DECLARATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">135.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The books of account relating to the Company&#8217;s affairs shall be kept in such manner as may be determined from time to time by the Directors. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">136.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The books of account shall be kept at the Registered Office, or at such other place or places as the Directors think fit, and shall always be open to the inspection of the Directors. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">137.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may from time to time determine whether and to what extent and at what times and places and under what conditions or regulations the accounts and books of the Company or any of them shall be open to the inspection of Shareholders not being Directors, and no Shareholder (not being a Director) shall have any right to inspect any account or book or document of the Company except as conferred by law or authorized by the Directors or by Ordinary Resolution. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">138.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The accounts relating to the Company&#8217;s affairs shall be audited in such manner and with such financial year end as may be determined from time to time by the Directors or failing any determination as aforesaid shall not be audited. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">139.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors may appoint an auditor of the Company who shall hold office until removed from office by a resolution of the Directors and may fix his or their remuneration. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">140.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Every auditor of the Company shall have a right of access at all times to the books and accounts and vouchers of the Company and shall be entitled to require from the Directors and officers of the Company such information and explanation as may be necessary for the performance of the duties of the auditors. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">141.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The auditors shall, if so required by the Directors, make a report on the accounts of the Company during their tenure of office at the next annual general meeting following their appointment, and at any time during their term of office, upon request of the Directors or any general meeting of the Members. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">142.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors in each calendar year shall prepare, or cause to be prepared, an annual return and declaration setting forth the particulars required by the Companies Act and deliver a copy thereof to the Registrar of Companies in the Cayman Islands. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CAPITALISATION OF RESERVES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">143.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the Companies Act, the Directors may: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">resolve to capitalize an amount standing to the credit of reserves (including a Share Premium Account, capital redemption reserve and profit and loss account), which is available for distribution; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">appropriate the sum resolved to be capitalized to the Shareholders in proportion to the nominal amount of Shares (whether or not fully paid) held by them respectively and apply that sum on their behalf in or towards: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">paying up the amounts (if any) for the time being unpaid on Shares held by them respectively, or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">paying up in full unissued Shares or debentures of a nominal amount equal to that sum, </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-24</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:4pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:25pt; text-align:justify; width:431pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">and allot the Shares or debentures, credited as fully paid, to the Shareholders (or as they may direct) in those proportions, or partly in one way and partly in the other, but the Share Premium Account, the capital redemption reserve and profits which are not available for distribution may, for the purposes of this Article, only be applied in paying up unissued Shares to be allotted to Shareholders credited as fully paid; </font>
        </div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">make any arrangements they think fit to resolve a difficulty arising in the distribution of a capitalized reserve and in particular, without limitation, where Shares or debentures become distributable in fractions the Directors may deal with the fractions as they think fit; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">authorize a Person to enter (on behalf of all the Shareholders concerned) into an agreement with the Company providing for either: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">the allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures to which they may be entitled on the capitalization, or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:50pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:74pt;">
          <font style="letter-spacing:0.2pt;">the payment by the Company on behalf of the Shareholders (by the application of their respective proportions of the reserves resolved to be capitalized) of the amounts or part of the amounts remaining unpaid on their existing Shares, </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:25pt; margin-top:8pt; text-align:justify; width:431pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">and any such agreement made under this authority being effective and binding on all those Shareholders; and </font>
        </div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(e)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">generally do all acts and things required to give effect to the resolution. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">144.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding any provisions in these Articles, the Directors may resolve to capitalize an amount standing to the credit of reserves (including the share premium account, capital redemption reserve and profit and loss account) or otherwise available for distribution by applying such sum in paying up in full unissued Shares to be allotted and issued to: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">employees (including Directors) or service providers of the Company or its subsidiaries or group companies upon exercise or vesting of any options or awards granted under any share incentive scheme or employee benefit scheme or other arrangement which relates to such persons that has been adopted or approved by the Directors or the Members; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">any trustee of any trust or administrator of any share incentive scheme or employee benefit scheme to whom shares are to be allotted and issued by the Company in connection with the operation of any share incentive scheme or employee benefit scheme or other arrangement which relates to such persons that has been adopted or approved by the Directors or Members; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">any depositary of the Company for the purposes of the issue, allotment and delivery by the depositary of ADSs to employees (including Directors) or service providers of the Company or its subsidiaries or group companies upon exercise or vesting of any options or awards granted under any share incentive scheme or employee benefit scheme or other arrangement which relates to such persons that has been adopted or approved by the Directors or the Members. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">SHARE PREMIUM ACCOUNT</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">145.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors shall in accordance with the Companies Act establish a Share Premium Account and shall carry to the credit of such account from time to time a sum equal to the amount or value of the premium paid on the issue of any Share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">146.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">There shall be debited to any Share Premium Account on the redemption or purchase of a Share the difference between the nominal value of such Share and the redemption or purchase price provided always that at the discretion of the Directors such sum may be paid out of the profits of the Company or, if permitted by the Companies Act, out of capital. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-25</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:12pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTICES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">147.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Except as otherwise provided in these Articles, any notice or document may be served by the Company or by the Person entitled to give notice to any Shareholder either personally, or by posting it by airmail or a recognized courier service in a prepaid letter addressed to such Shareholder at his address as appearing in the Register, or by electronic mail to any electronic mail address such Shareholder may have specified in writing for the purpose of such service of notices, or by facsimile to any facsimile number such Shareholder may have specified in writing for the purpose of such service of notices, or by placing it on the Company&#8217;s Website should the Directors deem it appropriate. In the case of joint holders of a Share, all notices shall be given to that one of the joint holders whose name stands first in the Register in respect of the joint holding, and notice so given shall be sufficient notice to all the joint holders. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">148.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Notices sent from one country to another shall be sent or forwarded by prepaid airmail or a recognized courier service. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">149.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any Shareholder Present at any meeting of the Company shall for all purposes be deemed to have received due notice of such meeting and, where requisite, of the purposes for which such meeting was convened. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">150.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any notice or other document, if served by: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">post, shall be deemed to have been served five calendar days after the time when the letter containing the same is posted; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">facsimile, shall be deemed to have been served upon production by the transmitting facsimile machine of a report confirming transmission of the facsimile in full to the facsimile number of the recipient; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">recognized courier service, shall be deemed to have been served 48 hours after the time when the letter containing the same is delivered to the courier service; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">electronic means, shall be deemed to have been served immediately (i)&#160;upon the time of the transmission to the electronic mail address supplied by the Shareholder to the Company or (ii)&#160;upon the time of its placement on the Company&#8217;s Website. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:25pt; margin-top:8pt; text-align:justify; width:431pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In proving service by post or courier service it shall be sufficient to prove that the letter containing the notice or documents was properly addressed and duly posted or delivered to the courier service. </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">151.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any notice or document delivered or sent by post to or left at the registered address of any Shareholder in accordance with the terms of these Articles shall notwithstanding that such Shareholder be then dead or bankrupt, and whether or not the Company has notice of his death or bankruptcy, be deemed to have been duly served in respect of any Share registered in the name of such Shareholder as sole or joint holder, unless his name shall at the time of the service of the notice or document have been removed from the Register as the holder of the Share, and such service shall for all purposes be deemed a sufficient service of such notice or document on all Persons interested (whether jointly with or as claiming through or under him) in the Share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">152.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Notice of every general meeting of the Company shall be given to: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">all Shareholders holding Shares with the right to receive notice and who have supplied to the Company an address for the giving of notices to them; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">every Person entitled to a Share in consequence of the death or bankruptcy of a Shareholder, who but for his death or bankruptcy would be entitled to receive notice of the meeting. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:25pt; margin-top:8pt; text-align:justify; width:431pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">No other Person shall be entitled to receive notices of general meetings. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-26</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:40pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">153.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the relevant laws, rules and regulations applicable to the Company, no Member shall be entitled to require discovery of any information in respect of any detail of the Company&#8217;s trading or any information which is or may be in the nature of a trade secret or secret process which may relate to the conduct of the business of the Company and which in the opinion of the Board would not be in the interests of the Members of the Company to communicate to the public. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">154.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to due compliance with the relevant laws, rules and regulations applicable to the Company, the Board shall be entitled to release or disclose any information in its possession, custody or control regarding the Company or its affairs to any of its Members including, without limitation, information contained in the Register and transfer books of the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INDEMNITY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">155.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Every Director (including for the purposes of this Article any alternate Director appointed pursuant to the provisions of these Articles), Secretary, assistant Secretary, or other officer for the time being and from time to time of the Company (but not including the Company&#8217;s auditors) and the personal representatives of the same (each an &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Indemnified Person</font><font style="letter-spacing:0.2pt;">&#8221;) shall be indemnified and secured harmless against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by such Indemnified Person, other than by reason of such Indemnified Person&#8217;s own dishonesty, willful default or fraud, in or about the conduct of the Company&#8217;s business or affairs (including as a result of any mistake of judgment) or in the execution or discharge of his duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such Indemnified Person in defending (whether successfully or otherwise) any civil proceedings concerning the Company or its affairs in any court whether in the Cayman Islands or elsewhere. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">156.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">No Indemnified Person shall be liable: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(a)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">for the acts, receipts, neglects, defaults or omissions of any other Director or officer or agent of the Company; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(b)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">for any loss on account of defect of title to any property of the Company; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(c)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">on account of the insufficiency of any security in or upon which any money of the Company shall be invested; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(d)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">for any loss incurred through any bank, broker or other similar Person; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(e)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">for any loss occasioned by any negligence, default, breach of duty, breach of trust, error of judgement or oversight on such Indemnified Person&#8217;s part; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:25pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(f)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:49pt;">
          <font style="letter-spacing:0.2pt;">for any loss, damage or misfortune whatsoever which may happen in or arise from the execution or discharge of the duties, powers, authorities, or discretions of such Indemnified Person&#8217;s office or in relation thereto; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:25pt; margin-top:8pt; text-align:justify; width:431pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">unless the same shall happen through such Indemnified Person&#8217;s own dishonesty, willful default or fraud. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FINANCIAL YEAR</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">157.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Unless the Directors otherwise prescribe, the financial year of the Company shall end on December&#160;31st in each calendar year and shall begin on January&#160;1st in each calendar year. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-27</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NON-RECOGNITION OF TRUSTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">158.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">No Person shall be recognized by the Company as holding any Share upon any trust and the Company shall not, unless required by law, be bound by or be compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future or partial interest in any Share or (except only as otherwise provided by these Articles or as the Companies Act requires) any other right in respect of any Share except an absolute right to the entirety thereof in each Shareholder registered in the Register. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">WINDING UP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">159.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If the Company shall be wound up the liquidator may, with the sanction of a Special Resolution and any other sanction required by the Companies Act, divide amongst the Members in specie or in kind the whole or any part of the assets of the Company (whether they shall consist of property of the same kind or not) and may for that purpose value any assets and determine how the division shall be carried out as between the Members or different classes of Members. The liquidator may, with the like sanction, vest the whole or any part of such assets in trustees upon such trusts for the benefit of the Members as the liquidator, with the like sanction, shall think fit, but so that no Member shall be compelled to accept any asset upon which there is a liability. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">160.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If the Company shall be wound up, and the assets available for distribution amongst the Members shall be insufficient to repay the whole of the share capital, such assets shall be distributed so that, as nearly as may be, the losses shall be borne by the Members in proportion to the par value of the Shares held by them. If in a winding up the assets available for distribution amongst the Members shall be more than sufficient to repay the whole of the share capital at the commencement of the winding up, the surplus shall be distributed amongst the Members in proportion to the par value of the Shares held by them at the commencement of the winding up subject to a deduction from those Shares in respect of which there are monies due, of all monies payable to the Company for unpaid calls or otherwise. This Article is without prejudice to the rights of the holders of Shares issued upon special terms and conditions. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">AMENDMENT OF ARTICLES OF ASSOCIATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">161.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Subject to the Companies Act, the Company may at any time and from time to time by Special Resolution alter or amend these Articles in whole or in part. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CLOSING OF REGISTER OR FIXING RECORD DATE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">162.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">For the purpose of determining those Shareholders that are entitled to receive notice of, attend or vote at any meeting of Shareholders or any adjournment thereof, or those Shareholders that are entitled to receive payment of any dividend, or in order to make a determination as to who is a Shareholder for any other purpose, the Directors may provide that the Register shall be closed for transfers for a stated period which shall not exceed in any case thirty calendar days in any calendar year. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">163.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">In lieu of or apart from closing the Register, the Directors may fix in advance a date as the record date for any such determination of those Shareholders that are entitled to receive notice of, attend or vote at a meeting of the Shareholders and for the purpose of determining those Shareholders that are entitled to receive payment of any dividend the Directors may, at or within ninety calendar days prior to the date of declaration of such dividend, fix a subsequent date as the record date for such determination. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">164.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">If the Register is not so closed and no record date is fixed for the determination of those Shareholders entitled to receive notice of, attend or vote at a meeting of Shareholders or those Shareholders that are entitled to receive payment of a dividend, the date on which notice of the meeting is posted or the date on which the resolution of the Directors declaring such dividend is adopted, as the case may be, shall be the record date for such determination of Shareholders. When a determination of those Shareholders that are entitled to receive notice of, attend or vote at a meeting of Shareholders has been made as provided in this Article, such determination shall apply to any adjournment thereof. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">B-28</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:24pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">REGISTRATION BY WAY OF CONTINUATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">165.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Company may by Special Resolution resolve to be registered by way of continuation in a jurisdiction outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated, registered or existing. In furtherance of a resolution adopted pursuant to this Article, the Directors may cause an application to be made to the Registrar of Companies to deregister the Company in the Cayman Islands or such other jurisdiction in which it is for the time being incorporated, registered or existing and may cause all such further steps as they consider appropriate to be taken to effect the transfer by way of continuation of the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DISCLOSURE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">166.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">The Directors, or any service providers (including the officers, the Secretary and the registered office provider of the Company) specifically authorized by the Directors, shall be entitled to disclose to any regulatory or judicial authority any information regarding the affairs of the Company including without limitation information contained in the Register and books of the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXCLUSIVE FORUM</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">167.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Unless the Company consents in writing to the selection of an alternative forum, to the fullest extent permitted by relevant law, the federal district courts of the United States shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act, regardless of whether such legal suit, action, or proceeding also involves parties other than the Company. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">168.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Unless the Company consents in writing to the selection of an alternative forum, the courts of the Cayman Islands shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) whether arising out of or in connection with these Articles or otherwise, including any questions regarding their existence, validity, formation or termination. For the avoidance of doubt and without limiting the jurisdiction of the courts of the Cayman Islands to hear, settle and/or determine disputes related to the Company, the courts of the Cayman Islands shall be the sole and exclusive forum for (i)&#160;any derivative action or proceeding brought on behalf of the Company, (ii)&#160;any action asserting a claim of breach of a fiduciary duty owed by any Director, officer or other employee of the Company to the Company or the Company&#8217;s Shareholders, (iii)&#160;any action or petition asserting a claim arising pursuant to any provision of the Law or these Articles including but not limited to any purchase or acquisition of Shares, securities or guarantee provided in consideration thereof, or (iv)&#160;any action asserting a claim against the Company which if brought in the United States would be a claim arising under the internal affairs doctrine (as such concept is recognized under the laws of the United States from time to time). This Article&#160;165 shall not apply to claims or causes of action brought to enforce a duty or liability created by the Securities Act or the Securities Exchange Act of 1934, as amended, or any other claim based on securities laws for which claim the federal district courts of the United States have exclusive jurisdiction. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:24pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">169.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:24pt;">
          <font style="letter-spacing:0.2pt;">Any person or entity purchasing or otherwise acquiring any Share or other securities in the Company, or purchasing or otherwise acquiring ADSs issued pursuant to relevant deposit agreements, whether such acquisition be by transfer, sale, operation of law or otherwise, shall be deemed to have notice of, irrevocably agreed and consented to the provisions of this Article and Articles 166 and 167 above. Without prejudice to the foregoing, if any part of this Article, Article&#160;166 and/or Article&#160;167 are held to be illegal, invalid or unenforceable under applicable law, the legality, validity or enforceability of the rest of these Articles shall not be affected nor be impaired and this Article, Article&#160;166 and/or Article&#160;167 shall be interpreted and construed to the maximum extent possible to apply in the relevant jurisdiction with whatever modification or deletion as may be necessary so as best to give effect to the intention of the Company.</font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">B-29</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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        <div style="text-align:right; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Annex C</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES GROUP</font>
          <br >
          <font style="letter-spacing:-0.2pt;">2021 SHARE INCENTIVE PLAN</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE 1 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">PURPOSE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The purpose of this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">2021 SHARE INCENTIVE PLAN</font><font style="letter-spacing:0.2pt;"> is to promote the success and enhance the value of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Technologies Group</font><font style="letter-spacing:0.2pt;">, a business company formed under the laws of the Cayman Islands (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;), by linking the personal interests of the Directors, Employees, Consultants, and other Persons to those of the Company&#8217;s shareholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Company&#8217;s shareholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of the above individuals upon whose judgment, interest, and special effort the successful conduct of the Company&#8217;s operation is largely dependent. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE 2</font>
          <br >
          <font style="letter-spacing:-0.2pt;">DEFINITIONS AND CONSTRUCTION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun shall include the plural where the context so indicates. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Applicable Laws</font><font style="letter-spacing:0.2pt;">&#8221; means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system, of any jurisdiction applicable to Awards granted to residents therein. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">A&amp;R Merger Agreement</font><font style="letter-spacing:0.2pt;">&#8221; means the Amended and Restated Agreement and Plan of Merger, dated as of December 15, 2021, by and among Bitdeer Technologies Holding Company, an exempted company with limited liability incorporated under the laws of the Cayman Islands, the Company, Blue Safari Merge Limited, a British Virgin Islands business company and a wholly-owned subsidiary of the Company, Blue Safari Merge II Limited, a British Virgin Islands business company and a wholly-owned subsidiary of the Company, Bitdeer Merge Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of the Company, Blue Safari Group Acquisition Corp., a British Virgin Islands business company and Blue Safari Mini Corp, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of Blue Safari Group Acquisition Corp. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Award</font><font style="letter-spacing:0.2pt;">&#8221; means an Option, Restricted Share or Restricted Share Unit award(s) granted to a Participant pursuant to the Plan, and an Award may consist of one such security or benefit, or two or more of them in any combination or alternative. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Board</font><font style="letter-spacing:0.2pt;">&#8221; means the board of directors of the Company. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.5</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Cause</font><font style="letter-spacing:0.2pt;">&#8221; with respect to a Participant means (unless otherwise expressly provided in the applicable Notice of Grant, or another applicable contract with the Participant that defines such term for purposes of determining the effect that a &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">for cause</font><font style="letter-spacing:0.2pt;">&#8221; termination has on the Participant&#8217;s Awards) each of the following and the determination of the existence of Cause shall be determined by the Committee: </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant has been negligent in the discharge of his or her duties to the Service Recipient, has refused to perform stated or assigned duties or is incompetent in or (other than by reason of a disability or analogous condition) incapable of performing those duties; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant has been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure or use of inside information, customer lists, trade secrets or other confidential information; </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">C-1</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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        <div style="margin-left:20pt; text-indent:20pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant has breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation, or policy of the Service Recipient; or has been convicted of, or plead guilty or nolo contendere to, a felony or misdemeanor (other than minor traffic violations or similar offenses); </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(d)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant has materially breached any of the provisions of any agreement with the Service Recipient; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(e)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business, or assets of, the Service Recipient; or </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(f)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant has improperly induced a vendor or customer to break or terminate any contract with the Service Recipient or induced a principal for whom the Service Recipient acts as agent to terminate such agency relationship. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A termination for Cause shall be deemed to occur (subject to reinstatement upon a contrary final determination by the Committee) on the date on which the Service Recipient first delivers written notice to the Participant of a finding of termination for Cause. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.6</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Code</font><font style="letter-spacing:0.2pt;">&#8221; means the Internal Revenue Code of 1986 of the United States, as amended. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.7</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Committee</font><font style="letter-spacing:0.2pt;">&#8221; means a committee of the Board described in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;10</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.8</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Consultant</font><font style="letter-spacing:0.2pt;">&#8221; means any Person who renders services directly or indirectly to a Service Recipient and recognized by the Committee; provided that such services are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company&#8217;s securities. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.9</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Corporate Transaction</font><font style="letter-spacing:0.2pt;">&#8221;, unless otherwise defined in a Notice of Grant, means any of the following transactions, provided, however, that the Committee may determine, under (d)&#160;and (e)&#160;whether multiple transactions are related, and its determination shall be final, binding and conclusive: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;an amalgamation, arrangement or consolidation or scheme of arrangement (i)&#160;in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or (ii)&#160;following which the holders of the voting securities of the Company do not continue to hold more than 50% of the combined voting power of the voting securities of the surviving entity; </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the sale, transfer or other disposition of all or substantially all of the assets </font>
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          <font style="letter-spacing:0.2pt;">of the Company; </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the complete liquidation or dissolution of the Company; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(d)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;any reverse takeover or series of related transactions culminating in a reverse takeover (including, but not limited to, a tender offer followed by a reverse takeover) in which the Company is the surviving entity but (A)&#160;the Company&#8217;s equity securities outstanding immediately prior to such takeover are converted or exchanged by virtue of the takeover into other property, whether in the form of securities, cash or otherwise, or (B)&#160;in which securities possessing more than fifty&#160;percent (50%) of the total combined voting power of the Company&#8217;s outstanding securities are transferred to a Person or Persons different from those who held or beneficially owned such securities immediately prior to such takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction; or </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(e)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;acquisition in a single or series of related transactions by any Person or related group of Persons (other than the Company, or a person that directly or indirectly controls, is controlled by or is under common control with the Company, or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule&#160;13d-3 of the Exchange Act) of securities possessing more than fifty&#160;percent (50%) of the total combined voting power of the Company&#8217;s outstanding securities but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">C-2</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.10</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Director</font><font style="letter-spacing:0.2pt;">&#8221; means a member of the Board or a member of the board of directors of any Parent, Subsidiary or Related Entity of the Company. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.11</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Disability</font><font style="letter-spacing:0.2pt;">&#8221;, unless otherwise defined in a Notice of Grant, means that the Participant qualifies to receive long-term disability payments under the Service Recipient&#8217;s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides services regardless of whether the Participant is covered by such policy. If the Service Recipient to which the Participant provides service does not have a long-term disability plan in place, &#8220;Disability&#8221; means that a Participant is unable to carry out the responsibilities and functions of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Committee in its discretion. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.12</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Effective Date</font><font style="letter-spacing:0.2pt;">&#8221; shall have the meaning set forth in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;11.1</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.13</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Employee</font><font style="letter-spacing:0.2pt;">&#8221; means any person, including an officer of the Company or any Parent, Subsidiary or Related Entity of the Company, who is in the employment of a Service Recipient, subject to the control and direction of the Service Recipient as to both the work to be performed and the manner and method of performance. The payment of a director&#8217;s fee by a Service Recipient shall not be sufficient to constitute &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">employment</font><font style="letter-spacing:0.2pt;">&#8221; by the Service Recipient. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.14</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Exchange Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Securities Exchange Act of 1934 of the United States, as amended. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.15</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Fair Market Value</font><font style="letter-spacing:0.2pt;">&#8221; means, as of any date, the value of Shares determined as follows: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;If the Shares are listed on one or more established stock exchanges or national market systems, including without limitation, The New York Stock Exchange and The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Shares are listed (as determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;If the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer, its Fair Market Value shall be the closing sales price for such shares as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; or </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;In the absence of an established market for the Shares of the type described in (a)&#160;and (b), above, the Fair Market Value thereof shall be determined by the Committee in good faith and in its discretion by reference to one or more of the following and such Fair Market Value shall be binding on all participants: (i)&#160;the placing price of the latest private placement of the Shares and the development of the Company&#8217;s business operations and the general economic and market conditions since such latest private placement, (ii)&#160;other third party transactions involving the Shares and the development of the Company&#8217;s business operation and the general economic and market conditions since such sale, (iii)&#160;an independent valuation of the Shares, or (iv)&#160;such other methodologies or information as the Committee determines, to be indicative of Fair Market Value and relevant. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.16</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Incentive Share Option</font><font style="letter-spacing:0.2pt;">&#8221; means an Option that is intended to meet the requirements of Section&#160;422 of the Code or any successor provision thereto. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.17</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Independent Director</font><font style="letter-spacing:0.2pt;">&#8221; means (i)&#160;before the Shares or other securities representing the Shares are listed on a stock exchange, a member of the Board who is a Non-Employee Director; and (ii)&#160;after the Shares or other securities representing the Shares are listed on a stock exchange, a member of the Board who meets the independence standards under the applicable corporate governance rules of the stock exchange. </font>
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          <font style="letter-spacing:0.2pt;">C-3</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.18</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Non-Employee Director</font><font style="letter-spacing:0.2pt;">&#8221; means a member of the Board who qualifies as a &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Non-Employee Director</font><font style="letter-spacing:0.2pt;">&#8221; as defined in Rule&#160;16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.19</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Non-Qualified Share Option</font><font style="letter-spacing:0.2pt;">&#8221; means an Option that is not intended to be an Incentive Share Option. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.20</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Notice of Grant</font><font style="letter-spacing:0.2pt;">&#8221; means the notice of grant to be sent from the Committee, on behalf of the Company, to the Participant evidencing an Award, including through electronic medium, which shall contain such terms and conditions with respect to an Award as the Committee may determine consistent with the Plan. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.21</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Option</font><font style="letter-spacing:0.2pt;">&#8221; means a right granted to a Participant pursuant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;5</font><font style="letter-spacing:0.2pt;"> of the Plan to purchase a specified number of Shares at a specified price during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.22</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Participant</font><font style="letter-spacing:0.2pt;">&#8221; means a Person who has been granted an Award as determined by the Committee pursuant to the Plan, including but not limited to a Director, Employee, and Consultant, etc. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.23</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Parent</font><font style="letter-spacing:0.2pt;">&#8221; means a parent corporation under Section&#160;424(e) of the Code. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.24</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Person</font><font style="letter-spacing:0.2pt;">&#8221; means any individual, general partnership, limited partnership, limited liability partnership, limited liability company, corporation, joint venture, trust, business trust, cooperative or association and the heirs, executors, administrators, legal representatives, successors and assigns of such Person where the context so permits. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.25</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Plan</font><font style="letter-spacing:0.2pt;">&#8221; means this 2021 Share Incentive Plan, as it may be amended from time to time. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.26</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Related Entity</font><font style="letter-spacing:0.2pt;">&#8221; means any business, corporation, partnership, limited liability company or other entity in which the Company, a Parent or Subsidiary of the Company holds a substantial ownership interest, directly or indirectly, but which is not a Subsidiary and which the Committee designates as a Related Entity for purposes of the Plan. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.27</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Restricted Share</font><font style="letter-spacing:0.2pt;">&#8221; means a Share awarded to a Participant pursuant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;6</font><font style="letter-spacing:0.2pt;"> that is subject to certain restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions and other terms and conditions established by the Committee and may be subject to risk of forfeiture. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.28</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Restricted Share Unit</font><font style="letter-spacing:0.2pt;">&#8221; means the right granted to a Participant pursuant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;7</font><font style="letter-spacing:0.2pt;"> to receive a Share at a future date. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.29</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Securities Act</font><font style="letter-spacing:0.2pt;">&#8221; means the Securities Act of 1933 of the United States, as amended. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.30</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Service Recipient</font><font style="letter-spacing:0.2pt;">&#8221; means the Company, any Parent, Subsidiary or Related Entity of the Company, to which a Participant provides services as an Employee, a Consultant or a Director. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.31</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Share</font><font style="letter-spacing:0.2pt;">&#8221; means ordinary shares of the Company, and such other securities of the Company that may be substituted for Shares pursuant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;9</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.32</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Subsidiary</font><font style="letter-spacing:0.2pt;">&#8221; means any corporation or other entity of which a majority of the outstanding voting shares or voting power is beneficially owned directly or indirectly by the Company. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">2.33</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Trading Date</font><font style="letter-spacing:0.2pt;">&#8221; means the closing of the first sale to the general public of the Shares pursuant to a registration statement filed with and declared effective by the U.S. Securities and Exchange Commission under the Securities Act. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">C-4</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 3</font>
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          <font style="letter-spacing:-0.2pt;">SHARES SUBJECT TO THE PLAN</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">3.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Number of Shares</font><font style="letter-spacing:0.2pt;">. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Subject to the provisions of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;9</font><font style="letter-spacing:0.2pt;"> and </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1(b)</font><font style="letter-spacing:0.2pt;">, the maximum aggregate number of Shares which may be issued pursuant to all Awards (including Incentive Share Options) shall initially be [&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;]</font><font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">1</font><font style="letter-spacing:0.2pt;"> ordinary shares of the Company (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Share Limit</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;To the extent that an Award terminates, expires, or lapses for any reason, any Shares subject to the Award shall again be available for the grant of an Award pursuant to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form or combination by the Company or any Parent or Subsidiary of the Company shall not be counted against Shares available for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award under the Plan, in payment of the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1(a)</font><font style="letter-spacing:0.2pt;">. If any Awards are forfeited by the Participant or repurchased by the Company, the Shares underlying such Awards may again be optioned, granted or awarded hereunder, subject to the limitations of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1(a)</font><font style="letter-spacing:0.2pt;">. Notwithstanding the provisions of this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1(b)</font><font style="letter-spacing:0.2pt;">, no Shares may again be optioned, granted, or awarded if such action would cause an Incentive Share Option to fail to qualify as an Incentive Share Option under Section&#160;422 of the Code. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">3.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Shares Distributed</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Any Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, if applicable, in the discretion of the Committee, American Depository Shares in an amount equal to the number of Shares which otherwise would be distributed pursuant to an Award may be distributed in lieu of Shares in settlement of any Award. If the number of Shares represented by an American Depository Share is other than on a one-to-one basis, the Share Limit of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1</font><font style="letter-spacing:0.2pt;"> shall be adjusted to reflect the distribution of American Depository Shares in lieu of Shares. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 4</font>
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          <font style="letter-spacing:-0.2pt;">ELIGIBILITY AND PARTICIPATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">4.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Eligibility</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Persons eligible to participate in this Plan include Persons recognized by the Committee, e.g., Directors, Employees and Consultants, as determined by the Committee. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">4.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Participation</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom Awards shall be granted and determine the nature and amount of each Award. No individual shall have any right to be granted an Award pursuant to this Plan, unless otherwise determined by the Committee in accordance with the Plan. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">4.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Jurisdictions</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In order to assure the viability of Awards granted to Participants employed in various jurisdictions, the Committee may provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in the jurisdiction in which the Participant resides or is employed. Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose; </font><font style="font-style:italic;letter-spacing:0.2pt;">provided, however</font><font style="letter-spacing:0.2pt;">, that no such supplements, amendments, restatements, or alternative versions shall increase the Share Limit contained in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1</font><font style="letter-spacing:0.2pt;"> of the Plan. Notwithstanding the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws. </font>
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          <font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">1</font>
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          <font style="letter-spacing:0.2pt;">The number shall equal to the product of (i) 2,548,933,157, multiplied by (ii) the Exchange Ratio (as defined in the A&amp;R Merger Agreement).</font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">C-5</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 5</font>
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          <font style="letter-spacing:-0.2pt;">OPTIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">5.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">General</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee is authorized to grant Options to Participants on the following terms and conditions: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Exercise Price</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The exercise price per Share subject to an Option shall be determined by the Committee and set forth in the Notice of Grant which may be a fixed or variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option may be amended or adjusted in the absolute discretion of the Committee, the determination of which shall be final, binding, and conclusive. For the avoidance of doubt, to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options mentioned in the preceding sentence may be effective without the approval of the Company&#8217;s shareholders or the approval of the affected Participants. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Time and Conditions of Exercise</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee may determine the time or times at which an Option may be exercised in whole or in part, including exercise prior to vesting; </font><font style="font-style:italic;letter-spacing:0.2pt;">provided</font><font style="letter-spacing:0.2pt;"> that the term of any Option granted under the Plan shall not exceed ten&#160;years, except as provided in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;12.1</font><font style="letter-spacing:0.2pt;">. The Committee may also determine any conditions, if any, that must be satisfied before all or part of an Option may be exercised. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Payment</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee may determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without limitation (i)&#160;cash or check denominated in U.S. Dollars, (ii)&#160;to the extent permissible under the Applicable Laws, cash or check in Chinese Renminbi, (iii)&#160;cash or check denominated in any other local currency as approved by the Committee, (iv)&#160;Shares held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v)&#160;after the Trading Date the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; </font><font style="font-style:italic;letter-spacing:0.2pt;">provided</font><font style="letter-spacing:0.2pt;"> that payment of such proceeds is then made to the Company upon settlement of such sale, (vi)&#160;other property acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii)&#160;any combination of the foregoing. Notwithstanding any other provision of the Plan to the contrary, no Participant who is a member of the Board or an &#8220;executive officer&#8221; of the Company within the meaning of Section&#160;13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any method which would violate Section&#160;13(k) of the Exchange Act. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(d)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Evidence of Grant</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;All Options shall be evidenced by a Notice of Grant sent from the Committee on behalf of the Company to the Participant. The Notice of Grant shall include such additional provisions as may be specified by the Committee. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(e)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Effects of Termination of Employment or Service on Options</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Termination of employment or service shall have the following effects on Options granted to the Participants: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(i)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Dismissal for Cause</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Unless otherwise provided in the Notice of Grant, if a Participant&#8217;s employment by or service to the Service Recipient is terminated by the Service Recipient for Cause, the Participant&#8217;s Options will terminate upon such termination, whether or not the Option is then vested and/or exercisable; </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(ii)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Death or Disability</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Unless otherwise provided in the Notice of Grant, if a Participant&#8217;s employment by or service to the Service Recipient terminates as a result of the Participant&#8217;s death or Disability: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(1)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant (or his or her legal representative or beneficiary, in the case of the Participant&#8217;s Disability or death, respectively), will have the right to exercise the Participant&#8217;s Options (or portion thereof) until the tenth anniversary of the grant date to the extent that such Options were vested and exercisable on the date of the Participant&#8217;s termination of Employment on account of death or Disability; </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">C-6</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(2)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Options, to the extent not vested and exercisable on the date of the Participant&#8217;s termination of Employment or service, shall immediately terminate for nil consideration upon the Participant&#8217;s termination of Employment or service on account of death or Disability; and </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(3)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Options, to the extent exercisable on the date of the Participant&#8217;s termination of Employment on account of death or Disability and not exercised prior to the tenth anniversary of the grant date, shall terminate at the close of business on the tenth anniversary of the grant date. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(iii)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Other Terminations of Employment or Service</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Unless otherwise provided in the Notice of Grant, if a Participant&#8217;s employment by or service to the Service Recipient terminates for any reason other than a termination by the Service Recipient for Cause or because of the Participant&#8217;s death or Disability: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(1)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Participant will have the right to exercise his or her Options (or portion thereof) until the tenth anniversary of the grant date to the extent that such Options were vested and exercisable on the date of the Participant&#8217;s termination of Employment or service; </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(2)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Options, to the extent not vested and exercisable on the date of the Participant&#8217;s termination of Employment or service, shall terminate upon the Participant&#8217;s termination of Employment or service; and </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(3)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the Options, to the extent exercisable on the date of the Participant&#8217;s termination of Employment or service and not exercised prior to the tenth anniversary of the grant date, shall terminate at the close of business on the tenth anniversary of the grant date. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">5.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Incentive Share Options</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Incentive Share Options may be granted to Employees of the Company, a Parent or Subsidiary of the Company. Incentive Share Options may not be granted to Employees of a Related Entity or to Independent Directors or Consultants. The terms of any Incentive Share Options granted pursuant to the Plan, in addition to the requirements of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;5.1</font><font style="letter-spacing:0.2pt;">, must comply with the following additional provisions of this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;5.2</font><font style="letter-spacing:0.2pt;">: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Individual Dollar Limitation</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed US$100,000 or such other limitation as imposed by Section&#160;422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share Options. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Exercise Price</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The exercise price of an Incentive Share Option shall be equal to the Fair Market Value on the date of grant. However, the exercise price of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten&#160;percent of the total combined voting power of all classes of shares of the Company may not be less than 110% of Fair Market Value on the date of grant and such Option may not be exercisable for more than five&#160;years from the date of grant. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Transfer Restriction</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Participant shall give the Committee prompt notice of any disposition of Shares acquired by exercise of an Incentive Share Option within (i)&#160;two&#160;years from the date of grant of such Incentive Share Option or (ii)&#160;one year after the transfer of such Shares to the Participant. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(d)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Expiration of Incentive Share Options</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Award of an Incentive Share Option may be made pursuant to this Plan after the tenth anniversary of the Effective Date. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(e)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Right to Exercise</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;During a Participant&#8217;s lifetime, an Incentive Share Option may be exercised only by the Participant. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 6</font>
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          <font style="letter-spacing:-0.2pt;">RESTRICTED SHARES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">6.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Grant of Restricted Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee, at any time and from time to time, may grant Restricted Shares to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, may determine the number of Restricted Shares to be granted to each Participant. </font>
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          <font style="letter-spacing:0.2pt;">C-7</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">6.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Restricted Shares Notice of Grant</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each Award of Restricted Shares shall be evidenced by a Notice of Grant that shall specify the period of restriction, the number of Restricted Shares granted, the vesting schedule and such other terms and conditions as the Committee, in its sole discretion, may determine. Unless the Committee determines otherwise, Restricted Shares shall be held by the Company as escrow agent until the restrictions on such Restricted Shares have lapsed. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">6.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Issuance and Restrictions</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Restricted Shares shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, without limitation, limitations on transfer, right of first refusal, repurchase provisions, forfeiture provisions, the right to vote Restricted Shares or the right to receive dividends on the Restricted Share). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">6.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Forfeiture/Repurchase</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or service during the applicable restriction period, the unvested Restricted Shares and the Restricted Shares that are at that time subject to restrictions shall be forfeited or repurchased in accordance with the Notice of Grant; </font><font style="font-style:italic;letter-spacing:0.2pt;">provided, however</font><font style="letter-spacing:0.2pt;">, the Committee may (a)&#160;provide in any Restricted Share Notice of Grant that restrictions or forfeiture and repurchase conditions relating to Restricted Shares will be waived in whole or in part in the event of terminations resulting from specified causes, and (b)&#160;in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Shares. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">6.5</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Certificates for Restricted Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Restricted Shares granted pursuant to the Plan may be evidenced in such manner as the Committee may determine. If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Shares, and the Committee may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">6.6</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Removal of Restrictions</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as otherwise provided in this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;6</font><font style="letter-spacing:0.2pt;">, Restricted Shares granted under the Plan shall be released from escrow as soon as practicable after the last day of the period of restriction. The Committee, in its discretion, may accelerate the time at which any restrictions shall lapse or be removed. After the restrictions have lapsed, the Participant shall be entitled to have any legend or legends under </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;6.5</font><font style="letter-spacing:0.2pt;"> removed from his or her Share certificate, and the Shares shall be freely transferable by the Participant, subject to applicable legal restrictions. The Committee (in its discretion) may establish procedures regarding the release of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens on the Company. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 7</font>
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          <font style="letter-spacing:-0.2pt;">RESTRICTED SHARE UNITS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">7.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Grant of Restricted Share Units</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee, at any time and from time to time, may grant Restricted Share Units to Participants as the Committee, in its sole discretion, may determine. The Committee, in its sole discretion, may determine the number of Restricted Share Units to be granted to each Participant. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">7.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Restricted Share Units Notice of Grant</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each Award of Restricted Share Units shall be evidenced by a Notice of Grant that shall specify any vesting conditions, the number of Restricted Share Units granted, the vesting schedule and the delivery schedule (which may include deferred delivery later than the vesting date) and such other terms and conditions as the Committee, in its sole discretion, may determine. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">7.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Performance Objectives and Other Terms</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee, in its discretion, may set performance objectives or other vesting criteria which, depending on the extent to which they are met, will determine the number or value of Restricted Share Units that will be paid out to the Participants. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">7.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Form and Timing of Payment of Restricted Share Units</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;At the time of grant, the Committee may specify the date or dates on which the Restricted Share Units shall become fully vested and nonforfeitable. Upon vesting, the Committee, on behalf of the Company, may pay Restricted Share Units in the form of cash, in Shares, or other forms of payment or in any combination of the foregoing, as agreed in the Notice of Grant. </font>
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          <font style="letter-spacing:0.2pt;">C-8</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">7.5</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Forfeiture/Repurchase</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or service during the applicable restriction period or for other reasons recognized by the Committee, Restricted Share Units that are at that time unvested shall be forfeited or repurchased by the Company in accordance with the Notice of Grant; </font><font style="font-style:italic;letter-spacing:0.2pt;">provided, however</font><font style="letter-spacing:0.2pt;">, the Committee may (a)&#160;provide in any Restricted Share Notice of Grant that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the event of terminations resulting from specified causes, and (b)&#160;in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Share Units. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 8</font>
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          <font style="letter-spacing:-0.2pt;">PROVISIONS APPLICABLE TO AWARDS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Notice of Grant</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Awards under the Plan shall be evidenced by Notice of Grant that set forth the terms, conditions and limitations for each Award which may include the term of an Award, the provisions applicable in the event the Participant&#8217;s employment or service terminates, and the Company&#8217;s authority to unilaterally or bilaterally amend, modify, suspend, cancel, or rescind an Award. </font>
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        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">No Transfer</font><font style="letter-spacing:0.2pt;"> ability; Limited Exception to Transfer Restrictions. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.2.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Limits on Transfer</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Unless otherwise expressly provided in (or pursuant to) this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;8.2</font><font style="letter-spacing:0.2pt;">, by Applicable Law and by the Notice of Grant, as the same may be amended: all Awards are non-transferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance, or charge; </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;Awards will be exercised only by the Participant or the Participant&#8217;s legal representative or beneficiary in the case of the Participant&#8217;s Disability or death, respectively, as set forth under Section&#160;5.1(e)(ii); and </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;amounts payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the case of Shares, registered in the name of, the Participant. </font>
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          <font style="letter-spacing:0.2pt;">In addition, the Shares shall be subject to the restrictions set forth in the applicable Notice of Grant. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.2.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Further Exceptions to Limits on Transfer</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The exercise and transfer restrictions in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;8.2.1</font><font style="letter-spacing:0.2pt;"> will not apply to: </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;transfers to the Company or a Subsidiary; </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;transfers by gift to &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">immediate family</font><font style="letter-spacing:0.2pt;">&#8221; as that term is defined in SEC Rule&#160;16a-1(e) promulgated under the Exchange Act; </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;the designation of a beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises by the Participant&#8217;s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution; or </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(d)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant&#8217;s duly authorized legal representative; or </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">(e)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;subject to the prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer to one or more natural persons who are the Participant&#8217;s family members or entities owned and controlled by the Participant and/or the Participant&#8217;s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners are the Participant and/or the Participant&#8217;s family members, or to such other Persons as may be expressly approved by the Committee, pursuant to such conditions and procedures as the Committee or may establish. Any permitted transfer shall be subject to the condition that the Committee receives evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes and on a basis consistent with the Company&#8217;s lawful issue of securities. </font>
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          <font style="letter-spacing:0.2pt;">Notwithstanding anything else in this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;8.2.2</font><font style="letter-spacing:0.2pt;"> to the contrary, but subject to compliance with all Applicable Laws, Incentive Share Options, Restricted Shares and Restricted Share Units will </font>
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          <font style="letter-spacing:0.2pt;">C-9</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">be subject to any and all transfer restrictions under the Code applicable to such Awards or necessary to maintain the intended tax consequences of such Awards. Notwithstanding clause (b)&#160;above but subject to compliance with all Applicable Laws, any contemplated transfer by gift to &#8220;immediate family&#8221; as referenced in clause (b)&#160;above is subject to the condition precedent that the transfer be approved by the Committee in order for it to be effective. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Beneficiaries</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Notwithstanding </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;8.2</font><font style="letter-spacing:0.2pt;">, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant&#8217;s death. A beneficiary, legal guardian, legal representative, or other Person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Notice of Grant applicable to the Participant, except to the extent the Plan and Notice of Grant otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a Person other than the Participant&#8217;s spouse as his or her beneficiary with respect to more than 50% of the Participant&#8217;s interest in the Award shall not be effective without the prior written consent of the Participant&#8217;s spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the Person entitled thereto pursuant to the Participant&#8217;s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is filed with the Committee. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Share Certificates</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates evidencing the Shares pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of counsel, that the issuance and delivery of such certificates is in compliance with all Applicable Laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the Shares are listed or traded. All Share certificates delivered pursuant to the Plan are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with all Applicable Laws, and the rules of any national securities exchange or automated quotation system on which the Shares are listed, quoted, or traded. The Committee may place legends on any Share certificate to reference restrictions applicable to the Shares. In addition to the terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants, agreements, and representations as the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.5</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Paperless Administration</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Subject to Applicable Laws, the Committee may make Awards, provide applicable disclosure and procedures for exercise of Awards by an internet website or interactive voice response system for the paperless administration of Awards. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">8.6</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Payment Method</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In the event the exercise price for an Award is paid in a currency other than U.S. dollars or any other form of payment as permitted in the Notice of Grant, the amount payable will be determined by conversion from U.S. dollars at the exchange rates set forth in the Notice of Grant or as selected by the Committee on the date of exercise. A Participant (or his or her legal representative or beneficiary, in the case of the Participant&#8217;s Disability or death, respectively), may be required to provide evidence that any currency used to pay the exercise price of any Award was acquired and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign exchange control laws and regulations. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 9</font>
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          <font style="letter-spacing:-0.2pt;">CHANGES IN CAPITAL STRUCTURE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">9.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Adjustments</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the shares of Shares or the share price of a Share, the Committee may, make such proportionate and equitable adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such change with respect to (a)&#160;the aggregate number and type of shares that may be issued under the Plan (including, but not limited to, adjustments of the Share Limit in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1</font><font style="letter-spacing:0.2pt;">); (b)&#160;the terms and conditions of any issued and outstanding </font>
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          <font style="letter-spacing:0.2pt;">C-10</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (c)&#160;the grant or exercise price per share for any issued and outstanding Awards under the Plan. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">9.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Corporate Transactions</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as may otherwise be provided in any Notice of Grant or any other written agreement entered into by and between the Company and a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the Committee may, in its sole discretion, provide for (i)&#160;any and all Awards outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise the vested portion of such Awards during a period of time as the Committee may determine, or (ii)&#160;the purchase of any Award for an amount of cash, as determined by the Committee in good faith, which may equal to the amount that could have been attained upon the exercise of such Award (and, for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been attained upon the exercise of such Award, then such Award may be terminated by the Company without payment), or (iii)&#160;the replacement of such Award with other rights or property selected by the Committee in its sole discretion or the assumption of or substitution of such Award by the successor or surviving corporation, or a Parent or Subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, which will preserve the rights under the affected Awards previously granted hereunder, or (iv)&#160;payment of Award in cash based on the value of Shares on the date of the Corporate Transaction plus reasonable interest on the Award through the date when such Award would otherwise be vested or have been paid in accordance with its original terms, if necessary to comply with Section&#160;409A of the Code. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">9.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Outstanding Awards&#8201;&#8212;&#8201;Other Changes</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In the event of any other change in the capitalization of the Company or corporate change other than those specifically referred to in this </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Article&#160;9</font><font style="letter-spacing:0.2pt;">, the Committee may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards issued and outstanding on the date on which such change occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">9.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">No Other Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the Committee under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares subject to an Award or the grant or exercise price of any Award. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE 10</font>
          <br >
          <font style="letter-spacing:-0.2pt;">ADMINISTRATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">10.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Committee</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Plan shall be administered by a committee of one or more members of the Board to whom the Board shall delegate the authority to grant or amend Awards to Participants other than any of the Committee members. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">10.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Action by the Committee</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to it by any officer or other employee of the Company or any Parent, Subsidiary or Related Entity of the Company, the Company&#8217;s independent certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">10.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Authority of the Committee</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion to: </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(a)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;designate Participants to receive Awards; </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(b)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;determine the type or types of Awards to be granted to each Participant; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(c)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;determine the number of Awards to be granted and the number of Shares to which an Award will relate; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(d)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or purchase price, any restrictions or limitations on the </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">C-11</font>
          <br >
        </div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="margin-left:20pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(e)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; </font>
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        <div style="text-indent:40pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(f)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;prescribe the form of each Notice of Grant, which need not be identical for each Participant; </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(g)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;decide all other matters that must be determined in connection with an Award; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(h)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;correct any defect, supply any omission and reconcile any inconsistency in the Plan or any Award, in the manner and to the extent it shall deem desirable to carry the Plan into effect; </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(i)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;establish, adopt, waive, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; </font>
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        <div style="text-indent:40pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(j)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;interpret the terms of, and any matter arising pursuant to, the Plan or any Notice of Grant; </font>
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        <div style="margin-left:40pt; margin-top:8pt; text-align:justify; width:416pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(k)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;reduce the exercise price per Share underlying an Option; and </font>
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        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">(l)</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer the Plan. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">10.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Decisions Binding</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee&#8217;s interpretation of the Plan, any Awards granted pursuant to the Plan, any Notice of Grant and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties, including but not limited to the Company, its shareholders, Participants and any beneficiaries thereof. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE 11</font>
          <br >
          <font style="letter-spacing:-0.2pt;">EFFECTIVE AND EXPIRATION DATE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">11.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Effective Date</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Plan is effective on the Acquisition Merger Effective Time as defined in the A&amp;R Merger Agreement (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Effective Date</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">11.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Expiration Date</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date, unless otherwise determined by the Committee. Any Awards that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable Notice of Grant. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ARTICLE 12</font>
          <br >
          <font style="letter-spacing:-0.2pt;">AMENDMENT, MODIFICATION, AND TERMINATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">12.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Amendment, Modification, And Termination</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;With the approval of the Board, at any time and from time to time, the Committee may, terminate, amend, modify, alter, suspend or discontinue the Plan or any portion thereof. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">12.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Awards Previously Granted</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except with respect to amendments made pursuant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;12.1</font><font style="letter-spacing:0.2pt;">, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the Participant, except to the extent any such amendment, alteration, suspension, discontinuance or termination is made to cause the Plan to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. </font>
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          <font style="letter-spacing:-0.2pt;">ARTICLE 13</font>
          <br >
          <font style="letter-spacing:-0.2pt;">GENERAL PROVISIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.1</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">No Rights to Awards</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Participant, Employee, Director, Consultant or other Person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, Employees, Directors, Consultants and other Persons uniformly. The terms </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">C-12</font>
          <br >
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        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">and conditions of Awards and the Committee&#8217;s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participant is similarly situated). </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.2</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">No Shareholders Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Award gives the Participant any of the rights of a Shareholder of the Company unless and until Shares are in fact issued to such Person in connection with such Award. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.3</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Taxes</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No Shares shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant&#8217;s payroll tax obligations) required or permitted by Applicable Laws to be withheld with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy any income and payroll tax liabilities applicable to the Participant with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income. </font>
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          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.4</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">No Right to Employment or Services</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Nothing in the Plan or any Notice of Grant shall interfere with or limit in any way the right of the Service Recipient to terminate any Participant&#8217;s employment or services at any time, nor confer upon any Participant any right to continue in the employment or services of any Service Recipient. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.5</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Unfunded Status of Awards</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Plan is intended to be an &#8220;unfunded&#8221; plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Notice of Grant shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.6</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Indemnification</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;To the extent allowable pursuant to Applicable Laws, each member of the Committee or of the Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by them in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or proceeding against him or her; </font><font style="font-style:italic;letter-spacing:0.2pt;">provided</font><font style="letter-spacing:0.2pt;"> he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such Persons may be entitled pursuant to the Company&#8217;s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.7</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Relationship to other Benefits</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder. </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.8</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Expenses</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The expenses of administering the Plan shall be borne by the Company and its Subsidiaries. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.9</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Titles and Headings</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">C-13</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:120pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.10</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Fractional Shares</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;No fractional Shares shall be issued and the Committee may determine, in its discretion, whether cash shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.11</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Limitations Applicable to Section&#160;16 Persons</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any Participant who is then subject to Section&#160;16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section&#160;16 of the Exchange Act (including any amendment to Rule&#160;16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by the Applicable Laws, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.12</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Government and Other Regulations</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable Laws, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such exemption. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.13</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Governing Law</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Plan and all Notice of Grant shall be construed in accordance with and governed by the laws of the Cayman Islands. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.14</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;409A</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;To the extent that the Committee determines that any Award granted under the Plan is or may become subject to Section&#160;409A of the Code, the Notice of Grant evidencing such Award shall incorporate the terms and conditions required by Section&#160;409A of the Code. To the extent applicable, the Plan and the Notice of Grant shall be interpreted in accordance with Section&#160;409A of the Code and the U.S. Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulation or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Committee determines that any Award may be subject to Section&#160;409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such amendments to the Plan and the applicable Notice of Grant or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a)&#160;exempt the Award from Section&#160;409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b)&#160;comply with the requirements of Section&#160;409A of the Code and related U.S. Department of Treasury guidance. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">13.15</font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Appendices</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Committee may approve such supplements, amendments, or appendices to the Plan as it may consider necessary or appropriate for purposes of compliance with Applicable Laws or otherwise and such supplements, amendments or appendices shall be considered a part of the Plan; provided, however, that no such supplements shall increase the Share Limit contained in </font><font style="font-weight:bold;letter-spacing:-0.2pt;">Section&#160;3.1</font><font style="letter-spacing:0.2pt;"> of the Plan without the approval of the Board.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">C-14</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:right; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Annex D-1</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VALUATION OF BUSINESS ENTERPRISE </font>
          <br >
          <font style="letter-spacing:-0.2pt;">AS AT 30 SEPTEMBER 2021</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES </font>
          <br >
          <font style="letter-spacing:-0.2pt;">HOLDING COMPANY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FOR THE USE BY </font>
          <br >
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI ACQUISITION CORP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DATE OF REPORT: 17 NOVEMBER 2021 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">REF.: J21168/R21168/BGSA</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ROYSON VALUATION ADVISORY LIMITED</font>
          <br >
          <font style="letter-spacing:0.2pt;">UNIT 1503, 15/F, THE L. PLAZA</font>
          <br >
          <font style="letter-spacing:0.2pt;">367-375 QUEEN&#8217;S ROAD CENTRAL</font>
          <br >
          <font style="letter-spacing:0.2pt;">HONG KONG</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC7">TABLE OF CONTENTS</a><a name="TOC8">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:401pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:190pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:414.11pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tASL"><font style="letter-spacing:-0.2pt;">APPRAISAL SUMMARY LETTER</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tASL">D-1-1</a></font> <a href="#tASL"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tIOTA"><font style="letter-spacing:-0.2pt;">I.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tIOTA"><font style="letter-spacing:-0.2pt;">DESCRIPTION OF THE APPRAISAL</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOTA">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tIOTA">D-1-2</a></font> <a href="#tIOTA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tIOV"><font style="letter-spacing:-0.2pt;">II.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tIOV"><font style="letter-spacing:-0.2pt;">BASIS OF VALUE</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOV">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tIOV">D-1-2</a></font> <a href="#tIOV"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tIOV1"><font style="letter-spacing:-0.2pt;">III.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tIOV1"><font style="letter-spacing:-0.2pt;">PREMISE OF VALUE</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOV1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tIOV1">D-1-2</a></font> <a href="#tIOV1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tIOW"><font style="letter-spacing:-0.2pt;">IV.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tIOW"><font style="letter-spacing:-0.2pt;">SCOPE OF WORK</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOW">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tIOW">D-1-2</a></font> <a href="#tIOW"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tVISO"><font style="letter-spacing:-0.2pt;">V.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tVISO"><font style="letter-spacing:-0.2pt;">INFORMATION SOURCES</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVISO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tVISO">D-1-2</a></font> <a href="#tVISO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tVICO"><font style="letter-spacing:-0.2pt;">VI.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tVICO"><font style="letter-spacing:-0.2pt;">LIMITING CONDITIONS</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVICO">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tVICO">D-1-3</a></font> <a href="#tVICO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tVAB"><font style="letter-spacing:-0.2pt;">VII.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tVAB"><font style="letter-spacing:-0.2pt;">INFORMATION ABOUT BSGA</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVAB">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tVAB">D-1-3</a></font> <a href="#tVAB"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tVATB"><font style="letter-spacing:-0.2pt;">VIII.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tVATB"><font style="letter-spacing:-0.2pt;">INFORMATION ABOUT THE BITDEER GROUP</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVATB">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tVATB">D-1-3</a></font> <a href="#tVATB"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tIXME"><font style="letter-spacing:-0.2pt;">IX.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tIXME"><font style="letter-spacing:-0.2pt;">VALUATION METHODOLOGY</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIXME">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tIXME">D-1-4</a></font> <a href="#tIXME"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tXVAS"><font style="letter-spacing:-0.2pt;">X.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tXVAS"><font style="letter-spacing:-0.2pt;">VALUATION ASSUMPTIONS</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tXVAS">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tXVAS">D-1-10</a></font> <a href="#tXVAS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;font-weight:bold;">
                <a href="#tXIAN"><font style="letter-spacing:-0.2pt;">XI.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;font-weight:bold;">
                <a href="#tXIAN"><font style="letter-spacing:-0.2pt;">SENSITIVITY ANALYSIS</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tXIAN">&#8203;</a>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tXIAN">D-1-11</a></font> <a href="#tXIAN"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tXOV"><font style="letter-spacing:-0.2pt;">XII.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tXOV"><font style="letter-spacing:-0.2pt;">OPINION OF VALUE</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tXOV">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <font style="letter-spacing:0.2pt;"><a href="#tXOV">D-1-11</a></font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        </table>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-i</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="tASL">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Ref.: J21168/R21168/BGSA </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">17 November&#160;2021 </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Blue Safari Group Acquisition Corp.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cheung Kong Center </font> <br ><font style="letter-spacing:0.2pt;">58th Floor, Unit 5801 </font> <br ><font style="letter-spacing:0.2pt;">2 Queens Road Central </font> <br ><font style="letter-spacing:0.2pt;">Central </font> <br ><font style="letter-spacing:0.2pt;">Hong Kong </font></div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Dear Sir or Madam, </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">APPRAISAL SUMMARY LETTER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">RE: VALUATION OF BUSINESS ENTERPRISE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have been instructed by Blue Safari Group Acquisition Corp. (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">BSGA</font><font style="letter-spacing:0.2pt;">&#8221;) to perform an appraisal of the fair market value of a 100% non-controlling equity interest in the business enterprise of Bitdeer Technologies Holding Company (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Bitdeer</font><font style="letter-spacing:0.2pt;">&#8221; and together with its subsidiaries as the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Group</font><font style="letter-spacing:0.2pt;">&#8221;) as at 30 September&#160;2021 (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Appraisal Date</font><font style="letter-spacing:0.2pt;">&#8221;) for transaction purpose. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group is principally engaged in provision of digital asset mining services and with a focus on Bitcoin. Its major business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States (i.e., Pangborn in Washington, Rockdale in Texas, and Knoxville in Tennessee) and Norway (i.e., Molde and Tydal). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA is considering a potential merger agreement which provides for a business combination between BSGA and Bitdeer (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Potential Business Combination</font><font style="letter-spacing:0.2pt;">&#8221;). We understand that our valuation will be used in connection to public documents in relation to the Potential Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In this appraisal, fair market value is defined as the price a willing buyer would pay a willing seller in a transaction on the open market. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The fair market value of the equity interest in the Bitdeer Group is principally derived by the application of the Guideline Publicly-traded Comparable Method under market approach. Our opinion of value relies on a going-concern premise. This premise assumes that the Bitdeer Group is an ongoing business enterprise with management operating in a rational way with a goal of maximising shareholder value. </font>
        </div>
        <div style="margin-top:144pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Royson Valuation Advisory Limited</font>
          <br >
          <font style="letter-spacing:0.2pt;">Unit 1503, 15/F, The L. Plaza, 367-375 Queen&#8217;s Road Central, Hong Kong</font>
          <br >
          <font style="letter-spacing:0.2pt;">G: +852 3583 1405 E: valuation@roysonva.com </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="tIOTA">&#8203;</a><a name="tIOV">&#8203;</a><a name="tIOV1">&#8203;</a><a name="tIOW">&#8203;</a><a name="tVISO">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">I.&nbsp;&nbsp;&nbsp;DESCRIPTION OF THE APPRAISAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The objective of this valuation is to provide an independent opinion on the fair market value of a 100% non-controlling equity interest of the Bitdeer Group as at the Appraisal Date for transaction purpose. We understand that our valuation will be used in connection to public documents in relation to the Potential Business Combination. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The appraisal is conducted in conformity with the generally accepted accounting principles in the United States of America and the International Valuation Standards. These standards contain guideline on the basis and valuation approaches used. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">II.&nbsp;&nbsp;&nbsp;BASIS OF VALUE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The valuation is performed on the basis of fair market value. The Organisation for Economic Co-operation and Development (OECD) defines &#8220;fair market value&#8221; as the price a willing buyer would pay a willing seller in a transaction on the open market. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">III.&nbsp;&nbsp;&nbsp;PREMISE OF VALUE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our opinion of value relies on a going-concern premise. This premise assumes that the Bitdeer Group is an ongoing business enterprise with management operating in a rational way with a goal of maximising shareholder value. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">IV.&nbsp;&nbsp;&nbsp;SCOPE OF WORK</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This appraisal reflects facts and conditions existing at the Appraisal Date. Subsequent events have not been considered and we are not required to update our report for such events and conditions. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our appraisal opinion is based on the assumptions stated herein and on information provided by the management of the Bitdeer Group (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Management</font><font style="letter-spacing:0.2pt;">&#8221;). In the course of our valuation, we have conducted the following processes and procedures: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.81pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.81pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Collected and analysed the relevant historical financial statements and other financial and operational information of the Bitdeer Group from the Management; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Conducted interviews with the Management in relation to the Bitdeer Group&#8217;s history, operations, and prospects of its business; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Researched the general economic outlook and the outlook for the specific industry affecting the business of the Bitdeer Group, its industry and its markets; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Examined the reasonableness of the information as well as other records and documents provided by the Management, in light of our research and analysis on the industry and economic data; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Determined the most appropriate valuation method for the valuation; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Identified the comparable companies of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Developed the appropriate discount rate that reflects the return of entities engaged in a similar line of business and returns from other similar types of projects of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reviewed the underlying assumptions of the financial projections of the Bitdeer Group furnished to us by the Management (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Projection</font><font style="letter-spacing:0.2pt;">&#8221;); and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Evaluated the business enterprise value of the Bitdeer Group based on the assumptions and valuation methods stated in the report. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">V.&nbsp;&nbsp;&nbsp;INFORMATION SOURCES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">To aid us in our analysis, we have consulted, reviewed and relied on the following key information which is publicly available or provided by the Management: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Financial database empowered by Bloomberg; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="tVICO">&#8203;</a><a name="tVAB">&#8203;</a><a name="tVATB">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Relevant industry report and economic data; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Unaudited and/or audited historical financial and operational information of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Projection and the underlying assumptions; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">An industry report on cryptocurrency which is prepared by Frost &amp; Sullivan and sponsored by the Bitdeer Group; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Discussions with the Management and Frost &amp; Sullivan. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VI.&nbsp;&nbsp;&nbsp;LIMITING CONDITIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This appraisal relies upon the following contingent and limiting conditions: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Public, industry, statistical, and other information furnished by others, upon which all or portions of this analysis is based, is believed to be reliable. However, we make no representation as to the accuracy or completeness of such information and have performed no procedures to corroborate the information. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The information supplied to us by the Bitdeer Group is complete and accurate to the best of their knowledge and that the financial statement information reflects the results of operations and financial and business condition of the Bitdeer Group in accordance with generally accepted accounting principles, unless otherwise noted. The financial statements and other related information supplied by management has been accepted as correct without further verification. We have not audited, reviewed, or compiled the financial information provided to us and, accordingly, we express no audit opinion or any other form of assurance on this information. We also have no reason to believe that any material facts have been withheld from us. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">This report is to be used for the specific purposes stated herein and any other use is invalid. No one should rely on our report as a substitute for their own due diligence. No reference to our name or our report, in whole or in part, in any document to be prepared or distributed to third parties may be made without our written consent and approval. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The opinion of value is valid only for the stated purpose as of the valuation date indicated. We take no responsibility for changes in market conditions and assume no obligation to revise our conclusion of value to reflect events or conditions which occur subsequent to the valuation date. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.91pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.91pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">For the prospective financial information approved by management that is used in our engagement, we have not examined or compiled the prospective financial information and therefore, do not express an audit opinion or any other form of assurance on the prospective financial information or the related assumptions. Events and circumstances frequently do not occur as expected and there will usually be differences between prospective financial information and actual results, and those differences may be material. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In arriving at our opinion of value, we have relied to a very considerable extent on the above-mentioned information. Any variation to the assumptions in the valuation could seriously affect our opinion of value. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VII.&nbsp;&nbsp;&nbsp;INFORMATION ABOUT BSGA</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA is a British Virgin Islands company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VIII.&nbsp;&nbsp;&nbsp;INFORMATION ABOUT THE BITDEER GROUP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group is principally engaged in provision of digital asset mining services. Its major business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States (i.e., Pangborn in Washington, Rockdale in Texas, and Knoxville in Tennessee) and Norway (i.e., Molde and Tydal). </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="tIXME">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of 30 June&#160;2021, the designed power supply in use and under construction were approximately 203MW and approximately 782MW, respectively while the power supply in pipeline was approximately 358MW. The total designed power supply of 1,343MW is expected to be fully in use by end of 2024. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As at the Appraisal Date, the theoretical hash rate of the Bitdeer Group was approximately 4.38EH/s. Due to certain delay in the relocation of its mining machines and the construction of the datacenters in Rockdale, the actual average available hash rate of the Bitdeer Group in September&#160;2021 was approximately 2.6EH/s. It is expected that the available hash rate of the Bitdeer Group would resume to the normal level, i.e.,&#160;90% or 95% of the theoretical hash rate, by end of 2021. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">IX.&nbsp;&nbsp;&nbsp;VALUATION METHODOLOGY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Selection of Valuation Methods</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In this valuation, we have considered the three generally recognised valuation approaches, namely cost approach, income approach, and market approach and. The approach or approaches deemed most relevant will then be selected for use. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cost Approach</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The cost approach provides an indication of value using the economic principle that a buyer will pay no more for an asset than the cost to obtain an asset of equal utility, whether by purchase or by construction, unless undue time, inconvenience, risk or other factors are involved. The approach provides an indication of value by calculating the current replacement or reproduction cost of an asset and making deductions for physical deterioration and all other relevant forms of obsolescence. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Market Approach</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The market approach provides an indication of value by comparing the asset with identical or comparable (that is similar) assets for which price information is available. Third-party transactions in the equity of an enterprise generally represent the best estimate of fair market value if they are done at arm&#8217;s length. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Income Approach</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The income approach provides an indication of value by converting future cash flow to a single current value. Under the income approach, the value of an asset/the business entity is determined by reference to the value of income, cash flow or cost savings generated by the asset/ the business entity. A fundamental basis for the income approach is that investors expect to receive a return on their investments and that such a return should reflect the perceived level of risk in the investment </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Valuation Method Adopted</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The valuation approach is determined based on professional judgment and technical expertise after detailed analysis on facts and circumstances. Key factors we have considered include, among other criteria, business nature and stage of development of the subject entity, the quantity and quality of the information provided, access to available data, supply of relevant market transactions, type and nature of the subject asset, purpose and objective of the valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under the cost approach, the fair market value of equity interest is determined based on the replacement costs or reproduction costs of assets rather than the ability to generate streams of benefits in the future. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The value of a service company like the Bitdeer Group is more driven by the future earnings to be generated than the value of its assets. The Bitdeer Group has established its own brand, its customer base and its business networks. These are the intangible assets that exist in the business but not capitalized. Thus, the relationship between the fair market value and the book costs is weak for the Bitdeer Group. Therefore, the cost approach has been disclaimed. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under the market approach, there are two primary methods. The first, often referred to as the Comparable Transactions Method, involves determining valuation multiples from sales of enterprises with </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-4</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">similar financial and operating characteristics and applying those multiples to the subject enterprise. The second, often referred to as the Guideline Publicly-traded Comparable Method, involves identifying and selecting publicly-traded enterprises with financial and operating characteristics similar to the enterprise being valued. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">According to our research, there were some merger and acquisition transactions regarding digital assets mining companies taken place in the recent two&#160;years as listed below: </font>
        </div>
        <table style="width:456pt;height:92.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:241.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Subject Entity </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:45.72pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Stock Ticker </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:92.28pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Market Capitalization as at </font>
                <br >
                <font style="letter-spacing:-0.16pt;">the Appraisal Date* </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Current </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Hash rate** </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:241.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Cipher Mining Inc. </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:45.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">CIFR.US </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:92.28pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">US$2,555&#160;million </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:241.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Core Scientific Holding Company Ltd </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:45.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">XPDI.US </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:92.28pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">US$436&#160;million*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">2.0EH/s</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:241.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Greenidge </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:45.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">GREE.US </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:92.28pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">US$988&#160;million </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1.2EH/s</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:241.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Mawson Infrastructure Group Inc </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:45.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">MIGI.US </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:92.28pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">US$651&#160;million </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:241.26pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Stronghold Digital Mining </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:45.72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">SDIG.US </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:92.28pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">N/A**** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:3.24pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.6pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">The market capitalisation was based on the last price as at the Appraisal Date and extracted from the Bloomberg terminal. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4.09pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
        </div>
        <div style=" margin-top:4.09pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Research from Internet </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4.1pt; margin-bottom:0pt; text-align:justify; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">***</font>
          <br >
        </div>
        <div style=" margin-top:4.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Core Scientific announced that it was going public through a SPAC merger with Power &amp; Digital Infrastructure Acquisition Corp. (XPDI.US) in a deal valuing the group at US$4,300&#160;million on 21 July&#160;2021. The deal has not yet completed as of the Appraisal Date. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4.1pt; margin-bottom:0pt; text-align:justify; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">****</font>
          <br >
        </div>
        <div style=" margin-top:4.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Shares of Stronghold Digital Mining was listed on 20 October&#160;2021. The market capitalisation as at 20 October&#160;2021 was approximately US$1,308&#160;million. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">There are limited historical and forecast operational and financial information available on these newly listed / acquired entities. Thus, the Comparable Transactions Method is not selected. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On the other hand, shares of several major market players in Bitcoin mining sector have been listed. Different value measures or market multiples of the comparable companies are calculated and analysed to induce a series of multiples that are considered representative of the industry average. Once publicly traded enterprises are identified, valuation multiples can be derived, adjusted for comparability, and then applied to the subject enterprise to estimate the value of its equity or enterprise value. The Guideline Publicly-traded Comparable Method generally yields valuation information at the non-controlling, marketable level of value. Thus, it has been selected as the principal valuation method for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In recent&#160;years, the business scale of mining companies has gradually expanded, and the services they provide have also moved towards standardization, resulting in the scale effect. The Management has prepared the Projection based on the historical financial and operating data and the latest business plan of the Bitdeer Group. Therefore, the business enterprise value can be estimated based on forecasts of fundamental conditions in the future rather than current data using the discounted cash flow analysis under the income approach. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">However, the discounted cash flow analysis relies on explicit financial forecasts which require many assumptions, including but not limiting to the forecasted Bitcoin price, the future total Bitcoin network hash rate, the size of transactions, the future transaction fees, the pace of market acceptance of cryptocurrency, the availability of mining rigs and mining farms, the stability of electricity supply, etc. Thus, the discounted cash flow analysis has only been engaged as a secondary approach to cross-check the valuation result derived from the market approach. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Guideline Publicly-traded Comparable Method</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In the Guideline Publicly-traded Comparable Method, the fair market value is based on prices at which stocks of similar companies are trading in a public market. A &#8220;value measure&#8221; is usually a multiple computed by dividing the price of the guideline company&#8217;s stock as at the valuation date by some relevant economic variable observed or calculated from the guideline company&#8217;s financial statements. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Selection of Comparable Companies</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A major requirement in applying the Guideline Publicly-traded Comparable Method is to identify companies that are comparable to the subject company in terms of business nature and associated risks. We have selected comparable companies we think fit for this valuation primarily based on the following criteria: (1)&#160;principally engaged in similar business (i.e., Bitcoin mining); (2)&#160;listed on a reputable capital market for not less than 12&#160;months from the Appraisal Date; (3)&#160;with disclosure on their key performance and financial metrics such as hash rate, earnings before interest, tax and depreciation and amortisation (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">EBITDA</font><font style="letter-spacing:0.2pt;">&#8221;); and (4)&#160;being / expected to be have operating profits in 2021. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based on the above criteria, we have preliminary identified seven entities which are considered as closely comparative to the Bitdeer Group and they are listed in the United States, Canada and the United Kingdom. However, after our further analysis, only five entities are selected as the comparable companies of the Bitdeer Group (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Comparable Companies</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Comparable Companies are considered as highly but not perfectly comparable with the Bitdeer Group in terms of capital structure, operating scale, product mix and business performance metrics. The Comparable Companies are major market players and have a majority of contributed by Bitcoin mining operations. The inclusion of 5 comparable companies also accommodates the fact of not perfectly comparable business. As such, the below list of the Comparable Companies is considered as fair and representative for the purpose of this valuation. A description of their business operation is summarized below: </font>
        </div>
        <table style="width:456pt;margin-bottom:5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:114pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Comparable Companies </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:144pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Principal Business </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:84pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Market </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capitalization </font>
                <br >
                <font style="letter-spacing:-0.16pt;">as at the </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Appraisal Date* </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:78pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Hash rate** </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.833pt 0pt; width:114pt;">
              <font style="letter-spacing:0.2pt;">1. Riot Blockchain, Inc.</font>
              <br >
              <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: RIOT.US)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.833pt 0pt; width:144pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">Riot Blockchain, Inc. operates as a digital currency company. The company focuses on buying cryptocurrency and blockchain businesses, as well as supports blockchain technology companies. It also maintains its existing biotechnology business segments. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.833pt 0pt; width:84pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$2,465.9&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.833pt 0pt; width:78pt;white-space:normal;text-align:center;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 2.6 EH/s</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 7.7EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:114pt;">
              <font style="letter-spacing:0.2pt;">2. Marathon Digital Holdings, Inc.</font>
              <br >
              <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: MARA.US)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Marathon Digital Holdings, Inc. operates as a digital asset technology company. The company mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. It serves customers worldwide. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:84pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$3,146.4&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:78pt;text-align:center;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 2.7EH/s</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Forecast hash&#160;rate by end of 2022: 13.3EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:114pt;">
              <font style="letter-spacing:0.2pt;">3. HIVE Blockchain Technologies Ltd.</font>
              <br >
              <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: HIVE.CN)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. The company validates transactions on block chain networks, as well as provides crypto mining and builds bridges between crypto and traditional capital markets. It serves customers worldwide. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:84pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$1,024.7&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:78pt;text-align:center;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 1.0 EH/s</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 3.0EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <font style="letter-spacing:0.2pt;">4. Hut 8 Mining Corp.</font>
              <br >
              <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: HUT.CN)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:144pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">Hut 8 Mining Corp. operates as a cryptocurrency mining company. The company offers blockchain infrastructure and technology </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:84pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$1,376.0&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:78pt;white-space:normal;text-align:center;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 1.4 EH/s</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:114pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Comparable Companies </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:144pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Principal Business </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:84pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Market </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capitalization </font>
                <br >
                <font style="letter-spacing:-0.16pt;">as at the </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Appraisal Date* </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:78pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Hash rate** </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt 0pt 0.5pt 0pt; width:114pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:144pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">solutions. Hut 8 Mining serves customers in North America. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:84pt;text-align:center;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:78pt;white-space:normal;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">by end of 2022: 6.0EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <font style="letter-spacing:0.2pt;">5. Argo Blockchain PLC</font>
              <br >
              <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: ARB.LN)</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:144pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">Argo Blockchain PLC is principally involved in crypto asset mining. The company&#8217;s mining infrastructure is located at multiple sites in Quebec, Canada. Argo Blockchain serves customers in the United Kingdom. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:84pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$767.1&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:78pt;white-space:normal;text-align:center;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">As the Appraisal Date: 1.3 EH/s</font>
              </div>
              <div style="margin-top:6pt; text-align:justify;">
                <font style="letter-spacing:0.2pt;">Forecast hash rate by end of 2022: 3.7EH/s</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.6pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Being the market capitalisation as at the Appraisal Date extracted from the Bloomberg terminal. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
        </div>
        <div style=" margin-top:4.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Research from internet </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">There are two public companies that have bene shortlisted but finally rejected as comparable companies, namely Bit Digital, Inc. and Bitfarms Ltd. Because their publicly available financial information is considered as not sufficient for this valuation, they are excluded from the Comparable Companies. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Bit Digital, Inc. operates as a Bitcoin mining company, focuses on its mining business located globally in Asia, Canada, and the United States. Bitfarms Ltd. operates as a cryptocurrency mining firm which provides computing power to cryptocurrency networks such as Bitcoin, earning fees from each network for securing and processing transactions and serves customers in Quebec. The market capitalisation of Bit Digital, Inc. and Bitfarms Ltd as at the Appraisal Date were US$397.6&#160;million and US$742.8&#160;million, respectively. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Market Multiple</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In applying the Guideline Publicly-traded Comparable Method, different value measures or market multiples of the comparable companies are calculated and analysed to induce a series of multiples that are considered representative of the industry average. Then, we applied the relevant industry multiples to the subject company to determine a value for the subject company that is on a freely-traded basis. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have applied the market value of enterprise value (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">EV</font><font style="letter-spacing:0.2pt;">&#8221;) multiple in this valuation. EV equals to the sum of (1)&#160;market capitalisation; (2)&#160;value of total debt; (3)&#160;value of preferred equity and non-controlling interest and less (4)&#160;value of cash and cash equivalents. EV is the value of a company&#8217;s core business operations that is available to all shareholders (debt, equity, preferred, etc.). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Hash rate is a measure of the computational power per second used when mining. More simply, it is the speed of mining. It is measured in&#160;units of hash/second, meaning how many calculations per second can be performed. Machines with a high hash power are highly efficient and can process a lot of data in a single second. In the case of Bitcoin, the hash rate indicates the number of times hash values are calculated for PoW every second. Thus, hash rate is considered as one of the relevant economic multiples for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In recent&#160;years, the prices of Bitcoins have fluctuated greatly. The Bitcoin price has soared by 216% from the last peak on December&#160;17 in 2017 at US$20,089 to US$63,554 on April&#160;14, 2021. As at the Appraisal Date, it was valued at US$41,538. The Bitcoin price is generally expected to be on an upward trend, despite the Bitcoin halving event in early 2024. The promising price of Bitcoin boost the mining revenue and the profitability of mining companies and miners, leading to the gradual business expansion in scale of mining companies. This implies that the pure historical financial information cannot fairly reflect the full picture in near future, as such the forecasted figures for the year ended 31 December&#160;2021 are adopted. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For profitability, it can be measured by EBITDA which is capital structure-neutral nature. EBITDA is also useful for transnational comparisons because it ignores the distorting effects of individual countries taxation policies. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-7</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Specifically, we have applied the multiples of (1)&#160;EV-to-Forecasted Revenue for 2021; (2)&#160;EV-to-Forecasted EBITDA for 2021; and (3)&#160;EV-to-hash rate as at the Appraisal Date; of the Comparable Companies for this appraisal. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Based on the available market figures sourced from Bloomberg, we have arrived at the following ratios of the Comparable Companies: </font>
        </div>
        <table style="width:456pt;height:53.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:197.07pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Average </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Median </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">First Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Third Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Low </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">High </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:197.07pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted Revenue for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.04</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">9.97</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.635pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">9.30</td>
            <td style="padding:0pt;padding-left:11.635pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.90</td>
            <td style="padding:0pt;padding-left:12.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">8.62</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">11.82</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.07pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted EBITDA for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">14.84</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">16.45</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.635pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">12.62</td>
            <td style="padding:0pt;padding-left:11.635pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">18.15</td>
            <td style="padding:0pt;padding-left:12.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">8.79</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">19.84</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.07pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-hash rate as at the Appraisal Date </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">911</td>
            <td style="padding:0pt;padding-left:1.83pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">953</td>
            <td style="padding:0pt;padding-left:1.44pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.635pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">775</td>
            <td style="padding:0pt;padding-left:11.635pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.935pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,028</td>
            <td style="padding:0pt;padding-left:12.935pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">596</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">1,102</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:8.59pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Because the computational power capacity of the Bitdeer Group is higher than that of the Comparable Companies, the third quartile of the value ratios of the Comparable Companies are selected and considered as reasonable for this valuation. The following value ratios applied for this valuation are summarised as follows: </font>
        </div>
        <table style="width:456pt;height:53.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:202.96pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Valuation Parameter </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:69.16pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Value </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:90.3pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Selected Multiple </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:57.58pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Weighting Factor </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:202.96pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted Revenue for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:69.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$422,364,000 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:90.3pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">10.90 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:57.58pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">One-third </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:202.96pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted EBITDA for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:69.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$314,104,000 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:90.3pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">18.15 </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:57.58pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">One-third </font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:202.96pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-hash rate as at the Appraisal Date </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:69.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">4.38EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:90.3pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">1,028 per US$million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:57.58pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">One-third</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="text-indent:20pt; margin-top:8.59pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The indicated EV of the Bitdeer Group is the weighted average of the product of the selected ratios of the Comparable Companies generated and its relevant financial and operational information while equal weighting is assigned in this valuation. To derive the fair market value of the entire equity interest, the net debts and non-operating assets and liabilities are first deducted from the indicated EV and finally, the result is subject to a discount for lack of marketability adjustment in order to derive the fair market value of the non-controlling, non-marketable equity interest in the Bitdeer Group. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Discounted Cash Flow Analysis</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">A discounted cash flow analysis involves forecasting the appropriate cash flow stream over an appropriate period and then discounting it back to a present value at an appropriate discount rate. This discount rate should consider the time value of money, inflation, and the risk inherent in ownership of the asset or security interest being valued. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Performing a discounted cash flow analysis requires the preparation and analysis of a reliable forecast of the expected future financial performance of the subject entity. Forecasting cash flow to all investors requires the projection of revenues, operating expenses, taxes, working capital requirements, and capital expenditures for a future period. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Projected cash flow to all investors must then be discounted to a present value using a discount rate, which appropriately accounts for the market cost of capital as well as the risk and nature of the subject cash flows. Finally, an assumption must be made regarding the sustainable long-term rate of earnings growth at the end of the projection period, and a terminal or residual value of the remaining cash flows must be estimated and discounted to a present value. The sum of the present values of the projected cash flows and the terminal value equals the value of the enterprise. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cash Flow Adjustments</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Because we attempted to arrive at free cash flow to equity in our valuation model, net income had to be adjusted for certain items in order to estimate the cash return on the assets that generate the forecast revenue. First, noncash items, including depreciation and amortisation expenses, if any, were added back to net income. Second, forecasted capital expenditures, if any, and investment in operating working capital were subtracted. Working capital requirements were forecast across the entire projection period by analysing growth in operating expenses. </font>
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      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-8</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Discount Rate Estimation</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The discount rate applied to the forecasted cash flows and terminal value must adequately reflect the nature of the subject investment and the risk of the underlying cash flows. For purposes of our analysis, the appropriate discount rate is a cost of equity. The cost of equity is developed through the application of the Capital Asset Pricing Model (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">CAPM</font><font style="letter-spacing:0.2pt;">&#8221;) with reference to the required rates of return demanded by investors for similar projects. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">CAPM</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The CAPM states that an investor requires excess returns to compensate for any risk that is correlated to the risk in the return from the stock market as a whole but requires no excess return for other risks. Risks that are correlated to the risk in the return from the stock market as a whole are referred to as systematic and measured by a parameter called beta, whereas other risks are referred to as non-systematic. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The cost of equity for the Bitdeer Group is the sum of the risk-free rate return, the equity risk premium required by investors to compensate for the systematic risk assumed with adjustments for increment for risk differentials of versus those of the comparable companies, which include risk adjustments for size and other risk factors in relation to the comparable companies. The formula of CAPM is defined as follows: </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Re = Rf + &beta;(Rm) + Rc</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:180pt; margin-top:8pt; text-align:justify; width:276pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">where: </font>
        </div>
        <div style=" float:left; margin-left:180pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Re</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:200pt;">
          <font style="letter-spacing:0.2pt;">= Cost of equity </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:180pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Rf</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:200pt;">
          <font style="letter-spacing:0.2pt;">= Risk-free rate </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:180pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&beta;</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:200pt;">
          <font style="letter-spacing:0.2pt;">= Beta </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:180pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Rm</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:200pt;">
          <font style="letter-spacing:0.2pt;">= Market risk premium </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:180pt; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">Rc</font>
          <br >
        </div>
        <div style=" margin-top:0pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:200pt;">
          <font style="letter-spacing:0.2pt;">= Premium for size and other risk factors </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A risk-free rate is based upon the average yields on long-term government bonds in the United States and Singapore as of the Appraisal Date. A market risk premium represents the average total return of common stocks in excess of the income return of long-term securities in the United States and Singapore. In order to estimate the appropriate beta for use in our analysis, we have researched companies in a similar business as the Bitdeer Group and selected our list of comparable companies (i.e., the Comparable Companies). We have derived the unlevered betas from the equity levered betas of the Comparable Companies as at the Appraisal Date by adjusting their respective debt-to-equity ratio and their statutory/effective tax rate. We then apply the debt-to-equity ratio of the comparable companies and the statutory tax rate of the Bitdeer Group to develop the re-levered betas of the comparable companies. The average re-levered beta of the comparable companies is adopted as the proxy and then applied to the CAPM formula. A small capitalisation risk premium and a company specific risk premium are then added to the calculation of the cost of equity. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Small capitalisation risk premium is the excess return that an investor would demand in order to compensate for the additional risk over that of the entire stock market when investing in a small capitalization company. This premium reflects the fact that cost of capital increases with decreasing size of a company. A number of studies were conducted in the U.S. which concludes that the risk premium associated with a small company is over and above the amount that would be warranted just as a result of the company&#8217;s systematic risk derived from the CAPM. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">According to our analysis, the cost of equity of the Bitdeer Group as at the Appraisal Date was 25.0%. It is considered as reasonable because the relative short history and the great uncertainty in the future development of Bitcoin and cryptocurrencies lead to higher discount rates, as compared to other traditional businesses. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Terminal Value Calculation</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The terminal value is based on a terminal value cash flow multiple and such multiple is calculated by subtracting the terminal growth rate from the cost of equity and taking the inverse, which equals the capitalisation rate of the Bitdeer Group. The terminal growth rate is determined based upon the long-term </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-9</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="tXVAS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">industry growth expectations and the forecasted long-term inflation rates in the United States and Singapore. The capitalisation rate is applied to the growth-adjusted terminal year cash flow to determine terminal value. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Discount for Lack of Marketability</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The concept of marketability deals with the liquidity of an ownership interest, that is, how quickly and easily it can be converted to cash if the owner chooses to sell. The discount for lack of marketability reflects the fact that there is no ready market for shares in a closely held corporation. Ownership interests in closely held companies are typically not readily marketable compared to similar interests in public companies. Therefore, a share of stock in a privately held company is usually worth less than an otherwise comparable share in a publicly held company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Based on our qualitative and quantitative analysis, a 12.5% discount is suggested for this valuation. The discount is mainly calculated with the Finnerty model, which is one of the common quantitative methods in assessing the discount for lack of marketability for the shares of private entity, like the Bitdeer Group. This conclusion is also concurred with our findings on other relevant research papers (both formal and informal) and valuation journals on valuation premiums and discounts which are publicly available. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Summary of Results</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indicative fair market values derived from market approach and income approach are summarised as follows: </font>
        </div>
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          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:345.88pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">US$ </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:345.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Fair market value under the Guideline Publicly-traded Comparable Method </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,539,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:345.88pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Fair market value under the discounted cash flow method </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,791,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:7.7pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The principal valuation method for this valuation the Guideline Publicly-traded Comparable Method while the discounted cash flow analysis has only been engaged as a secondary approach to cross-checking. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">X.&nbsp;&nbsp;&nbsp;VALUATION ASSUMPTIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A number of assumptions have to be established in order to sufficiently support our opinion of value. Major assumptions adopted in this appraisal are: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">There will be no major changes in the existing political, legal, fiscal and economic conditions in which the Bitdeer Group carries on its business; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">There will be no major changes in the current taxation law in the country where the Bitdeer Group operates, that the rates of tax payable will remain unchanged and that all applicable laws and regulations will be complied with; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.71pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.71pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">There will be no material changes in the industry in which the Bitdeer Group involves that would materially affect the revenues, profits, cash flows attributable to the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group and/or its partners will obtain the necessary licenses and approvals to provide its service; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Exchange rates and interest rates will not differ materially from those presently prevailing; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The availability of finance will not be a constraint on the forecasted growth of operations of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will successfully maintain its competitiveness and market share through optimizing the utilization of its resources and expanding its marketing network; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group can keep abreast of the latest development of the industry such that its competitiveness and profitability can be sustained; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will utilise and maintain its current operational, administrative and technical facilities to expand and increase its sales; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-10</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="tXIAN">&#8203;</a><a name="tXOV">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">10.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will be able to secure funds to repay its debts when they fall due; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will retain and have competent management, key personnel, and technical staff to support its ongoing operations; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Industry trends and market conditions for related industries will not deviate materially from economic forecasts; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">13.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group has no material unrecorded and/or contingent asset/liability as at the Appraisal Date; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">14.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Projection has been prepared on a reasonable basis, reflecting estimates which have been arrived at after due and careful consideration by the Management; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.09pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">15.</font>
          <br >
        </div>
        <div style=" margin-top:8.09pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The effective tax rate of the Bitdeer Group is 22.00%; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">16.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The perpetual growth rate adopted in the valuation is 5.00%. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">XI.&nbsp;&nbsp;&nbsp;SENSITIVITY ANALYSIS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following tables shows the sensitivity tests on how the fair market value of the Bitdeer Group, that is developed under the Guideline Publicly-traded Comparable Method, changes in response to a 3% increase / decrease in the discount for lack of marketability: </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Fair market value of the Bitdeer Group under the Guideline Publicly-traded Comparable Method:</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:416pt;height:37pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:185.85pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="7">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Discount for Lack of Marketability </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:185.85pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:58.12pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">9.5% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:76.87pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">12.5% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:59.16pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">15.5% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:185.85pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">Fair market value</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:58.12pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">4,695,000,000 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:76.87pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$4,539,000,000 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:59.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$4,384,000</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:8.1pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For reference only, the following tables shows the sensitivity tests on how the fair market value of the Bitdeer Group, that is developed under the discounted cash flow method, changes in response to a change in cost of equity and a change in terminal growth rate: </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Fair market value of the Bitdeer Group under the discounted cash flow method:</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:416pt;height:67pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:205.63pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="16">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Cost of Equity </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:205.63pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Terminal Growth Rate </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">24% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">25% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">26% </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:205.63pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">1%</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,580,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:47.25pt; text-align:right; white-space:nowrap;">4,301,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,048,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:205.63pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">3%</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,835,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:47.25pt; text-align:right; white-space:nowrap;">4,525,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,244,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:205.63pt;text-align:left;">
              <div style="font-weight:bold;">
                <font style="letter-spacing:-0.2pt;">5%</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">5,142,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:bold;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:47.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:bold;">4,791,000,000</div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:44.25pt; text-align:right; white-space:nowrap;">4,477,000,000</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:8.1pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">XII.&nbsp;&nbsp;&nbsp;OPINION OF VALUE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based upon the investigation and analysis outlined above and the appraisal method employed, it is our opinion that the fair market value of the 100% non-controlling equity interest in the Bitdeer Group as at </font><font style="font-weight:bold;letter-spacing:-0.2pt;">30 September&#160;2021</font><font style="letter-spacing:0.2pt;"> is reasonably stated by the amount of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">US DOLLARS FOUR BILLION FIVE HUNDRED AND THIRTY-NINE MILLION ONLY (US$4,539,000,000).</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This opinion of value is based on generally accepted valuation procedures and practices that rely extensively on the use of numerous assumptions and the consideration of many uncertainties, not all of which can be easily quantified or ascertained. Any variation to the assumptions and limiting conditions presented in the following report could seriously affect our opinion of value. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Although our valuation is intended to estimate fair market value, we assume no responsibility for the inability of a seller or buyer to obtain a sale or purchase contract at that price. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have no obligation to update this report or our opinion of value for information that comes to our attention after the date of this report. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-11</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:448pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We hereby confirm that we are independent of and not connected with the Bitdeer Group and BSGA, and have neither present nor prospective interests in them, or the values reported. </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Respectfully submitted, </font> <br ><font style="letter-spacing:0.2pt;">For and on behalf of </font> <br ><font style="font-weight:bold;letter-spacing:-0.2pt;">Royson Valuation Advisory Limited</font><font style="letter-spacing:0.2pt;"> </font></div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Amy W.S. Chan </font> <br ><font style="letter-spacing:0.2pt;">Director </font></div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Ms.&#160;Chan is a member of the Hong Kong Institute of Certified Public Accountants. She has been working in the valuation field for more than 11&#160;years and has participated in over 1,000 assignments regarding business valuation, derivatives valuation, intangible assets valuation and purchase price allocation for numerous listed companies and private entities in different industries.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">- End of Report -</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-1-12</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:right; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Annex D-2</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VALUATION OF BUSINESS ENTERPRISE</font>
          <br >
          <font style="letter-spacing:-0.2pt;">AS AT 13 DECEMBER 2021</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">BITDEER TECHNOLOGIES</font>
          <br >
          <font style="letter-spacing:-0.2pt;">HOLDING COMPANY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FOR THE USE BY</font>
          <br >
          <font style="letter-spacing:-0.2pt;">BLUE SAFARI ACQUISITION CORP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DATE OF REPORT: 14 DECEMBER 2021 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">REF.: J21168/R21168/BGSA/A</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:120pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ROYSON VALUATION ADVISORY LIMITED</font>
          <br >
          <font style="letter-spacing:0.2pt;">UNIT 1503, 15/F, THE L. PLAZA</font>
          <br >
          <font style="letter-spacing:0.2pt;">367-375 QUEEN&#8217;S ROAD CENTRAL</font>
          <br >
          <font style="letter-spacing:0.2pt;">HONG KONG</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC8">TABLE OF CONTENTS</a><a name="TOC9">&#8203;</a><a name="GoBack">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:416pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:175pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:419.11pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">
                <a href="#tASLRev1"><font style="letter-spacing:-0.2pt;">APPRAISAL SUMMARY LETTER</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <a href="#tASLRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tASLRev1">1</a></font> <a href="#tASLRev1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tIOTARev1"><font style="letter-spacing:-0.2pt;">I.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tIOTARev1"><font style="letter-spacing:-0.2pt;">DESCRIPTION OF THE APPRAISAL</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOTARev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tIOTARev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tIOTARev1">2</a></font> <a href="#tIOTARev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tIOVRev1"><font style="letter-spacing:-0.2pt;">II.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tIOVRev1"><font style="letter-spacing:-0.2pt;">BASIS OF VALUE</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOVRev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tIOVRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tIOVRev1">2</a></font> <a href="#tIOVRev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tIOV1Rev1"><font style="letter-spacing:-0.2pt;">III.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tIOV1Rev1"><font style="letter-spacing:-0.2pt;">PREMISE OF VALUE</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOV1Rev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tIOV1Rev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tIOV1Rev1">2</a></font> <a href="#tIOV1Rev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tIOWRev1"><font style="letter-spacing:-0.2pt;">IV.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tIOWRev1"><font style="letter-spacing:-0.2pt;">SCOPE OF WORK</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIOWRev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tIOWRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tIOWRev1">2</a></font> <a href="#tIOWRev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tVISORev1"><font style="letter-spacing:-0.2pt;">V.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tVISORev1"><font style="letter-spacing:-0.2pt;">INFORMATION SOURCES</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVISORev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tVISORev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tVISORev1">2</a></font> <a href="#tVISORev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tVICORev1"><font style="letter-spacing:-0.2pt;">VI.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tVICORev1"><font style="letter-spacing:-0.2pt;">LIMITING CONDITIONS</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVICORev1">&#8203;</a>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tVICORev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tVICORev1">3</a></font> <a href="#tVICORev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tVABRev1"><font style="letter-spacing:-0.2pt;">VII.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tVABRev1"><font style="letter-spacing:-0.2pt;">INFORMATION ABOUT BSGA</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVABRev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tVABRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tVABRev1">3</a></font> <a href="#tVABRev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tVATBRev1"><font style="letter-spacing:-0.2pt;">VIII.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tVATBRev1"><font style="letter-spacing:-0.2pt;">INFORMATION ABOUT THE BITDEER GROUP</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tVATBRev1">&#8203;</a>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tVATBRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tVATBRev1">3</a></font> <a href="#tVATBRev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tIXMERev1"><font style="letter-spacing:-0.2pt;">IX.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tIXMERev1"><font style="letter-spacing:-0.2pt;">VALUATION METHODOLOGY</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tIXMERev1">&#8203;</a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tIXMERev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tIXMERev1">4</a></font> <a href="#tIXMERev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tXVASRev1"><font style="letter-spacing:-0.2pt;">X.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tXVASRev1"><font style="letter-spacing:-0.2pt;">VALUATION ASSUMPTIONS</font></a>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">
                <a href="#tXVASRev1">&#8203;</a>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tXVASRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tXVASRev1">8</a></font> <a href="#tXVASRev1"></a></div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:419.11pt;white-space:normal;text-align:left;">
              <div style=" float:left; line-height:10pt; text-align:left; width:30pt;white-space:nowrap;">
                <a href="#tXOVRev1"><font style="letter-spacing:-0.2pt;">XI.</font>
                  <br >
                </a>
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:30pt;">
                <a href="#tXOVRev1"><font style="letter-spacing:-0.2pt;">OPINION OF VALUE</font></a>
              </div>
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                <a href="#tXOVRev1">&#8203;</a>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">
              <div style="font-weight:normal;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:20.25pt; text-align:right; white-space:nowrap;">
              <div style="font-weight:normal;">
                <a href="#tXOVRev1">D-2-</a><font style="font-weight:bold;letter-spacing:-0.2pt;"><a href="#tXOVRev1">9</a></font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        </table>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-i</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a><a name="tASLRev1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:32pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Ref.: J21168/R21168/BGSA/A </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14 December&#160;2021 </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Blue Safari Group Acquisition Corp.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">58th Floor, Unit 5801 </font> <br ><font style="letter-spacing:0.2pt;">Cheung Kong Center </font> <br ><font style="letter-spacing:0.2pt;">2 Queens Road Central </font> <br ><font style="letter-spacing:0.2pt;">Central </font> <br ><font style="letter-spacing:0.2pt;">Hong Kong </font></div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Dear Sir or Madam, </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">RE: VALUATION OF BUSINESS ENTERPRISE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have been instructed by Blue Safari Group Acquisition Corp. (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">BSGA</font><font style="letter-spacing:0.2pt;">&#8221;) to perform an appraisal of the fair market value of a 100% non-controlling equity interest in the business enterprise of Bitdeer Technologies Holding Company (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Bitdeer</font><font style="letter-spacing:0.2pt;">&#8221; and together with its subsidiaries as the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Bitdeer Group</font><font style="letter-spacing:0.2pt;">&#8221;) as at 13 December&#160;2021 (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Appraisal Date</font><font style="letter-spacing:0.2pt;">&#8221;) for transaction purpose. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group is principally engaged in provision of digital asset mining services and with a focus on Bitcoin. Its major business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States (i.e., Pangborn in Washington, Rockdale in Texas, and Knoxville in Tennessee) and Norway (i.e., Molde and Tydal). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">BSGA has entered into a merger agreement which provides for a business combination between BSGA and Bitdeer. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In this appraisal, fair market value is defined as the price a willing buyer would pay a willing seller in a transaction on the open market. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The fair market value of the equity interest in the Bitdeer Group is principally derived by the application of the Guideline Publicly-traded Comparable Method under market approach. Our opinion of value relies on a going-concern premise. This premise assumes that the Bitdeer Group is an ongoing business enterprise with management operating in a rational way with a goal of maximising shareholder value. </font>
        </div>
        <div style="margin-top:144pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Royson Valuation Advisory Limited</font>
          <br >
          <font style="letter-spacing:0.2pt;">Unit 1503, 15/F, The L. Plaza, 367-375 Queen&#8217;s Road Central, Hong Kong</font>
          <br >
          <font style="letter-spacing:0.2pt;">G: +852 3583 1405 E: valuation@roysonva.com </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a><a name="tIOTARev1">&#8203;</a><a name="tIOVRev1">&#8203;</a><a name="tIOV1Rev1">&#8203;</a><a name="tIOWRev1">&#8203;</a><a name="tVISORev1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">I.&nbsp;&nbsp;&nbsp;DESCRIPTION OF THE APPRAISAL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The objective of this valuation is to provide an independent opinion on the fair market value of a 100% non-controlling equity interest of the Bitdeer Group as at the Appraisal Date for internal reference only. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The appraisal is conducted in conformity with the generally accepted accounting principles in the United States of America and the International Valuation Standards. These standards contain guideline on the basis and valuation approaches used. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">II.&nbsp;&nbsp;&nbsp;BASIS OF VALUE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The valuation is performed on the basis of fair market value. The Organisation for Economic Co-operation and Development (OECD) defines &#8220;fair market value&#8221; as the price a willing buyer would pay a willing seller in a transaction on the open market. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">III.&nbsp;&nbsp;&nbsp;PREMISE OF VALUE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our opinion of value relies on a going-concern premise. This premise assumes that the Bitdeer Group is an ongoing business enterprise with management operating in a rational way with a goal of maximising shareholder value. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">IV.&nbsp;&nbsp;&nbsp;SCOPE OF WORK</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This appraisal reflects facts and conditions existing at the Appraisal Date. Subsequent events have not been considered and we are not required to update our report for such events and conditions. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our appraisal opinion is based on the assumptions stated herein and on information provided by the management of the Bitdeer Group (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Management</font><font style="letter-spacing:0.2pt;">&#8221;). In the course of our valuation, we have conducted the following processes and procedures: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Collected and analysed the relevant historical financial statements and other financial and operational information of the Bitdeer Group from the Management; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Conducted interviews with the Management in relation to the Bitdeer Group&#8217;s history, operations, and prospects of its business; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Researched the general economic outlook and the outlook for the specific industry affecting the business of the Bitdeer Group, its industry and its markets; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Examined the reasonableness of the information as well as other records and documents provided by the Management, in light of our research and analysis on the industry and economic data; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Determined the most appropriate valuation method for the valuation; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Identified the comparable companies of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
          <br >
        </div>
        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Developed the appropriate discount rate that reflects the return of entities engaged in a similar line of business and returns from other similar types of projects of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Reviewed the underlying assumptions of the financial projections of the Bitdeer Group furnished to us by the Management (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Projection</font><font style="letter-spacing:0.2pt;">&#8221;); and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Evaluated the business enterprise value of the Bitdeer Group based on the assumptions and valuation methods stated in the report. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">V.&nbsp;&nbsp;&nbsp;INFORMATION SOURCES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To aid us in our analysis, we have consulted, reviewed and relied on the following key information which is publicly available or provided by the Management: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Financial database empowered by Bloomberg; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Relevant economic data; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a><a name="tVICORev1">&#8203;</a><a name="tVABRev1">&#8203;</a><a name="tVATBRev1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Unaudited and/or audited historical financial and operational information of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.5pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.5pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Projection; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.51pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.51pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Discussions with the Management. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VI.&nbsp;&nbsp;&nbsp;LIMITING CONDITIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This appraisal relies upon the following contingent and limiting conditions: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Public, industry, statistical, and other information furnished by others, upon which all or portions of this analysis is based, is believed to be reliable. However, we make no representation as to the accuracy or completeness of such information and have performed no procedures to corroborate the information. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The information supplied to us by Bitdeer Group is complete and accurate to the best of their knowledge and that the financial statement information reflects the results of operations and financial and business condition of the Bitdeer Group in accordance with generally accepted accounting principles, unless otherwise noted. The financial statements and other related information supplied by management has been accepted as correct without further verification. We have not audited, reviewed, or compiled the financial information provided to us and, accordingly, we express no audit opinion or any other form of assurance on this information. We also have no reason to believe that any material facts have been withheld from us. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">This report is to be used for the specific purposes stated herein and any other use is invalid. No one should rely on our report as a substitute for their own due diligence. No reference to our name or our report, in whole or in part, in any document to be prepared or distributed to third parties may be made without our written consent and approval. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The opinion of value is valid only for the stated purpose as of the valuation date indicated. We take no responsibility for changes in market conditions and assume no obligation to revise our conclusion of value to reflect events or conditions which occur subsequent to the valuation date. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.41pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:7.41pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">For the prospective financial information approved by management that is used in our engagement, we have not examined or compiled the prospective financial information and therefore, do not express an audit opinion or any other form of assurance on the prospective financial information or the related assumptions. Events and circumstances frequently do not occur as expected and there will usually be differences between prospective financial information and actual results, and those differences may be material. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:7.4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In arriving at our opinion of value, we have relied to a very considerable extent on the above-mentioned information. Any variation to the assumptions in the valuation could seriously affect our opinion of value. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VII.&nbsp;&nbsp;&nbsp;INFORMATION ABOUT BSGA</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA is a British Virgin Islands company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">BSGA has entered into a merger agreement which provides for a business combination between BSGA and Bitdeer. </font>
        </div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VIII.&nbsp;&nbsp;&nbsp;INFORMATION ABOUT THE BITDEER GROUP</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group is principally engaged in provision of digital asset mining services. Its major business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States (i.e., Pangborn in Washington, Rockdale in Texas, and Knoxville in Tennessee) and Norway (i.e., Molde and Tydal). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As at the Appraisal Date, the estimated theoretical hash rate of the Bitdeer Group as at December&#160;31, 2021 will be approximately 4.28EH/s. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a><a name="tIXMERev1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">IX. VALUATION METHODOLOGY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Selection of Valuation Methods</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In this valuation, we have considered the three generally recognised valuation approaches, namely cost approach, income approach, and market approach and. The approach or approaches deemed most relevant will then be selected for use. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Cost Approach</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The cost approach provides an indication of value using the economic principle that a buyer will pay no more for an asset than the cost to obtain an asset of equal utility, whether by purchase or by construction, unless undue time, inconvenience, risk or other factors are involved. The approach provides an indication of value by calculating the current replacement or reproduction cost of an asset and making deductions for physical deterioration and all other relevant forms of obsolescence. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Market Approach</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The market approach provides an indication of value by comparing the asset with identical or comparable (that is similar) assets for which price information is available. Third-party transactions in the equity of an enterprise generally represent the best estimate of fair market value if they are done at arm&#8217;s length. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Income Approach</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The income approach provides an indication of value by converting future cash flow to a single current value. Under the income approach, the value of an asset/the business entity is determined by reference to the value of income, cash flow or cost savings generated by the asset/ the business entity. A fundamental basis for the income approach is that investors expect to receive a return on their investments and that such a return should reflect the perceived level of risk in the investment </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Valuation Method Adopted</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The valuation approach is determined based on professional judgment and technical expertise after detailed analysis on facts and circumstances. Key factors we have considered include, among other criteria, business nature and stage of development of the subject entity, the quantity and quality of the information provided, access to available data, supply of relevant market transactions, type and nature of the subject asset, purpose and objective of the valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under the cost approach, the fair market value of equity interest is determined based on the replacement costs or reproduction costs of assets rather than the ability to generate streams of benefits in the future. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The value of a service company like the Bitdeer Group is more driven by the future earnings to be generated than the value of its assets. The Bitdeer Group has established its own brand, its customer base and its business networks. These are the intangible assets that exist in the business but not capitalized. Thus, the relationship between the fair market value and the book costs is weak for the Bitdeer Group. Therefore, the cost approach has been disclaimed. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under the market approach, there are two primary methods. The first, often referred to as the Comparable Transactions Method, involves determining valuation multiples from sales of enterprises with similar financial and operating characteristics and applying those multiples to the subject enterprise. The second, often referred to as the Guideline Publicly-traded Comparable Method, involves identifying and selecting publicly-traded enterprises with financial and operating characteristics similar to the enterprise being valued. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">According to our research, there were some merger and acquisition transactions regarding digital assets mining companies taken place in the recent two&#160;years, such as Cipher Mining Inc. (stock ticker: CIFR.US), Core Scientific Holding Company Ltd. (stock ticker: XPDI.US); Greenidge (stock ticker: GREE.US), Mawson Infrastructure Group Inc (stock ticker: MIGI.US) and Stronghold Digital Mining (stock ticker: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-4</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-bottom:56pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">SDIG.US). However, there are limited historical and forecast operational and financial information available on these newly listed / acquired entities. Thus, the Comparable Transactions Method is not selected. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">On the other hand, shares of several major market players in Bitcoin mining sector have been listed. Different value measures or market multiples of the comparable companies are calculated and analysed to induce a series of multiples that are considered representative of the industry average. Once publicly traded enterprises are identified, valuation multiples can be derived, adjusted for comparability, and then applied to the subject enterprise to estimate the value of its equity or enterprise value. The Guideline Publicly-traded Comparable Method generally yields valuation information at the non-controlling, marketable level of value. Thus, it has been selected as the principal valuation method for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In recent&#160;years, the business scale of mining companies has gradually expanded, and the services they provide have also moved towards standardization, resulting in the scale effect. The Management has prepared the Projection based on the historical financial and operating data and the latest business plan of the Bitdeer Group. Therefore, the business enterprise value can be estimated based on forecasts of fundamental conditions in the future rather than current data using the discounted cash flow analysis under the income approach. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">However, the discounted cash flow analysis relies on explicit financial forecasts which require many assumptions, including but not limiting to the forecasted Bitcoin price, the future total Bitcoin network hash rates, the size of transactions, the future transaction fees, the pace of market acceptance of cryptocurrency, the availability of mining rigs and mining farms, the stability of electricity supply, etc. Thus, the discounted cash flow is not selected in this valuation. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Guideline Publicly-traded Comparable Method</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In the Guideline Publicly-traded Comparable Method, the fair market value is based on prices at which stocks of similar companies are trading in a public market. A &#8220;value measure&#8221; is usually a multiple computed by dividing the price of the guideline company&#8217;s stock as at the valuation date by some relevant economic variable observed or calculated from the guideline company&#8217;s financial statements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Selection of Comparable Companies</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A major requirement in applying the Guideline Publicly-traded Comparable Method is to identify companies that are comparable to the subject company in terms of business nature and associated risks. We have selected comparable companies we think fit for this valuation primarily based on the following criteria: (1)&#160;principally engaged in similar business (i.e., Bitcoin mining); (2)&#160;listed on a reputable capital market for not less than 12&#160;months from the Appraisal Date; (3)&#160;with disclosure on their key performance and financial metrics such as hash rate, earnings before interest, tax and depreciation and amortisation (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">EBITDA</font><font style="letter-spacing:0.2pt;">&#8221;); and (4)&#160;being / expected to be have operating profits in 2021. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">There are five entities which are considered as closely comparative to the Bitdeer Group (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Comparable Companies</font><font style="letter-spacing:0.2pt;">&#8221;) and they are listed in the United States, Canada and the United Kingdom for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Comparable Companies are considered as highly but not perfectly comparable with the Bitdeer Group in terms of capital structure, operating scale, product mix and business performance metrics. The Comparable Companies are major market players and have a majority of contributed by Bitcoin mining operations. The inclusion of five comparable companies also accommodates the fact of not perfectly comparable business. As such, the below list of the Comparable Companies is considered as fair and representative for the purpose of this valuation. A description of their business operation is summarized below: </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-bottom:5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:132pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Comparable Companies </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
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              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Principal Business </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Market </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Capitalization </font>
                <br >
                <font style="letter-spacing:-0.16pt;">as at the </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Appraisal Date</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">*</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:72pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Hash rate </font>
                <br >
                <font style="letter-spacing:-0.16pt;">as at the </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Appraisal </font>
                <br >
                <font style="letter-spacing:-0.16pt;">Date</font><font style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">**</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:132pt;">
              <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">1.</font>
                <br >
              </div>
              <div style=" line-height:12pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Riot Blockchain, Inc.</font>
                <br >
                <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: RIOT.US)</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Riot Blockchain, Inc. operates as a digital currency company. The company focuses on buying cryptocurrency and blockchain businesses, as well as supports blockchain technology companies. It also maintains its existing biotechnology business segments. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">US$2,841&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">3.0 EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:132pt;">
              <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">2.</font>
                <br >
              </div>
              <div style=" line-height:12pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Marathon Digital Holdings, Inc.</font>
                <br >
                <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: MARA.US)</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Marathon Digital Holdings, Inc. operates as a digital asset technology company. The company mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. It serves customers worldwide. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">US$3,781&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">3.2 EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:132pt;">
              <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">3.</font>
                <br >
              </div>
              <div style=" line-height:12pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">HIVE Blockchain Technologies Ltd.</font>
                <br >
                <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: HIVE.CN)</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. The company validates transactions on block chain networks, as well as provides crypto mining and builds bridges between crypto and traditional capital markets. It serves customers worldwide. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">US$1,082&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">1.3 EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:132pt;">
              <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">4.</font>
                <br >
              </div>
              <div style=" line-height:12pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Hut 8 Mining Corp.</font>
                <br >
                <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: HUT.CN)</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Hut 8 Mining Corp. operates as a cryptocurrency mining company. The company offers blockchain infrastructure and technology solutions. Hut 8 Mining serves customers in North America. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:justify;">
              <div style="text-align:justify;">
                <font style="letter-spacing:0.2pt;">US$1,359&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">1.7 EH/s </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:132pt;">
              <div style=" float:left; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">5.</font>
                <br >
              </div>
              <div style=" line-height:12pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Argo Blockchain PLC</font>
                <br >
                <font style="font-style:italic;letter-spacing:0.2pt;">(stock ticker: ARB.LN)</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Argo Blockchain PLC is principally involved in crypto asset mining. The company&#8217;s mining infrastructure is located at multiple sites in Quebec, Canada. Argo Blockchain serves customers in the United Kingdom. </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$575&#160;million </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:72pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">1.6 EH/s</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:13.39pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:9pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Being the market capitalisation as at the Appraisal Date extracted from the Bloomberg terminal. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
        </div>
        <div style=" margin-top:4.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Research from internet </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Market Multiple</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In applying the Guideline Publicly-traded Comparable Method, different value measures or market multiples of the comparable companies are calculated and analysed to induce a series of multiples that are considered representative of the industry average. Then, we applied the relevant industry multiples to the subject company to determine a value for the subject company that is on a freely-traded basis. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have applied the market value of enterprise value (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">EV</font><font style="letter-spacing:0.2pt;">&#8221;) multiple in this valuation. EV equals to the sum of (1)&#160;market capitalisation; (2)&#160;value of total debt; (3)&#160;value of preferred equity and non-controlling interest and less (4)&#160;value of cash and cash equivalents. EV is the value of a company&#8217;s core business operations that is available to all shareholders (debt, equity, preferred, etc.). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Hash rate is a measure of the computational power per second used when mining. More simply, it is the speed of mining. It is measured in&#160;units of hash/second, meaning how many calculations per second can be performed. Machines with a high hash power are highly efficient and can process a lot of data in a single second. In the case of Bitcoin, the hash rate indicates the number of times hash values are calculated for PoW every second. Thus, hash rate is considered as one of the relevant economic multiples for this valuation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In recent&#160;years, the prices of Bitcoins have fluctuated greatly. The Bitcoin price has soared by 216% from the last peak on December&#160;17 in 2017 at US$20,089 to US$63,554 on April&#160;14, 2021. As at the Appraisal Date, it was valued at US$46,829. The Bitcoin price is generally expected to be on an upward trend, despite the Bitcoin halving event in early 2024. The promising price of Bitcoin boost the mining revenue and the profitability of mining companies and miners, leading to the gradual business expansion in scale of mining companies. This implies that the pure historical financial information cannot fairly reflect the full picture in near future, as such the forecasted figures for the year ended 31 December&#160;2021 are adopted. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For profitability, it can be measured by EBITDA which is capital structure-neutral nature. EBITDA is also useful for transnational comparisons because it ignores the distorting effects of individual countries taxation policies. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Specifically, we have applied the multiples of (1)&#160;EV-to-Forecasted Revenue for 2021; (2)&#160;EV-to-Forecasted EBITDA for 2021; and (3)&#160;EV-to-Hash rate as at the Appraisal Date; of the Comparable Companies for this appraisal. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based on the available market figures sourced from Bloomberg, we have arrived at the following ratios of the Comparable Companies: </font>
        </div>
        <table style="width:456pt;height:53.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:197.07pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:26.37pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Average </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:25.59pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Median </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:45.98pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">First Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:48.58pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Third Quartile </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:17.71pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Low </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:22.71pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">High </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:197.07pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted Revenue for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:26.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">10.97 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:25.59pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">8.37 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:45.98pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">7.01 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:48.58pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">14.26 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:17.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">5.64 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:22.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">20.15 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.07pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted EBITDA for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:26.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">14.78 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:25.59pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">14.38 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:45.98pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">10.18 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:48.58pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">19.73 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:17.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">5.97 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:22.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">25.07 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:197.07pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Hash rate as at the Appraisal Date </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:26.37pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">799 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:25.59pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">831 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:45.98pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">596 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:48.58pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">1,001 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:17.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">361 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:22.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">1,171</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Because the computational power capacity of the Bitdeer Group is higher than that of the Comparable Companies, the third quartile of the value ratios of the Comparable Companies are selected and considered as reasonable for this valuation. The following value ratios applied for this valuation are summarised as follows: </font>
        </div>
        <table style="width:456pt;height:53.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:202.96pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:-0.16pt;">Valuation Parameter </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:69.16pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Value </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:90.3pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Selected Multiple </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:57.58pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Weighting Factor </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:202.96pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted Revenue for 2021 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:69.16pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">US$380,167,000 </font>
              </div>
            </td>
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              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">14.26 </font>
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                <font style="letter-spacing:0.2pt;">One-third </font>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Forecasted EBITDA for 2021 </font>
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                <font style="letter-spacing:0.2pt;">US$275,614,000 </font>
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              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">19.73 </font>
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              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">One-third </font>
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              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">EV-to-Hash rate as at the Appraisal Date </font>
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              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">4.28EH/s </font>
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              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">1,001 per US$million </font>
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              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">One-third</font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The indicated EV of the Bitdeer Group is the weighted average of the product of the selected ratios of the Comparable Companies generated and its relevant financial and operational information while equal weighting is assigned in this valuation. To derive the fair market value of the entire equity interest, the net debts and non-operating assets and liabilities are first deducted from the indicated EV and finally, the result is subject to a discount for lack of marketability adjustment in order to derive the fair market value of the non-controlling, non-marketable equity interest in the Bitdeer Group. </font>
        </div>
        <div style="margin-top:12pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Discount for Lack of Marketability</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The concept of marketability deals with the liquidity of an ownership interest, that is, how quickly and easily it can be converted to cash if the owner chooses to sell. The discount for lack of marketability reflects the fact that there is no ready market for shares in a closely held corporation. Ownership interests in closely held companies are typically not readily marketable compared to similar interests in public companies. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-7</font>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a><a name="tXVASRev1">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Therefore, a share of stock in a privately held company is usually worth less than an otherwise comparable share in a publicly held company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based on our qualitative and quantitative analysis, a 13.0% discount is suggested for this valuation. The discount is mainly calculated with the Finnerty model, which is one of the common quantitative methods in assessing the discount for lack of marketability for the shares of private entity, like the Bitdeer Group. This conclusion is also concurred with our findings on other relevant research papers (both formal and informal) and valuation journals on valuation premiums and discounts which are publicly available. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">X.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VALUATION ASSUMPTIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">A number of assumptions have to be established in order to sufficiently support our opinion of value. Major assumptions adopted in this appraisal are: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">There will be no major changes in the existing political, legal, fiscal and economic conditions in which the Bitdeer Group carries on its business; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">There will be no major changes in the current taxation law in the country where the Bitdeer Group operates, that the rates of tax payable will remain unchanged and that all applicable laws and regulations will be complied with; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">There will be no material changes in the industry in which the Bitdeer Group involves that would materially affect the revenues, profits, cash flows attributable to the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group and/or its partners will obtain the necessary licenses and approvals to provide its service; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Exchange rates and interest rates will not differ materially from those presently prevailing; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The availability of finance will not be a constraint on the forecasted growth of operations of the Bitdeer Group; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will successfully maintain its competitiveness and market share through optimizing the utilization of its resources and expanding its marketing network; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group can keep abreast of the latest development of the industry such that its competitiveness and profitability can be sustained; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will utilise and maintain its current operational, administrative and technical facilities to expand and increase its sales; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">10.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will be able to secure funds to repay its debts when they fall due; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group will retain and have competent management, key personnel, and technical staff to support its ongoing operations; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Industry trends and market conditions for related industries will not deviate materially from economic forecasts; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">13.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Bitdeer Group has no material unrecorded and/or contingent asset/liability as at the Appraisal Date; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">14.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The sum of net debts and non-operating assets and liabilities of the Bitdeer Group as at the Appraisal Date amounted to approximately US$252,380,000 as at the Appraisal Date. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-8</font>
          <br >
        </div>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a><a name="tXOVRev1">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-bottom:192pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">XI.&nbsp;&nbsp;&nbsp;OPINION OF VALUE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Based upon the investigation and analysis outlined above and the appraisal method employed, it is our opinion that the fair market value of the 100% non-controlling equity interest in the Bitdeer Group as at </font><font style="font-weight:bold;letter-spacing:-0.2pt;">13&#160;December&#160;2021</font><font style="letter-spacing:0.2pt;"> is reasonably stated by the amount of </font><font style="font-weight:bold;letter-spacing:-0.2pt;">US DOLLARS FOUR BILLION SIX HUNDRED AND THIRTEEN MILLION ONLY (US$4,613,000,000).</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This opinion of value is based on generally accepted valuation procedures and practices that rely extensively on the use of numerous assumptions and the consideration of many uncertainties, not all of which can be easily quantified or ascertained. Any variation to the assumptions and limiting conditions presented in the following report could seriously affect our opinion of value. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Although our valuation is intended to estimate fair market value, we assume no responsibility for the inability of a seller or buyer to obtain a sale or purchase contract at that price. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have no obligation to update this report or our opinion of value for information that comes to our attention after the date of this report. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We hereby confirm that we are independent of and not connected with the Bitdeer Group and BSGA, and have neither present nor prospective interests in them, or the values reported. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Respectfully submitted, </font> <br ><font style="letter-spacing:0.2pt;">For and on behalf of </font> <br ><font style="font-weight:bold;letter-spacing:-0.2pt;">Royson Valuation Advisory Limited</font><font style="letter-spacing:0.2pt;"> </font></div>
        <div style="margin-top:48pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Amy W.S. Chan </font> <br ><font style="letter-spacing:0.2pt;">Director </font></div>
        <div style="margin-top:24pt; text-align:justify; width:456pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Ms.&#160;Chan is a member of the Hong Kong Institute of Certified Public Accountants. She has been working in the valuation field for more than 11&#160;years and has participated in over 1,000 assignments regarding business valuation, derivatives valuation, intangible assets valuation and purchase price allocation for numerous listed companies and private entities in different industries.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">- End of Report -</font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">D-2-9</font>
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    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:420pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PART II</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INFORMATION NOT REQUIRED IN PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;20.&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Cayman Islands law does not limit the extent to which a company&#8217;s memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Islands courts to be contrary to public policy, such as to provide indemnification against willful default, willful neglect, civil fraud or the consequences of committing a crime. BTG&#8217;s memorandum and articles of association shall provide for indemnification of our officers and directors to the maximum extent permitted by law subject to the terms therein, including for any liability incurred in their capacities as such, except through their own fraud, willful default or dishonesty. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is theretofore unenforceable. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;21.&nbsp;&nbsp;&nbsp;Exhibits and Financial Statement Schedules</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>

          <table style="width:456pt;height:620.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:29pt;">
                <font style="letter-spacing:-0.16pt;">Exhibit</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Number </font>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:415pt;text-align:center;">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Description </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:1.917pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">2.1^ </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:1.917pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Amended and Restated Agreement and Plan of Merger, dated as of December 15, 2021, by and among BTG, Bitdeer, Blue Safari Merge Limited, Blue Safari Merge II Limited, Bitdeer Merge Limited, BSGA and Blue Safari Mini Corp. (attached to the proxy statement/prospectus which forms part of this Registration Statement as Annex&#160;A).</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">3.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Memorandum and Articles of Association of BTG </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">3.2 </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Form of Amended and Restated Memorandum and Articles of Association of BTG (attached to the proxy statement/prospectus which forms part of this Registration Statement as Annex&#160;B).</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">4.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Specimen American Depositary Receipt (included in Exhibit&#160;4.3) </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">4.2* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Specimen Ordinary Share Certificate of BTG </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">4.3* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Deposit Agreement, dated as of&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, 2022, among BTG, the depositary and owners and holders of American Depositary Shares </font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">5.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Form of opinion of Travers Thorp Alberga as to validity of ordinary shares of BTG </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">8.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Form of opinion of Davis Polk &amp; Wardwell LLP as to U.S. federal income tax matters </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.1&#8224; </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Voting and Support Agreement, dated as of December 15, 2021, by and among BSGA, Bitdeer and certain shareholder of Bitdeer </font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.2 </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Form of BTG Incentive Plan (attached to the proxy statement/prospectus which forms part of this Registration Statement as Annex&#160;C).</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.3* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Form of Employment Agreement between BTG and executive officers of BTG </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.4* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Form of Indemnification Agreement between BTG and executive officers of BTG </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.5**</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 0.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Lease Agreement, dated as of June 6, 2018, between Alcoa USA Corp. and Dory Creek, LLC </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.6**</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">First Amendment to the Least Agreement, dated as of October 18, 2018, between Alcoa USA Corp. and Bitdeer Inc. (formerly known as Bitmain Inc.)</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.7**</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Second Amendment to the Lease Agreement, dated as of May 1, 2019, between Alcoa USA Corp. and Dory Creek, LLC</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.8**</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Third Amendment to the Lease Agreement, dated as of May 1, 2019, between Alcoa USA Corp. and Dory Creek, LLC</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">10.9**</font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;text-align:justify;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Fourth Amendment to the Lease Agreement, dated as of May 11, 2021, between Alcoa USA Corp. and Dory Creek, LLC</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.10**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Fifth Amendment to the Lease Agreement, dated as of August 30, 2021, between Alcoa USA Corp. and Dory Creek, LLC</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.11**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Sixth Amendment to the Lease Agreement, dated as of October 25, 2021, between Alcoa USA Corp. and Dory Creek, LLC</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.12**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Land Lease Agreement, dated as of November 15, 2019, between Norway Hash Technologies AS and Troll Housing AS</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
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              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.13**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Addendum No. 1 to the Land Lease Agreement, dated as of December 6, 2020, between Norway Hash Technologies AD and Troll Housing AS</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.14**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Addendum No. 2 to the Land Lease Agreement, dated as of March 22, 2021, between Norway Hash Technologies AD and Troll Housing AS</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.15**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Addendum No. 3 to the Land Lease Agreement, dated as of March 22, 2021, between Norway Hash Technologies AD and Troll Housing AS</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.16**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Land Lease Agreement, dated as of April 8, 2021, between Norway Hash Technologies AS and Tydal Data Center AS</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.17**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.5pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Commercial Purchase and Sale Agreement, dated as of February 26, 2018, between Bitmain Inc. and Kemet Foil Manufacturing LLC (FKA Cornell Dublilier, Foil, LLC)</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>

      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-bottom:268.5pt;margin-left:69.66pt;width:456pt;">

          <table style="width:456pt;height:254.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:29pt;">
                <font style="letter-spacing:-0.16pt;">Exhibit</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Number </font>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:415pt;text-align:center;">
                <div style="white-space:nowrap; text-align:center;">
                  <font style="letter-spacing:-0.16pt;">Description </font>
                </div>
              </td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.18**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:415pt;text-align:left;">
                <font style="letter-spacing:0.2pt;">Indenture, dated as of March 20, 2018, between Bitmain Inc. and Carpenter Creek, LLC</font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:12pt;white-space:nowrap;text-align:justify;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:2.167pt 0pt 0.833pt 0pt; width:29pt;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">10.19**</font>
                </div>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:2.167pt 0pt 0.833pt 0pt; width:415pt;white-space:normal;">
                <div style="text-align:justify;">
                  <font style="letter-spacing:0.2pt;">Vacant Land Purchase and Sale Agreement, dated as of August 3, 2017, between Blackhawk Development Inc and Ant Creek, LLC</font>
                </div>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">21.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">List of subsidiaries of BTG </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">23.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Marcum LLP </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">23.2* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of MaloneBailey, LLP </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">23.3* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Frost &amp; Sullivan </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">23.4* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Travers Thorp Alberga (included in Exhibit&#160;5.1) </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">23.5* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Davis Polk &amp; Wardwell LLP (included in Exhibit&#160;8.1) </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">23.6* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Royson Valuation Advisory Limited </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">99.1* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Form of Proxy Card </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">99.2* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Jihan Wu to be named as a director </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">99.3* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Linghui Kong to be named as a director </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">99.4* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Xiaoni Meng to be named as a director </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">99.5* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Consent of Jianchun Liu to be named as a director </font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
            <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:29pt;">
                <font style="letter-spacing:0.2pt;">107* </font>
              </td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:415pt;">
                <font style="letter-spacing:0.2pt;">Filing Fee Table</font>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
            </tr>
          </table>

        <div style="margin-top:12.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">To be filed subsequently after confidential submission </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>

          <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">**</font>
            <br >
          </div>
          <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:20pt;">
            <font style="letter-spacing:0.2pt;">Pursuant to Item&#160;601(b)(10)(iv) of Regulation&#160;S-K promulgated by the Securities and Exchange Commission, certain portions of this exhibit have been redacted because they are both not material and the type that the Company treats as private or confidential</font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>

        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">^</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Schedules and annexes have been omitted. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8224;</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Previously filed </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;22.&nbsp;&nbsp;&nbsp;Undertakings</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The undersigned registrant hereby undertakes: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">i.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">To include any prospectus required by Section&#160;10(a)(3) of the Securities Act of 1933; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">ii.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&#160;424(b) if, in the aggregate, the changes in volume and price represent no more than 20&#160;percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">iii.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:60pt;">
          <font style="letter-spacing:0.2pt;">To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(3)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(4)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To file a post-effective amendment to the registration statement to include any financial statements required by Item&#160;8.A of Form 20-F at the start of any delayed offering or throughout a continuous offering. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and shall be governed by the final adjudication of such issue. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The undersigned registrant hereby undertakes as follows: that prior to any public reoffering of the securities registered hereunder through use of a prospectus which is a part of this registration statement, by any person or party who is deemed to be an underwriter within the meaning of Rule&#160;145(c), the issuer undertakes that such reoffering prospectus shall contain the information called for by the applicable registration form with respect to reoffering&#8217;s by persons who may be deemed underwriters, in addition to the information called for by the other items of the applicable form. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The registrant undertakes that every prospectus: (1)&#160;that is filed pursuant to the immediately preceding paragraph, or (2)&#160;that purports to meet the requirements of Section&#160;10(a)(3) of the Act and is used in connection with an offering of securities subject to Rule&#160;415, shall be filed as a part of an amendment to the registration statement and shall not be used until such amendment is effective, and that, for purposes of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-4</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:216pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The undersigned registrant hereby undertakes that for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(iii)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:justify; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(iv)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:justify; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The undersigned registrant hereby undertakes to respond to requests for information that is incorporated by reference into the prospectus pursuant to Item&#160;4, 10(b), 11, or 13 of this form, within one business day of receipt of such request, and to send the incorporated documents by first class mail or other equally prompt means. This includes information contained in documents filed subsequent to the effective date of the registration statement through the date of responding to the request. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The undersigned registrant hereby undertakes to supply by means of a post-effective amendment all information concerning a transaction, and the company being acquired involved therein, that was not the subject of and included in the registration statement when it became effective.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:486pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">SIGNATURES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement on Form F-4 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Singapore on &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022. </font>
        </div>
        <div style="margin-left:240pt; margin-top:24pt; width:216pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">Bitdeer Technologies Group</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:12pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:12pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:260pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="white-space:nowrap; margin-left:260pt; margin-top:2.5pt; width:196pt;">
          <div style="margin-left: 0pt; width: 196pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-left:260pt; margin-top:2pt; width:196pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Name: </font>
          <br >
          <font style="letter-spacing:0.2pt;">Title: </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">II-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style=" width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC9">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:474pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE OF THE REGISTRANT</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirement of the Securities Act of 1933, the undersigned, the duly undersigned representative in the United States of Bitdeer Technologies Group, has signed this registration statement on Form F-4 in New York, on &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;&#8201; &#8199;&#8199;&#8199;&#8199;, 2022. </font>
        </div>
        <div style="margin-left:240pt; margin-top:24pt; width:216pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">Authorized U.S. Representative</font>
          <br >
          <font style="letter-spacing:-0.2pt;">[Name]</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:12pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:12pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:260pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#8199;</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="white-space:nowrap; margin-left:260pt; margin-top:2.5pt; width:196pt;">
          <div style="margin-left: 0pt; width: 196pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-left:260pt; margin-top:2pt; width:196pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Name: </font>
          <br >
          <font style="letter-spacing:0.2pt;">Title:</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 10.5</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; text-align: left; margin: 0pt 0"><I>Certain confidential information contained in
this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>LEASE</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 7pt 0pt 0; text-indent: 1in">This <B>LEASE</B> (&ldquo;<U>Lease</U>&rdquo;)
is dated as of June 6, 2018 (the &ldquo;<U>Commencement Date</U>&rdquo;) and is by and between Alcoa USA Corp., a Delaware corporation,
201 Isabella Street, Ste. 500, Pittsburgh, Pennsylvania 15212, (&ldquo;<U>Landlord</U>&rdquo;) and Dory Creek, LLC, a Texas limited liability
company, with an office at 2121 W Chandler Blvd, Suite 112 Chandler, AZ 85224 (&ldquo;<U>Tenant</U>&rdquo;). Tenant and Landlord are
collectively referred to as the &ldquo;<U>Parties</U>&rdquo;.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>W I T N E S S E T H</U>:</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 1</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Premises, Term, Rent,
Security Deposit, Lease Extension&nbsp;</U></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: left; text-indent: 1in">1.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
is the owner of certain real property, buildings, infrastructure and electric delivery facilities located in Milam County, Texas (the
 &ldquo;Alcoa Property&rdquo;), including the site of the Landlord&rsquo;s former Rockdale smelter facility. Landlord has agreed to lease
to Tenant, and Tenant has agreed to lease from Landlord, a certain portion of Landlord&rsquo;s real property and improvements located
thereon, all as described herein.</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: left; text-indent: 1in">1.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
hereby leases to Tenant, and Tenant hereby leases from Landlord, the real property and personal property more particularly described
in <U>Exhibit A-1</U> attached hereto (the &ldquo;Land&rdquo;), certain existing buildings and improvements located on the Land (the
 &ldquo;<U>Buildings</U>&rdquo;) as more particularly described in <U>Exhibit A-2</U> and a certain portion of Landlord&rsquo;s existing
electric power delivery network (the &ldquo;Private User Network&rdquo; or &ldquo;<U>PUN</U>&rdquo;) as more particularly described in
<U>Exhibit A-3</U> (excluding, however, certain electric power delivery facilities and equipment retained by Landlord (&ldquo;<U>Landlord&rsquo;s
PUN Equipment</U>&rdquo;) and underground rights or air rights except as expressly set forth herein). The Land, Buildings and the PUN
are sometimes referred to collectively herein as the &ldquo;<U>Premises</U>&rdquo;. The Tenant&rsquo;s use of the Premises as exclusive
or non-exclusive is more specifically designated and detailed in Exhibits attached hereto. Tenant is further granted the non-exclusive
right to use certain common areas (the &ldquo;<U>Common Areas</U>&rdquo;) as more particularly described on <U>Exhibit A-4</U> attached
hereto, and as further referenced in Article 39 hereof and certain portions of Landlord&rsquo;s PUN Equipment. Common Areas and the Landlord&rsquo;s
PUN Equipment are also used by Landlord and may be used by other tenants of Landlord, current and future; provided, however, that out
of the total electric delivery capacity of the Landlord&rsquo;s PUN Equipment (the &ldquo;<U>Total Electric Capacity</U>&rdquo;), the
maximum name plate rating of power transformers [***] and [***] of [***] megawatts and circuit [***] of [***] megawatts for a total of
584 megawatts shall be reserved for Tenant&rsquo;s use of the Landlord&rsquo;s PUN Equipment pursuant to the provisions of this Lease
(the &ldquo;<U>Tenant&rsquo;s Share of Total Electric Capacity</U>&rdquo;). The Common Areas which are to be maintained by Tenant, and
the usage fees to be paid for use by Tenant as additional rent, are stated in <U>Exhibit A-4</U> and Section 39.02.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">1.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall continue to have access to all roads throughout the Premises, and any outdoor space, on an as needed basis to continue to perform
work in accordance with Section 3.01. Landlord reserves to itself the right, from time to time, to grant such easements, rights, restrictions
and dedications that Landlord deems necessary or desirable for management of the Alcoa Property, and to cause the recordation of the
same, so long as such easements, rights, dedications, maps and restrictions do not unreasonably interfere with Tenant&rsquo;s use of
the Premises pursuant to this Lease. Upon request by Landlord, Tenant shall execute any of the aforementioned documents, and failure
to do so shall constitute a material default of this Lease by Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall continue to have access to the Premises&rsquo; courtyards and the equipment, facilitates, and infrastructure adjacent thereto to
perform demolition activities until January 1, 2020. Tenant agrees to cooperate with Landlord, at no material cost to Tenant to help
facilitate the completion of such work. The Tenant and Landlord will work together to reasonably minimize the impact of the work on the</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenant&rsquo;s and Landlord&rsquo;s operations.&nbsp;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
initial term of this Lease (&ldquo;<U>Initial Term</U>&rdquo;), for which the Premises are hereby leased, shall commence on the Commencement
Date and shall end on the last day of the month in which occurs the day preceding the expiration of seven (7) years after the Commencement
Date, which ending date is hereinafter called the &ldquo;<U>Expiration Date</U>&rdquo;, or shall end on such earlier date upon which
said term may expire or be cancelled or terminated pursuant to any of the conditions or covenants of this Lease or pursuant to law or
shall end on such later date upon which said term may be extended pursuant to any of the conditions or covenants of this Lease.&nbsp;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as expressly set forth in this Lease, Tenant shall have no right to enter or occupy the Premises until the Commencement Date, provided
that Tenant has furnished Landlord with copies of those certain documents as specified in <U>Exhibit B</U>. Except as otherwise provided
herein, any entry prior to the Commencement Date, as hereinafter defined, shall be subject to the express written consent of Landlord
and subject to all of the terms and provisions of this Lease; provided further that no such early entry shall operate to change the Commencement
Date or the Expiration Date provided for herein.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">1.06.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
execution hereof, Tenant has paid Landlord a lump sum rent in the amount of [***] for the period from the Commencement Date through December
31, 2018 (the &ldquo;<U>Preliminary Period</U>&rdquo;). The rents payable by Tenant under this Lease, for the balance of the Initial
Term, shall be and consist of:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fixed
Rent</U>. From January 1, 2019 to and including December 31, 2019 (the &ldquo;<U>First Rent Period</U>&rdquo;), Tenant shall pay fixed
rent in the initial amount of [***] per year (&ldquo;<U>Initial Rent</U>&rdquo;), which shall be payable in twelve equal monthly installments
of [***] payable in advance on the first (1<SUP>st</SUP>) day of each and every calendar month in the <U>First Rent Period</U>. From
the termination of the First Rent Period through the balance of the Initial Term, and subject to the escalation provided in Section 1.06(b),
Tenant shall pay fixed rent in the amount of [***] per year, which shall be payable in initial equal monthly installments of [***] for
the remaining Initial Term (collectively &ldquo;<U>Fixed Rent</U>&rdquo;). Fixed Rent is payable in advance on the first (1<SUP>st</SUP>)
day of each and every calendar month, except that Tenant shall pay the first (1<SUP>st</SUP>) monthly installment of Fixed Rent at least
one (1) business day prior to the end of the First Rent Period.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Escalation
of Fixed Rent</U>. Commencing on January 1, 2021, and on each January 1 during the Initial Term, annual Fixed Rent shall increase by
[***]. If applicable, on each January 1 during the Extension Term (as defined below), annual Fixed Rent shall increase by the greater
of [***] or [***], not to exceed [***] in any single year, between (a) the first month and (b) the eleventh month, during the previous
year. The &ldquo;CPI&rdquo; shall be defined as the Index, for Consumer Price Index for All Urban Consumers (CPI-U) for the South, issued
by the Bureau of Labor Statistics for the U.S. Department of Labor; or if the index is no longer published, the index for consumer prices
in such city most closely comparable to said index. The annual adjustment to Fixed Rent is self-operative, but Landlord will annually
notify Tenant of the escalated Fixed Rent for each new year, and the applicable monthly installments for payment of the escalated Fixed
Rent.</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: left; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional
Rent</U>. Additional rent consists of all other sums of money as shall be required to be paid by Tenant to Landlord pursuant to this
Lease (whether or not designated as &ldquo;additional rent&rdquo;), all to be paid to Landlord at Landlord&rsquo;s office, or such other
place, or to such agent and at such place, as Landlord may designate by notice to Tenant, in lawful money of the United States of America.
Such payment of rent shall be in cash or by check (drawn upon a bank whose principal office is located within the continental United
States of America), subject to collection. Landlord shall have the same remedies for any default in the payment of additional rent as
for a default in the payment of Fixed Rent.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.07.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall pay the Fixed Rent and additional rent herein reserved promptly as and when the same shall become due and payable, without demand
therefor and without any abatement, deduction or set-off whatsoever except as expressly provided in this Lease. Tenant&rsquo;s obligation
to pay Fixed Rent and additional rent under this Lease shall not be affected by, nor shall the rent abate or be diminished, reduced,
rebated or refunded on account of any, want of repair, destruction or damage to the Premises or the Improvements, regardless of the cause
or extent of them, or for any inconvenience, discomfort, interruption of business, or otherwise, arising from the making of alterations,
changes, additions or repairs to the Premises or the Improvements, or because of any present or future governmental laws, ordinances,
requirements, orders, directives, rules or regulations, or for any other cause or reason.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">1.08.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Tenant shall fail to pay all or any part of any installment of Fixed Rent or additional rent for more than five (5) business days after
written notice that the same has not been paid, Tenant shall pay as additional rent hereunder to Landlord a late charge of [***] which
shall not have been paid to Landlord within such five (5) business day period.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.09.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
every case in which Tenant is required by the terms of this Lease to pay to Landlord a sum of money (other than a late charge) and payment
is not made within <U>ten (10)</U> days after written notice that the sum has not been paid, Tenant shall pay, as additional rent hereunder,
interest on such sum or so much thereof as shall be unpaid from the date it becomes due until it is paid. Such interest shall be computed
at a rate which shall be [***]; provided, however, that in no event shall such interest be in excess of the highest rate of interest
which shall from time to time be permitted under the laws of the State of Texas to be charged on late payments of sums of money due pursuant
to the terms of a lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
late charge and the interest payable pursuant to this Article shall be (i) payable within ten (10) days of Tenant&rsquo;s receipt of
Landlord&rsquo;s bill therefor and (ii) without prejudice to any of Landlord&rsquo;s rights and remedies hereunder at law or in equity
for nonpayment or late payment of rent or other sum and in addition to any such rights and remedies.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
all or any part of the Fixed Rent or additional rent shall at any time become uncollectible, reduced or required to be refunded by virtue
of any rules, regulations, orders, laws or ordinances, then for the period prescribed thereby Tenant shall pay to Landlord the maximum
amounts permitted pursuant thereto. Upon the expiration of the applicable period of time during which such amounts shall be uncollectible,
reduced or refunded, Tenant shall pay to Landlord as additional rent, within fifteen (15) days after demand, all such uncollected, reduced
or refunded amounts that would have been payable for the period absent such rules, regulations, orders, laws or ordinances; provided,
however, that the retroactive collection thereof shall then be lawful.</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 0pt 1in">1.12.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Reserved.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">1.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall provide to Landlord a clean, irrevocable stand-by letter of credit as security for the performance of the obligations of Tenant
hereunder (together with any renewal or replacement thereof in accordance herewith, the &ldquo;Letter of Credit&rdquo;). Tenant shall
provide the Letter of Credit, prior to occupying the Premises, in the amount of [***]. Any Letter of Credit delivered hereunder shall
comply with the following requirements:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Letter of Credit (i) shall be irrevocable and shall be issued by a commercial bank reasonably acceptable to Landlord that has an office
in Texas that accepts requests for draws on the Letter of Credit, (ii) shall require only the presentation to the issuer of a certificate
of the holder of the Letter of Credit stating that Landlord is entitled to draw on the Letter of Credit pursuant to the terms of the
Lease, (iii) shall be payable to Landlord or its successors in interest as the Landlord and shall be freely transferable without cost
to any such successor or any lender holding a collateral assignment of Landlord&rsquo;s interest in the Lease, (iv) shall be for an initial
term of not less than one year and contain a provision that such term shall be automatically renewed for successive one-year periods
unless the issuer shall, at least ninety (90) days prior to the scheduled expiration date, give Landlord notice of such nonrenewal, and
(v) shall otherwise be in form and substance reasonably acceptable to Landlord. Notwithstanding the foregoing, the term of the Letter
of Credit for the final period shall be for a term ending not earlier than the date thirty (30) days after the last day of the Term (as
defined herein). In the event that the issuer ceases to be reasonably acceptable to Landlord, due to a deterioration in its financial
condition or change in status that threatens to compromise Landlord&rsquo;s ability to draw on the Letter of Credit as determined in
good faith by Landlord, then Tenant shall provide a replacement Letter of Credit from an issuer satisfying the terms of this Exhibit
within thirty (30) days after Landlord&rsquo;s notice of such event.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall be entitled to draw upon the Letter of Credit for its full amount or any portion thereof if (a) Tenant shall fail to perform any
of its obligations under the Lease after the expiration of any applicable notice and cure period, or fail to perform any of its obligations
under the Lease and transmittal of a default notice or the running of any cure period is barred or tolled by applicable law, or fail
to perform any of its obligations under the Lease and any applicable notice and cure period would expire after the expiration of the
Letter of Credit, or (b) not less than thirty (30) days before the scheduled expiration of the Letter of Credit, Tenant has not delivered
to Landlord a new Letter of Credit in accordance with this Section 1.13. Without limiting the generality of the foregoing, Landlord may,
but shall not be obligated to, draw on the Letter of Credit from time to time in the event of a bankruptcy filing by or against Tenant
and/or to compensate Landlord, in such order as Landlord may determine, for all or any part of any unpaid rent, any damages arising from
any termination of the Lease in accordance with the terms of the Lease, and/or any damages arising from any rejection of the Lease in
a bankruptcy proceeding commenced by or against Tenant. Landlord may, but shall not be obligated to, apply the amount so drawn to the
extent necessary to cure Tenant&rsquo;s failure.</P>

<P STYLE="text-align: justify; 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: left; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
amount of the Letter of Credit drawn in excess of the amount applied by Landlord to cure any such failure shall be held by Landlord as
a cash security deposit for the performance by Tenant of its obligations under the Lease. Any cash security deposit may be mingled with
other funds of Landlord and no fiduciary relationship shall be created with respect to such deposit, nor shall Landlord be liable to
pay Tenant interest thereon. If Tenant shall fail to perform any of its obligations under the Lease, Landlord may, but shall not be obliged
to, apply the cash security deposit to the extent necessary to cure Tenant&rsquo;s failure. After any such application by Landlord of
the Letter of Credit or cash security deposit, as the case may be, Tenant shall reinstate the Letter of Credit to the amount originally
required to be maintained under the Lease, upon demand. Provided that Tenant is not then in default under the Lease, and no condition
exists or event has occurred which after the expiration of any applicable notice or cure period would constitute such a default, within
thirty (30) days after the expiration or sooner termination of the Term the Letter of Credit and any cash security deposit, to the extent
not applied, shall be returned to the Tenant, without interest.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of a sale of the Buildings or lease, conveyance or transfer of the Buildings, Landlord shall transfer the Letter of Credit
or cash security deposit to the transferee. Upon such transfer, the transferring Landlord shall be released by Tenant from all liability
for the return of such security, and Tenant agrees to look to the transferee solely for the return of said security. The provisions hereof
shall apply to every transfer or assignment made of the security to such a transferee. Tenant further covenants that it will not assign
or encumber or attempt to assign or encumber the Letter of Credit or the monies deposited herein as security, and that neither Landlord
nor its successors or assigns shall be bound by any assignment, encumbrance, attempted assignment or attempted encumbrance.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Tenant is hereby granted the option, to be exercised as hereinafter provided, to extend the term of this Lease for two (2) successive
periods of five (5) years each following the Initial Term set forth in Article 1 (each such period being herein referred to as an &quot;<U>Extension
Term</U>&quot;) upon condition that at the date of exercise with respect to, and at the date or commencement of each, such Extension
Term there is no default by Tenant in the performance of any of its obligations under this Lease. Such periods shall be consecutively
successive (Initial Term and Extension Term, collectively referred to as &ldquo;<U>Term</U>&rdquo;).</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Extension Term shall be upon the same terms and conditions as provided in this Lease for the Initial Term, unless specifically provided
otherwise, except there shall be no privilege to extend the term of this Lease for any period or time beyond the expiration of the last
Extension Term above specified, and noting, for the avoidance of doubt, that the Fixed Rent during each year shall continue to adjust
as set forth in Section 1.06.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">1.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Tenant, if it elects to exercise its option to renew, shall do so by written notice delivered to Landlord at least nine (9) months prior
to the date or expiration of the then current term. Upon such exercise this Lease shall be deemed to be extended without the execution
or any further lease or other instrument.</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>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 2</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Use</U></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: left; text-indent: 1in">2.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Premises shall be used for the following, but for no other purpose: operation of a blockchain data processing software and hardware center
(&ldquo;<U>Data Center</U>&rdquo;), office use related to the Data Center, and a technology repair facility related to the Data Center,
all strictly in accordance with current governmental laws and regulations as of the date hereof and throughout the Term of the Lease
(hereinafter &ldquo;<U>Use</U>&rdquo;).</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">2.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Premises shall be used and occupied for the sole purpose of the Use. If Tenant maintains the same Use, but desires to change its operations
in a manner that could impact the environment or any discharge or emission therefrom, or require an environmental permit or approval,
the Tenant shall obtain Landlord&rsquo;s advance written consent to any such proposed change prior to implementation which consent shall
not be unreasonably withheld or delayed. The Tenant will cooperate with Landlord, at no material cost to Tenant, with respect to Tenant&rsquo;s
power consumption at the facility and the potential expansion, maintenance, replacement or reorganization of the PUN or Landlord&rsquo;s
PUN Equipment. For the avoidance of doubt, any downtime of Tenant&rsquo;s operations incurred by Tenant during the work as described
in this Section 2.02 shall not be considered a cost to the Tenant for the purposes of this section. Landlord will provide Tenant reasonable
notice of any potential expansion, maintenance, replacement or reorganization of the PUN or Landlord&rsquo;s PUN Equipment and the parties
will work together to seek to reasonably minimize the disruption of the delivery of electricity during such work. Tenant shall not do
or permit anything to be done in or about the Premises which will cause the Premises to be used for any unlawful purpose. Tenant shall
not do, permit or suffer in, on, or about the Premises, the commission of any waste or nuisance in any material respect. Tenant shall
not in the reasonable judgment of Landlord impair, interfere with or otherwise diminish the quality of the Premises. During the Term
of this Lease, Tenant shall at all times comply with the Excavation Restriction defined below, and shall be responsible for any costs,
fees or damage incurred by Landlord in breach of such restriction. For purposes of the Lease, &ldquo;<U>Excavation Restriction</U>&rdquo;
means Tenant shall not construct, drill, core, excavate, or disturb the subsurface of the Premises, including without limitation any
buildings within the Premises, without the prior written consent of Landlord.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">2.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall not use or permit the use of the Premises or any part thereof in any way which would violate any of the covenants, agreements,
terms, provisions and conditions of this Lease or of any current applicable restrictions of record recorded against the Land in Milam
County, Texas, or for any unlawful purposes, or in any unlawful manner or in violation of governmental regulations for the Premises.</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>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 3</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Condition of the Premises</U></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: left; text-indent: 1in">3.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to Section 1.05, Tenant may immediately occupy the Buildings set forth in Paragraph 1 of <U>Exhibit C</U> attached to this Lease. Landlord
will, at Landlord&rsquo;s cost and sole discretion, complete certain work at the Premises in accordance with Paragraphs 2 and 3 of <U>Exhibit
C</U> prior to the time the Tenant may occupy the remaining Buildings (collectively &ldquo;<U>Landlord&rsquo;s Work</U>&rdquo;). Except
as set forth in <U>Exhibit C </U>and this Lease, Landlord shall not be obligated or required to do any additional modification or maintenance
to the Premises during the Term of this Lease. Except as provided for herein, Landlord shall not be responsible for any delays in completing
Landlord&rsquo;s Work and Tenant hereby releases Landlord from any Losses resulting from such delays including direct, indirect, punitive,
consequential, special or incidental damages. Prior to the Commencement Date, upon prior written approval of Landlord, such consent not
to be unreasonably withheld, delayed or conditioned, Tenant may access certain areas of the Premises to begin staging, prepping and planning
activities related to Tenant&rsquo;s Use.</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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event Landlord is delayed or unable to complete Landlord&rsquo;s Work in accordance with Article 3.01(a), and <U>Exhibit C</U> prior
to the end of the First Rent Period, Tenant shall continue paying Fixed Rent at the Initial Rent rate until such time as Landlord&rsquo;s
Work is complete.</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: left; text-indent: 1in">3.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
accordance with Article 12, all installations, facilities, materials and work which may be undertaken by or for the account of Tenant
to prepare, equip, decorate and furnish the Premises for Tenant&rsquo;s occupancy and Use, shall be completed by Tenant at Tenant&rsquo;s
expense (&ldquo;<U>Tenant&rsquo;s Work</U>&rdquo;). Tenant may complete Tenant&rsquo;s Work, at Tenant&rsquo;s sole cost and expense;
however, Tenant&rsquo;s Work must be coordinated in advance and approved by Landlord in writing. Tenant will submit written plans and
specifications thirty (30) days in advance of such activity to Landlord. Such notice will contain sufficient detail of Tenant&rsquo;s
Work. Tenant will be responsible for all permits and approvals related to Tenant&rsquo;s Work. Notwithstanding the above, Tenant&rsquo;s
Work described on <U>Exhibit D</U> is hereby approved. This Lease is contingent on Tenant obtaining, at its own cost and expense, all
permits, licenses and consents necessary for its Use of the Premises. Provided it is at no cost or expense to Landlord, Landlord shall
assist Tenant in obtaining all required permits, licenses and consents by providing information, documents and assistance as necessary
in order for Tenant to obtain such permits. It is Tenant&rsquo;s responsibility to determine what permits are necessary for its Use and
operations at the site.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">3.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Representation or Warranties.</U> TENANT SPECIFICALLY ACKNOWLEDGES THAT TENANT IS LEASING THE PROPERTY ON AN &quot;AS IS, WITH ALL FAULTS&quot;
BASIS AND THAT TENANT WILL HAVE AN OPPORTUNITY TO INSPECT THE PREMISES PRIOR TO THE COMMENCEMENT DATE AND THAT TENANT IS NOT RELYING
ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, FROM LANDLORD, ITS AGENTS, OR REPRESENTATIVES AS TO
ANY MATTERS CONCERNING THE PREMISES, INCLUDING WITHOUT LIMITATION: </B>(i) the quality, nature, adequacy and physical condition of the
Premises and any improvements thereon, including, but not limited to, the structural elements, foundations, roofs, floors, appurtenances,
access, landscaping, parking facilities, and the electrical, mechanical, HVAC, plumbing, sewage, and utility systems, facilities and
appliances; (ii) the quality, nature, adequacy, and physical condition of soils, geology and any groundwater; (iii) the existence, quality,
nature and adequacy of any utilities available to the Premises; (iv) the Premises&rsquo; use, habitability, merchantability, or fitness,
suitability, value, or adequacy for any particular purpose; (v) the zoning or other legal status of the Premises or any other public
or private restrictions on use of the Premises; (vi) the compliance of the Premises or its operation with any applicable codes, laws,
permits, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or
of any other person or entity; (vii) the presence or removal of Hazardous Substances in, on, under, or about the Premises or the adjoining
or neighboring properties; (viii) the quality of any labor and materials used in any improvements on the Premises; (ix) the condition
of title to the Premises; (x) the leases, service contracts, or other agreements affecting the Premises; and (xi) the economics of the
operation of the Premises for any purpose.</P>

<P STYLE="text-align: left; 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: left"><B>LANDLORD HEREBY DISCLAIMS ANY AND ALL WARRANTIES
OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED REGARDING THE PREMISES.</B></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 4</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>When Premises Ready for
Occupancy</U></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: left; text-indent: 1in">4.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Building will be ready for occupancy by Tenant in accordance with <U>Exhibit C</U>, or as otherwise agreed by the Parties, including
partial occupancies.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">4.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the occurrence of the conditions set forth in Section 4.01 hereof, and thereby the making of the Premises ready for occupancy, shall
be delayed due to any act or omission of Tenant or any of its employees, agents or contractors; (each, a &ldquo;<U>Tenant Delay</U>&rdquo;),
and such delay shall have been unavoidable by Landlord in the exercise of reasonable diligence and prudence, the Premises shall be deemed
ready for occupancy on the date when they would have been ready but for such delay.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">4.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
and when Tenant shall take actual possession of the Buildings, it shall be conclusively presumed that the same were in satisfactory condition
as of the date of such taking of possession.</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>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 5</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Taxes</U></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: left; text-indent: 1in">5.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall, as additional rent, pay and discharge punctually when billed and before any fine, penalty, interest or cost may be added, 100%
percent (&ldquo;<U>Tenant&rsquo;s Share</U>&rdquo;), of all taxes, assessments, payments in lieu of tax, water and sewer rents, rates
and charges, occupancy or rent tax, levies, license and permit fees and all other governmental impositions and charges of every kind
and nature whatsoever, extraordinary as well as ordinary, foreseen and unforeseen, which shall be charged, levied, laid, assessed, imposed
upon, become due and payable out of or in respect of, or become liens upon the whole or any part of the Premises designated for Tenant&rsquo;s
exclusive use, including the Land, Buildings, improvements or Tenant&rsquo;s personal property, together with all interest and penalties,
under all present or future laws, ordinances, requirements, orders, directives, rules or regulations or the federal, state, county, and
city governments and of all other governmental authorities whatsoever (the &ldquo;<U>Taxes</U>&rdquo;). Tenant shall not directly contact
the local, or state taxing authority without the prior consent of Landlord. Tenant shall not be responsible for any item that would otherwise
be &ldquo;Taxes&rdquo; hereunder, but that is being assessed for items occurring outside the lease Term; it being the intent of the parties
that the phrase &ldquo;Taxes&rdquo; which are payable by Tenant should be directly tied to Tenant&rsquo;s lease of the Premises and the
time periods applicable thereto.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
for purposes of ad valorem tax purposes, the Premises are rendered by applicable taxing authority in connection with, or as part of,
other real property owned by Landlord, Tenant&rsquo;s Share of Taxes shall be reasonably apportioned by Landlord so that all Taxes related
to the Premises are paid by Tenant. Landlord may, at Landlord&rsquo;s discretion, request that applicable taxing authority render the
Premises separately from the balance of the Alcoa Property as a means of determining Taxes attributable to the Premises and payable by
Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">5.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
in this Lease otherwise contained shall require Tenant to pay any of the following taxes or governmental impositions which shall be imposed
against Landlord by any governmental authority, whether federal, state, county, city, municipal, or otherwise, to wit: (i) any estate,
inheritance, devolution, succession, transfer, legacy or gift tax, which may be imposed upon or with respect to any transfer of any interest
of Landlord in the Premises; (ii) any capital stock tax or other tax imposed against Landlord for the privilege of franchise of doing
business as a corporation or for the transfer of any stock in such corporation or as a partnership, general or limited, or any other
entity; (iii) any income tax levied upon or against the income of Landlord, including any rental income derived by Landlord from the
Premises; (iv) in the event that Landlord or any agent of Landlord shall occupy space in the Premises for the conduct of Landlord&rsquo;s
business, any occupational, license, or other tax imposed with respect to such occupancy or the conduct of Landlord&rsquo;s business
in such space; (v) any gross receipts tax levied against rent or other income of Landlord.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">5.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall be deemed to have complied with the covenants of this Article if the Taxes are paid before any fine, penalty, interest or cost
may be added to them. Upon payment, Tenant shall produce and exhibit to Landlord satisfactory evidence of payment without Landlord&rsquo;s
request.</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>

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Services or Utilities&nbsp;</U></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: left; text-indent: 1in">6.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall pay and discharge punctually all charges for water and any and all other services or utilities furnished to the Premises, the improvements,
or the occupants of them, including but not limited to: (i) construction and capital improvements of any additional infrastructure or
utilities; (ii) Buildings repairs; (iii) installation of additional equipment; (iv) any permitting required by law with respect to the
Use of the Premises by Tenant; (v) contracting with power supplier(s); or (vi) Use of the Premises by Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">6.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
during the <U>Preliminary Period</U> as provided for in Section 6.11 of this Lease, Tenant shall arrange for and pay for all electricity
and natural gas consumed at the Premises and Tenant will open an account with the provider and pay bills for usage on the Premises directly.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the Expiration Date or other termination of this Lease shall be a day other than the last day of a year used for calculations
hereunder, then in such event, in applying the provisions of this Article with respect to any year in which such event shall have occurred,
appropriate adjustments shall be made to reflect the occurrence of such event on a basis consistent with the principles underlying the
provisions of this Article taking into consideration the portion of such year which shall have elapsed prior to the date of such event.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments
shall be made pursuant to this Article notwithstanding the fact that a utility statement is furnished to Tenant after the expiration
of the Term of this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">6.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall not be liable in any way (other than the willful misconduct or gross negligence of Landlord, its employees or agents) to Tenant
for any failure or defect in supply or character of electric current or natural gas furnished to the Premises.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">6.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
during the <U>Preliminary Period</U> as provided for in Section 6.11 of this Lease, Landlord will reserve for Tenant, and Tenant shall
pay for as part of the rental payment, as a condition and incident of tenancy, potable water and sanitary waste capacity (including the
water itself) based upon the number of Tenant&rsquo;s employees as shown in Table 6.04 below:</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Table 6.04</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total
    Number of Employees</B></FONT></TD>
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Potable
    Water and Sanitary Waste</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Capacity
    Reservation Rent</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center">[***]</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center">[***]</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center">[***]</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center">[***]</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center">[***]</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
    additional increment of [***]</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">[***] increase</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</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; text-align: left">Potable Water and Sanitary Waste Reservation Rent
will increase annually by CPI as defined in Section 1.06(b). Potable water and sanitary wastes capacity supplied under this Section 6.04
shall be explicitly for <B><I><U>domestic uses only </U></I></B>and may not be used for any process purpose or process consumption. Tenant
shall have access to potable water and sanitary waste capacity on the Land or in the Buildings on an &ldquo;as is, where is&rdquo; basis.
Reservation Rent will be based upon the maximum number of Tenant&rsquo;s employees at the beginning of each month.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">6.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
during the Preliminary Period, and as provided for in Section 6.11 of this Lease, Landlord will reserve for Tenant, and Tenant shall
pay for as part of the rental payment, as a condition and incident of tenancy, non-potable treated water, untreated groundwater, or untreated
surface water for process purposes or process consumption (including the water itself) based upon reserved capacity as defined in Table
6.05 below:</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>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Table 6.05</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Reserved
    Capacity</B></FONT></TD>
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Non-Potable
    Treated Water,</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Untreated
    Groundwater, and</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Untreated
    Surface Water</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Reservation
    Rent</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-Potable
    Treated Water</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Untreated
    Groundwater</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Untreated
    Surface Water</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</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; text-align: left">Non-Potable Treated Water, Untreated Groundwater,
and Untreated Surface Water Reservation Rent will increase annually by CPI as defined in Section 1.06(b). Tenant shall have access to
Non-Potable Treated Water, Untreated Groundwater, and Untreated Surface Water on the Land or in the Buildings on an &ldquo;as is, where
is&rdquo; basis only. Tenant will be responsible for any additional treatment or delivery to Tenant&rsquo;s facilities. Delivery of Non-Potable
Treated Water, Untreated Groundwater, and Untreated Surface Water Reservation Rent will be based upon the Tenant&rsquo;s declaration
of use at the beginning of each calendar month. In the event that the Tenant desires additional reservation more than the monthly declared
amount, Landlord will determine at it sole discretion if the utility is available. Any amount in excess of the declared utility amount
will be billed at ten times the reserved rate. The Parties agree that the additional amount charged for the excess usage is not a penalty
but liquidated damages for the unanticipated costs and adverse conditions imposed upon Landlord by the excess demand placed by the excess
usage upon the facilities of Landlord, short-term and long-term, including physical, inchoate, administrative, operational, and transactional
costs or other adverse impacts on Landlord. Tenant may not discharge or blowdown Non-Potable Treated Water, Untreated Groundwater or
Untreated Surface Water from Tenant&rsquo;s facilities at any time.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">6.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
during the <U>Preliminary Period</U> as provided for in Section 6.11 of this Lease, Landlord will reserve for Tenant, and Tenant shall
pay for as part of the Fixed Rent payment, as a condition and incident of tenancy, Tenant&rsquo;s Share of the Total Electric Capacity
utilizing the Landlord&rsquo;s PUN Equipment electric delivery facilities which are interconnected to the local electric transmission
and distribution service provider (but not including the electricity itself, which Tenant shall separately purchase as provided in Section
6.02(a)). Tenant shall have access to the Premises and Tenant&rsquo;s Share of the Total Electric Capacity on the Land or in the Buildings
on an &ldquo;as is, where is&rdquo; basis only. Tenant will be responsible for any additional electric delivery capacity necessary to
deliver electricity to Tenant&rsquo;s facilities in excess of the <U>Tenant&rsquo;s Share of Total Electric Capacity </U>over the Landlord&rsquo;s
PUN Equipment. As set forth in Section 6.12 of this Lease, Tenant shall be responsible for the operation, maintenance, repair, and replacement
of the PUN electric delivery facilities set forth in <U>Exhibit A-3</U>. Tenant acknowledges and agrees that: the Fixed Rent would be
significantly higher but for Section 6.12; the electric power consumption associated with Tenant&rsquo;s operations involves unusual
circumstances, usage, or load characteristics; and it is prudent for the Parties to have Tenant accept such responsibility under Section
6.12 because of Tenant&rsquo;s specialized knowledge of the power consumption associated with Tenant&rsquo;s operations.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">6.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
and Tenant, on or before November 1, 2018, shall agree on the capacity to be provided as contemplated by Sections 6.04, 6.05, and 6.06
(&ldquo;<U>Landlord Capacity</U>&rdquo;) but Landlord does not guarantee or warrant that Landlord Capacity will not fail or be interrupted
or that the quality of same will not vary or fluctuate. Tenant is responsible for installing and maintaining such devices and equipment
as may be necessary or reasonable to protect Tenant&rsquo;s equipment or processes during abnormal events regarding Landlord Capacity.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall make reasonable efforts to re-establish Landlord Capacity with minimum of delay when failures, interruptions, or quality variations
or fluctuations occur. However, Landlord shall not be liable for direct or consequential damages resulting from failures, interruptions,
or quality variations or fluctuations occasioned by causes reasonably beyond the control of Landlord, including, but not limited to,
acts of God or public enemy, sabotage and/or vandalism, accidents, fire, explosion, labor troubles, strikes, order of any court or judge
granted in any bona fide adverse legal proceedings or action, or any order of any commission, tribunal or governmental authority having
jurisdiction or, without limitation by the preceding enumeration, any other act or thing due to causes beyond Landlord&rsquo;s reasonable
control, or to the negligence of Landlord, its employees, or contractors, whether sole or joint and concurrent with the negligence of
Tenant or third parties, except to the extent the damages are occasioned by the gross negligence or willful misconduct of Landlord.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
claims resulting from failures, interruptions or quality variations or fluctuations occasioned in whole or in part by gross negligence
or willful misconduct of Landlord or it agents, Landlord shall be liable only for that portion of the damages arising from personal injury,
death of persons, or costs of necessary repairs to or replacement of equipment proximately caused by the grossly negligent acts of Landlord
or it agents. Landlord shall not be liable in any event for consequential damage.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
may, without notice (however, Landlord will attempt to provide as much notice as reasonably practical in the circumstances to Tenant)
and without liability to Tenant, interrupt Landlord Capacity to Tenant when in Landlord&rsquo;s sole judgement such interruption: (i)
will prevent or alleviate an emergency threatening to disrupt the operation of Landlord&rsquo;s facilities that are utilized in the provision
of the Landlord Capacity; or (ii) will lessen or remove possible danger to life or property; or (iii) will aid in the restoration of
Landlord Capacity; or (iv) it is required to make necessary repairs to or changes in Landlord&rsquo;s facilities that are utilized in
the provision of the Landlord Capacity. In the event of a nonemergency situation, Landlord will provide Tenant with at least 5 calendar
days notice prior to interrupting Landlord Capacity to Tenant if such disturbance is within Landlord&rsquo;s control.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall install, operate, and maintain such protective equipment and devices, and implement such procedures and practices, as may be reasonable
or necessary to protect Tenant&rsquo;s property, equipment, processes, or activities during occurrences of abnormal Landlord Capacity.
Tenant shall maintain such equipment and devices in good operating condition, and otherwise install, operate, and maintain Tenant&rsquo;s
property and equipment in an entirely safe and reasonably efficient manner and in full compliance with applicable law. Landlord neither
assumes nor accepts any duty or responsibility for the inspection of the Tenant&rsquo;s apparatus, machinery, equipment, or operations
and shall not be responsible therefor, nor does Landlord accept any liability due to the initiation or continuation of Landlord Capacity
to Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
assumes full responsibility for the Landlord Capacity received and used by Tenant upon the Premises, and will protect, indemnify, and
save Landlord harmless from all claims for injury, including death, or damage to persons or property occurring upon the Premises, even
if due to Landlord&rsquo;s negligence, whether sole or joint and concurrent with the negligence of Tenant or third parties, occasioned
by such Landlord Capacity, except to the extent of (x) claims resulting from the gross negligence or willful misconduct of Landlord or
(y) claims caused by another tenant of Landlord or any persons under the control of such tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When
an interruption in Landlord Capacity occurs, it shall be the responsibility of the Tenant to determine that the interruption is not caused
by a fault or defect in Tenant&rsquo;s property, equipment, processes, or activities before notifying Landlord of the interruption.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
Capacity will be measured as necessary by meters or monitoring equipment selected, installed, tested, owned, operated, and maintained
by Landlord. Tenant shall not take any actions that affect the accuracy of such equipment during the Term of this Lease. Landlord will
give reasonable advance notice of all tests, inspections, maintenance, or alteration of any metering and monitoring equipment to Tenant
so that representatives of Tenant may be present. Meter and monitoring records will be provided to Tenant upon its reasonable request.
Tenant may install check meters with regard to the Landlord Capacity as long as such check meter installation and operation does not
interfere with or affect the accuracy of Landlord&rsquo;s metering or monitoring equipment. Tenant will give reasonable advance notice
of all tests, inspections, maintenance, or alteration of any check metering equipment to Landlord so that representatives of Landlord
may be present. Check meter records will be provided to Landlord upon its reasonable request.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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: left; text-indent: 1in">6.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
or its successor(s) reserves the right to establish a Municipal Utility District (&ldquo;MUD&rdquo;), Municipal Management District (&ldquo;MMD&rdquo;),
or equivalent which would include the facilities and capacity subject to this Lease, provided that such MUD, MMD, or its equivalent:
(i) will not relieve Landlord from its obligation to provide the services under Sections 6.04, 6.05, and/or 6.06 unless the facilities
and capacity therefor are owned and operated by such MUD, MMD, or its equivalent; (ii) is not expected to materially increase Tenant&rsquo;s
overall costs for the type of services under Sections 6.04, 6.05, and/or 6.06 except to the extent allowed or required by applicable
law; or (iii) is not expected to materially affect the nature, quality, or reliability of the types of services under Sections 6.04,
6.05, and/or 6.06 except to the extent allowed or required by applicable law. Tenant agrees that, if such a MUD, MMD, or equivalent is
created Tenant hereby agrees to take service from such MUD, MMD, or equivalent. Tenant hereby represents, warrants, covenants, and agrees
it will exercise any election, vote, or other consent, and will take all actions necessary or appropriate, for the establishment of such
a MUD, MMD, or equivalent. The Parties recognize and agree that such a MUD, MMD, or equivalent, is allowed to and may charge rates, fares,
tolls, charges, rents, or other fees or compensation for the facilities and capacity and the Parties&rsquo; use of the facilities and
capacity that are different in structure or design from the costs incurred by Tenant under this Agreement. Sections 6.04, 6.05, 6.06,
and/or 6.07 of this Lease will terminate on the date of termination specified in notice by Landlord to Tenant after the establishment
of such a MUD, MMD, or equivalent. Notwithstanding the foregoing, and without otherwise limiting the foregoing with respect to services
under Sections 6.04 and 6.05, the Parties do not expect electric delivery capacity under Section 6.06 to be included as part of the MUD,
MMD, or equivalent but the Parties recognize and agree that it may be appropriate or advantageous to do so, and therefore inclusion of
said electric delivery capacity as part of the MUD, MMD, or equivalent may occur subject to the consent of Tenant, after review of all
applicable documentation delivered by Landlord, such consent not to be unreasonably withheld.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">6.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that regulatory requirements become applicable to the Landlord Capacity which, in the sole discretion of Landlord, require
an amendment or amendments to this Lease in order to conform the terms and conditions of this Lease to such regulatory requirements (including
but not limited to those necessary such that Landlord will not become regulated as an public utility), Landlord shall provide to Tenant
an amendment or amendments limited to that which is reasonably necessary to conform the terms and conditions of this Lease to such regulatory
requirements, and Tenant hereby represents, warrants, covenants, and agrees it will promptly execute and deliver to Landlord such amendment
or amendments when so requested by Landlord. The Parties will cooperate and work together to seek to reasonably minimize the impact of
the regulatory requirements with respect to the Parties&rsquo; operations if an amendment is required in accordance with this section.
Nothing in this Section 6.09 shall be construed to limit or prevent the Parties from mutually agreeing to include in such amendment or
amendments terms and conditions that are in addition to that which is necessary to conform the terms and conditions of this Lease to
such regulatory requirements.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
understands that Landlord is not a public utility, that Landlord does not provide utilities to the public, and that Landlord is legally
allowed to provide certain utilities to its tenants but only in connection with and incidental to the lease of the Premises, as long
as such services are not resold to or used by others. Both Parties agree that as a result of this Lease Landlord does not provide utilities
to the public, and Landlord Capacity is only being made available pursuant to this Lease as an incident thereof. The Landlord Capacity
may not be resold to or used by others, and Tenant hereby represents, warrants, covenants, and agrees it will not resell the Landlord
Capacity or allow use of Landlord Capacity by others. Tenant further represents, warrants, covenants, and agrees that the reservation
rents for the Landlord Capacity provided under Section 6.04 is included in the total rent payable based upon the capacity provided, and
are not separate or additional service fees for that which is actually used by Tenant.</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; text-align: left; text-indent: 1in">6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the Preliminary Period, which shall run from the Commencement Date until December 31, 2018 unless Tenant provides Landlord with ninety
(90) days written notice that Tenant elects to shorten the Preliminary Period to a date earlier than December 31, 2018, the following
provisions will apply with regard to electricity, potable water, sanitary waste, and non-potable treated water:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
will supply to Tenant, and Tenant shall pay for as part of the rental payment, as a condition and incident of tenancy, electricity for
use in Tenant&rsquo;s operations on the Premises in an amount not to exceed 1.0 mega-Watts at any time. Landlord will charge Tenant and
Tenant will pay to Landlord an amount for the electricity equal to 110% of the costs to Landlord for its purchase of the electricity
used by Tenant (the &ldquo;<U>Preliminary Period Electricity Charges</U>&rdquo;). The Preliminary Period Electricity Charges shall encompass
all charges, fees, or rates, however denominated, to Landlord for electricity usage and delivery, whether charged on a per kilo-Watt
(or mega-Watt), kilo-Var (or mega-Var), kilo-Watt-hour (or mega-Watt-hour), meter, time period, or other basis, attributable on a cost-causation
basis to the electricity used by Tenant, including, without limitation, the costs to Landlord from the entity selling and supplying electric
energy to Landlord and from the transmission and distribution service provider or providers delivering electric energy to Landlord, which
shall further include the allocable cost associated with transmission and/or distribution demand ratchets that are caused by Tenant&rsquo;s
load, including those ratchets which continue beyond the Preliminary Period for the effective billing periods of the established ratchets.
Landlord will invoice Tenant for such Preliminary Period Electricity Charges within a reasonable time after Landlord incurs such costs,
and Tenant shall pay Landlord within <U>ten (10)</U> days of the date of said invoice. Tenant hereby represents, warrants, covenants,
and agrees it will not resell the electricity or allow use of the electricity by others. The Preliminary Period Electricity Charge shall
be considered additional rent, and the billing, payment, and other terms and conditions set forth in Section 1.06(c) and Sections 1.07
through 1.13 shall apply to the Preliminary Period Electricity Charge.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
will reserve for Tenant, and Tenant shall pay for as part of the rental payment, as a condition and incident of tenancy, potable water
and sanitary waste capacity (including the water itself), and non-potable treated water, on the same terms, conditions, and limitations
as in Section 6.04 and Section 6.05, except that the quantity of potable water and non-potable treated water shall not to exceed [***]
gallons per day, and in lieu of the Potable Water and Sanitary Waste Reservation Rent and the Non-Potable Treated Water, Untreated Groundwater,
and Untreated Surface Water Reservation Rent, for a fixed fee of $[***] per month (the &ldquo;<U>Preliminary Period Water Rent</U>&rdquo;).
Tenant hereby represents, warrants, covenants, and agrees it will not resell or allow use by others of the potable water and sanitary
waste capacity (including the water itself) and non-potable treated water provided to Tenant during the Preliminary Period. The Preliminary
Period Water Rent shall be considered additional rent, and the billing, payment, and other terms and conditions set forth in Section
1.06(c) and Sections 1.07 through 1.13 shall apply to the Preliminary Period Water Rent.</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; text-align: left; text-indent: 1in">6.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsequent
to the Preliminary Period, Tenant will be responsible for operating, maintaining, repairing, and replacing any of the electric delivery
facilities designated for Tenant&rsquo;s exclusive use as set forth in <U>Exhibit A-3</U>, including the cost thereof, on the following
terms and conditions:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall perform such operations, maintenance, repairs, and replacements, including preventative maintenance, in a safe, prudent, professional,
and workmanlike manner, and will maintain such electric delivery facilities in a safe, adequate, efficient, and reasonable condition,
in accordance with any applicable safety codes and with &ldquo;<U>Good Electric Utility Practice</U>.&rdquo; Good Electric Utility Practice
shall mean, for purposes of this Section 6.12(a), any of the practices, methods, and acts engaged in or approved by a significant portion
of the electric utility industry in the United States of America during the relevant time period, or any of the practices, methods, and
acts that, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected
to accomplish the desired result at a reasonable cost consistent with good business practices, reliability, safety, and expedition. Good
Electric Utility Practice is not intended to be limited to the optimum practice, method, or act, to the exclusion of all others, but
rather is intended to include acceptable practices, methods, and acts generally accepted in the region. Tenant shall only utilize employees
or outside contractors with demonstrable experience operating, maintaining, repairing, and replacing electric delivery facilities. In
connection with such employees or outside contractors, Tenant agrees to comply with all federal, state and local laws, ordinances, resolutions,
rules, regulations and executive orders pertaining to unlawful discrimination on account of race, color, creed, religion, national origin,
sex, marital status, status with regard to public assistance, disability or age.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall bear in full the cost of such operations, maintenance, repairs, and replacements, including but not limited to preventative maintenance,
rental of equipment, insurance, taxes, personnel or contractors required to supervise, implement, and accomplish all of the foregoing.
Such operations, maintenance, repairs, and replacements shall not give rise to any ownership rights by Tenant in the electric delivery
facilities, and Tenant hereby expressly assigns to Landlord any and all right, title and interest of Tenant now or hereafter arising
in or to any material, supplies, and equipment utilized in operating, maintaining, repairing, and replacing any of such electric delivery
facilities. Tenant will indemnify, hold harmless and defend Landlord, its affiliates, directors, officers, partners, agents, and employees
from and against any and all loss, liability, damage, cost or expense, including damage and liability for bodily injury to or death of
persons or damage to property of persons caused by Tenant, an affiliate of Tenant, or any representative of Tenant during its operating,
maintaining, repairing, and replacing any of such electric delivery facilities. Tenant shall maintain and preserve during the Term of
this Lease all material documentation regarding its operating, maintaining, repairing, and replacing any of such electric delivery facilities,
and make that documentation available for Landlord&rsquo;s inspection upon Landlord&rsquo;s request.</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; text-align: left; text-indent: 1in">6.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Landlord&rsquo;s
Step-In-Rights</U>. Tenant acknowledges and recognizes that its failure to comply with the provisions of Section 6.12 can have significant
adverse effects on Landlord and other tenants of Landlord. In addition to any remedies provided in this Lease, including but not limited
to Article 25, or other remedies provided in law or equity or by statute, the following provisions shall apply with regard to any failure
of Tenant to comply with the provisions of Section 6.12:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the occurrence of a failure of Tenant to comply with the provisions in Section 6.12 (such failure being a &ldquo;Section 6.12 Breach&rdquo;),
then immediately upon Tenant becoming or being made aware of the occurrence of a Section 6.12 Breach ( if Landlord is aware of such breach,
Landlord will attempt to provide as much notice as reasonably practical in the circumstances to Tenant), Tenant shall attempt in good
faith to cure such failure immediately if necessary to allow continued delivery of electricity by the electric delivery facilities set
forth in <U>Exhibit A-3</U> and as promptly as possible in all other circumstances.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Lease, (i) if an emergency situation occurs Landlord shall have the right, but not the obligation,
to immediately take any action or actions that Landlord, in its sole and absolute discretion, believes is necessary as a result of Tenant&rsquo;s
failure relating to operating, maintaining, repairing, and replacing any of the electric delivery facilities set forth in <U>Exhibit
A-3</U>, or (ii) in a nonemergency situation, if Tenant ceases exercising good faith efforts to cure such failure or, in any event fails
to cure such failure promptly (not to exceed thirty (30) days), Landlord, in its sole and absolute discretion, may take any action that
Landlord believes is necessary as a result of Tenant&rsquo;s failure (such rights, the &ldquo;<U>Step-In Rights</U>&rdquo;).</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
exercise of the Step-In Rights, Tenant will be responsible for the costs of the action or actions taken by Landlord. Tenant shall reimburse
Landlord for such costs within fourteen (14) days after receiving an invoice from Landlord the amount of such costs along with reasonably
detailed supporting documentation with respect to such costs. The Parties agree that the costs for which Tenant shall reimburse Landlord
include all materials, supplies, equipment (including but not limited to switches, circuit control devices, wires, transformers, meters
and metering equipment, protective equipment, distribution lines, and distribution poles), contractor&rsquo;s fees and charges, and other
outside services incurred by Landlord in taking such action or actions, with all of the foregoing multiplied by [***] to compensate Landlord,
as liquidated damages and not as a penalty, for Landlord&rsquo;s payroll and payroll related expenses, overhead, engineering, administrative,
and other internal costs incurred by Landlord in association with the action or actions taken in the exercise of the Step-In Rights.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
exercise of the Step-In Rights, Tenant will remain be responsible for, and will not be relieved of its obligation for, operating, maintaining,
repairing, and replacing any of the electric delivery facilities set forth in <U>Exhibit A-3</U>, including the cost thereof.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Party may enter any agreement that alters, affects or limits the Step-In Rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Landlord exercises its Step-In Rights as a result of the occurrence of a default, any such Step-In Rights will expire
only upon the sole discretion of Landlord.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
non-emergency situations, the parties will work together to seek to reasonably minimize the dispute and disruption of the Landlord&rsquo;s
and Tenant&rsquo;s operations during such step-in rights as described herein.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 7</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Net Lease</U></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: left; text-indent: 1in">7.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall pay all costs, charges, taxes assessments, and other expenses of every character, foreseen or unforeseen, ordinary or extraordinary,
for the payment of which Landlord or Tenant is or shall become liable by reason of its respective estate, right, title or interest in
the Premises or any part thereof, or which are connected with or arise out of the possession, use, occupancy, maintenance, addition to,
repair construction or any party thereof, including without limitation those specifically referred to in this Lease. All sums payable
by Tenant hereunder shall be paid without counterclaim, setoff, deduction, or defense and without abatement, suspension, deferment, diminution
or reduction, except as expressly provided herein.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 8</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Repairs and Maintenance</U></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: left; text-indent: 1in">8.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the Term of the Lease, Tenant, at its expense, shall maintain the Premises in good condition and promptly make such repairs and replacements,
ordinary or extraordinary, interior or exterior, structural, mechanical, or otherwise, in and about the Premises and the Buildings. Except
for the utility infrastructure included as part of the Landlord Capacity, Tenant shall be responsible (and Landlord shall not be responsible)
for the maintenance, repair and replacement of (i) all plumbing, pipes and related equipment to the extent that such equipment is serving
the Premises; (ii) all electrical facilities, fixtures, wiring, and other related equipment serving the Premises; and (iii) the Systems
(as defined in Section 8.02). Tenant shall keep and maintain all of the structural portions of the Buildings, its common areas, and its
fixtures, appurtenances, systems and facilities serving the Premises in clean, safe and working order, condition and repair, structural
and otherwise, interior and exterior, as and when needed in or about the Premises. Tenant shall also be responsible for the installation,
maintenance, replacement and repair of any fire protection systems installed by or required by Tenant because of Tenant&rsquo;s specific
Use or unique equipment. Except for the utility infrastructure included as Landlord Capacity, Tenant shall also maintain all utility
infrastructure included within the Premises in good condition. In accordance with Article 3.03, Landlord is providing the Premises on
an <B>AS IS WHERE IS BASIS</B>. Landlord will not be responsible to provide any capital improvements necessary due to any Tenant specific
business and Tenant&rsquo;s occupancy and use of the Premises not outlined in Article 2, in which case Tenant shall pay for the same.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">8.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Premises contains heating, ventilating and air-conditioning systems (the &ldquo;<U>Systems</U>&rdquo;) which shall be maintained by Tenant.
The Systems operation will be controlled by Tenant and Landlord shall have no responsibility therefor. In furtherance of Article 6.02
hereof, all electric power and natural gas for the operation of the Systems shall be provided by, and at the expense of, Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">8.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Use
of the Premises, or any part thereof, in a manner exceeding the design conditions thereof (including occupancy and connected electrical
load) or rearrangement of partitioning which interferes with normal operation of services in the Premises, or the use of computer or
data processing machines, may require changes in the infrastructure servicing the Premises. Such changes so occasioned shall be made
by</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenant, at its expense, as Tenant&rsquo;s Work pursuant
to Article 12.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">8.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall have no liability to Tenant by reason of any inconvenience, annoyance, interruption or injury to business arising from Landlord&rsquo;s
making any repairs or changes which Landlord is required or permitted by this Lease, or required by law, to make in or to any portion
of the Buildings or the Premises, or in or to the fixtures, equipment or appurtenances of the Buildings or the Premises, except to the
extent of gross negligence or willful misconduct by the Landlord. The Tenant shall be responsible for any damage to or loss of Landlord&rsquo;s
property located on the Premises, caused by or rising out of the acts, omissions, or negligence of the Tenant, or the misuse or unauthorized
use of Landlord&rsquo;s property by the Tenant. The cost of making good such loss and/or repairing of such damage shall be paid for by
the Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">8.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
hereby acknowledges that Landlord shall have no obligation whatsoever to provide guard service or other security measures for the benefit
of the Premises. Tenant assumes all responsibility for the protection of Tenant, its agents, and invitees and the property of Tenant
and of Tenant&rsquo;s agents and invitees from acts of third parties and shall provide for guard service or other security measures for
the Premises. Landlord currently provides security at the front gate and Tenant will reimburse Landlord for these services in accordance
with Article 39.</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>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 9</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Compliance with Laws</U></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: left; text-indent: 1in">9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant,
at Tenant&rsquo;s expense, shall comply with all laws and ordinances, and all rules, orders and regulations of all governmental authorities
and of all insurance bodies, at any time duly issued or in force, applicable to the Premises or any part thereof or to Tenant&rsquo;s
use thereof.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">9.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall comply with all governmental laws, ordinances and regulations applicable to the use of the Premises and its occupancy and shall
promptly comply with all governmental orders and directions for the correction, prevention and abatement of any violations in or upon,
or in connection with, the Premises, all at Tenant&rsquo;s sole expense. Tenant shall pay and be responsible for any capital costs in
order to bring the Premises into compliance with any applicable statutes, ordinances, rules, regulations, orders, covenants or restrictions
of record. Landlord shall not be required to pay for any capital improvements in order to comply with the law or other legal requirements.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">9.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant,
at its sole cost and expense, shall promptly comply with all present and future laws, ordinances, requirements, orders, directives, rules
and regulations of all federal, state, county, city, and town governments and of all other governmental authorities, departments, boards
and officers, and all orders, rules and regulations of the National Board of Fire Underwriters, the Texas State Fire Marshall, or any
other body or bodies which may exercise similar functions, foreseen and unforeseen, ordinary and extraordinary; applicable to the Premises,
Buildings or the improvements or any part of them or to their use, whether in force at the commencement of the Term of this Lease or
passed, enacted or directed in the future, whether or not such requirements are actually imposed upon Landlord, and whether or not compliance
shall require structural changes (collectively in this article &ldquo;the requirements&rdquo;). Tenant shall pay all costs, expenses;
liabilities, losses, damages, fines, penalties, claims and demands, including reasonable counsel fees (collectively &ldquo;the costs&rdquo;),
that may in any manner arise from or be imposed because of the failure of Tenant to comply with this Article and shall indemnify, hold
harmless and defend Landlord of and from the costs. Tenant shall comply with the requirements of all policies of commercial general liability,
casualty and all other policies of insurance in force with respect to the Premises and the Improvements. Tenant shall take immediate
steps to remedy or prevent any violation or attempted violation of the provisions of this Section by any subtenant of the Premises or
the Improvements.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">9.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any governmental license, approval or permit shall be required for the proper and lawful conduct of Tenant&rsquo;s business or other
activity carried on in the Premises, including, without limitation, Tenant&rsquo;s Work, Tenant, at Tenant&rsquo;s expense, shall duly
procure and thereafter maintain such license, approval or permit and submit the same for inspection by Landlord.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">9.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
party shall take any actions that may be required to comply with the terms of the USA Patriot Act of 2001, as amended, any regulations
promulgated under the foregoing law, Executive Order No. 13224 on Terrorist Financing, any sanctions program administrated by the U.S.
Department of Treasury&rsquo;s Office of Foreign Asset Control or Financial Crimes Enforcement Network, or any other laws, regulations,
executive orders or government programs designed to combat terrorism or money laundering, if applicable, on this Lease. Each party represents
and warrants to the other party that it is not an entity named on the List of Specially Designated Nationals and Blocked Persons maintained
by the U.S. Department of Treasury, as last updated prior to the date of this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">9.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
agrees to comply with the U.S. Foreign Corrupt Practices Act and all other applicable anti-corruption laws and regulations and any applicable
import/export laws and regulations.</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 0pt 1in">9.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reserved.</P>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Insurance</U></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: left; text-indent: 1in">10.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall, at Tenant&rsquo;s sole cost and expense, obtain and keep in force during the Term of this Lease such policy or policies of all
risk, special form, and where applicable builder&rsquo;s risk, fire, casualty and extended coverage insurance in the name of Landlord
insuring against loss or damage to the Premises, contents, equipment and the Buildings and policies of commercial general liability.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
the prior written consent of Landlord (such consent not to be unreasonably withheld, conditioned or delayed), Tenant shall not violate,
or permit the violation of, any condition imposed by the standard fire and extended coverage insurance policy then issued for the Buildings,
and shall not do, or permit anything to be done, or keep or permit anything to be kept in the Premises, which would subject Landlord
to any liability or responsibility for personal injury or death or property damage, or which would increase the fire or other casualty
insurance rate on the Buildings or the property therein over the rate which would otherwise then be in effect.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">10.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
covenants and agrees to provide on or before the occupying any portion of the Premises and to keep in force during the Term hereof for
the benefit of Landlord and Tenant, and any managing agent of the Buildings, as additional insureds:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
commercial general liability insurance policy (including contractual indemnity coverage) protecting Landlord, and Tenant against any
liability whatsoever occasioned by any occurrence on or about the Premises. Such policy is to be written by good and solvent insurance
companies satisfactory to Landlord, and shall be in such limits as Landlord may require. As of the date of this Lease, Landlord requires
combined single limit coverage of not less than $[***]. Such insurance may be carried under a blanket policy covering the Premises and
other locations of Tenant, if any;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worker&rsquo;s
Compensation Insurance or qualification as a self-insurer to satisfy the laws of the states which have jurisdiction over Tenant&rsquo;s
employees. To the extent permitted by law, Seller&rsquo;s Worker&rsquo;s Compensation Insurer or Tenant, if self-insured, agrees to waive
rights of subrogation against Landlord;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employers&rsquo;
Liability Insurance for Bodily Injury per accident with limits of not less than $[***] and Bodily Injury by Disease with limits of not
less than $[***] per policy;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
set forth in Section 10.02(i), Commercial General Liability Insurance for bodily injury, personal injury and property damage, including
coverage for products/completed operations and contractual liability, with combined limits of not less than $[***] per occurrence;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile
Liability Insurance covering use of all owned, non-owned and hired vehicles with minimum combined single limits of liability for bodily
injury and property damage of not less than $[***] per occurrence;</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Risk or Special Form coverage protecting Tenant against loss of or damage to Tenant&rsquo;s alterations, additions, improvements, fixtures,
inventory, equipment and other business personal property situated in or about the Premises as well as the Landlord&rsquo;s Buildings,
structure and real property known as the Premises to the full replacement value. The Landlord and the Tenant shall each be named as the
loss payees as their interests apply. The Tenant is responsible for payment of the premium; and</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental
Liability insurance coverage with limits of not less than $[***] per claim and a $[***] annual aggregate for: (1) bodily injury, sickness,
disease, mental anguish, or shock sustained by any person including death; (2) property damage including physical injury to or destruction
of tangible property including the resulting loss thereof, clean-up costs, and the loss of tangible property that has not been physically
injured or destroyed; and (3) defense including costs, expenses incurred in the investigation, adjustment or defense of claims for such
compensatory damage; for losses caused by pollution conditions that arise from the operations of the Tenant. Tenant shall maintain the
insurance for an additional period of <U>five (5)</U> years following the termination of this Lease and any other form or forms of insurance
as Tenant or Landlord or any mortgagees of Landlord may reasonably require from time to time, in form, in amounts and for insurance risks
against which a prudent Tenant would protect itself. All insurance coverage required under the policies set forth above shall apply to
the Premises as well as any entryways, sidewalks, driveways and parking areas used by the Tenant in accordance with the terms of this
Lease.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">10.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
by reason of any failure of Tenant to comply with the provisions of Article 10, the rate of fire insurance with extended coverage on
the Buildings or equipment or other property of Landlord shall be higher than it otherwise would be, Tenant shall reimburse Landlord,
within <U>thirty (30)</U> days, for that part of the premiums for fire insurance and extended coverage paid by Landlord because of such
failure on the part of Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">10.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
agrees that during the Lease, Landlord will be named as an additional insured via endorsement on Tenant&rsquo;s Commercial General Liability,
Pollution/Environmental Liability and Automobile Liability policies and that all Tenant&rsquo;s insurance identified in Article 10 will
specifically indicate that coverage with respect to Landlord will be primary without right of contribution of any other insurance carried
by or on behalf of Landlord. The intent is to exhaust all of the Tenant&rsquo;s available and applicable coverage before the Landlord&rsquo;s
coverage is called upon to protect the Landlord. Except for the Pollution/Environmental Liability Insurance described in Section 10.02(vii)
all of the above mentioned Tenant insurance will be occurrence-based coverages. The Pollution/Environmental Liability Insurance shall
be claims-made based coverage. Tenant may satisfy the limits of insurance required herein with any combination of primary and umbrella/excess
insurance policies.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Within
seven (7) days after the Commencement Date of this Lease or when Tenant or Tenant&rsquo;s representatives, contractors, or employees
requires access to the Premises to install furniture, equipment, systems, or other similar activities in order to prepare for the occupancy
of the Premises, upon renewal of insurance policies or upon Landlord&rsquo;s request during the Lease, Tenant will provide Landlord with
written certification, reasonably acceptable to Landlord, certifying that (a) the required insurance coverages are in effect and will
not be cancelled or materially changed until thirty (30) days after prior written notice has been delivered to Landlord, (b) Landlord
is designated as an additional insured on Tenant&rsquo;s Commercial General Liability policy and, if applicable, Tenant&rsquo;s Automobile
Liability policy and (c) all of Tenant&rsquo;s insurance identified herein will be primary and not contributory or excess of any other
insurance carried by or on behalf of Landlord.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
requirements in this Article 10 are separate and distinct from any other obligations of Tenant under this Lease.</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: left; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
and Tenant hereby each release the other, its officers, directors, employees and agents, from any and all liability or responsibility
(to the other or anyone claiming through or under them by way of subrogation or otherwise) for any loss or damage to property covered
by insurance which either party is required to maintain under this Lease, even if such loss or damage shall have been caused by the fault
or negligence of the other party, or anyone for whom such party may be responsible. However, this release shall be applicable and in
force and effect only with respect to loss or damage occurring during such time as the releasor&rsquo;s insurance policies shall contain
a clause or endorsement to the effect that any such release shall not adversely affect or impair said policies or prejudice the right
of the releasor to recover thereunder. Landlord and Tenant each agree that any fire and extended coverage insurance policies will include
such a clause or endorsement as long as the same shall be obtainable without extra cost, or, if extra cost shall be charged therefor,
so long as the other party pays such extra cost. If extra cost shall be chargeable therefor, each party shall advise the other party
of the amount of the extra cost, and the other party, at its election, may pay the same, but shall not be obligated to do so.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
insurance coverages are to be placed with insurers with an AM Best Rating of A- or better.</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: left; text-indent: 1in">10.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the time such insurance is first required to be carried by Tenant and thereafter, at least twenty (20) days prior to the effective
date of any such policy, Tenant agrees to deliver to Landlord either a duplicate original of the aforesaid policy or a certificate satisfactory
to Landlord evidencing such insurance. The certificate shall contain an endorsement that such insurance may not be canceled except upon
not less than twenty (20) days&rsquo; prior written notice to Landlord.</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>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 11</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Subordination, Notice
to Ground Landlords and Mortgagees</U></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: left; text-indent: 1in">11.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Lease, and all rights of Tenant hereunder, are and shall be subject and subordinate in all respects to all ground leases, overriding
leases and underlying leases of the Land and/or the Buildings now or hereafter existing and to all mortgages which may now or hereafter
affect the Land and/or the Buildings and/or any of such leases, whether or not such mortgages shall also cover other lands and/or buildings,
to each and every advance made or hereafter to be made under such mortgages, and to all renewals, modifications, replacements and extensions
of such leases and such mortgages and spreaders and consolidations of such mortgages, however, that the foregoing subordination to the
lien of any leases and mortgages is conditioned upon Landlord providing Tenant with a subordination, non-disturbance and attornment agreement
in favor of Tenant that provides, without limitation, that this Lease and the rights of Tenant hereunder shall survive any foreclosure
proceeding brought under such lease or mortgage. This Section shall be self-operative and no further instrument of subordination shall
be required. In confirmation of such subordination, Tenant shall promptly execute and deliver within fifteen (15) days of Tenant&rsquo;s
receipt of written request therefor any instrument that Landlord, the Landlord of any such lease or the holder of any such mortgage or
any of their respective successors in interest may reasonably request to evidence such subordination, provided such document does not
further reduce Tenant&rsquo;s rights or increase Tenant&rsquo;s obligations hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">11.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of any act or omission of Landlord which would give Tenant the right, immediately or after lapse of a period of time, to cancel
or terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise such right (i) until it has given written
notice of such act or omission to the holder of each mortgage and the Landlord of each lease whose name and address shall previously
have been furnished to Tenant in writing, and (ii) (unless such act or omission shall be one which is not capable of being remedied by
Landlord or such holder or Landlord within a reasonable period of time), until a reasonable period for remedying such act or omission
shall have elapsed following the giving of such notice (which reasonable period shall in no event be less than the period to which Landlord
would be entitled under this Lease or otherwise, after similar notice, to effect such remedy and shall be extended for such period of
time as Landlord is diligently prosecuting a cure).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">11.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Landlord of a lease or the holder of a mortgage shall succeed to the rights of Landlord under this Lease, whether through possession
or foreclosure action or delivery of a new lease or deed, then at the request of such party so succeeding to Landlord&rsquo;s rights
(herein sometimes called &ldquo;<U>successor landlord</U>&rdquo;) and upon such successor landlord&rsquo;s written agreement to accept
Tenant&rsquo;s attornment, Tenant shall attorn to and recognize such successor landlord as Tenant&rsquo;s landlord under this Lease,
and shall execute and deliver within fifteen (15) days of Tenant&rsquo;s receipt of written request therefor any instrument that such
successor landlord may reasonably request to evidence such attornment. Upon such attornment this Lease shall continue in full force and
effect as, or as if it were, a direct lease between the successor landlord and Tenant upon all of the terms, covenants, conditions, agreements
and provisions, as are set forth in this Lease except that the successor landlord shall not: (a) be liable for any previous act or omission
of Landlord under this Lease; (b) be subject to any offset, not expressly provided for in this Lease, which shall have theretofore accrued
to Tenant against Landlord; or (c) be bound by any previous modification of this Lease, not expressly provided for in this Lease, or
by any previous prepayment of more than one month&rsquo;s Fixed Rent, unless such modification or prepayment shall have been expressly
approved in writing by the Landlord of the superior lease or the holder of the superior mortgage through or by reason of which the successor
landlord shall have succeeded to the rights of Landlord under this Lease.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">11.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
in connection with obtaining financing for the Premises, an institutional lender shall request reasonable modifications in this Lease
as a condition to such financing, Tenant will not unreasonably withhold, delay or defer its consent thereto, provided that such modifications
do not increase the obligations (monetary or otherwise) of Tenant hereunder. Tenant agrees, however, that the obligation to give notice
to a ground Landlord or mortgage holder shall not be deemed an increase in Tenant&rsquo;s obligations as contemplated in the immediately
preceding sentence.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 12</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Tenant&rsquo;s Work</U></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: left; text-indent: 1in">12.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
may from time to time, at its sole expense, make such alterations, additions, installations, repairs, substitutions and improvements
(hereinafter collectively called &ldquo;<U>Tenant&rsquo;s Work</U>&rdquo;) in and to the Premises in accordance with this Article. Certain
work completed by Tenant is considered &ldquo;Immaterial Changes&rdquo;, which is excluded from Tenant&rsquo;s Work and may be completed
by Tenant at its sole cost and expense without Landlord&rsquo;s consent on the following conditions: (a) neither the outside appearance
of the Buildings nor any of its structural parts shall be affected; (b) no material change or impact to the mechanical, electrical, sanitary
and other systems of the Buildings, and the usage of such systems by Tenant shall not be materially increased; (c) ingress or egress
to the Premises shall not be affected in any material respect; (d) normal maintenance and repairs in the ordinary course of operation;
and (e) in performing the work involved in making such changes, Tenant shall be bound by and observe all of the conditions and covenants
contained in this Lease. Tenant&rsquo;s Work, other than Immaterial Changes, shall be done only upon prior written consent of Landlord,
and at such times and in such manner as Landlord may from time to time reasonably designate. Prior to the commencement of any Tenant&rsquo;s
Work, Tenant shall submit to Landlord, for Landlord&rsquo;s written approval, plans and specifications (to be prepared by and at the
expense of Tenant) of such proposed Tenant&rsquo;s Work in detail satisfactory to Landlord (such plans and specifications as approved
by Landlord, the &ldquo;<U>Plans and Specifications</U>&rdquo;) at least 30 days prior to such work. Any mechanic&rsquo;s lien filed
against the Premises for work done or claimed to have been done for, or materials furnished or claimed to have been furnished to, Tenant
shall be discharged by Tenant within thirty (30) days thereafter, by filing the bond required by law or otherwise. Tenant&rsquo;s Work
shall at all times comply with (1) laws, rules, orders and regulations of governmental authorities having jurisdiction thereof, (2) plans
and specifications prepared by and at the expense of Tenant theretofore submitted to Landlord for Landlord&rsquo;s prior written approval.
No Tenant&rsquo;s Work shall be begun until Landlord has approved such Plans and Specifications, and no amendments or additions to such
Plans and Specifications shall be made without the prior written consent of Landlord, except as set forth in items (a) through (e) above
regarding Immaterial Changes.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">12.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to Tenant&rsquo;s undertaking Tenant&rsquo;s Work and together with Tenant&rsquo;s request for permission to perform such Tenant&rsquo;s
Work (and as a condition precedent to the effectiveness of any such request) there shall be delivered to Landlord: (i) a performance
bond naming Landlord as a co-obligee, and (ii) a labor and material payment bond, both of which shall be in form and substance satisfactory
to Landlord in all respects. Each such bond shall be in an amount equal to the cost of all of the work desired to be performed for which
approval is being sought and shall guaranty the full completion of and total payment for all of such work, free and clear of all liens,
encumbrances, chattel mortgages and conditional bills of sale. Tenant shall also cause all contractors, subcontractors, materialmen and/or
suppliers engaged by or on behalf of Tenant in connection therewith to be notified in writing that a consent by Landlord to the making
of any such Tenant&rsquo;s Work shall not be or be deemed to be a consent by Landlord to the filing of any mechanic&rsquo;s lien against
the interest of Landlord in the Premises.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">12.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
contained in this Lease shall be construed to give Tenant any right, power or authority to contract for or permit the rendering of any
work or the furnishing of any material which might give rise to the filing of any mechanic&rsquo;s or other lien against the Premises,
or the interest of Landlord therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 13</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Tenant&rsquo;s Property</U></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: left; text-indent: 1in">13.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
fixtures, improvements, installations and appurtenances attached to or built into the Premises at the commencement or during the Term
of this Lease, whether by Landlord at its own expense or at the expense of Tenant, shall be and remain a part of the Premises, shall
be deemed the property of Landlord, and shall not be removed by Tenant, except as hereinafter in this Article expressly provided. Tenant
acknowledges that as of the Commencement Date certain areas of the Premises will contain scrap material which is owned, and will remain
owned, by Landlord, and Tenant will not move or otherwise disturb such material. In addition, Landlord reserves the right to remove any
assets within the Premises as of the Commencement Date, which are not included as part of this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">13.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
business and trade fixtures, machinery and equipment, communications equipment and office equipment, whether or not attached to or built
into the Premises, which are installed in the Premises by or for the account of Tenant, without expense to Landlord, and can be removed
without permanent structural damage to the Buildings, and all furniture, furnishings and other articles of movable personal property
owned by Tenant and located in the Premises (all of which are sometimes called &ldquo;<U>Tenant&rsquo;s Property</U>&rdquo;), shall be
and shall remain the property of Tenant and may be removed by it at any time during the Term of this Lease; provided, however, that if
any of Tenant&rsquo;s Property is removed, Tenant shall repair or pay the cost of repairing any damage to the Premises or to the Buildings
resulting from such removal. Any improvement for which Landlord shall have granted any allowance or credit to Tenant shall not be deemed
to have been installed by or for the account of Tenant, without expense to Landlord, and shall not be considered</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenant&rsquo;s Property.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
or before the Expiration Date, or the date of any earlier termination of this Lease, or as promptly as practicable after such an earlier
termination date, Tenant at its expense, shall remove from the Premises all of Tenant&rsquo;s Property except such items thereof as Tenant
shall have expressly agreed in writing with Landlord were to remain and to become the property of Landlord, and shall repair any damage
to the Premises or the Buildings resulting from such removal.</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: 1in">13.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
other items of Tenant&rsquo;s Property (except money, securities and other like valuables) which shall remain in the Premises after the
Expiration Date or after a period of fifteen (15) days following an earlier termination date, may thereafter, at the option of the Landlord,
and upon not less than three (3) days&rsquo; notice to Tenant allowing Tenant to retrieve such items, be deemed to have been abandoned,
and in such case either may be retained by Landlord as its property or may be disposed of, without accountability in such manner as Landlord
may see fit at Tenant&rsquo;s expense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 14</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Right of Inspection</U></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: left; text-indent: 1in">14.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the six (6) months prior to the expiration of the Term of this Lease or any Extension Term, Landlord may exhibit the premises to prospective
tenants or purchasers and place upon the premises the usual notices &quot;For Rent&quot; or &quot;For Sale&quot;, which notices Tenant
shall permit to remain without molestation. If Tenant shall not be personally present to open and permit an entry into said premises
at any time when for any reason an entry therein shall be reasonably necessary or permissible, Landlord or Landlord's agents may enter
the same by a master key or may forcibly enter the same, without rendering Landlord or such agents liable therefore and without, in any
manner, affecting the obligations and covenants of this lease. Nothing herein contained, however, shall be deemed or construed to impose
upon Landlord any obligation, responsibility or liability whatsoever for the care, maintenance or repair of the Buildings or any part
thereof, except as otherwise herein specifically provided.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">14.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an excavation shall be made or authorized to be made upon land adjacent to the Premises, Tenant shall afford to the person causing or
authorized to cause such excavation license to enter upon the Premises for the purpose of doing such work as Landlord shall deem necessary
to preserve the wall or the Buildings of which the Premises form a part from injury or damage and to support the same by proper foundations,
without any claim for damages or indemnification against Landlord or diminution or abatement of rent.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">14.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
incurring any liability to Tenant, Landlord may permit access to the Premises and open the same, whether or not Tenant shall be present,
upon demand of any receiver, trustee, assignee for the benefit of creditors, sheriff, marshal or court officer entitled, or reasonably
purporting to be entitled, for any lawful purpose or upon demand of any representative of the fire, police, Buildings, sanitation or
other department of the city, state or federal governments.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">14.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
reasonable notice to Tenant (which shall generally be at least twenty-four hours&rsquo; notice unless emergency circumstances otherwise
warrant a shorter time period), Landlord or Landlord&rsquo;s agent shall have the right to enter and/or pass through the Premises at
reasonable times during reasonable hours (i) to examine the Premises and to show them, holders of mortgages, or prospective purchasers,
mortgagees, or insurers, , (ii) for the purpose of making such repairs or changes in or to the Premises or in or to the Buildings or
its facilities as may be provided for by this Lease or as it may be required to make by law or in order to repair and maintain the Buildings
or its fixtures or facilities, and (iii) for the purpose of conducting such work as may be reasonably required in connection with work
being performed to the Buildings by Landlord. Landlord shall be allowed to take all materials into and upon the Premises that may be
required for such repairs, changes, and maintenance, without liability to Tenant, except to the extent that Landlord acts unreasonably
in connection therewith.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">14.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the period of <U>six (6)</U> months prior to the Expiration Date Landlord may exhibit the Premises to prospective tenants on reasonable
notice to Tenant. If Tenant shall timely exercise a right to extension of the Term, then this right to exhibit shall cease until nine
(9) months prior to the new Expiration Date at the end of the Extension Term.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 15</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Indemnity</U></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: left; text-indent: 1in">15.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall indemnify, release, defend and hold harmless Landlord , its agents, representatives, officers, shareholders, affiliates, directors
and employees, and its successors and assigns (individually &ldquo;<U>Landlord Indemnitee</U>&rdquo; and collectively, &ldquo;<U>Landlord
Indemnitees</U>&rdquo;), from and against any and all losses, liabilities, costs, claims, injuries, damages, penalties, forfeitures,
causes of action, suits and the costs and expenses incident thereto including costs of defense, settlement, and reasonable attorneys'
fees (&ldquo;Losses&rdquo;) to the extent arising from or in connection with Tenant&rsquo;s Use of the Premises, or from the conduct
of Tenant&rsquo;s business or from any activity, work or things done, permitted or suffered by Tenant in or about the Premises or elsewhere
and shall further indemnify and hold harmless Landlord Indemnities from and against any and all losses to the extent arising from any
breach or default in the performance of any obligation on Tenant&rsquo;s part to be performed under the terms of this Lease, or arising
from any act or omission of Tenant, or any of Tenant&rsquo;s agents, contractors, or employees, and from and against Losses incurred
in the defense of any such claim or any action or proceeding brought thereon; and in case any action or proceeding be brought against
any Landlord Indemnitee by reason of any such claim, Tenant upon notice from Landlord Indemnitee, shall defend the same at Tenant&rsquo;s
expense by counsel reasonably satisfactory to Landlord Indemnitee and Landlord Indemnitee shall cooperate with Tenant in such defense.
Tenant, as a material part of the consideration to Landlord Indemnitee, hereby assumes all risk of damage to property of Tenant or injury
to persons, in, upon or about the Premises arising from any cause. The obligations of Tenant under this Section shall survive the termination
of this Lease as to any right of indemnity which shall have accrued prior to such termination.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">15.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall indemnify and save harmless Tenant and its agents, representatives, officers, shareholders, affiliates, directors and employees
and its successors and assigns, against and from any and all Losses to the extent arising from a) Hazardous Substances existing at the
Premises prior to the Commencement Date or brought on the Premises by Landlord after the Commencement Date; however, this indemnification
expressly excludes Losses to the extent arising from the exacerbation by Tenant as contemplated under Article 16.03, and asbestosis material
as contemplated by Article 16.01(b), b) noncompliance with Applicable Environmental Law by Landlord, unless otherwise caused by or contributed
to by Tenant (either during the Term or prior to it), and c) Landlord&rsquo;s gross negligence or willful misconduct. In case any action
or proceeding be brought against Tenant by reason of any such claim, Landlord, upon notice from Tenant, shall resist and defend such
action or proceeding with counsel of Landlord&rsquo;s choice, reasonably acceptable to Tenant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 16</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Non-Liability; Environmental
and Indemnification</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">16.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Landlord nor any agent or employee of Landlord shall be liable to Tenant for any injury or damage to Tenant or to any other person or
for any damage to, or loss (by theft or otherwise) of, any property of Tenant or of any other person, irrespective of the cause of such
injury, damage or loss, unless caused by or due to the gross negligence or willful misconduct of Landlord, its agents or employees.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.6in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Given
the age of the facility, Tenant hereby acknowledges that the Buildings and Premises may contain asbestosis material. Prior to start of
Tenant&rsquo;s Work or completion of any Immaterial Changes, Tenant will perform the appropriate testing to determine if any asbestosis
material exists, and would be disturbed. In the event asbestosis material is discovered, Tenant will be responsible, at Tenant&rsquo;s
sole cost and expense, to engage properly licensed contractor for the removal of such material in accordance with Applicable Environmental
Law, and will abide by Landlord&rsquo;s safety and environmental policies and procedures.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">16.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall not cause or permit any Hazardous Substances or toxic material to be brought upon, kept, or used on the Premises by Tenant or by
any other person. In the event Tenant is in breach of this provision, or (whether or not such a breach has occurred) if the presence
of Hazardous Substance or toxic materials on the Premises results in contamination of the said Premises or any other area in the Buildings,
then Tenant shall indemnify, defend, and hold Landlord harmless from any and all Losses that arise during or after the lease Term as
a result of such contamination. This indemnification includes costs incurred in connection with any investigation of the site conditions
or any cleanup, remedial, removal, or restoration work required by any governmental agency. The foregoing indemnity shall survive the
expiration or earlier termination of this lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">16.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the foregoing, Tenant agrees to defend, indemnify, and hold Landlord Indemnitees, harmless against any and all Losses, foreseeable
and unforeseeable, consultant fees and expert fees and other expenses of any nature whatsoever which any Landlord Indemnitee may sustain,
suffer or incur or which may be claimed or asserted against the Landlord Indemnitee, to the extent arising out of the spillage, release,
discharge, disposal, or placement of any Hazardous Substance, at, in, on, under upon, or about the Premises by Tenant, or any of its
agents, invitees, affiliates, representatives, contractors, consultants or employees. Except as otherwise provided in Article 16.01(b),
Tenant will not be liable for Hazardous Substances existing at the Premises prior to the Commencement Date; however, Tenant&rsquo;s Indemnity
includes Tenant&rsquo;s negligent exacerbation of Hazardous Substances existing at the Premises prior to Tenant&rsquo;s possession thereof
including the breach of the Excavation Restriction. The obligations of Tenant under this Section shall survive the termination of this
Lease as to any right of indemnity which shall have accrued prior to such termination.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">16.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
represents and warrants to Landlord that, during the Term of this Lease, no Hazardous Substance will be spilled, released, discharged,
disposed of, placed or otherwise caused to be located in the soil or water in, on, under or about the Premises.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">16.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hazardous
Substance means any substance, chemical, contaminant or waste that is listed or defined as hazardous, toxic, or dangerous under Applicable
Environmental Law, and any asbestos containing materials, radioactive materials or petroleum products.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.6in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applicable
Environmental Law shall mean the Comprehensive Environmental Response, Compensation and Liability Act (&ldquo;CERCLA&rdquo;), 42 U.S.C.
 &sect;&sect; 9601 et seq.; the Resource Conservation and Recovery Act (&ldquo;RCRA&rdquo;), 42 U.S.C. &sect;&sect; 6901, et seq.; the
Federal Water Pollution Control Act, 33 U.S.C. &sect;&sect; 1251 et seq.; the Clean Air Act, 42 U.S.C. &sect;&sect; 7401, et seq.; the
Hazardous Materials Transportation Act, 49 U.S.C. &sect;&sect; 1471 et seq.; the Toxic Substances Control Act, 15 U.S.C. &sect;&sect;
2601 through 2629; the Safe Drinking Water Act, 42 U.S.C. &sect;&sect; 300f through 300j; and the Emergency Planning and Community Right-To-Know
Act of 1986, 42 U.S.C. &sect;&sect; 11001 et seq., each, as amended from time to time, or any successor laws thereto, together with the
rules and regulations promulgated thereunder, and any and all formal or informal orders, permits, decrees or requests from the United
States Environmental Protection Agency, the appropriate Texas state governmental and regulatory bodies, or any other governmental agency,
authority or instrumentality having jurisdiction and any similar state and local laws and ordinances and the regulations implementing
such statutes; together with any and all other federal, state, and local environmental or land use laws, rules, ordinances, or regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 17</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Bankruptcy/Insolvency</U></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: left; text-indent: 1in">17.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
at any time and for so long as Tenant shall be subjected to the provisions of the United States Bankruptcy Code or other law of the United
States or any state thereof for the protection of debtors as in effect at such time (each a &ldquo;<U>Debtor&rsquo;s Law</U>&rdquo;),
Tenant, Tenant as debtor-in-possession, and any trustee or receiver of Tenant&rsquo;s assets (each a &ldquo;<U>Tenant&rsquo;s Representative</U>&rdquo;)
shall have no greater right to assume or assign this Lease or any interest in this Lease, or to sublease any of the Premises then accorded
to Tenant in Section 35, except to the extent Landlord shall be required to permit such assumption, assignment or sublease by the provisions
of such Debtor&rsquo;s Law. Without limitation of the generality of the foregoing, any right of any Tenant&rsquo;s Representative to
assume or assign this Lease or to sublease any of the Premises shall be subject to the conditions that:</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: left; text-indent: 1in">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such
Debtor&rsquo;s Law shall provide to Tenant&rsquo;s Representative a right of assumption of this Lease which Tenant&rsquo;s Representative
shall have timely exercised and Tenant&rsquo;s Representative shall have fully cured any default of Tenant under this Lease.</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: left; text-indent: 1in">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant&rsquo;s
Representative or the proposed assignee, as the case shall be, shall have deposited with Landlord as security for the timely payment
of Rent an amount equal to any sum specified in Section 37.01, and shall have provided Landlord with adequate other assurance of the
future performance of the obligations of the Tenant under this Lease. Without limitation, such assurances shall include, at least, in
the case of assumption of this Lease, demonstration to the satisfaction of the Landlord that Tenant&rsquo;s Representative has and will
continue to have sufficient unencumbered assets after the payment of all secured obligations and administrative expenses to assure Landlord
that Tenant&rsquo;s Representative will have sufficient funds to fulfill the obligations of Tenant under this Lease; and, in the case
of assignment, submission of current financial statements of the proposed assignee, audited by an independent certified public accountant
reasonably acceptable to Landlord and showing a net worth and working capital in amounts determined by Landlord to be sufficient to assure
the future performance by such assignee of all of the Tenant&rsquo;s obligations under this Lease.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
assumption or any contemplated assignment of this Lease or subleasing any part of the Premises, as shall be the case, will not breach
any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 18</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Changes in Building Facilities</U></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: left; text-indent: 1in">18.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
reserves the right to make such changes, alterations, additions, improvements, repairs or replacements in or to the Premises and the
fixtures and equipment thereof, as well as in or to the street entrances and other parts thereof, and to erect, maintain and use pipes,
ducts and conduits in and through the Premises, all as Landlord may deem necessary or desirable; provided, however, that there be no
unreasonable obstruction of the means of access to the Premises or unreasonable interference with the Use of the Premises by Tenant.
Nothing contained in this Article shall relieve Tenant of any duty, obligation or liability of Tenant with respect to making any repair,
replacement or improvement, or complying with any law, order or requirement of any governmental or other authority.</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: left; text-indent: 1in">18.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall be no allowance to Tenant for a diminution of rental value and no liability on the part of Landlord by reason of inconvenience,
annoyance or injury to business arising from Landlord, Tenant or others making any changes, alterations, additions, improvements, repairs
or replacements in or to any portion of the Buildings or the Premises, or in or to fixtures, appurtenances or equipment thereof and no
liability upon Landlord for failure of Landlord or others to make any changes, alterations, additions, improvements, repairs or replacements
in or to any portion of the Buildings or the Premises, or in or to the fixtures, appurtenances of equipment thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 19</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Notice of Accidents</U></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: left; text-indent: 1in">19.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall give notice to Landlord, within <U>three (3)</U> hours of first becoming aware, of (i) any accident in or about the Premises, (ii)
all fires, burglaries, and any issue involving emergency services in the Premises, (iii) all damages to or defects in the Premises, including
the fixtures, equipment and appurtenances, and (iv) all damage to or defects in any parts of appurtenances of the Buildings sanitary,
electrical, heating, ventilating, air-conditioning, elevator and other systems located in or passing through the Premises or any part
thereof.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 20</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Destruction or Damage</U></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: left; text-indent: 1in">20.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Buildings or the Premises shall be partially or totally damaged or destroyed by fire or other cause, then whether or not the damage
or destruction shall have resulted from the fault or neglect of Tenant, or its employees, agents or visitors (and if this Lease shall
not have been terminated as in this Article hereinafter provided), Tenant shall promptly and with reasonable diligence repair the damage
and restore and rebuild the Buildings and/or the Premises to the same or better condition as existed prior to such casualty, at its expense,
with reasonable dispatch after notice to it of the damage or destruction. Landlord shall not be required to repair or replace any of
Tenant&rsquo;s Property. Notwithstanding anything contained herein to the contrary, in no event shall either party be relieved of liability
or responsibility for damage or destruction resulting from the fault or neglect of the other if the insurance policies carried by the
party at fault or negligent on the Buildings do not contain a waiver of the right of subrogation.</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: left; text-indent: 1in">20.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Buildings or the Premises shall be totally damaged or destroyed by fire or other cause, or if the Buildings shall be so damaged or
destroyed by fire or other cause as to require a reasonably estimated expenditure of more than 50% of the full insurable value of the
Buildings immediately prior to the casualty, then in either such case Landlord may terminate this Lease by giving Tenant notice to such
effect within the earlier of (a) one hundred fifty (150) days after the date of the casualty, or (b) forty-five (45) days after Landlord&rsquo;s
settlement of any insurance claim.</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: left; text-indent: 1in">In case of any damage or destruction
mentioned in this Article, and where the Landlord has not theretofore terminated this Lease, Tenant may terminate this Lease by notice
to Landlord, if there are two (2) years or less remaining on Tenant&rsquo;s Initial Term at the time of the damage or destruction; and
such termination shall be effective upon the expiration of thirty (30) days after the date of such notice.</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: left; text-indent: 1in">20.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from any repair
or restoration of any portion of the Premises or of the Buildings pursuant to this Article.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">20.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any of the foregoing provisions of this Article, if Landlord or the Landlord of any lease or the holder of any mortgage superior to this
Lease shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to the damage or destruction
of the Premises or the Buildings by fire or other cause that occurs by reason of some negligence or willful misconduct on the part of
Tenant or any of its employees, agents or contractors, then, without prejudice to any other remedies which may be available against Tenant,
there shall be no abatement of Tenant&rsquo;s rents until the total amount of such rents not abated which would otherwise have been abated
equals the amount of uncollected insurance proceeds.</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: left; text-indent: 1in">20.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
shall not be obligated to repair any damage of any kind to Tenant&rsquo;s Property or replace the same.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">20.06.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of the termination of this Lease pursuant to any of the provisions of this Article, this Lease and the Term and estate hereby
granted shall expire as of the date of such termination with the same effect as if that were the Expiration Date, and the Fixed Rent
and additional rent payable hereunder shall be apportioned as of such date.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">20.07.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of this Article shall be considered an express agreement governing any case of damage or destruction of the Premises by fire
or other casualty, and Section 227 of the Real Property Law of the State of Texas, providing for a contingency in the absence of an express
agreement, and any other law of like import, now or hereafter in force, shall have no application to the Premises and this Lease.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 21</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Condemnation</U>&nbsp;</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: left; text-indent: 1in">21.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the whole of the Premises shall be lawfully condemned or otherwise taken in any manner for any public use, this Lease
and the Term and estate hereby granted shall forthwith cease and terminate as of the earlier of the date of vesting of title or the taking
of possession by the condemnor. In the event that only a part of the Premises shall be so condemned or taken, then, effective as of the
date of vesting of title, the Fixed Rent and additional rent hereunder shall be abated in an amount proportionate to the area of the
Premises so condemned or taken; provided, however, that in the event Tenant is not in default and Tenant determines that the portion
of the Premises is material to Tenant&rsquo;s continued operation of its business on the Premises, Tenant may, at Tenant&rsquo;s option,
terminate this Lease and the Term and the estate hereby granted as of the date of such vesting or taking of title by notifying Landlord
in writing of such termination within thirty (30) days following the date on which Tenant shall have received notice of vesting of title
or the taking of possession. In the event that only a material part of the Buildings shall be so condemned or taken, then Landlord (whether
or not the Premises be affected) may, at Landlord&rsquo;s option, terminate this Lease and the Term and estate hereby granted as of the
date of such vesting of title by notifying Tenant in writing of such termination within thirty (30) days following the date on which
Landlord shall have received notice of vesting of title or the taking of possession. If Landlord does not elect to terminate this Lease,
as aforesaid, this Lease shall be and remain unaffected by such condemnation or taking, except that the Fixed Rent and additional rents
payable hereunder shall be abated to the extent hereinbefore provided in this Article.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">21.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of its termination pursuant to this Article, this Lease and the Term and estate hereby granted shall expire as of the date
of such termination with the same effect as if that were the Expiration Date, and the Fixed Rent and additional rent payable hereunder
shall be apportioned as of such date.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">21.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of any condemnation or taking hereinbefore mentioned of all or a part of the Buildings, Landlord shall be entitled to receive
the entire award for the Land and the Buildings in the condemnation proceeding, including any award made for the value of the estate
vested by this Lease in Tenant, and Tenant hereby expressly assigns to Landlord any and all right, title and interest of Tenant now or
hereafter arising in or to any such award or any part thereof, and Tenant shall be entitled to receive no part of such award. Nothing
contained in this Article shall prevent Tenant from bringing a separate action or proceeding for compensation for any of Tenant&rsquo;s
Property, loss of goodwill or moving expenses, provided that the same shall not reduce Landlord&rsquo;s award.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">21.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is expressly understood and agreed that the provisions of this Article shall not be applicable to any condemnation or taking for governmental
occupancy of the Premises for a limited period not to exceed six (6) months.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">21.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event any part of the Premises be taken to effect compliance with any law or requirement of public authority other than in the manner
hereinabove provided in this Article, then (i) if such compliance is the obligation of Tenant under this Lease, Tenant shall not be entitled
to any diminution or abatement of rent or other compensation from Landlord therefor, but (ii) if such compliance is the obligation of
Landlord under this Lease, the fixed rent and additional rents due hereunder shall be adjusted in the same manner as is provided in Section
21.01 according to the reduction in rentable area of the Premises resulting from such taking.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 22</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Surrender</U></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: left; text-indent: 1in">22.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the Expiration Date, or upon any earlier termination of this Lease, Tenant shall quit and surrender the Premises to Landlord broom clean
and in good order, condition and repair, except for ordinary wear and tear and such damage or destruction as Tenant is not required to
repair or restore under this Lease, and Tenant shall remove all of Tenant&rsquo;s Property therefrom except as otherwise expressly provided
in this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">22.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
agrees that it shall indemnify and save Landlord harmless against all actual and reasonable costs, actual and reasonable claims, actual
and reasonable loss or liability resulting from delay by Tenant in surrendering the Premises, including, without limitation, any claims
made by any succeeding tenant founded on such delay. The Parties recognize and agree that the damage to Landlord resulting from any failure
by Tenant timely to surrender the Premises will be substantial, will exceed the amount of monthly rent theretofore payable hereunder,
and will be impossible of accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord
within <U>two (2)</U> days after the date of the expiration or sooner termination of the Term of this Lease (unless Tenant is remaining
in occupancy of the Premises with the express written consent of Landlord), then Tenant will pay Landlord as liquidated damages for each
month and for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Term of
this Lease, a sum equal to 1.5 times both the additional rent and the Fixed Rent which was payable under this Lease during the last month
of the Term hereof. The aforesaid obligations shall survive the expiration or sooner termination of the Term of this Lease.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 23</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 24</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Conditions of Limitation</U></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: left; text-indent: 1in">24.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Lease and the Term and estate hereby granted are subject to the limitation that whenever Tenant shall make an assignment of the property
of Tenant for the benefit of creditors, or shall file a voluntary petition under any bankruptcy or insolvency law or any involuntary
petition alleging an act of bankruptcy or insolvency shall be filed against Tenant under any bankruptcy or insolvency law, or whenever
a petition shall be filed by or against Tenant under the reorganization provisions of the United States Bankruptcy Act or under the provisions
of any law of like import, or whenever a petition shall be filed by Tenant under the arrangement provisions of the United States Bankruptcy
Act or under the provisions of any law of like import, or whenever a permanent receiver of Tenant of or for the property of Tenant as
the case may be, shall be appointed, then, Landlord may, (a) at any time after receipt of notice of the occurrence of any such event,
or (b) if such event occurs without the acquiescence of Tenant, at any time after the event continues for <U>thirty (30)</U> days, give
Tenant a notice of intention to end the Term of this Lease at the expiration of <U>thirty (30)</U> days from the date of service of such
notice of intention, and upon the expiration of said <U>thirty (30)</U> day period this Lease and the Term and estate hereby granted,
whether or not the Term shall theretofore have commenced, shall terminate with the same effect as if that day were the Expiration Date,
but Tenant shall remain liable for damages as provided in Article 26.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">24.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Lease and the Term and estate hereby granted are subject to further limitation as follows: (a) whenever Tenant shall default in the payment
of any installment of Fixed Rent, or in the payment of any additional rent or any other charge payable by Tenant to Landlord, for more
than ten (10) days after the first day upon which the respective item of Fixed Rent, additional rent or other change, is due under this
Lease; (b)&nbsp; whenever Tenant shall do or permit anything to be done, whether by action or inaction, contrary to any of Tenant&rsquo;s
obligations hereunder, and if such situation shall continue and shall not be remedied by Tenant within thirty (30) days after Landlord
shall have given to Tenant a notice specifying the same; provided, however, that if the nature of the default is such that more than
thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a default if Tenant commences such cure within
such thirty (30) day period and thereafter diligently prosecutes such cure to completion within a period not to exceed ninety (90) days;
(c)&nbsp; whenever any event shall occur or any contingency shall arise whereby this Lease or the estate hereby granted or the unexpired
balance of the Term hereof would, by operation of law or otherwise, devolve upon or pass to any person, firm or corporation other than
Tenant; (d) whenever Tenant shall vacate or abandon the Premises (unless as a result of a casualty); or (e) whenever Tenant shall default
in the due observance and/or performance of any covenant, agreement, provision or condition of Article 2 hereof on the part of Tenant
to be kept, observed or performed and if such default shall continue and shall not be remedied by Tenant within three (3) business days
after Landlord shall have given to Tenant a notice specifying the same, then, in any of said cases set forth in the foregoing Subsections,
Landlord may give to Tenant a notice of intention to end the Term of this Lease at the expiration of three (3) business days from the
date of the service of such notice of intention, and upon the expiration of said three (3) days this Lease and the Term and estate hereby
granted, whether or not the Term shall theretofore have commenced, shall terminate with the same effect as if that day were the Expiration
Date, but Tenant shall remain liable for damages as provided herein.</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: left; text-indent: 1in">24.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an order for relief is entered in any case which is commenced by or against Tenant under the present or any future federal bankruptcy
code, Landlord shall be entitled to invoke any and all rights and remedies available to it under such bankruptcy code or this Lease,
including, without limitation, such rights and remedies as may be necessary to protect adequately Landlord&rsquo;s right, title and interest
in and to the Premises or any part thereof.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">24.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a default by the Tenant under any of the terms, conditions or covenants of this Lease requires the Landlord, in the exercise of its reasonable
discretion, to use the services of an attorney (whether or not an employee of Landlord) to engage in litigation, or to attempt to, or
successfully remedy such default, that Tenant will reimburse Landlord for any and all reasonable expenses incurred in its use of such
attorney and in any action which said attorney may take. Such expenses shall include, but are not limited to legal fees for all services
deemed necessary by Landlord, court costs, cost of filing and serving summons and/or complaint, etc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 25</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Re-Entry by Landlord</U></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: left; text-indent: 1in">25.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Tenant shall default in the payment of any installment of rent, on any date upon which the same ought to be paid, and if such default
shall continue for ten (10) days after Landlord shall have given to Tenant a notice specifying such default, or if this Lease shall expire
as in Article 24 provided, Landlord or Landlord&rsquo;s agents and employees may re-enter the Premises, or any part thereof, immediately
or at any time thereafter without being liable to indictment, prosecution or damages therefrom, to the end that Landlord may have, hold
and enjoy the Premises again as and of its first estate and interest therein. In the event of any termination of this Lease under the
provisions of Article 24 or if Landlord shall re-enter the Premises under the provisions of this Article or in the event of the termination
of this Lease, or of re-entry, by or under any summary dispossess or other proceedings or action or any provision of law by reason of
default hereunder on the part of Tenant, Tenant shall thereupon pay to Landlord the Fixed Rent and additional rent payable by Tenant
to Landlord up to the time of such termination of this Lease, or of such recovery of possession of the Premises by Landlord, as the case
may be, and shall also pay to Landlord damages as provided in Article 26.</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: left; text-indent: 1in">25.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of a breach by Tenant of any of its obligations under this Lease, Landlord shall also have the right of injunction. The special
remedies to which Landlord may resort hereunder are cumulative and are not intended to be exclusive of any other remedies or means of
redress to which Landlord may lawfully be entitled at any time and Landlord may invoke any remedy allowed at law or in equity as if specific
remedies were not provided for herein.</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: left; text-indent: 1in">25.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Lease shall terminate under the provisions of Article 24, or if Landlord shall re-enter the Premises under the provisions of this
Article, or in the event of the termination of this Lease, or of reentry, by or under any summary dispossess or other proceeding or action
or any provision of law by reason of default hereunder on the part of Tenant, Landlord shall be entitled to retain all moneys, if any,
paid by Tenant to Landlord, whether as advance rent, security or otherwise, but such moneys shall be credited by Landlord against any
Fixed Rent or additional rent due from Tenant at the time of such termination or re-entry or, at Landlord&rsquo;s option, against any
damages payable by Tenant under Article 26 or pursuant to law.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 26</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Damages</U></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: left; text-indent: 1in">26.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Lease is terminated under the provisions of Article 24, or if Landlord shall re-enter the Premises under the provisions of Article
25, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action
or any provision of law by reason of default hereunder on the part of Tenant, Tenant shall, upon demand, pay to Landlord as damages a
sum which at the time of such termination of this Lease or at the time of any such re-entry by Landlord equals the aggregate (discounted
at the rate of [***] to date of such termination or reentry) of the Fixed Rent and the additional rent payable hereunder which would
have been payable by Tenant (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding
such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case
may be, and ending with the Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the Premises; provided,
however, that if Landlord shall re-let the Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord
from such reletting, which shall be equal to the gross rents as and when received (and if such rent is paid in advance, it will be discounted
at [***] by Landlord from such re-letting, less the expenses incurred or paid by Landlord in terminating this Lease or in re-entering
the Premises and in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the Premises
for new tenants, brokers&rsquo; commissions, and all other expenses properly chargeable against the Premises and the rental thereof for
the remaining portion of the Term of the Lease. Any such re-letting may be for a period shorter or longer than the remaining Term of
this Lease but in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord
hereunder. If the Premises or any part thereof should be re-let in combination with other space, the rent received from such re-letting
and the expenses of re-letting shall be apportioned on a square foot basis.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">26.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suit
or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election,
and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the Term of this Lease would have
expired if it had not been terminated, or had Landlord not re-entered the Premises. Nothing herein contained shall be construed to limit
or preclude recovery by Landlord against Tenant for any sums or damages to which, in addition to the damages particularly provided above,
Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 27</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Waivers</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">27.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant,
on behalf of itself and any and all persons claiming through or under Tenant, including creditors of all kinds, does hereby waive and
surrender all right and privilege which they or any of them might have under or by reason of any present or future law, to redeem the
Premises or to have a continuance of this Lease for the Term hereby demised after being dispossessed or ejected therefrom by process
of law or under the terms of this Lease or after the termination of this Lease as herein provided.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">27.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Tenant is in arrears in payment of rent hereunder, Tenant agrees that Landlord may apply any payments made by Tenant to
any items it sees fit, irrespective of and notwithstanding any designation or request by Tenant as the items against which any such payments
shall be credited.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">27.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either against the other on any matter whatsoever
arising out of or in any way connected with this Lease, the relationship of landlord and tenant, Tenant&rsquo;s use or occupancy of the
Premises, including any claim of injury or damage, or any emergency or other statutory remedy with respect thereto. Tenant also waives
the provisions of any law relating to notice and/or delay in levy of execution in case of an eviction or dispossess, and of any other
law of like import now or hereafter in effect. If Landlord commences any summary proceeding, Tenant agrees that Tenant will not interpose
any counterclaim of whatever nature or description in any such proceeding.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">27.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of this Lease shall be considered express agreements governing the services to be furnished by Landlord, and Tenant agrees
that any laws and/or requirements of public authorities, now or hereafter in force, shall have no application in connection with any
enlargement of Landlord&rsquo;s obligations with respect to such services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 28</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>No Other Waivers or Modifications</U></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: left; text-indent: 1in">28.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
failure of either party to insist in any one or more instances upon the strict performance of any one or more of the obligations of this
Lease, or to exercise any election herein contained, shall not be construed as a waiver or relinquishment for the future of the performance
of such one or more obligations of this Lease or of the right to exercise such election, but the same shall continue and remain in full
force and effect with respect to any subsequent breach, act or omission. No executory agreement hereafter made between Landlord and Tenant
shall be effective to change, modify, waive, release, discharge, terminate in whole or in part, unless such executory agreement is in
writing, refers expressly to this Lease and is signed by the party against whom enforcement of the change, modification, waiver, release,
discharge or termination is sought.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">28.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following specific provisions of this Section shall not be deemed to limit the generality of Section 28.01: (a) No agreement to accept
a surrender of all or any part of the Premises shall be valid unless in writing and signed by Landlord; (b) The receipt by Landlord of
rent with knowledge of breach of any obligation of this Lease shall not be deemed a waiver of such breach; and (c) No payment by Tenant
or receipt by Landlord of a lesser amount than the correct fixed rent or additional rent due hereunder shall be deemed to be other than
a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an
accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord&rsquo;s right to recover the balance
or pursue any other remedy in this Lease or at law provided.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 29</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Curing Tenant&rsquo;s
Defaults, Additional Rent</U></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: left; text-indent: 1in">29.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Tenant shall default in the performance of any of Tenant&rsquo;s obligations under this Lease, Landlord, without thereby waiving such
default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, (a) without notice, in a
case of emergency, and (b) in any other case, only if such default continues after the expiration of (i) thirty (30) days from the date
Landlord gives Tenant notice of intention so to do, or (ii) the applicable grace period provided in this Lease for cure of such default,
whichever occurs later.</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: left; text-indent: 1in">29.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bills
for expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and bills for all actual and
reasonable costs, actual and reasonable expenses and actual and reasonable disbursements of every kind and nature whatsoever, including
reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent, additional rent or any part thereof or enforcing
or endeavoring to enforce any rights against Tenant, under or in connection with this Lease, or pursuant to law, including any such actual
and reasonable cost, actual and reasonable expense and actual and reasonable disbursement involved in instituting and prosecuting summary
proceedings, as well as bills for any property, material, labor or services provided, furnished or rendered, by Landlord or at its instance
to Tenant, may be sent by Landlord to Tenant monthly, or immediately, at Landlord&rsquo;s option, and shall be due and payable with the
next monthly installment of rent in accordance with the terms of such bills&nbsp;</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 30</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Parties Bound</U></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: left; text-indent: 1in">30.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of this Lease shall bind and benefit the successors and assigns of the Parties with the same effect as if mentioned in each
instance where a party is named or referred to, except that no violation of the provisions of Article 35 shall operate to vest any rights
in any successor or assignee of Tenant and that the provisions of this Article shall not be construed as modifying the conditions of
limitation contained herein. However, the obligations of Landlord under this Lease shall not be binding upon Landlord herein named with
respect to any period subsequent to the transfer of its interest in the Buildings as owner or Tenant thereof and delivery of written
notice of such transfer to Tenant and in the event of such transfer and notice said obligations shall thereafter be binding upon each
transferee of the interest of Landlord herein named as such owner or Tenant of the Buildings, but only with respect to the period ending
with a subsequent transfer within the meaning of this Article.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">30.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall look only to Landlord&rsquo;s estate and interest in the Premises, for the satisfaction of Tenant&rsquo;s remedies or the collection
of a judgment (or other judicial process) requiring the payment of money by Landlord hereunder, and no other property or assets of such
Landlord shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant&rsquo;s remedies under or
with respect to this Lease, the relationship of landlord and tenant hereunder or Tenant&rsquo;s use or occupancy of the Premises. In
no event, and under no circumstances, shall Landlord or any officer, employee, agent or principal (disclosed or undisclosed) of Landlord
have any personal liability or monetary obligation of any kind under or pursuant to this Lease.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 31</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Notices</U></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: left; text-indent: 1in">31.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in this Lease, a notice or communication which Landlord may desire or be required to give to Tenant, shall be deemed
sufficiently given or rendered if in writing, sent by registered or certified mail or overnight courier addressed to Tenant at Tenant&rsquo;s
address stated on the first page of this Lease and the time of the giving of such notice or communication shall be deemed to be upon
receipt if personally delivered, two (2) business days after mailing if mailed and on the next business day if sent by overnight courier.
Any notice by Tenant to Landlord must be served by registered or certified mail or overnight courier addressed to Landlord at the address
first hereinabove given, Attention: Director, Global Real Estate or at such other address as Landlord shall designate by written notice.
Either party hereto may change its mailing address by giving notice to the other pursuant to the provisions of this Article.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">31.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall promptly notify Landlord in writing of any change in the ownership of Tenant, any appointment or removal of directors of Tenant
or any material change in the immigration status of the shareholders, officers or directors of Tenant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 32</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Estoppel Certificate,
Memorandum</U></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: left; text-indent: 1in">32.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
agrees, at any time and from time to time, as requested by Landlord, upon not less than <U>fifteen (15)</U> days&rsquo; prior written
notice, to execute and deliver to Landlord a statement certifying that this Lease is unmodified and in full force and effect (or if there
have been modifications that the same is in full force as modified and stating the modifications), certifying the dates to which the
fixed rent and additional rent have been paid, and stating whether or not, to the best knowledge of Tenant, the other party is in default
in performance of any of his obligations under this Lease, and, if so, specifying each such default of which the signer may have knowledge,
it being intended that any such statement delivered pursuant hereto may be relied upon by others with whom the party requesting such
certificate may be dealing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 33</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Quiet Enjoyment</U></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: left; text-indent: 1in">33.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So
long as Tenant pays all of the Fixed Rent and additional rent due hereunder and performs all of Tenant&rsquo;s other obligations hereunder,
Tenant shall peaceably and quietly have, hold and enjoy the Premises during the Term of this Lease, subject nevertheless to its performance
of its obligations under this Lease.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 34</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>No Other Representations,
Construction, Governing Law, Inability to Perform</U></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: left; text-indent: 1in">34.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
expressly acknowledges and agrees that Landlord has not made and is not making, and Tenant, in executing and delivering this Lease, is
not relying upon, any warranties, representations, promises or statements, except to the extent that the same are expressly set forth
in this Lease or in any other written agreement which may be made between the Parties concurrently with the execution and delivery of
this Lease and shall expressly refer to this Lease. This Lease and said other written agreement(s) made concurrently herewith, if any,
are hereinafter referred to as the &ldquo;<U>Lease Documents</U>.&rdquo; It is understood and agreed that all understandings and agreements
heretofore had between the Parties are merged in the Lease Documents, which alone fully and completely express their agreement and that
the same are entered into after full investigation, neither party relying upon any statement or representation made by the other and
not embodied in the Lease Documents.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">34.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any of the provisions of this Lease, or the application thereof to any person or circumstances, shall, to any extent, be invalid or unenforceable,
the remainder of this Lease, or the application of said provision or provisions to persons or circumstances other than those as to whom
or which it is held invalid or unenforceable, shall not be affected thereby, and every provision of this Lease shall be valid and enforceable
to the fullest extent permitted by law.</P>

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">34.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Lease shall be governed in all respects by the laws of the State of Texas.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">34.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Lease and the obligation of Tenant to pay rent hereunder and perform all of the other covenants and agreements hereunder on the part
of Tenant to be performed shall in no way be affected, impaired or excused because Landlord is unable to fulfill any of its obligations
under this Lease or to supply or is delayed in supplying any service expressly or impliedly to be supplied or is unable to make or is
delayed in making any repair, additions, alterations or decorations or is unable to supply or is delayed in supplying any equipment or
fixtures if Landlord is prevented or delayed from so doing by reason of strike or labor troubles or any outside cause whatsoever, including
but not limited to governmental preemption in connection with a national emergency or by reason of any rule, order or regulation of any
department or subdivision thereof of any government agency or by reason of the conditions of supply and demand which have been or are
affected by war or other emergency or other like cause beyond Landlord&rsquo;s reasonable control.</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 35</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Assignment, Mortgaging,
Subletting</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">35.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
Tenant covenants and agrees for Tenant and its successors, assigns and legal representatives, that neither this Lease nor the Term and
estate hereby granted, nor any part hereof or thereof, will be assigned, mortgaged, pledged, encumbered or otherwise transferred (whether
voluntarily, involuntarily, by operation of law or otherwise), and that neither the Premises, nor any part thereof, will be encumbered
in any manner by reason of any act or omission on the part of Tenant, or will be used or occupied, or permitted to be used or occupied,
other than as hereinbefore set forth, or will be sublet, without the prior written consent of Landlord in every case. A transfer of fifty
percent (50%) or greater interest (whether stock, partnership interest or otherwise) of Tenant shall be deemed to an assignment of this
Lease, whether such transfer occurs in one transaction or in any series of transactions within a fourteen-month period. Landlord may
assign this Lease, or any part thereof, at its sole discretion without the consent of Tenant. Upon such assignment, Landlord will be
released from any and all obligations and liabilities contained herein other than its environmental indemnity and other indemnity obligations
to Tenant set forth in this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1.5in">(b) Notwithstanding the foregoing
provisions of this Article 35 to the contrary, Tenant may, without Landlord's approval or consent (i) assign this Lease in its entirety
to any Affiliate of Tenant (as defined below), subject to the following conditions: (A) such assignment is not a subterfuge by Tenant
to avoid its obligations under this Lease, (B) the Affiliate shall continue to use the Premises for the Use set forth in this Lease;
(C) Tenant gives Landlord prior notice of any such assignment or other transaction, (D) any such assignment shall be subject and subordinate
to all of the terms and provisions of this Lease, and any assignee under an assignment of this Lease shall assume, in a written document
reasonably satisfactory to Landlord and delivered to Landlord prior to the effective date of such assignment, all the obligations of
Tenant under this Lease; and (E) such assignment shall not relieve Tenant from any of its obligations under this Lease. As used herein:
(x) an &quot;Affiliate&quot; shall mean (I) a parent or subsidiary of Tenant, (II) any person or entity which controls, is controlled
by or is under common control with Tenant, (III) any entity which purchases all or substantially all of the assets and/or stock or ownership
interests of Tenant, or (IV) any entity into which Tenant is merged or consolidated; and (y) &quot;control&quot; shall mean the possession,
direct or indirect, of the power to cause the direction of the management and policies of a person or entity, or ownership of any sort,
whether through the ownership of voting securities, by contract or otherwise.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
subletting pursuant to this Article 35 shall be subject to all the covenants, agreements, terms, provisions and conditions contained
in this Lease. Tenant shall promptly furnish to Landlord a copy of each such sublease. Tenant covenants and agrees that, notwithstanding
such assignment or any such subletting to any subtenant and/or acceptance of rent or additional rent by Landlord from any subtenant,
Tenant shall and will remain fully liable for the payment of the Fixed Rent and additional rent due and to become due hereunder and for
the performance of all the covenants, agreements, terms, provisions and conditions contained in this Lease on the part of Tenant to be
performed. Tenant further covenants and agrees that notwithstanding any such assignment or subletting, no other and further assignment,
underletting or subletting of the Premises or any part thereof shall or will be made except upon compliance with and subject to the provisions
of this Article 35.</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">&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: left; text-indent: 1in">35.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Lease is assigned, or if the Premises or any part thereof is sublet or occupied by anybody other than Tenant, Landlord may, after
default by Tenant, collect rent from the assignee, subtenant or occupant, and apply the net amount collected to the rent herein reserved,
but no such assignment, subletting, occupancy or collection shall be deemed a waiver by Landlord of any of Tenant&rsquo;s covenants contained
in this Article 35 or the acceptance of the assignee, subtenant or occupant as Tenant, or a release of Tenant from the further performance
by Tenant of covenants on the part of Tenant herein contained.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regardless
of Landlord&rsquo;s consent, the following terms and conditions shall apply to any subletting by Tenant of all or any part of the Premises
and shall be included in subleases:</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
hereby assigns and transfers to Landlord as security all of Tenant&rsquo;s interest in all rentals and income arising from any sublease
heretofore or hereafter made by Tenant, and Landlord may collect such Rent and income and apply same toward Tenant&rsquo;s obligations
under this Lease; provided, however, that until a default shall occur in the performance of Tenant&rsquo;s obligations under this Lease,
Tenant may receive, collect and enjoy the Rents accruing under such sublease. Landlord shall not, by reason of this or any other assignment
of such sublease to Landlord or by reason of the collection of the Rents from a subtenant, be deemed liable to the subtenant for any
failure of Tenant to perform and comply with any of Tenant&rsquo;s obligations to such subtenant under such sublease. Tenant hereby irrevocably
authorizes and directs any such subtenant, upon receipt of a written notice from Landlord stating that a default exists in the performance
of Tenant&rsquo;s obligations under this Lease, to pay to Landlord the Rents due and to become due under the sublease. Tenant agrees
that such subtenant shall have the right to rely upon any such statement and request from Landlord, and that such subtenant shall pay
such Rents to Landlord without any obligation or right to inquire as to whether such default exists and notwithstanding any notice from
or claim from Tenant to the contrary. Tenant shall have no right or claim against such subtenant or Landlord for any such Rents so paid
by said subtenant to Landlord except to the extent the payments exceed Tenant&rsquo;s obligations to Landlord under this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
sublease entered into by Tenant shall be effective unless and until it has been approved in writing by Landlord. In entering into any
sublease, Tenant shall use only such form of sublease as is satisfactory to Landlord, and once approved by Landlord, such sublease shall
not be changed or modified without Landlord&rsquo;s prior written consent and an executed copy of such sublease shall be provided to
Landlord upon execution. Any subtenant shall, by reason of entering into a sublease under this Lease, be deemed, for the benefit of Landlord,
to have assumed and agreed to conform and comply with each and every obligation herein to be performed by Tenant other than such obligations
as are contrary to or inconsistent with provisions contained in a sublease to which Landlord has expressly consented in writing.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Tenant&rsquo;s obligations under this Lease have been guaranteed by third parties, then a sublease and Landlord&rsquo;s consent thereto,
shall not be effective unless said guarantors give their written consent to such sublease and the terms thereof.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consent by Landlord to any subletting shall not release Tenant from its obligations or alter the primary liability of Tenant to pay the
Rent and perform and comply with all of the obligations of Tenant to be performed under this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.06.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consent by Landlord to any subletting shall not constitute consent to any subsequent subletting by Tenant or to any assignment or subletting
by the subtenant. However, Landlord may consent to subsequent sublettings and assignments of the sublease or any amendments or modifications
thereto without notifying Tenant or anyone else liable on the Lease or sublease and without obtaining their consent and such action shall
not relieve such persons from liability.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.07.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of any default under this Lease, Landlord may proceed directly against Tenant, any guarantors or anyone else responsible for
the performance of this Lease, including the subtenant, without first exhausting Landlord&rsquo;s remedies against any other person or
entity responsible therefor to Landlord, or any security held by Landlord or Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event Tenant shall default in the performance of its obligations under this Lease, Landlord, at its option and without any obligation
to do so, may require any subtenant to attorn to Landlord, in which event Landlord shall undertake the obligations of Tenant under such
sublease from the time of the exercise of said option to the termination of such sublease; provided, however, Landlord shall not be liable
for any prepaid Rents or Security Deposit paid by such subtenant to Tenant or for any other prior defaults of Tenant under such sublease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">35.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
and every consent required of Tenant under a sublease shall also require the consent of Landlord.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0 0pt 1in">35.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
subtenant shall further assign or sublet all or any part of the Premises without Landlord&rsquo;s prior written consent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">35.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord&rsquo;s
written consent to any subletting of the Premises by Tenant shall not constitute an acknowledgment that no default then exists under
this Lease of the obligations to be performed by Tenant nor shall such consent be deemed a waiver of any then existing default, except
as may be otherwise stated by Landlord at the time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">35.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any subletting to which Landlord has consented, Landlord agrees to deliver a copy of any notice of default by Tenant to the
subtenant. Such subtenant shall have the right to cure a default of Tenant within <U>ten (10)</U> days after service of said notice of
default upon such subtenant, and the subtenant shall have a right of reimbursement and offset from and against Tenant for any such defaults
cured by the subtenant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">35.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attorney&rsquo;s
Fees. In the event Tenant shall assign or sublet the Premises or request the consent of Landlord to any assignment or subletting or if
Tenant shall request the consent of Landlord for any act Tenant proposes to do then Tenant shall pay Landlord&rsquo;s reasonable attorneys&rsquo;
fees incurred in connection therewith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 36</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Signage</U></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: left; text-indent: 1in">36.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
may have signage on the Buildings and monument signage. The size, placement and location of the signage shall be subject to the Landlord&rsquo;s
approval, which shall not be unreasonably withheld.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 37</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Reserved</U></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 38</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Reserved</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 39</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Common Areas</U></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: left; text-indent: 1in">39.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
parking areas, roads, truck ways and driveways, entrances and exits thereto, signs, shipping and other areas, improvements, utility infrastructure,
and other facilities designated as shared facilities as outlined in <U>Exhibit A-3</U> (herein sometimes referred to as &quot;<U>Common
Areas</U>&quot;) will be available for Tenant&rsquo;s non-exclusive use for ingress and egress, as well as parking and other approved
and/or reasonable uses, in a manner compatible with use by other tenants of Landlord. Except for temporary interruptions, Landlord shall
not materially diminish, reconfigure or otherwise deprive Tenant from use of the Common Areas necessary for its Use of the Premises.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">39.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
agrees to pay to Landlord, in each Landlord fiscal year and as additional rent throughout the Term hereof, Tenant's Pro-Rata Share (as
such term is reasonably determined by Landlord), of the &quot;<U>Annual Common Area Operating Cost</U>&quot; (as hereafter defined).
As used in this Lease, the term &quot;Annual Common Area Operating Cost&quot; shall mean the total of all reasonable costs and expenses
of every kind and nature incurred in each fiscal year by Landlord, with respect to assets shared by the Parties and not otherwise maintained
by Tenant in a manner determined by Landlord, in its sole discretion, to be reasonable and appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 40</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Miscellaneous</U></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: left; text-indent: 1in">40.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything contained in this Lease to the contrary, Tenant covenants and agrees that Tenant will not use the Premises or any part thereof,
or permit the Premises or any part thereof to be used, for any purpose other than the specific Use permitted under Article 2 herein.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: left; text-indent: 1in">40.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of Landlord and Tenant represents and warrants to the other that the representing party has had no dealings or negotiations with any
broker or agent in connection with the consummation of this Lease. Tenant shall pay, hold harmless and indemnify the Landlord from and
against any and all cost, expense (including reasonable attorneys&rsquo; fees) or liability for any compensation, commissions or charges
claimed by any broker or agent claiming that it has been engaged by the Tenant with respect to this Lease or the alleged negotiation
thereof.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">40.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
Landlord&rsquo;s request, Tenant shall deliver to Landlord a copy, certified by an officer of Tenant as being a true and correct copy,
of Tenant&rsquo;s most recent audited financial statement, or, if unaudited, certified by Tenant&rsquo;s chief financial officer as being
true, complete and correct in all material respects. Tenant hereby authorizes Landlord to obtain one or more credit reports on Tenant
at any time, and shall execute such further authorizations as Landlord may reasonably require in order to obtain a credit report.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">40.04.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Article headings of this Lease are for convenience only and are not to be given any effect whatsoever in construing this Lease.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">40.05.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Lease shall not be binding upon Landlord or Tenant unless and until it is signed by Landlord and Tenant and a fully signed copy thereof
is delivered by Landlord to Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">40.06.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
words, phrases, clauses and the like which have been deleted from this Lease prior to execution (including, but not limited to, altering
or crossing out, obliterating words by &ldquo;white out&rdquo; or otherwise) shall be of no force or effect, unless such deletion has
been initialed by both Parties. In this regard, deleted Lease language shall not be used to interpret the intent of the Parties with
respect to any obligation arising out of the landlord-tenant relationship even if the rest of this Lease is silent or ambiguous about
a particular obligation; for all intents and purposes, the deleted Lease language shall be ignored.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">40.07.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
submission of this lease for examination does not constitute a reservation of or option for the Premises and this Lease becomes effective
as a lease only upon execution and delivery thereof by Landlord and Tenant.</P>

<P STYLE="text-align: left; 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: left; text-indent: 1in">40.08.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant
shall not record this Lease without the written consent of Landlord. If requested by Landlord or Tenant, a memorandum or short form Lease
mutually acceptable to both parties shall be executed and recorded at the expense of the party so desiring said recording.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[Signature Pages Follow]</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">IN WITNESS WHEREOF, Landlord and Tenant have
duly executed this Lease as of the date first above written.</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LANDLORD</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Alcoa USA Corp.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 1pt solid; width: 46%">/s/ Mark A. Stiffler</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 1pt solid; width: 46%">Mark A. Stiffler</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt; border-bottom: black 1pt solid">Vice President</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TENANT</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Dory Creek,
    LLC</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="font-size: 10pt; border-bottom: black 1pt solid; width: 46%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Xiaojing Guo</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xiaojing
    Guo</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    Manager</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>EXHIBIT</U> &nbsp;<U>A-1</U></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Description</U> &nbsp;<U>of
</U>&nbsp;<U>the</U> &nbsp;<U>Land</U></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>EXHIBIT</U> &nbsp;<U>A-2</U></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Description</U> &nbsp;<U>of
</U>&nbsp;<U>the</U> &nbsp;<U>Buildings</U></P>


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

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 56 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>EXHIBIT</U> &nbsp;<U>A-3</U></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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


<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 57 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>EXHIBIT</U> &nbsp;<U>A-4</U></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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


<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Tenant's</U> &nbsp;<U>Documentation</U></P>


<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

<!-- Field: Page; Sequence: 59 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Landlord's</U> &nbsp;<U>Work</U></P>


<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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


<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

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

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

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

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>







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

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    <!-- Field: /Page -->

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



<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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

<P STYLE="text-align: right; margin: 0pt"><B>Exhibit 10.6</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certain confidential information contained in this document, marked
by [***], has been omitted because such information is both not material and is the type that the Company customarily and actually treats
that as private or confidential.</I></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><U>FIRST AMENDMENT TO LEASE</U></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 FIRST AMENDMENT TO LEASE
(&ldquo;First Amendment&rdquo;), is made and entered into this 18th day of October, 2018 by and between Alcoa USA Corp. (&ldquo;Alcoa&rdquo;),
and Bitmain Inc. (&ldquo;Bitmain&rdquo;).</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">WHEREAS, Alcoa and Bitmain
are parties to that certain Lease Agreement (&ldquo;Lease&rdquo;) dated June 6, 2018, whereby the Bitmain leased certain real estate and
associated facilities owned by Alcoa;</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 0pt 0.5in">WHEREAS, Alcoa and Bitmain wish to amend certain terms of
the Lease.</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">NOW THEREFORE, in consideration
of the mutual promises herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
agree to modify the Lease as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">1.</TD><TD STYLE="text-align: justify">Exhibit A-1 is hereby deleted in its entirety and is replaced with Attachment 1 hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">2.</TD><TD STYLE="text-align: justify">Exhibit A-2 is hereby deleted in its entirety and is replaced with Attachment 2 hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">3.</TD><TD STYLE="padding-right: 5pt">Building 44D is hereby added as part of the Premises (as defined in the Lease) until December 31, 2018.
As of January 1, 2019, either party may terminate the use of Building 44D by Bitmain, upon 30 days written notice to the other party.
The removal of Building 44D will have no effect on any other portion or part of the Premises.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">4.</TD><TD STYLE="padding-right: 12pt">Except as specifically amended herein, all other terms and conditions of the Lease shall remain in full
force and effect. This First Amendment shall be binding upon the successors and assigns of the respective parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">5.</TD><TD STYLE="text-align: justify; padding-right: 11pt">This First Amendment may be executed in counterparts, each of which shall be deemed
to be an original, but which together shall be deemed to constitute a single document.</TD></TR></TABLE>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Signature page to follow.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties have caused this
First Amendment to be executed by their duly authorized officers, effective as of the date and year first above written.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">Alcoa:</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; font-style: normal; font-weight: normal">Alcoa
    USA Corp.</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: normal 10pt Times New Roman, Times, Serif; width: 47%">/s/ Mark A. Stiffler</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-size: 10pt">Its: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: normal 10pt Times New Roman, Times, Serif; width: 46%"><FONT STYLE="font-size: 10pt">Vice President&nbsp;</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">10/22/2018</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Bitmain:&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Bitmain Inc.</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%">/s/ Xiaojing Guo</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #010101; width: 4%"><FONT STYLE="font-size: 10pt">Its: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #010101; width: 46%"><FONT STYLE="font-size: 10pt">General Manager</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #010101; width: 5%"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #010101; width: 45%"><FONT STYLE="font-size: 10pt">10/18/2018</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Attachment 1</U></P>

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

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><U>EXHIBIT A&#45;1 (Amendment 1)</U></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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Description</U> &nbsp;<U>of</U> &nbsp;<U>the</U> &nbsp;<U>Land</U></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***]</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>EXHIBIT A&#45;2</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Description</U> &nbsp;<U>of</U> &nbsp;<U>the</U> &nbsp;<U>Buildings</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>


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

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

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    <!-- Field: /Page -->

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

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.7</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certain confidential information contained in this document, marked
by [***], has been omitted because such information is both not material and is the type that the Company customarily and actually treats
that as private or confidential.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B><U>SECOND AMENDMENT TO
LEASE</U></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-indent: 0.5in">THIS SECOND AMENDMENT TO
LEASE (&ldquo;Second Amendment&rdquo;), is made and entered into effective May 1, 2019 (the &ldquo;Effective Date&rdquo;) by and between
Alcoa USA Corp. (&ldquo;Landlord&rdquo;), and Dory Creek, LLC, a wholly-owned subsidiary of Bitmain Inc. (&ldquo;Tenant&rdquo;).</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-indent: 0.5in">WHEREAS, Landlord and Tenant
are parties to that certain Lease Agreement dated June 6, 2018, as amended by the First Amendment of Lease dated October 18, 2018 (together
called the &ldquo;Lease&rdquo;), whereby Tenant leased certain real estate and associated facilities owned by Landlord;</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 0pt 0.5in">WHEREAS, Landlord and Tenant wish to amend certain terms
of the Lease.</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-indent: 0.5in">NOW THEREFORE, in consideration
of the mutual promises herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
agree to modify the Lease as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt">1.</TD><TD STYLE="text-align: left">Subject to Landlord&rsquo;s right of revision
                                            stated below, Landlord hereby sells and conveys to Tenant a one hundred percent (100%) ownership
                                            interest in its 1470 Private User Network (&ldquo;PUN&rdquo;) power circuit and the associated
                                            downstream components, for the sole purpose of power delivery of [***] megawatts to Potroom
                                            12, [***] megawatts to Potroom 14, [***] megawatts to Potroom 16, and up to [***] mw of auxiliary service
                                            load (limited to a total of no more than 80 megawatts). Upon termination of the Lease, for
                                            any reason at any time, Tenant&rsquo;s interest and ownership in the PUN will revert to Landlord.
                                            Tenant may not assign its ownership of the PUN at any time to any other entity. All improvements
                                            or replacements in any PUN components identified in this Section 1 by Tenant and funded by
                                            Tenant, will be owned by Tenant during the term of the Lease and will be owned exclusively
                                            by Landlord upon termination of the Lease. Upon execution of this Second Amendment, Landlord
                                            and Tenant will execute a Bill of Sale in substantially in the form as shown in Attachment
                                            A, conveying to Tenant the ownership interest in the PUN stated above. Tenant&rsquo;s ownership
                                            is based upon ONCOR&rsquo;s service delivery capacity of [***] MVA to circuits [***]
and [***] combined. Any de-rating of the [***] MVA service by ONCOR, will result in a corresponding percentage reduction
in Tenant&rsquo;s and Landlord&rsquo;s delivery capacities respectively.</TD></TR></TABLE>

<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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt">2.</TD><TD STYLE="text-align: left">Tenant is solely responsible for obtaining
                                            electrical power through a Retail Electric Provider (&ldquo;REP&rdquo;) to be supplied by
                                            ONCOR for Tenant&rsquo;s sole benefit and cost at the 1470 metering location.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt">3.</TD><TD STYLE="text-align: left">Landlord will grant to Tenant, at no cost
                                            to Tenant, the Non-Exclusive use of Landlord&rsquo;s Rectifier Station Building 1 and Building
                                            2 for installation of power switching, distribution and control equipment. Tenant&rsquo;s
                                            use of these buildings is subordinate to Landlord&rsquo;s.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">Tenant is responsible for supplying
power for lighting in these buildings.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt">4.</TD><TD STYLE="text-align: left">Landlord will grant to Tenant, at no cost
                                            to Tenant, Exclusive use of the interconnecting corridor between Buildings 1 &amp; 2; any
                                            modifications to building need to be approved by Landlord in advance.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt">5.</TD><TD STYLE="text-align: left">Exhibit A-1 (Description of the Land) is hereby
                                            deleted in its entirety and is replaced with Attachment A-1 hereto.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt">6.</TD><TD STYLE="text-align: left">Exhibit A-3 (Private User Network) is hereby
                                            deleted in its entirety and is replaced with Attachment A-3 hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; text-align: left">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt; text-align: left">7.</TD><TD STYLE="text-align: left">Effective on the Effective
                                            Date and continuing until such time as Tenant commences delivery of its own electrical power
                                            to each of the Buildings and Potrooms covered in this Section 7 (through 1470 via its own
                                            REP) Landowner will provide Temporary Construction Power to Tenant through Landlord&rsquo;s
                                            1480 circuit for a fixed daily fee of [***]. Tenant will provide on a weekly basis,
                                            daily log sheets that are agreed upon and signed off by local Landlord personnel. The Buildings
                                            and Potrooms covered under this Section 7 include portable offices, trailers Rectifier Buildings
                                            1 and 2 along with Potrooms 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24 and 26. Alcoa will invoice
                                            Tenant monthly, based on approved log sheets, (prorated for number of days of use in the
                                            prior month) for suppling Temporary Construction Power.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">&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; text-align: left">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt; text-align: left">8.</TD><TD STYLE="text-align: left">Section 31.01 is hereby
                                            deleted in its entirety and is replaced with the following:</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; text-indent: 63pt">31.01. Any notice or communication required by
this Lease shall be made in writing and properly addressed and mailed, emailed or delivered to the parties as set forth below:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="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: 10%">TO LESSOR:</TD>
  <TD STYLE="width: 40%">Alcoa USA Corp.</TD>
  <TD STYLE="width: 10%">TO LESSEE:</TD>
  <TD STYLE="width: 40%">Dory Creek, LLC</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]</TD>
  <TD>&nbsp;</TD>
  <TD>[***]</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]</TD>
  <TD>&nbsp;</TD>
  <TD>[***]</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]</TD>
  <TD>&nbsp;</TD>
  <TD>[***]</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]@alcoa.com</TD>
  <TD>&nbsp;</TD>
  <TD>[***]@bitmain.com</TD></TR>

<TR STYLE="vertical-align: top">
  <TD COLSPAN="2">&nbsp;</TD>
  <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD><FONT STYLE="font-size: 10pt">with a copy to:&nbsp; </FONT></TD>
  <TD><FONT STYLE="font-size: 10pt">Alcoa Real Estate</FONT></TD>
  <TD>with a copy to:&nbsp;</TD>
  <TD>Bitmain Inc.</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]</TD>
  <TD>&nbsp;</TD>
  <TD>[***]</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]</TD>
  <TD>&nbsp;</TD>
  <TD>[***]</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]</TD>
  <TD>&nbsp;</TD>
  <TD>[***]</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>[***]@alcoa.com</TD>
  <TD>&nbsp;</TD>
  <TD>[***]@bitmain.com</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&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: 9pt"></TD><TD STYLE="width: 27pt">9.</TD><TD STYLE="text-align: left">Landlord and Tenant acknowledge that the First
                                            Amendment of Lease dated October 18, 2018, was executed on behalf of Tenant by Bitmain Inc.,
                                            and that Tenant is a wholly-owned subsidiary of Bitmain Inc. Landlord and Tenant hereby ratify
                                            the First Amendment of Lease as originally executed and as amended by this Second Amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">10.</TD><TD STYLE="text-align: left">Except as specifically amended herein, all
                                            other terms and conditions of the Lease remain in full force and effect. This Second Amendment
                                            is binding upon the successors and assigns of the respective parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 9pt"></TD><TD STYLE="width: 27pt">11.</TD><TD STYLE="text-align: left">This Second Amendment may be executed in
                                            counterparts, each of which shall be deemed to be an original, but which together shall be
                                            deemed to constitute a single document.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>Signature page to follow.</I></P>

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

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

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    <!-- Field: /Page -->

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

<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-indent: 29.05pt"><FONT STYLE="color: #212222">IN WITNESS WHEREOF,
the parties have caused this Second Amendment to be executed </FONT><FONT STYLE="color: #222323">by their duly authorized officers, effective
as of the Effective Date.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>Landlord:</B></TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Alcoa USA Corp.</TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 47%">/s/ Mark A. Stiffler</TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>Its:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">Mark A. Stiffler</TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1F1F1F">Date:&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1F1F1F">6/20/2019</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 COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #141717"><B>Tenant:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #202121">Dory Creek, LLC</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 1pt solid">/s/ Wenguang Wang</TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>Its:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD>Date:&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid">6-13-2019</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 204pt; color: #131515"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 204pt; color: #131515"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Attachment A</U></P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Attachment A to Bill of Sale PUN Assets</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Attachment A-1</U></P>

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

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Attachment A-1 (Second Amendment) Description of the Land</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

<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">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Attachment A-3 (Second Amendment)</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Private User Network</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>5
<FILENAME>filename5.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.8</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certain confidential information contained in this document, marked
by [***], has been omitted because such information is both not material and is the type that the Company customarily and actually treats
that as private or confidential.</I></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">THIRD AMENDMENT TO LEASE</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-indent: 0.5in">THIS THIRD AMENDMENT TO LEASE (&#8220;Third
Amendment&#8221;), is made and entered into this <U>11th</U> day of May, 2021 (&#8220;Effective Date&#8221;) by and between Alcoa USA
Corp. (&#8220;Landlord&#8221;), and Dory Creek LLC a wholly-owned subsidiary of Bitmain Inc. (&#8220;Tenant&#8221;), each a &#8220;Party&#8221;
and collectively &#8220;Parties&#8221;.</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-indent: 0.5in">WHEREAS, Landlord and Tenant are parties
to that certain Lease Agreement dated June 6, 2018, as amended by the First Amendment of Lease dated October 18, 2018 and by the Second
Amendment of Lease dated May 1, 2019 (together called the &#8220;Lease&#8221;), whereby Tenant leased certain real estate and associated
facilities owned by Landlord;</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-indent: 0.5in">WHEREAS, Oncor Electric Delivery Company
LLC (&#8220;Oncor&#8221;) is interconnected with and provides electric delivery service to the ONCOR Number 3 138kV Switchyard Feed and
Meter;</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-indent: 0.5in">WHEREAS, Landlord and Tenant wish to amend certain terms of
the Lease.</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">NOW THEREFORE, in consideration of
the mutual promises herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
agree to modify the Lease as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Section 1.02 is hereby deleted in its entirety and is replaced with:</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 0pt 1in">1.02. Landlord hereby leases to Tenant, and Tenant hereby
leases from Landlord, the real property and personal property more particularly described in Exhibit A-1 attached hereto (the &#8220;Land&#8221;),
certain existing buildings and improvements located on the Land (the &#8220;<U>Buildings</U>&#8221;) as more particularly described in
Exhibit A-2 and a certain portion of Landlord&#8217;s existing electric power delivery network (the &#8220;Private User Network&#8221;
or &#8220;PUN&#8221; as more particularly described in Exhibit A-3 (excluding, however, certain electric power delivery facilities and
equipment retained by Landlord &#8220;<U>Landlord&#8217;s PUN Equipment</U>&#8221; and underground rights or air rights except as expressly
set forth herein. The Land, the Buildings and the PUN are sometimes referred to collectively herein as the &#8220;<U>Premises</U>&#8221;.
The Tenant&#8217;s use of the Premises as exclusive or non-exclusive is more specifically designated and detailed in Exhibits attached
hereto. Tenant is further granted the non-exclusive right to use certain common areas (the &#8220;<U>Common Areas</U>&#8221;) as more
particularly described on Exhibit A-4 attached hereto, and as further referenced in Article 39 hereof and certain portions of Landlord&#8217;s
PUN Equipment. The Common Areas which are to be maintained by Tenant, and the usage fees to be paid for use by Tenant as additional rent,
are stated in Exhibit A-4 and Section 39.02.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="padding-right: 7pt">The Parties have agreed to add the Non-Exclusive right to use the Travis/Reagan Access Road including the
LBJ Gate, Milam St. East and Milam St. West, and to remove Buildings 27J and 27K from the Leased Premises, as shown on the attached Exhibits
A-1, A-2 and A-4.</TD></TR></TABLE>

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

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">3.</TD><TD STYLE="text-align: justify">Article 6 of the Lease is hereby deleted and replaced with the
following:</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTICLE 6</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Services or Utilities</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 0pt 1in">6.01. Tenant shall pay and discharge punctually all charges
for water and any and all other services or utilities furnished to the Premises, the improvements, or the occupants of them, including
but not limited to: (i) construction and capital improvements of any additional infrastructure or utilities; (ii) Buildings repairs; (iii)
installation of additional equipment; (iv) any permitting required by law with respect to the Use of the Premises by Tenant; (v) contracting
with power supplier(s); or (vi) Use of the Premises by Tenant.</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 0pt 1in">6.02. (a) Tenant shall arrange for and pay for all electricity
and natural gas consumed at the Premises and Tenant will open an account with the provider and pay bills for usage on the Premises directly.</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 0pt 1in"> (b) In the event that the Expiration Date or other termination of this Lease shall be a day other than the last day of a year used for calculations hereunder, then in such event, in applying the provisions of this Article with respect to any year in which such event shall have occurred, appropriate adjustments shall be made to reflect the occurrence of such event on a basis consistent with the principles underlying the provisions of this Article taking into consideration the portion of such year which shall have elapsed prior to the date of such event.</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 0pt 1in"> <FONT STYLE="font-size: 10pt">(c)</FONT> Payments shall be made pursuant to this Article notwithstanding the fact that a utility statement is furnished to Tenant after the expiration of the Term of this Lease.</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">6.03. Landlord shall not be liable in any way (other than
the willful misconduct or gross negligence of Landlord, its employees or agents) to Tenant for any failure or defect in supply or character
of electric current or natural gas furnished to the Premises.</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 0pt 1in">6.04. Landlord will reserve for Tenant potable water for
[***] employees, and Tenant shall pay for as part of the rental payment, as a condition and incident of tenancy, potable water and sanitary
waste capacity (including the water itself) based upon [***] employees (whether contract employees or direct hires) at a rate of [***].</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 0pt 1in">In the event that the Tenant desires additional potable
water reservation for more than [***] employees, Landlord will determine at its sole discretion if the utility is available.</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 0pt 1in">Landlord reserves the right to audit, at any time, the number
of employees employed onsite by Tenant as well as the use of all potable water used by the Tenant to ensure usage is for potable purposes
only. If Tenant has more than [***] employees, or uses the water for any other use, Tenant will be in material breach of the lease. Tenant
may not discharge or blowdown any Water from Tenant&#8217;s facilities at any time.</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 0pt 1in">Potable Water and Sanitary Waste Reservation Rent will increase
annually by CPI as defined in Section 1.06(b). Potable water and sanitary wastes capacity supplied under this Section 6.04 shall be explicitly
for domestic uses only and may not be used for any process purpose or process consumption. Tenant shall have access to potable water
and sanitary waste capacity on the Land or in the Buildings on an &#8220;as is, where is&#8221; basis.</P>

<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">6.05. Landlord will reserve for Tenant untreated surface
water of 100 Gallons Per Minute at a rate of [***] and Tenant shall pay for as part of the rental payment,
as a condition and incident of tenancy, based upon reserved capacity as defined in this section 6.05.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Reservation Rent will increase annually by CPI as defined
in Section 1.06(b). Tenant shall have access to Untreated Surface Water on the Land or in the Buildings on an &#8220;as is, where is&#8221;
basis only. Tenant will be responsible for any additional treatment or delivery to Tenant&#8217;s facilities. Any usage in excess of the
reserved amount on a monthly basis will be billed at ten times the reserved rate. The Parties agree that the additional amount charged
for the excess usage is not a penalty but liquidated damages for the unanticipated costs and adverse conditions imposed upon Landlord
by the excess demand placed by the excess usage upon the facilities of Landlord, short-term and long-term, including physical, inchoate,
administrative, operational, and transactional costs or other adverse impacts on Landlord. Tenant may not discharge or blowdown any Water
from Tenant&#8217;s facilities at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">6.06. Landlord will reserve for Tenant, and Tenant shall
pay for as part of the Fixed Rent payment, as a condition and incident of tenancy, Tenant&#8217;s Share of the Total Electric Capacity
utilizing the Landlord&#8217;s PUN Equipment electric delivery facilities which are interconnected to the local electric transmission
and distribution service provider (but not including the electricity itself, which Tenant shall separately purchase as provided in Section
6.02(a)). Tenant shall have access to the Premises and Tenant&#8217;s Share of the Total Electric Capacity on the Land or in the Buildings
on an &#8220;as is, where is&#8221; basis only. Tenant will be responsible for any additional electric delivery capacity necessary to
deliver electricity to Tenant&#8217;s facilities in excess of the Tenant&#8217;s Share of Total Electric Capacity over the Landlord&#8217;s
PUN Equipment. As set forth in Section 6.12 of this Lease, Tenant shall be responsible for the operation, maintenance, repair, and replacement
of the PUN electric delivery facilities set forth in Exhibit A-3. Tenant acknowledges and agrees that: the Fixed Rent would be significantly
higher but for Section 6.12; the electric power consumption associated with Tenant&#8217;s operations involves unusual circumstances,
usage, or load characteristics; and it is prudent for the Parties to have Tenant accept such responsibility under Section 6.12 because
of Tenant&#8217;s specialized knowledge of the power consumption associated with Tenant&#8217;s operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">6.07. (a) Landlord does not guarantee or warrant that Landlord
Capacity will not fail or be interrupted or that the quality of same will not vary or fluctuate. Tenant is responsible for installing
and maintaining such devices and equipment as may be necessary or reasonable to protect Tenant&#8217;s equipment or processes during abnormal
events regarding Landlord Capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(b) Landlord shall make reasonable efforts to re-establish
Landlord Capacity with minimum of delay when failures, interruptions, or quality variations or fluctuations occur. However, Landlord
shall not be liable for direct or consequential damages resulting from failures, interruptions, or quality variations or fluctuations
occasioned by causes reasonably beyond the control of Landlord, including, but not limited to, acts of God or public enemy, sabotage
and/or vandalism, accidents, fire, explosion, labor troubles, strikes, order of any court or judge granted in any bona fide adverse legal
proceedings or action, or any order of any commission, tribunal or governmental authority having jurisdiction or, without limitation
by the preceding enumeration, any other act or thing due to causes beyond Landlord&#8217;s reasonable control, or to the negligence of
Landlord, its employees, or contractors, whether sole or joint and concurrent with the negligence of Tenant or third parties, except
to the extent the damages are occasioned by the gross negligence or willful misconduct of Landlord.</P>

<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">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> (c) For claims resulting from failures, interruptions or quality variations or fluctuations occasioned in whole or in part by gross negligence or willful misconduct of Landlord or it agents, Landlord shall be liable only for that portion of the damages arising from personal injury, death of persons, or costs of necessary repairs to or replacement of equipment proximately caused by the grossly negligent acts of Landlord or it agents. Landlord shall not be liable in any event for consequential damage.</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> (d) Landlord may, without notice (however, Landlord will attempt to provide as much notice as reasonably practical in the circumstances to Tenant) and without liability to Tenant, interrupt Landlord Capacity to Tenant when in Landlord&#8217;s sole judgement such interruption: (i) will prevent or alleviate an emergency threatening to disrupt the operation of Landlord&#8217;s facilities that are utilized in the provision of the Landlord Capacity; or (ii) will lessen or remove possible danger to life or property; or (iii) will aid in the restoration of Landlord Capacity; or (iv) it is required to make necessary repairs to or changes in Landlord&#8217;s facilities that are utilized in the provision of the Landlord Capacity. In the event of a nonemergency situation, Landlord will provide Tenant with at least 5 calendar days&#8217; notice prior to interrupting Landlord Capacity to Tenant if such disturbance is within Landlord&#8217;s control.</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> (e) Tenant shall install, operate, and maintain such protective equipment and devices, and implement such procedures and practices, as may be reasonable or necessary to protect Tenant&#8217;s property, equipment, processes, or activities during occurrences of abnormal Landlord Capacity. Tenant shall maintain such equipment and devices in good operating condition, and otherwise install, operate, and maintain Tenant&#8217;s property and equipment in an entirely safe and reasonably efficient manner and in full compliance with applicable law. Landlord neither assumes nor accepts any duty or responsibility for the inspection of the Tenant&#8217;s apparatus, machinery, equipment, or operations and shall not be responsible therefor, nor does Landlord accept any liability due to the initiation or continuation of Landlord Capacity to Tenant.</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(f)</FONT> Tenant
assumes full responsibility for the Landlord Capacity received and used by Tenant upon the Premises, and will protect, indemnify, and
save Landlord harmless from all claims for injury, including death, or damage to persons or property occurring upon the Premises, even
if due to Landlord&#8217;s negligence, whether sole or joint and concurrent with the negligence of Tenant or third parties, occasioned
by such Landlord Capacity, except to the extent of (x) claims resulting from the gross negligence or willful misconduct of Landlord or
(y) claims caused by another tenant of Landlord or any persons under the control of such tenant.</P>

<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">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> (g) When an interruption in Landlord Capacity occurs, it shall be the responsibility of the Tenant to determine that the interruption is not caused by a fault or defect in Tenant&#8217;s property, equipment, processes, or activities before notifying Landlord of the interruption.</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> (h) Landlord Capacity will be measured as necessary by meters or monitoring equipment selected, installed, tested, owned, operated, and maintained by Landlord. Tenant shall not take any actions that affect the accuracy of such equipment during the Term of this Lease. Landlord will give reasonable advance notice of all tests, inspections, maintenance, or alteration of any metering and monitoring equipment to Tenant so that representatives of Tenant may be present. Meter and monitoring records will be provided to Tenant upon its reasonable request. Tenant may install check meters with regard to the Landlord Capacity as long as such check meter installation and operation does not interfere with or affect the accuracy of Landlord&#8217;s metering or monitoring equipment. Tenant will give reasonable advance notice of all tests, inspections, maintenance, or alteration of any check metering equipment to Landlord so that representatives of Landlord may be present. Check meter records will be provided to Landlord upon its reasonable request.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">6.08. Landlord or its successor(s) reserves the right to establish
a Municipal Utility District (&#8220;MUD&#8221;), Municipal Management District (&#8220;MMD&#8221;), or equivalent which would include
the facilities and capacity subject to this Lease, provided that such MUD, MMD, or its equivalent: (i) will not relieve Landlord from
its obligation to provide the services under Sections 6.04, 6.05, and/or 6.06 unless the facilities and capacity therefor are owned and
operated by such MUD, MMD, or its equivalent; (ii) is not expected to materially increase Tenant&#8217;s overall costs for the type of
services under Sections 6.04, 6.05, and/or 6.06 except to the extent allowed or required by applicable law; or (iii) is not expected
to materially affect the nature, quality, or reliability of the types of services under Sections 6.04, 6.05, and/or 6.06 except to the
extent allowed or required by applicable law. Tenant agrees that, if such a MUD, MMD, or equivalent is created Tenant hereby agrees to
take service from such MUD, MMD, or equivalent. Tenant hereby represents, warrants, covenants, and agrees it will exercise any election,
vote, or other consent, and will take all actions necessary or appropriate, for the establishment of such a MUD, MMD, or equivalent.
The Parties recognize and agree that such a MUD, MMD, or equivalent, is allowed to and may charge rates, fares, tolls, charges, rents,
or other fees or compensation for the facilities and capacity and the Parties&#8217; use of the facilities and capacity that are different
in structure or design from the costs incurred by Tenant under this Agreement. Sections 6.04, 6.05, 6.06, and/or 6.07 of this Lease will
terminate on the date of termination specified in notice by Landlord to Tenant after the establishment of such a MUD, MMD, or equivalent.
Notwithstanding the foregoing, and without otherwise limiting the foregoing with respect to services under Sections 6.04 and 6.05, the
Parties do not expect electric delivery capacity under Section 6.06 to be included as part of the MUD, MMD, or equivalent but the Parties
recognize and agree that it may be appropriate or advantageous to do so, and therefore inclusion of said electric delivery capacity as
part of the MUD, MMD, or equivalent may occur subject to the consent of Tenant, after review of all applicable documentation delivered
by Landlord, such consent not to be unreasonably withheld.</P>

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

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<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">6.09.</FONT> In the event that regulatory requirements become applicable to the Landlord Capacity which, in the sole discretion of Landlord, require an amendment or amendments to this Lease in order to conform the terms and conditions of this Lease to such regulatory requirements (including but not limited to those necessary such that Landlord will not become regulated as an public utility), Landlord shall provide to Tenant an amendment or amendments limited to that which is reasonably necessary to conform the terms and conditions of this Lease to such regulatory requirements, and Tenant hereby represents, warrants, covenants, and agrees it will promptly execute and deliver to Landlord such amendment or amendments when so requested by Landlord. The Parties will cooperate and work together to seek to reasonably minimize the impact of the regulatory requirements with respect to the Parties&#8217; operations if an amendment is required in accordance with this section. Nothing in this Section 6.09 shall be construed to limit or prevent the Parties from mutually agreeing to include in such amendment or amendments terms and conditions that are in addition to that which is necessary to conform the terms and conditions of this Lease to such regulatory requirements.</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">6.10.</FONT> Tenant understands that Landlord is not a public utility, that Landlord does not provide utilities to the public, and that Landlord is legally allowed to provide certain utilities to its tenants but only in connection with and incidental to the lease of the Premises, as long as such services are not resold to or used by others. Both Parties agree that as a result of this Lease Landlord does not provide utilities to the public, and Landlord Capacity is only being made available pursuant to this Lease as an incident thereof. The Landlord Capacity may not be resold to or used by others, and Tenant hereby represents, warrants, covenants, and agrees it will not resell the Landlord Capacity or allow use of Landlord Capacity by others. Tenant further represents, warrants, covenants, and agrees that the reservation rents for the Landlord Capacity provided under Section 6.04 is included in the total rent payable based upon the capacity provided, and are not separate or additional service fees for that which is actually used by Tenant.</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> 6.11. RESERVED</P>



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

<P STYLE="margin: 0pt 0 0pt 1in; font: 10pt Times New Roman, Times, Serif"> 6.12. Subsequent to the Preliminary Period, Tenant will be responsible for operating, maintaining, repairing, and replacing any of the electric delivery facilities designated for Tenant&#8217;s exclusive use as set forth in Exhibit A-3, including the cost thereof, on the following terms and conditions:</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(a) Tenant shall perform such operations, maintenance, repairs,
and replacements, including preventative maintenance, in a safe, prudent, professional, and workmanlike manner, and will maintain such
electric delivery facilities in a safe, adequate, efficient, and reasonable condition, in accordance with any applicable safety codes
and with &#8220;Good Electric Utility Practice.&#8221; Good Electric Utility Practice shall mean, for purposes of this Section 6.12(a),
any of the practices, methods, and acts engaged in or approved by a significant portion of the electric utility industry in the United
States of America during the relevant time period, or any of the practices, methods, and acts that, in the exercise of reasonable judgment
in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable
cost consistent with good business practices, reliability, safety, and expedition. Good Electric Utility Practice is not intended to
be limited to the optimum practice, method, or act, to the exclusion of all others, but rather is intended to include acceptable practices,
methods, and acts generally accepted in the region. Tenant shall only utilize employees or outside contractors with demonstrable experience
operating, maintaining, repairing, and replacing electric delivery facilities. In connection with such employees or outside contractors,
Tenant agrees to comply with all federal, state and local laws, ordinances, resolutions, rules, regulations and executive orders pertaining
to unlawful discrimination on account of race, color, creed, religion, national origin, sex, marital status, status with regard to public
assistance, disability or age.</P>

<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(b) Tenant shall bear in full the cost of such operations,
maintenance, repairs, and replacements, including but not limited to preventative maintenance, rental of equipment, insurance, taxes,
personnel or contractors required to supervise, implement, and accomplish all of the foregoing. Such operations, maintenance, repairs,
and replacements shall not give rise to any ownership rights by Tenant in the electric delivery facilities, and Tenant hereby expressly
assigns to Landlord any and all right, title and interest of Tenant now or hereafter arising in or to any material, supplies, and equipment
utilized in operating, maintaining, repairing, and replacing any of such electric delivery facilities. Tenant will indemnify, hold harmless
and defend Landlord, its affiliates, directors, officers, partners, agents, and employees from and against any and all loss, liability,
damage, cost or expense, including damage and liability for bodily injury to or death of persons or damage to property of persons caused
by Tenant, an affiliate of Tenant, or any representative of Tenant during its operating, maintaining, repairing, and replacing any of
such electric delivery facilities. Tenant shall maintain and preserve during the Term of this Lease all material documentation regarding
its operating, maintaining, repairing, and replacing any of such electric delivery facilities, and make that documentation available for
Landlord&#8217;s inspection upon Landlord&#8217;s request.</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 0pt 1in">6.13. Landlord&#8217;s Step-In-Rights. Tenant acknowledges
and recognizes that its failure to comply with the provisions of Section 6.12 can have significant adverse effects on Landlord and other
tenants of Landlord. In addition to any remedies provided in this Lease, including but not limited to Article 25, or other remedies provided
in law or equity or by statute, the following provisions shall apply with regard to any failure of Tenant to comply with the provisions
of Section 6.12:</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 0pt 1in"> <FONT STYLE="font-size: 10pt">(a)</FONT> Upon the occurrence of a failure of Tenant to comply with the provisions in Section 6.12 (such failure being a &#8220;Section 6.12 Breach&#8221;), then immediately upon Tenant becoming or being made aware of the occurrence of a Section 6.12 Breach ( if Landlord is aware of such breach, Landlord will attempt to provide as much notice as reasonably practical in the circumstances to Tenant), Tenant shall attempt in good faith to cure such failure immediately if necessary to allow continued delivery of electricity by the electric delivery facilities set forth in Exhibit A-3 and as promptly as possible in all other circumstances.</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 0pt 1in">(b) Notwithstanding anything to the contrary
contained in this Lease, (i) if an emergency situation occurs Landlord shall have the right, but not the obligation, to immediately take
any action or actions that Landlord, in its sole and absolute discretion, believes is necessary as a result of Tenant&#8217;s failure
relating to operating, maintaining, repairing, and replacing any of the electric delivery facilities set forth in Exhibit A-3, or (ii)
in a nonemergency situation, if Tenant ceases exercising good faith efforts to cure such failure or, in any event fails to cure such
failure promptly (not to exceed thirty (30) days), Landlord, in its sole and absolute discretion, may take any action that Landlord believes
is necessary as a result of Tenant&#8217;s failure (such rights, the &#8220;Step-In Rights&#8221;).</P>

<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">&nbsp;</P>

<P STYLE="margin-left: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> (c) Upon exercise of the Step-In Rights, Tenant will be responsible for the costs of the action or actions taken by Landlord. Tenant shall reimburse Landlord for such costs within fourteen (14) days after receiving an invoice from Landlord the amount of such costs along with reasonably detailed supporting documentation with respect to such costs. The Parties agree that the costs for which Tenant shall reimburse Landlord include all materials, supplies, equipment (including but not limited to switches, circuit control devices, wires, transformers, meters and metering equipment, protective equipment, distribution lines, and distribution poles), contractor&#8217;s fees and charges, and other outside services incurred by Landlord in taking such action or actions, with all of the foregoing multiplied by 115% to compensate Landlord, as liquidated damages and not as a penalty, for Landlord&#8217;s payroll and payroll related expenses, overhead, engineering, administrative, and other internal costs incurred by Landlord in association with the action or actions taken in the exercise of the Step-In Rights.</P>



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

<P STYLE="margin-left: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> (d) Upon exercise of the Step-In Rights, Tenant will remain be responsible for, and will not be relieved of its obligation for, operating, maintaining, repairing, and replacing any of the electric delivery facilities set forth in Exhibit A-3, including the cost thereof.</P>



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

<P STYLE="margin-left: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> (e) No Party may enter any agreement that alters, affects or limits the Step-In Rights.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt">(f) In the event that Landlord
exercises its Step-In Rights as a result of the occurrence of a default, any such Step-In Rights will expire only upon the sole discretion
of Landlord.</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-left: 1in; margin-top: 0pt; margin-bottom: 0pt">(g) During non-emergency situations, the parties will work
together to seek to reasonably minimize the dispute and disruption of the Landlord&#8217;s and Tenant&#8217;s operations during such step-in
rights as described herein.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Article 10.02 (vi) is hereby deleted and replaced with the following:</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-left: 1in; margin-top: 0pt; margin-bottom: 0pt">All Risk or Special Form coverage protecting Tenant against
loss of or damage to Tenant&#8217;s alterations, additions, improvements, fixtures, inventory, equipment and other business personal property
situated in or about the Premises as well as the Buildings, structure and real property known as the Premises, including but not limited
to the items included in Attachment 1, which are leased to Tenant and included in the PUN, to the functional value. The Landlord and the
Tenant shall each be named as the loss payees as their interests apply. The Tenant is responsible for payment of the premium.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify; padding-right: 37pt">Exhibit A-1 (Description of the Land) is hereby deleted in its entirety and is replaced
with Exhibit A-1 hereto.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify; padding-right: 8pt">Exhibit A-2 (Description of Buildings) is hereby deleted in its entirety and is replaced
with Exhibit A-2 hereto.</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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify; padding-right: 46pt">Exhibit A-3 (Private User Network) is hereby deleted in its entirety and is replaced
with Exhibit A-3 hereto.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify; padding-right: 50pt">Exhibit A-4 (Common Areas) is hereby deleted in its entirety and is replaced with
Exhibit A-4 hereto.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify; padding-right: 49pt">Exhibit A-5 (the &#8220;Private User Network Single Line Diagram&#8221;) is hereby
added to the Premises Lease.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">12.</TD><TD>Landlord agrees to transfer to Tenant and make a part of this Lease the control of the ONCOR Number 3 138kV Switchyard Feed and Meter
effective on the later of 2021 May 01 or the date ONCOR transfers registration of the Number 3 Switchyard Feed Metering to Tenant, subject
to the conditions and requirements provided in this Third Amendment. Notwithstanding any other provision in the Lease, Tenant cannot assign
or transfer the ONCOR Number 3 138kV Switchyard Feed and Meter or any of its rights under this Lease regarding the ONCOR Number 3 138kV
Switchyard Feed and Meter to any other person for any reason, and any such assignment or transfer will be void. The transfer of such control
is subject to the Landlord&#8217;s right of reversion and other rights in this Third Amendment as stated below.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">13.</FONT></TD><TD STYLE="padding-right: 1pt">Subject to Landlord&#8217;s right of reversion stated below, Landlord hereby leases Tenant its Private
User Network (&#8220;PUN&#8221;) power circuit and the associated downstream components as more particularly described in Exhibit A-3
.. Upon termination of the Lease, for any reason at any time, Tenant&#8217;s interest and ownership in the PUN will revert to Landlord.
Tenant may not assign its ownership of the PUN at any time to any other entity. All improvements or replacements in any PUN components
identified in this Section 13 by Tenant and funded by Tenant, will be owned by Tenant during the term of the Lease and will be owned exclusively
by Landlord upon termination of the Lease.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="padding-right: 9pt">The Tenant&#8217;s use of the Premises entitles Tenant to a prorated share of electric energy service from
the Landlord&#8217;s PUN delivery capacity (the &#8220;Tenant&#8217;s Share of Total Electric Capacity&#8221;) of not to exceed [***]
on the 1470 FEED and not to exceed [***] through the ONCOR Number 3 138kV Switchyard Feed and Meter. Any service reduction by Oncor,
will result in a corresponding percentage reduction in Tenant&#8217;s delivery capacities.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify; padding-right: 1pt">Tenant is solely responsible for obtaining electrical power through a Retail Electric
Provider (&#8220;REP&#8221;) for the ONCOR Number 3 138kV Switchyard Feed and Meter.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">16.</FONT></TD><TD>Tenant is not an electric utility and is not a REP. Landlord has certain electricity consuming facilities on the portion of the PUN
interconnected to ONCOR Number 3 138kV Switchyard Feed and Meter. The Landlord consuming facilities will be operated using a limited portion
of the electricity delivered to ONCOR Number 3 138kV Switchyard Feed and Meter, which is [***] megawatt hours of electrical power per
year consumed on an average of approximately 2 megawatts per hour. Tenant will allow such Landlord consuming facilities to utilize the
electricity which Tenant purchases from a REP through ONCOR Number 3 138kV Switchyard Feed and Meter. Tenant acknowledges that this power
will be used by Landlord through Landlord&#8217;s 3850 Breaker circuit during the entire term of the Lease, including all Lease term extensions. Landlord shall release
Tenant from any issues to the extent arising out of the Landlord&#8217;s ultimate use of the power.</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.</TD><TD STYLE="padding-right: 2pt">Tenant will not sell such electricity to Landlord, and Tenant will not charge Landlord anything for such
electricity. Landlord will not purchase such electricity from Tenant, and will not pay any compensation or provide any other consideration
to Tenant for such electricity. Tenant represents, warrants, acknowledges, and agrees: that it is allowing the free use of such electricity
by Landlord in order for Tenant to not be an electric utility or an REP; that it has not received and will not receive any compensation
or consideration for the free use of such electricity by Landlord; that the free use of such electricity by Landlord is compensation or
other consideration which Tenant is and will be providing to Landlord in lieu of additional rent; and that the Fixed Rent would be higher
but for this Third Amendment.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">18.</TD><TD STYLE="padding-right: 3pt">To the extent that Tenant for accounting and/or reporting purposes must separately account for the amount
of such electricity utilized by Landlord, it will treat it as rental expense or lease expense. Landlord or Landlord&#8217;s designee will
measure the amount of such electricity utilized by Landlord by meters or monitoring equipment selected, installed, tested, owned, operated,
and maintained by Landlord or Landlord&#8217;s designee. Tenant shall not take any actions that affect the accuracy of such equipment
during the Term of this Lease. Landlord will give reasonable advance notice of all tests, inspections, maintenance, or alteration of any
metering and monitoring equipment to Tenant so that representatives of Tenant may be present. Meter and monitoring records will be provided
to Tenant upon its reasonable request.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">19.</TD><TD>In connection with this Third Amendment, Tenant will comply with the
                                            following terms and conditions: (i) with regard to the executed and effective agreement or
                                            contract, including any amendments or modifications, for the purchase by Tenant of electricity
                                            from a REP through ONCOR Number 3 138kV Switchyard Feed and Meter, Tenant will provide immediately
                                            to Landlord, by email to the Director of Asset Management [***] and
                                            to the Director of Global Real Estate [***] a copy of any notices or other
                                            communications Tenant receives from that REP regarding past due amounts, defaults, events
                                            of default, termination or suspension or discontinuance of the agreement or contract, termination
                                            or suspension or discontinuance or disconnection of service, or any other matter that would
                                            adversely affect the ability of such Landlord consuming facilities to utilize electricity
                                            which Tenant purchases from that REP; (ii) if there is or will be a termination or suspension
                                            or discontinuance or disconnection of service without termination or suspension or discontinuance
                                            of that REP agreement or contract, Tenant will promptly and expeditiously surrender or abandon
                                            that REP agreement or contract so that Landlord can arrange with a REP to take service at
                                            ONCOR Number 3 138kV Switchyard Feed and Meter, and to the extent necessary Tenant hereby
                                            consents in advance to any transfer of retail electric service at ONCOR Number 3 138kV Switchyard
                                            Feed and Meter from Tenant to Landlord if such transfer is requested by Landlord to a REP
                                            and the REP requires evidence of Tenant&#8217;s consent thereto; (iii) Tenant will use commercially
                                            reasonable efforts to have in that REP agreement or contract the right to assign it to any
                                            landlord for its premises served under that REP agreement or contract (including by amendment
                                            to an existing REP agreement or contract and with regard to any new or renewed REP agreement
                                            or contract); (iv) Tenant will use commercially reasonable efforts to have in that REP agreement
                                            or contract the right to provide a copy of it to any landlord for its premises served under
                                            that REP agreement or contract (including by amendment to an existing REP agreement or contract
                                            and with regard to any new or renewed REP agreement or contract), and if allowed by such
                                            REP contract or agreement Tenant will provide to Landlord a copy of it including any amendments
                                            or modifications thereto; and (v) Tenant will cooperate as expeditiously as possible with
                                            Landlord, and to the extent necessary with that REP and/or Oncor, to prevent any interruption
                                            of the ability of such Landlord consuming facilities to utilize the electricity which Tenant
                                            purchases from that REP ONCOR Number 3 138kV Switchyard Feed and Meter or is otherwise delivered
                                            to ONCOR Number 3 138kV Switchyard Feed and Meter.</TD></TR></TABLE>

<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">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">20.</TD><TD STYLE="text-align: justify">Article 39.01 of the Lease will be revised to delete reference to Exhibit A-3 and replace with Exhibit
A-4 (herein sometimes referred to as &#8220;Common Areas.&#8221;)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">21.</TD><TD STYLE="padding-right: 2pt">Except as specifically amended herein, all other terms and conditions of the Lease remain in full force
and effect. This Third Amendment is binding upon the successors and assigns of the respective parties.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">22.</FONT></TD><TD STYLE="text-align: justify; padding-right: 7pt">This Third Amendment may be executed in counterparts, each of which shall be deemed
to be an original, but which together shall be deemed to constitute a single document.</TD></TR></TABLE>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Signature page to follow.</I></P>

<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties have caused
this Third Amendment to be executed by their duly authorized officers, effective as of the date and year first above written.</P>

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

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

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



<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="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left">Alcoa USA Corp.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt">/s/ Mark A. Stiffler</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt; width: 5%">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt; width: 45%">Vice President</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt">Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt">May 11th 2021</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Tenant:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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" STYLE="font-size: 10pt">Dory
Creek LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt; width: 45%">/s/ Wenguang Wang </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt">2021/5/7</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</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-top: 0pt; margin-bottom: 0pt; text-align: center">Exhibit A-1-Description of the Land</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[***]</P>

<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">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-2-Description of the Buiildings</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">EXHIBIT A-3</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">EXHIBIT A-4-Common
Areas</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-5-Private
User Network Single Line Diagram</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***]</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"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>6
<FILENAME>filename6.htm
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.9</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"><I>Certain confidential information contained in this document, marked
by [***], has been omitted because such information is both not material and is the type that the Company customarily and actually treats
that as private or confidential.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">FOURTH AMENDMENT TO LEASE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 140pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22pt 0pt 0; text-indent: 0.5in">THIS FOURTH AMENDMENT TO LEASE (&ldquo;Fourth
Amendment&rdquo;), is effective on May 11, 2021 (&ldquo;Effective Date&rdquo;) by and between Alcoa USA Corp. (&ldquo;Landlord&rdquo;),
and Dory Creek LLC a wholly-owned subsidiary of Bitmain Inc. (&ldquo;Tenant&rdquo;), each a &ldquo;Party&rdquo; and collectively &ldquo;Parties&rdquo;.</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 3pt 0pt 0; text-indent: 0.5in">WHEREAS, Landlord and Tenant are parties
to that certain Lease Agreement dated June 6, 2018, as amended by the First Amendment of Lease dated October 18, 2018, by the Second Amendment
of Lease dated May 1, 2019 and the Third Amendment of Lease dated May 11, 2021 (together called the &ldquo;Lease&rdquo;), whereby Tenant
leased certain real estate and associated facilities owned by Landlord;</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 16pt 0pt 0; text-indent: 0.5in">WHEREAS, Oncor Electric Delivery Company
LLC (&ldquo;Oncor&rdquo;) is interconnected with and provides electric delivery service to the ONCOR Number 3 138kV Switchyard Feed and
Meter;</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 0pt 0.5in">WHEREAS, Landlord and Tenant wish to amend certain terms
of the Lease.</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 21pt 0pt 0; text-align: justify">NOW THEREFORE, in consideration of the
mutual promises herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree
to modify the Lease as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Exhibit A-2 (Description of Buildings) is hereby deleted in its entirety and is replaced with Exhibit
A-2 hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; 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: 0.5in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Exhibit A-3 (Private User Network) is hereby deleted in its entirety and is replaced with Exhibit A-3
hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; 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: 0.5in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Except as specifically amended herein, all other terms and conditions of the Lease remain in full force
and effect. This Fourth Amendment is binding upon the successors and assigns of the respective parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; 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: 0.5in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">This Fourth Amendment may be executed in counterparts, each of which shall be deemed to be an original,
but which together shall be deemed to constitute a single document.</TD></TR></TABLE>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Signature page to follow.</I></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties have caused this
Fourth Amendment to be executed by their duly authorized officers, effective as of the date and year first above written.</P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Alcoa USA Corp.&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt; font: 10pt Times New Roman, Times, Serif; width: 46%">/s/ Mark A. Stiffler</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice
President </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">6/16/2021&nbsp;</FONT></TD></TR>
  </TABLE>


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Dory Creek LLC&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt; font: 10pt Times New Roman, Times, Serif; width: 46%">/s/ Wenguang Wang</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Head of Global Mining Farms&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">06/11/2021</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>EXHIBIT</U> &nbsp;<U>A-2</U></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Description</U> &nbsp;<U>of
</U>&nbsp;<U>the</U> &nbsp;<U>Buildings</U></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none"></FONT></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">EXHIBIT &nbsp;A-3</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none"></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none">[***]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none"></FONT></P>

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<FILENAME>filename7.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit 10.10</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential information contained
in this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">FIFTH AMENDMENT TO LEASE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">THIS FIFTH AMENDMENT TO LEASE (&ldquo;Fifth
Amendment&rdquo;) is effective on August 30, 2021 (&ldquo;Effective Date&rdquo;) by and between Alcoa USA Corp. (&ldquo;Landlord&rdquo;),
and Dory Creek LLC a wholly-owned subsidiary of Bitdeer Inc. (formerly known as Bitmain Inc) (&ldquo;Tenant&rdquo;), each a &ldquo;Party&rdquo;
and collectively &ldquo;Parties&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Landlord and Tenant are parties
to that certain Lease Agreement dated June 6, 2018, as amended by the First Amendment of Lease dated October 18, 2018, by the Second Amendment
of Lease dated May 1, 2019, by the Third Amendment of Lease dated May 11, 2021, and by the Fourth Amendment of Lease dated effective May
11, 2021 (together called the &ldquo;Lease&rdquo;), whereby Tenant leased certain real estate and associated facilities owned by Landlord;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Oncor Electric Delivery Company
LLC (&ldquo;Oncor&rdquo;) is interconnected with and provides electric delivery service for use by Tenant;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, based upon recent Public Utility
Commission and ERCOT guidelines, Oncor has imposed electric load limitations on the Sandow Substations located on Landlord&rsquo;s property,
resulting in a reduction of electric service that can be delivered by Oncor to Tenant through existing Oncor equipment, which electric
load limitations will continue until new equipment is installed by Oncor, including capacitor banks, reactor banks, a new 345/138 Super
Substation, and other equipment, or alternate equipment, as deemed necessary by Oncor (the &ldquo;New Equipment&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, in order to install the New Equipment,
Oncor requires Landlord, as the landowner and owner of the Private User Network (&ldquo;PUN&rdquo;), and as landlord under the Lease,
to execute a Facilities Expansion Agreement (&ldquo;FEA&rdquo;), which agreement requires the electric user to post a refundable security
deposit;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Section 14 of the May 11, 2021,
Third Amendment of the Lease provides as follows:</P>

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

<P STYLE="margin-left: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">The Tenant&rsquo;s use of the Premises entitles Tenant to
a prorated share of electric energy service from the Landord&rsquo;s PUN delivery capacity (the &ldquo;Tenant&rsquo;s Share of Total Electric
Capacity&rdquo;) of not to exceed [***] on the 1470 FEED and not to exceed [***] through the Oncor Number 3 138kV Switchyard Feed and
Meter. <I><U>Any service reduction by Oncor will result in a corresponding percentage reduction in Tenant&rsquo;s delivery capacities</U></I>.
(Emphasis added.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Landlord and Tenant have determined
that it is mutually beneficial for Landlord to execute the FEA as proposed by Oncor in order to mitigate the reductions in the electric
service provided to Tenant by Oncor and to set out the target dates relating to the construction of Oncor&rsquo;s Required Level of Operation
Facilities (as defined in the FEA) and the target dates for the Required Level of Operation (as defined in the FEA);</P>




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Tenant has agreed to fund the
refundable security deposit required by Oncor under the FEA so that Landlord may enter into the FEA, and Landlord has agreed that Tenant
will be entitled to the refund of the security deposit if, as or when the conditions for refund are satisfied in accordance with the provisions
of the FEA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Landlord and Tenant wish to
enter into this Fifth Amendment of the Lease in order to address the matters stated above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">NOW THEREFORE, in consideration of
the mutual promises herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: left"><U>Funding of the Refundable Security Deposit required under
the FEA</U>. Tenant will provide the funds required under the FEA as a refundable security deposit, in the amount of $[***] Such
funds will be paid by wire transfer to Landlord to be paid to Oncor under the FEA, or may be paid directly by Tenant to Oncor by wire
transfer, if agreed upon by Oncor and Landlord.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: left"><U>Refund of the Security Deposit</U>. The FEA provides a mechanism
for a refund of the security deposit upon the satisfaction of certain requirements provided under the FEA. Tenant, and not Landlord,
will be entitled to any refund of the security deposit paid under the FEA. Landlord and Tenant agree that, while Landlord will cooperate
reasonably to facilitate the refund of the security deposit, Tenant shall be responsible for satisfaction of the requirements under the
FEA necessary for the refund of all or part of the security deposit. If agreed upon by Oncor and Landlord, any refund of the security
deposit will be paid directly to Tenant. If the refund of the security deposit is paid to Landlord, Landlord will in turn pay the amount
of the refund to Tenant as promptly as possible, but no later than 30 days after receipt of the refund by Landlord.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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">3.</TD><TD STYLE="text-align: justify; padding-right: 30pt"><U>Specific Conditions</U>. The following conditions are acknowledged and agreed
by the Parties:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify; padding-right: 8pt">As of the Effective Date, Tenant&rsquo;s capacity is limited to [***]
on circuit 1470.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify; padding-right: 2pt">As of the Effective Date, Tenant&rsquo;s capacity is limited to [***]
on the Oncor Number Three Tie Circuit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">c.</TD><TD STYLE="text-align: left">At such time that Oncor provides Landlord with official notification
that the Required Level of Operation No. 1 Facilities (as defined in the FEA) have been constructed in accordance with the FEA, and provided
that such construction of the Required Level of Operation No. 1 Facilities (as defined in the FEA) is completed by June 1, 2022, Tenant&rsquo;s
load capacity limit will be increased to no more than [***] by June 30, 2022 on the Oncor Number Three Tie Circuit until such time as
the Required Level of Operation No. 2 Facilities (as defined in the FEA) are installed.</TD>
</TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">d.</TD><TD STYLE="text-align: left">At such time that Oncor provides Landlord with official notification
that the Required Level of Operation No. 2 Facilities (as defined in the FEA) have been constructed in accordance with the FEA, and provided
that such construction of the Required Level of Operation No. 2 Facilities (as defined in the FEA) is completed by December 31, 2022,
Tenant may pursue a load ramp above [***] in accordance with the five-year load forecast provided by Tenant to Landlord in May 2021
to ramp up the load capacity on the Oncor Number Three Tie Circuit to [***].</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">e.</TD><TD STYLE="text-align: left">At such time that Oncor provides Landlord with official notification
that the aggregated load from all users on the Sandow Switch Substation has reached [***] Landlord will be entitled to seek on behalf
of Tenant, a refund from Oncor of $[***] of the security deposit funds.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">f.</TD><TD STYLE="text-align: left">At such time that Oncor gives Landlord official notification
that the aggregated load from all users on Sandow Switch Substation has reached [***] Landlord will be entitled to seek on behalf of
Tenant, a refund from Oncor of $[***] in security deposit funds.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">g.</TD><TD STYLE="text-align: left">Effective September 3, 2021, and continuing until a new Oncor
Substation is commissioned, Tenant must report to Landlord in writing on a weekly basis: (1) Tenant&rsquo;s average weekly load on circuit
1470, (2) Tenant&rsquo;s average weekly load on the Oncor Number Three Tie Circuit, (3) Tenant&rsquo;s forecasted average weekly load
on circuit 1470 for the upcoming 14 day period, and (4) Tenant&rsquo;s forecasted average weekly load on the Oncor Number Three Tie Circuit
for the upcoming 14 day period.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: left"><U>Accommodation by Landlord; No Representations by Landlord</U>.
The FEA and Fifth Amendment are being executed by Landlord strictly as an accommodation to Tenant to assist in mitigating the reductions
in the electric service provided to Tenant by Oncor. Tenant agrees to reimburse Landlord for any costs incurred by Landlord arising out
of the FEA. The execution of the FEA is not a contractual obligation of Landlord pursuant to the Lease or otherwise. Landlord makes no
representations or warranties of any kind concerning the (i) New Equipment to be installed by Oncor, (ii) the increase in the availability
of electric service capacity to Tenant as a result of the New Equipment or the FEA, (iii) the timing of the installation by Oncor of
the New Equipment, or (iv) the ability of Tenant to meet the criteria under the FEA for a refund of all or any portion of the security
deposit funded by Tenant. Tenant agrees to indemnify and hold Landlord harmless from any costs or damages incurred by Landlord as a result
of or related to this Fifth Amendment and the execution and implementation of the FEA (including, but not limited to, the failure of
Tenant to meet the Required Level of Operation (as defined in the FEA) by the Required Level of Operation Dates (as defined in the FEA)
on behalf of the Landlord).</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>Signature page to follow</I></P>

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

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

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">IN WITNESS WHEREOF, the parties have
caused this Fifth Amendment to be executed by their duly authorized officers, effective as of the date and year first above written.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.3in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">Landlord:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Alcoa USA Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2pt; padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; font: 10pt Times New Roman, Times, Serif">/s/ Mark A. Stiffler</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">9/15/2021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.3in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">Tenant:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Dory Creek LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Wenguang Wang</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Head of Global Mining Datacenter</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">2021/9/15</FONT></TD></TR>
  </TABLE>


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<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>8
<FILENAME>filename8.htm
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.11</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential information contained
in this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SIXTH AMENDMENT TO LEASE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">THIS SIXTH AMENDMENT TO LEASE (&#8220;Sixth
Amendment&#8221;), is effective on October 25, 2021 (&#8220;Effective Date&#8221;) by and between Alcoa USA Corp. (&#8220;Landlord&#8221;),
and Dory Creek LLC a wholly-owned subsidiary of Bitdeer Inc. (formerly known as Bitmain Inc) (&#8220;Tenant&#8221;), each a &#8220;Party&#8221;
and collectively &#8220;Parties.&#8221;</P>

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

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Landlord and Tenant are
parties to that certain Lease Agreement dated June 6, 2018, as amended by the First Amendment of Lease dated October 18, 2018, by the
Second Amendment of Lease dated May 1, 2019, by the Third Amendment of Lease dated May 11, 2021, by the Fourth Amendment to the Lease
dated May 11, 2021, and by the Fifth Amendment to Lease dated September 15, 2021 (together called the &#8220;Lease&#8221;), whereby Tenant
leased certain real estate and associated facilities owned by Landlord;</P>

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

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Oncor Electric Delivery
Company LLC (&#8220;Oncor&#8221;) is interconnected with and provides electric delivery service to the ONCOR Number 3 138kV Switchyard
Feed and Meter;</P>

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

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">WHEREAS, Landlord and Tenant
wish to amend certain terms of the Lease.</P>

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

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">NOW THEREFORE, in consideration
of the mutual promises herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties
agree to modify the Lease as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD>The Parties agree to add to the leased Premises: Buildings 27, 27F, 46, 145, and 145A, and the parking
lot as shown on the attached Exhibit A-1. Landlord will have access to all land and buildings being added to the Premises in accordance
with this Section to finalize the demolition project, including but not limited to removing any and all equipment, fixtures and appurtenances,
attached and not attached to the buildings. Tenant will cooperate with Landlord with respect to Landlord&#8217;s access and Landlord&#8217;s
demolition activities.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 66.55pt">&nbsp;</TD></TR>
                                </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">The Parties agree to amend Section 1.06 (a) as follows: The Fixed Rent will increase by $[***] per
month for a new monthly Fixed Rent total of $[***] and an annual Fixed Rent of $[***]
beginning on the Effective Date. The Fixed Rent is subject to the escalation provided in Section 1.06 (b) of the Lease.

</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">The Parties agree to remove from the leased Premises: the South Truck Parking and
Weight Scale Area, the South Parking Lot, the South Access Walkway and Internal Road, and the Tenant Office Trailer Parking.</TD></TR></TABLE>




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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: left">The Tenant must complete the upgrade as depicted in their artist rendering as
shown on the attached Exhibit E within 18 months from the Effective Date of this Sixth Amendment.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD>Tenant acknowledges the two sanitary sewage lift stations servicing Buildings 145 and Building 145A,
and the &#8220;72 Lift Station&#8221; near the intersection of Travis Street and Milam Street are not in working order and not electrically
powered. Tenant agrees to complete all necessary work to return all three lift stations and conveyance pipes to service to effectively
capture, contain, and transport all generated sanitary wastewater generated to the head of the sanitary wastewater treatment facility.
The Tenant shall not place said equipment in service until the Landlord inspects and provides written approval to do so. Once in service,
the Tenant will operate and maintain the equipment at their own cost and expense.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 65.2pt">&nbsp;</TD></TR>
                                                                                           </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.</TD><TD>The Parties agree to delete Number 2 on Exhibit D attached to the original lease and replace it with
the following: Exterior Skin/Side Panel Removal: Removal of wall panels up to existing eaves. Includes all equipment to access both walls
and roof hoods. All siding removed from the buildings will be disposed of by Tenant and replaced by siding of the same composition and
aesthetics at the end of the lease.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="padding-right: 84.35pt">Exhibit A-1 (Description of Premises) is hereby deleted in its entirety and is replaced with Exhibit
A-1 attached hereto.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 84.35pt">&nbsp;</TD></TR>
                              </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="padding-right: 81.15pt">Exhibit A-2 (Description of Buildings) is hereby deleted in its entirety and is replaced with Exhibit
A-2 attached hereto.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 81.15pt">&nbsp;</TD></TR>
                              </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">9.</TD><TD>Except as specifically amended herein, all other terms and conditions of the Lease remain in full force
and effect. This Sixth Amendment is binding upon the successors and assigns of the respective parties.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 55.7pt">&nbsp;</TD></TR>
                                                                                                                </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.</TD><TD>This Sixth Amendment may be executed in counterparts, each of which shall be deemed to be an original,
but which together shall be deemed to constitute a single document.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>Signature page to follow.</I></P>




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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt">IN WITNESS WHEREOF, the parties have
caused this Sixth Amendment to be executed by their duly authorized officers, effective as of the date and year first above written.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.3in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">Landlord:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Alcoa USA Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2pt; padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; font: 10pt Times New Roman, Times, Serif">/s/ Mark A. Stiffler</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">10/27/2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.3in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">Tenant:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Dory Creek LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Wenguang Wang</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Head of  Mining Datacenter</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.5in; text-align: right; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">2021/10/26</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">EXHIBIT A-1</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

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

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

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

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">EXHIBIT &nbsp;A-2</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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


<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">ARTIST&rsquo;S DEPICTION OF BUILDING UPGRADE</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

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    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>9
<FILENAME>filename9.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 10.12</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><I>Certain confidential information
contained in this document, marked by [***], has been omitted because such information is both not material and is the type that the
Company customarily and actually treats that as private or confidential.</I><B>&nbsp;</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Land Lease Agreement</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">This Land Lease Agreement
(</FONT><FONT STYLE="font-size: 10pt">&ldquo;<FONT STYLE="color: windowtext">Agreement</FONT>&rdquo;<FONT STYLE="color: windowtext">),
dated November 15<SUP>th</SUP>, 2019 (</FONT>&ldquo;<FONT STYLE="color: windowtext">Agreement Date</FONT>&rdquo;<FONT STYLE="color: windowtext">),
is entered between Norway Hash Technologies AS (</FONT>&ldquo;<FONT STYLE="color: windowtext">Customer</FONT>&rdquo;<FONT STYLE="color: windowtext">)
, a company existing under the laws of Norway with registration number 921254075 and Troll Housing AS (</FONT>&ldquo;<FONT STYLE="color: windowtext">Troll</FONT>&rdquo;<FONT STYLE="color: windowtext">)
a Norwegian corporation with registration number [***]. Collectively, Customer and Troll may be referred to herein as the </FONT>&ldquo;<FONT STYLE="color: windowtext">Parties</FONT>&rdquo;
<FONT STYLE="color: windowtext">and each individually as a </FONT>&ldquo;<FONT STYLE="color: windowtext">Party.</FONT>&rdquo;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Customer has contracted Troll to build
a 6MW data center in Fr&#1237;na municipality in Norway and want Troll to provide land for the datacenter.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">THEREFORE, in consideration of the mutual
covenants contained herein, and intending to be legally bound hereby, the Parties agree as follows:</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">Troll hereby agrees
to lease to Customer land for the Datacenter installation at Klempert&aring;sen in Fr&#1237;na municipality for the Customer</FONT><FONT STYLE="font-size: 10pt">&rsquo;<FONT STYLE="color: windowtext">s
data center of 6MW capacity (</FONT>&ldquo;<FONT STYLE="color: windowtext">Land</FONT>&rdquo;<FONT STYLE="color: windowtext">) and Customer
agrees pay land rent during the Term of the Agreement. The government permission including verification of Troll</FONT>&rsquo;<FONT STYLE="color: windowtext">s
rightfully disposal of the land covered by the lease is attached as Annex A.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Location and specification of Land</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">Location of the Land
is at address</FONT> <FONT STYLE="font-size: 10pt">Klempert&aring;svegen 1, 6440 Elnesv&aring;gen, <FONT STYLE="color: windowtext">Norway
and is located in two separate areas adjacent to eachother, one datacenter area which contains space for 12 Antbox containers (11 is
installed) and two transformer stations with a total capacity of [***], and another area which contains an office space with fiber patch
facilities, rack for management servers and network equipment, water, sewage etc, and both spaces are enclosed by fence and gate. The
area contains an access road from a public road and parking space.</FONT></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The land rent is calculated based on
the installed capacity (number of miners installed multiplied with their power consumption) of the datacenter. The unit price of rent
is NOK [***]. Example: If miners with a total power consumption are installed in the datacenter with [***], Troll will invoice
a land lease of [***] / month (calculated as [***].</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Invoice shall be produced by Troll Housing
monthly, the invoice of the first month shall be produced no later than 14 days prior to starting of the period, and payment should be
made within 7 days after receipt of the invoice.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Payment shall be made in NOK to the
following account:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%"><FONT STYLE="font-size: 10pt">Bank Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Bank address:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Recipient company name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Recipient company address:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">IBAN number:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Swift Code:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Warranties and Representations</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Troll undertakes that Customer shall
lawfully, peacefully and freely hold, occupy, use, operate, and enjoy the Land without disturbance, nuisance, or interference. Troll
undertakes that no third party shall have a right or claim to the Land during the Term of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Troll warrants and represents that it
has obtained all approvals from the government, the provincial/municipal authorities and all other applicable government agencies or
bodies, needed for Customer to lawfully enter into this Agreement and to use the Land for the purposes described in this Agreement at
all times during the Term of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Troll warrants and represents that it
is the lawful and sole user of Land during the Term of this Agreement and that there are no encumbrances, mortgages, liens or security
interests on the Land other than those created pursuant to this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Troll warrants and represents that the
Site is free from pollution, unexploded ordinances and environmental damage.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Customer shall have the right to erect
any sign related to its business on the condition that such signs comply with local law.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Term start December 1<SUP>st</SUP> 2019
and last until December 31<SUP>st</SUP> 2029. The agreement can be renewed within this period.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Both parties may terminate this Agreement
at any time upon mutual agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></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"><FONT STYLE="font-size: 10pt"><BR>
Customer has the right to terminate this Agreement, upon written notice to Troll, without penalty, under the following circumstances:
If Troll has failed to keep the power supply as defined in the Electric Power Supply Agreement between the Parties.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Except as aforesaid, the agreement can
be terminated by the Customer with one year notice for termination between 2019-2023, starting from the beginning of each month. In case
of termination in this period, 12 months of land lease corresponding to the maximum installed capacity at any time (number of miners
multiplied with their power consumption) at the time of termination, will be invoiced. If the agreement is terminated between 2024-2029,
notice of termination is one month starting from the beginning of each month, and 1 month of land lease will be invoiced.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Upon termination, Customer will remove
miners. Troll has the first right of refusal to buy the transformers at current market price at the time of termination.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Customer will bear the applicable Value
Added Tax (VAT) in connection with the provision of services by Troll under this agreement, computed in accordance with the Norwegian
Tax Act. Troll will produce VAT compliant invoices and supporting documents when necessary for the purpose of claiming VAT tax refund
by Customer.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Troll shall help Customer to apply for
VAT refund by providing advice on how to apply for the refund on a bi-monthly or yearly VAT refund program but takes no formal responsibility
in the application process and its outcome as this will be governed between Customer and Norwegian tax authority (Skatteetaten). If Customer
need external advice such as Auditor or Lawyer assistance, Customer will cover fees for such advice.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Any changes in Government fees related
to energy delivery, VAT or similar after signature of the contract will lead to an exact similar adjustment of price invoiced to Customer.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">The Receiving Party
shall: (a) hold the Disclosing Party</FONT><FONT STYLE="font-size: 10pt">&rsquo;<FONT STYLE="color: windowtext">s Confidential Information
in strict confidence and avoid the disclosure thereof to any third party by using the same degree of care as it uses to avoid the unauthorized
use or disclosure of its own Confidential Information of a similar nature, but not less than reasonable care; and (b) not use the Disclosing
Party</FONT>&rsquo;<FONT STYLE="color: windowtext">s Confidential Information for any purpose except as contemplated under this Agreement.
The Receiving Party shall restrict the possession and use of the Disclosing Party</FONT>&rsquo;<FONT STYLE="color: windowtext">s Confidential
Information to its personnel who have a need to know, and are bound by confidentiality obligations no less stringent than those contained
herein. The Receiving Party may disclose the Disclosing Party</FONT>&rsquo;<FONT STYLE="color: windowtext">s Confidential Information
as required by applicable law, provided the Receiving Party discloses only such information as is required by applicable law and, if
permitted by applicable law, uses reasonable efforts to notify the Disclosing Party of such disclosure in sufficient time to allow the
Disclosing Party to seek a protective order or similar confidential treatment. The Receiving Party shall promptly notify the Disclosing
Party of any facts known to such Party regarding any unauthorized disclosure or use of Confidential Information. Each Party acknowledges
that its breach of the obligations set forth in this Section may cause irreparable harm for which the other Party shall be entitled to
seek injunctive or other equitable relief. All Confidential Information of the Disclosing Party shall remain the exclusive property of
the Disclosing Party. No Party shall disclose the terms of this Agreement without the prior written consent of the other Parties, except
that each Party may make such disclosures as are necessary to enforce this Agreement or comply with applicable law.</FONT></FONT></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">For the purposes of all written communications
and notices between the Parties, their addresses shall be:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Norway Hash Technologies AS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">[***]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">[***]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">Att: </FONT><FONT STYLE="font-size: 10pt">[***]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Troll Housing AS</FONT></P>

<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">[***]</P>

<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"><FONT STYLE="font-size: 10pt; color: windowtext">Att:</FONT> <FONT STYLE="font-size: 10pt">[***]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">or any other addresses of which either
Party shall notify the other Party in writing.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Governing Law and Dispute Resolution</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">This Agreement is governed by and shall
construed in accordance with the laws of Norway. Any dispute, claim, question or difference arising out of or with respect to this Agreement
or its performance, enforcement, breach, termination or validity, will be amicably resolved by both Parties. Both parties agree to submit
the dispute which cannot be amicably settled to arbitration.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Magistrate of the Romsdal District
Court shall, in the event of arbitration, appoint the chairman of the arbitration tribunal. In addition, the parties, in consultation
with the appointed chairman, agree on the composition and proceedings of the arbitral tribunal in accordance with the provisions of the
Arbitration Act.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">The occurrence of
an event which materially interferes with the ability of a Party to perform its obligations or duties hereunder which is not within the
reasonable control of the Party affected or any of its Affiliates, and which could not with the exercise of Diligent Efforts have been
avoided (</FONT><FONT STYLE="font-size: 10pt">&ldquo;<FONT STYLE="color: windowtext">Force Majeure Event</FONT>&rdquo;<FONT STYLE="color: windowtext">),
including, but not limited to, war, rebellion, earthquake, fire, accident, strike, riot, civil commotion, act of God, inability to obtain
raw materials, delay or errors by shipping companies or change in Law, shall not excuse such Party from the performance of its obligations
or duties under this Agreement, but shall merely suspend such </FONT>performance during the Force Majeure Event. The Party subject to
a Force Majeure Event shall promptly notify the other Party of the occurrence and particulars of such Force Majeure Event and shall provide
the other Party, from time to time, with its best estimate of the duration of such Force Majeure Event and with notice of the termination
thereof. The Party so affected shall use Diligent Efforts to avoid or remove such causes of non-performance as soon as is reasonably
practicable. Upon termination of the Force Majeure Event, the performance of any suspended obligation or duty shall without delay recommence.
The Party subject to the Force Majeure Event shall not be liable to the other Party for any damages arising out of or relating to the
suspension or termination of any of its obligations or duties under this Agreement by reason of the occurrence of a Force Majeure Event,
provided such Party complies in all material respects with its obligations.</FONT></P>

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

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

<!-- Field: Page; Sequence: 4 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: windowtext">If Customer default
on the payments set out in this agreement, the Customer</FONT><FONT STYLE="font-size: 10pt">&rsquo;<FONT STYLE="color: windowtext">s
infrastructure equipment (transformers, general computers, network, Antboxes etc) can be used as collateral for payment, limited to the
value of the outstanding payment. Miners can not be used as collateral for payment.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The above-mentioned provision shall
not limit or preclude any remedies for breach of contract that the Parties may otherwise have.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">This Agreement may be executed in two
or more counterparts, each of which shall be deemed an original, but all of which shall constitute but one Agreement. Any executed counterpart
of this Agreement delivered by facsimile or other electronic transmission to a Party hereto shall constitute an original counterpart
of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">IN WITNESS WHEREOF,
the Parties have caused this Agreement to be duly executed and delivered by their respective authorized representatives as of the Agreement
Date stated in the first paragraph.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For and on behalf of Customer</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For and on behalf of Troll Housing
    AS</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Wang Wenguang</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Haakon Bryhni</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; padding-left: 0.2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Authorized
    Signature</I></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-left: 0.2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Authorized
    Signature</I></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Print Name: Wang Wenguang</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Print Name: Haakon Bryhni</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Board member</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: November 15<SUP>th</SUP>, 2019</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: November 15<SUP>th</SUP>, 2019</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[***]</P>

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

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

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<TYPE>EX-10.13
<SEQUENCE>10
<FILENAME>filename10.htm
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt">Exhibit 10.13</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential information contained
in this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Addendum 1 to Land Lease Agreement</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">This addendum dated December 6<FONT STYLE="font-size: 10pt">th</FONT>,
2020 (&quot;Addendum Date&quot;) to Land Lease Agreement (&#8220;Agreement&#8221;) between Norway Hash Technologies AS<FONT STYLE="font-family: Times New Roman, Times, Serif">&#65288;</FONT>&#8220;Customer&#8221;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#65289;</FONT>,
a company existing under the laws of Norway with registration number 921254075 and Troll Housing AS (&quot;Troll&quot;) a Norwegian corporation
with registration number [***] dated November 15<FONT STYLE="font-size: 10pt">th</FONT>, 2019.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Background</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Customer has contracted Troll to increase the capacity
of a data center in Fr&aelig;na municipality in Norway from [***] to [***] and want Troll to provide required land for the datacenter. THEREFORE,
in consideration of the mutual covenants contained herein, and intending to be legally bound hereby, the Parties agree this addendum as
follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Purpose</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Troll hereby agrees to lease to Customer land for the
Datacenter installation at Klempert&aring;sen in Fr&aelig;na municipality for the Customer&acute;s data center of 30MW capacity (&#8220;Land&#8221;)
and Customer agrees pay land rent during the Term of the Agreement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Location and specification of Land</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Location of the Land is at address Klempert&aring;svegen
1, 6440 Elnesv&aring;gen, Norway and is located in two separate [***] areas located adjacent to each other separated by a road for transport,
with a total of 54 Antbox containers and 13 transformer stations with a total capacity of [***], and an adjacent area which contains an
office space with workspace for Data center engineers, fiber patch facilities, rack for management servers, redundant power and network
equipment, water, sewage etc. The datacenter is enclosed by fence and gates. The area contains an access road from a public road and parking
space.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Land Rent</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Price of the land rent is adjusted from [***] to
[***] adjusted from January 1<FONT STYLE="font-size: 10pt">st</FONT> 2021.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Miscellaneous</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">This Addendum 1 shall be deemed to form part of the Agreement.
Subject to the provisions of this Addendum, the Agreement shall remain in full force and effect.</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-top: 0pt; margin-right: 9.65pt; margin-bottom: 0pt; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties have
caused this Addendum to be duly executed and delivered by their respective authorized representatives as of the Addendum Date stated in
the first paragraph.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif; width: 49%"><FONT STYLE="font-size: 10pt">For and on
    behalf of Customer</FONT></TD>
    <TD STYLE="background-color: White; width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White; width: 49%"><FONT STYLE="font-size: 10pt">For and on behalf of Troll Housing AS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White; font: 14pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; background-color: White">/s/ Wang Wenguang</TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; background-color: White"><FONT STYLE="font-size: 10pt">/s/ Haakon
    Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; background-color: White"><FONT STYLE="font-size: 10pt"><I>Authorized
    Signature</I></FONT></TD>
    <TD STYLE="text-align: left; background-color: White"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="text-align: left; background-color: White"><FONT STYLE="font-size: 10pt"><I>Authorized Signature</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Print Name: Wang Wenguang</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">Print Name: Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: December 6th, 2020</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">Date: December 6th, 2020</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 109.45pt 0pt 65pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.14
<SEQUENCE>11
<FILENAME>filename11.htm
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.3pt">Exhibit 10.14</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential information contained
in this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Addendum 2 to Land Lease Agreement</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-top: 0pt; margin-bottom: 0pt">This addendum dated March 22<FONT STYLE="font-size: 10pt">nd</FONT>,
2021 (&quot;Addendum Date&quot;) to Land Lease Agreement (&#8220;Agreement&#8221;) dated November 15<FONT STYLE="font-size: 10pt">th</FONT>,
2019 between Norway Hash Technologies AS (&#8220;Customer&#8221;), a company existing under the laws of Norway with registration
number [***] and Troll Housing AS (&quot;Troll&quot;) a Norwegian corporation with registration number 911678608.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Background</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 54.35pt 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Customer has contracted Troll to increase the capacity
of a data center in Fr&aelig;na municipality in Norway from 30MW to 67 MW and want Troll to provide required land for the 37MW expansion
of the datacenter. THEREFORE, in consideration of the mutual covenants contained herein, and intending to be legally bound hereby, the
Parties agree this addendum as follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Purpose</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Troll hereby agrees to lease to Customer land for the
Datacenter installation at Klempert&aring;sen in Hustadvika municipality for the Customer&acute;s data center expansion called Molde-3
([***]), Molde-4 ([***]) and Molde-5 ([***]) in total [***] additional capacity (&#8220;Land for Molde-3-4-5&#8221;)
and Customer agrees pay land rent during the Term of the Agreement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Location and specification of Land</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Location of the Land for Molde-3-4-5 is Klempert&aring;svegen
1, 6440 Elnesv&aring;gen, Norway and is located adjacent to the existing 30MW datacenter (called Molde-1 and Molde-2), with power and
cooling infrastructure for Antbox containers and corresponding 22kV-400V transformer stations. The datacenter is enclosed by fence and
gates. The area contains an access road from a public road.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Land Rent</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Price of the Land for Molde-3-4-5 rent is invoiced monthly
and split in two factors:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Monthly Rent 1: Land lease based on datacenter
capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***] of monthly datacenter capacity (example: when [***] capacity is built, corresponding to [***] capacity
in a 30-day month, [***] is invoiced for this month), plus</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Monthly Rent 2: Land lease dependent on energy use</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***] per monthly
amount of energy measured in kWh is used (example: when [***] is built, corresponding to [***] for a 30-day month, [***]
is invoiced),</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Note that this rent is in addition to the land lease for Molde-1 and Molde-2 as specified in Addendum 1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Example:
If power is turned off for Molde-3, Molde-4 and Molde-5 so no energy is consumed in a 30-day month, [***] is invoiced for land
rent for this month. If power is turned on and [***] is used for the entire 30-day month, [***] is invoiced for Molde-5-6-7 for
this month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.4pt 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.4pt 0pt 5.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.4pt 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Starting time of new land rent</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">When the construction of the Data Center expansions
(first Molde-3, then Molde-4 and Molde-5) is finished and delivered to Customer, and the expansion step pass the inspection before power-on,
and the power grid company completes the corresponding 132-22kV transformer upgrade, Troll will start to invoice the land lease for the
corresponding expansion.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Miscellaneous</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">This Addendum 2 shall be deemed to form part of the
Agreement. Subject to the provisions of this Addendum, the Agreement shall remain in full force and effect.</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-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have caused this Addendum to be duly executed and delivered by their respective authorized representatives as of the Addendum Date stated
in the first paragraph.</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif; width: 49%"><FONT STYLE="font-size: 10pt">For and on
    behalf of Customer</FONT></TD>
    <TD STYLE="background-color: White; width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White; width: 49%"><FONT STYLE="font-size: 10pt">For and on behalf of Troll Housing AS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White; font: 14pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 14pt Times New Roman, Times, Serif; text-align: left; background-color: White"><FONT STYLE="font-size: 10pt">/s/
    Wang Wenguang</FONT></TD>
    <TD STYLE="text-align: left; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; background-color: White"><FONT STYLE="font-size: 10pt">/s/ Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; background-color: White"><FONT STYLE="font-size: 10pt"><I>Authorized
    Signature</I></FONT></TD>
    <TD STYLE="text-align: left; background-color: White"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="text-align: left; background-color: White"><FONT STYLE="font-size: 10pt"><I>Authorized Signature</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Print Name: Wang Wenguang</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">Print Name: Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: March 22<SUP>nd</SUP>,
    2021</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">Date: March 22<SUP>nd</SUP>, 2021</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.2pt 0pt 11.3pt">&nbsp;</P>

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<TYPE>EX-10.15
<SEQUENCE>12
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0 0pt 5.3pt">Exhibit 10.15</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential information contained
in this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.3pt">&nbsp;</P>

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Addendum
3 to Land Lease Agreement</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">This addendum dated March 22<FONT STYLE="font-size: 10pt">nd</FONT>,
2021 (&quot;Addendum Date&quot;) to Land Lease Agreement (&#8220;Agreement&#8221;) dated November 15<FONT STYLE="font-size: 10pt">th</FONT>,
2019 between Norway Hash Technologies AS (&#8220;Customer&#8221;), a company existing under the laws of Norway with registration number
921254075 and Troll Housing AS (&quot;Troll&quot;) a Norwegian corporation with registration number [***].</P>

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

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

<P STYLE="text-align: justify; 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: left">Customer considers to increase capacity of their datacenters
in Norway, operated by Troll Housing AS and sister company Tydal Data Center AS, with a total capacity (&#8220;Total Load&#8221;). Customer
expects a reduction in Land lease as a function of Total Load and the Parties have agreed that this price reduction applies to expansion
and not to the existing 30MW datacenter called Molde-1 and Molde-2. The Land Lease for Molde-3, 4 and 5 is constructed by two factors,
Monthly Rent 1 and Monthly Rent 2. A similar Land Lease structure will be used for further capacity expansion as defined in this Addendum.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">THEREFORE, in consideration of the mutual covenants contained
herein, and intending to be legally bound hereby, the Parties agree this addendum as follows:</P>

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

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

<P STYLE="text-align: justify; 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: left">This agreement specifies a fixed Monthly Rent 1 (Land
lease based on datacenter capacity) and a rebate structure for Monthly Rent 2 (Land Lease dependent on energy use) as a function of Total
Load in combination of datacenter capacity in Troll Housing AS and sister company Tydal Data Center.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Land Rent volume rebate</P>

<P STYLE="text-align: justify; 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: left">Land Rent volume rebate for datacenter capacity more
than 30MW (called New Load, defined as sum of Datacenter capacity Molde-3, 4, 5 etc in Molde and datacenters in Tydal such as Tydal-1,2,
3 etc) is agreed as specified in Table 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 5.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 7pt; vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Molde 1-5 &amp; Tydal 1-3</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Example</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Energy volume
    (kWh) 30-day month</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: center; font-size: 7pt">Land Lease (NOK/kWh)</TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Sum invoiced</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Unit price adjustment<BR>
    range Based on capacity</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Capacity (MW)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Total load (Y)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">New Load</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Total (Y)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Fix Unit Price<BR>
    Based on<BR>
    capacity</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Monthly Rent
    1<BR> (NOK)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Floating<BR>
    Unit Price<BR> Based on use</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Monthly <BR>
    Rent 2<BR> (NOK)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Monthly Rent<BR>
    (NOK)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 5%">Fix</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; width: 13%">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">[***]</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 7pt Times New Roman, Times, Serif">Floating</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 5.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Table 1: Definition of Monthly Rent 1 and Monthly Rent
2 as function of Total Load</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">In Table 1, some examples of New Load are provided
and Monthly Rent 1 and 2 is calculated for this additional capacity. The corresponding Total Load (Y) is defined as the current load
in Molde-1-2, called X, plus New Load. The sum invoiced from the combination of Land Lease in both datacenters in Molde and Tydal is
provided in the last column called &#8220;Monthly Rent&#8221;. This rent includes both existing Molde-1-2 (X) and the agreed expansion
(New Load). Note that rent for capacity in Molde is invoiced from Troll Housing AS, while capacity in Tydal is invoiced from sister company
Tydal Data Center AS.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.2pt 0pt 5.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.2pt 0pt 5.3pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.2pt 0pt 5.3pt; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 0; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Use of land</P>

<P STYLE="text-align: justify; text-indent: 0; 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: left; text-indent: 0">If Customer is no longer using the allocated energy
and want to keep the power allocation from the local grid company to the datacenter, the grid company may require that the connection
fee (currently NOK [***] / kWh installed capacity) is paid to keep the allocation. If and when such requirement is received from local
grid company, Troll will invoice and Customer will pay the connection fee similar to normal operation to keep the allocation, except the
purchase of energy and green certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin: 0pt 0">If Customer reduces the use of energy, the connection
fee for the mandatory price increase by the grid company will be borne by Customer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin: 0pt 0">If Customer stops using the load for more than two years,
Troll has the right to terminate the land lease Land Lease Agreement. If Troll terminates the Land Lease Agreement using this clause,
Customer does not need to pay the Land Lease fee after termination date.</P>

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

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

<P STYLE="text-align: justify; text-indent: 0; 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: left; text-indent: 0">This Addendum 3 shall be deemed to form part of the
Agreement. Subject to the provisions of this Addendum, the Agreement shall remain in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties have
caused this Addendum to be duly executed and delivered by their respective authorized representatives as of the Addendum Date stated in
the first paragraph.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 49%"><FONT STYLE="font-size: 10pt">For and on behalf of Customer</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-size: 10pt">For and on behalf of Troll Housing AS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Wang Wenguang</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Authorized Signature</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Authorized Signature </I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Print Name: Wang Wenguang</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Print Name: Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: March 22<SUP>nd</SUP>, 2021</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Date: March 22<SUP>nd</SUP>, 2021</FONT></TD></TR>
  </TABLE>


<P STYLE="text-indent: 0; 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-indent: 0"><I></I></P>

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

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

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

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

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

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



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

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<TYPE>EX-10.16
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">Exhibit 10.16</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential information contained in this
document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.</I></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Land Lease Agreement</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">This Land Lease Agreement (&#8220;Agreement&#8221;),
dated April 8<FONT STYLE="font-size: 10pt">th</FONT>, 2021 (&quot;Agreement Date&quot;), is entered between Norway Hash Technologies AS
(&#8220;Customer&#8221;), a company existing under the laws of Norway with address c/o Javelin Corporate Services AS, Fridtjof Nansens
plass 7, 0160 OSLO, Norway and Tydal Data Center AS (&quot;Tydal Data Center&quot;) a Norwegian corporation under establishment with address
Sponglia 12, 7590 Tydal, Norway. Collectively, Customer and Tydal Data Center may be referred to herein as the &#8220;Parties&#8221; and
each individually as a &#8220;Party&#8221;.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Customer has contracted Tydal Data Center to build a 40MW
data center in Tydal municipality in Norway called &#8220;Tydal-1&#8221; and want Tydal Data Center to provide land for the datacenter.
Later expansions called &#8220;Tydal-2&#8221;, &#8220;Tydal-3&#8221;, etc. are planned.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">THEREFORE, in consideration of the mutual covenants contained
herein, and intending to be legally bound hereby, the Parties agree as follows:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Tydal Data Center hereby agrees to lease to Customer land
for the Datacenter installation at Kirkvollen Industrial Area in Tydal municipality for the Customer&acute;s data center of 40MW capacity
(&#8220;Land for Tydal-1&#8221;) and Customer agrees pay land rent during the Term of the Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">This agreement specifies a fixed Monthly Rent 1 (Land
lease based on datacenter capacity) and Monthly Rent 2 (Land Lease dependent on energy use), and a rebate structure for Monthly Rent 2
as a function of Total Load in combination of capacity in Tydal Data Center and sister company Troll Housing AS.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Location and specification of Land</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Location of the Land for Tydal-1 is at Kirkvollen Industriomr&aring;de,
7590 Tydal, Norway and is located at Lot #2a as specified by the zoning regulation number [***] and shall have sufficient space
for installation of Antbox and corresponding 22kV-400V transformers with a total capacity of [***], including an area which contains office
space for Data center engineers, fiber patch facilities, rack for management servers, redundant power and network equipment, water, sewage
etc. The datacenter is enclosed by fence and gates. The area contains an access road from a public road and parking space.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Land
Rent for Tydal-1 is invoiced monthly and split in two factors:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Monthly Rent 1: Land lease based on datacenter capacity.</P>




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

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[***] of monthly datacenter capacity (example: when [***] capacity is built, corresponding to [***] capacity in a 30-day
month, [***] is invoiced for this month), plus</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Monthly Rent 2: Land lease
dependent on energy use [***] per monthly amount of energy measured in kWh (example: when [***] is built, corresponding to 28 [***] for a 30-day month, [***] is invoiced),</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Example: If power is turned off
for Tydal-1 so no energy is consumed in a 30-day month, [***] is invoiced for land rent for this month. If power is turned on and
[***] is used for the entire 30-day month, [***] is invoiced for Tydal-1 for this month.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Note that this rent is in addition to the land lease for
datacenter Molde-1-5 as specified in a separate agreement with sister company Troll Housing AS and potential expansion such as Tydal-2,
Tydal-3 etc in Tydal Data Center.</P>

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

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Starting time of new land rent</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">When the construction of the Data Center expansion (for
example Tydal-1) is finished and delivered to Customer, and the expansion pass the inspection before power-on, and the power grid company
completes the corresponding 132kV-22kV transformer upgrade, Tydal Data Center will start to invoice the land lease for the corresponding
expansion.</P>

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

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Land Rent volume rebate</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Customer considers increasing
capacity of their datacenters in Norway, operated by Tydal Data Centre and sister company Troll Housing AS with a total capacity (&#8220;Total
Load&#8221;). Customer expects a reduction in Land lease as a function of Total Load and the Parties have agreed that this price reduction
applies to expansion and not to the existing 30MW datacenter called Molde-1 and Molde-2. The Land Lease for expansion such as Tydal-1
is constructed by two factors, Monthly Rent 1 and Monthly Rent 2. A similar Land Lease structure will be used for further capacity expansion
as defined in Table 1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Land Rent volume rebate for datacenter capacity more than
[***] (called New Load, is defined as sum of Datacenter capacity Molde-3, 4, 5 etc in Molde and datacenters in Tydal such as Tydal-1,2,
3 etc) is agreed as shown in Table 1.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 7pt; vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Molde 1-5 &amp; Tydal 1-3</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Example</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Energy volume
    (kWh) 30-day month</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: center; font-size: 7pt">Land Lease (NOK/kWh)</TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center">Sum invoiced</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font-size: 7pt">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Unit price adjustment<BR>
    range Based on capacity</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Capacity (MW)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Total load (Y)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">New Load</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Total (Y)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Fix Unit Price<BR>
    Based on<BR>
    capacity</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Monthly Rent
    1<BR> (NOK)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Floating<BR>
    Unit Price<BR> Based on use</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Monthly <BR>
    Rent 2<BR> (NOK)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Monthly Rent<BR>
    (NOK)</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 7%">Fix</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="width: 6%; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify; padding-left: 1pt">[***]</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font-size: 7pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; padding-left: 1pt">[***]</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">Floating</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify; padding-left: 1pt">[***]</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif; padding-left: 1pt">[***]</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; width: 12%; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; font-size: 7pt">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify; padding-left: 1pt">[***]</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="text-align: justify; font: 7pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right; padding-left: 1pt">[***]</TD><TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Table 1: Definition of Monthly Rent 1 and Monthly Rent 2
as function of Total Load</I></P>

<P STYLE="text-align: justify; font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">In Table 1, some examples of New Load are
provided and Monthly Rent 1 and 2 is calculated for this additional capacity. The corresponding Total Load (Y) is calculated as the
current load in Molde-1-2, called X, plus New Load. The sum invoiced from the combination of Land Lease in both datacenters in Molde
and Tydal is provided in the last column called &#8220;Monthly Rent&#8221;. This rent includes both existing Molde-1-2 (X) and the
agreed expansion (New Load). Note that rent for capacity in Tydal is invoiced from Tydal Data Center AS, while rent for capacity in
Molde is invoiced from sister company Troll Housing AS.</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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    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Use of land</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; text-align: left; margin: 0pt 0">If Customer is no longer using the allocated energy and
want to keep the power allocation from the local grid company to the datacenter, the grid company may require that the connection fee
(currently [***] installed capacity) is paid to keep the allocation. If and when such requirement is received from local grid
company, Troll will invoice and Customer will pay the connection fee similar to normal operation to keep the allocation, except the purchase
of energy and green certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">If Customer reduces the use of energy, the connection
fee for the mandatory price increase by the grid company will be borne by Customer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">If Customer stops using the load for more than two years,
Tydal Data Center has the right to terminate the Land Lease Agreement. If Tydal Data Center terminates the Land Lease Agreement using
this clause, Customer does not need to pay the Land Lease fee after termination date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">If the full area available for datacenter at Tydal Data
Center is not built and there is no active development project with order for capacity expansion for Customer, Tydal Data Center AS has
the right to use remaining land not used by Customer for other use.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Invoice shall be produced by Tydal Data Center monthly,
the invoice of the first month shall be produced no later than 14 days prior to starting of the period, and payment should be made within
7 days after receipt of the invoice.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Payment shall be made in NOK to the following account:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%">Bank Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Bank address:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Recipient company name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Recipient company address:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">IBAN number:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Swift Code:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">[***]</TD></TR>
  </TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Warranties and Representations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Tydal Data Center undertakes that Customer shall lawfully,
peacefully and freely hold, occupy, use, operate, and enjoy the Land without disturbance, nuisance, or interference. Tydal Data Center
undertakes that no third party shall have a right or claim to the Land during the Term of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Tydal Data Center warrants and represents that it has
obtained all approvals from the government, the provincial/municipal authorities and all other applicable government agencies or bodies,
needed for Customer to lawfully enter into this Agreement and to use the Land for the purposes described in this Agreement at all times
during the Term of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Tydal Data Center warrants and represents that it is the
lawful and sole user of Land during the Term of this Agreement and that there are no encumbrances, mortgages, liens or security interests
on the Land other than those created pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Tydal Data Center warrants and represents that the Site
is free from pollution, unexploded ordinances and environmental damage.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Customer shall have the right to erect any sign related
to its business on the condition that such signs comply with local law.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Term starts April 1<FONT STYLE="font-size: 10pt">st</FONT>
2021 and last until March 31<FONT STYLE="font-size: 10pt">st</FONT> 2031. The agreement can be renewed within this period.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Both parties may terminate this Agreement at any time upon
mutual agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Customer has the right to terminate this Agreement, upon
written notice to Tydal Data Center, without penalty, under the following circumstances: If Tydal Data Center has failed to keep the power
supply as defined in the Electric Power Supply Agreement between the Parties (except for interruptions caused by temporary substation
failure/upgrade/ maintenance by local grid company).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Except as aforesaid, the agreement
can be terminated on one year notice by the Customer by paying the remaining Land Lease every month of the remaining Term, based on datacenter
capacity for the number of remaining years of the agreement and installed capacity at the time of termination, multiplied with Monthly
Rent 1. Example: If the Land Lease agreement is terminated on March 31, 2027, termination takes effect on March 31, 2028 and [***] will be paid monthly by Customer for the remaining 36 months of the Term .</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Upon termination, Customer will remove miners. Tydal Data
Center has the first right of refusal to buy the transformers at current market price at the time of termination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Customer will bear the applicable Value Added Tax (VAT)
in connection with the provision of services by Tydal Data Center under this agreement, computed in accordance with the Norwegian Tax
Act. Tydal Data Center will produce VAT compliant invoices and supporting documents when necessary for the purpose of claiming VAT tax
refund by Customer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Tydal Data Center shall help Customer to apply for VAT
refund by providing advice on how to apply for the refund on a bi-monthly or yearly VAT refund program but takes no formal responsibility
in the application process and its outcome as this will be governed between Customer and Norwegian tax authority (Skatteetaten). If Customer
need external advice such as Auditor or Lawyer assistance, Customer will cover fees for such advice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Any changes in Government fees related to energy delivery,
VAT or similar after signature of the contract will lead to an exact similar adjustment of price invoiced to Customer.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Confidentiality.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The Receiving Party shall: (a) hold the Disclosing Party&#8217;s
Confidential Information in strict confidence and avoid the disclosure thereof to any third party by using the same degree of care as
it uses to avoid the unauthorized use or disclosure of its own Confidential Information of a similar nature, but not less than reasonable
care; and (b) not use the Disclosing Party&#8217;s Confidential Information for any purpose except as contemplated under this Agreement.
The Receiving Party shall restrict the possession and use of the Disclosing Party&#8217;s Confidential Information to its personnel who
have a need to know, and are bound by confidentiality obligations no less stringent than those contained herein. The Receiving Party may
disclose the Disclosing Party&#8217;s Confidential Information as required by applicable law, provided the Receiving Party discloses only
such information as is required by applicable law and, if permitted by applicable law, uses reasonable efforts to notify the Disclosing
Party of such disclosure in sufficient time to allow the Disclosing Party to seek a protective order or similar confidential treatment.
The Receiving Party shall promptly notify the Disclosing Party of any facts known to such Party regarding any unauthorized disclosure
or use of Confidential Information. Each Party acknowledges that its breach of the obligations set forth in this Section may cause irreparable
harm for which the other Party shall be entitled to seek injunctive or other equitable relief. All Confidential Information of the Disclosing
Party shall remain the exclusive property of the Disclosing Party. No Party shall disclose the terms of this Agreement without the prior
written consent of the other Parties, except that each Party may make such disclosures as are necessary to enforce this Agreement or comply
with applicable law.</P>

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

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

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

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">For
the purposes of all written communications and notices between the Parties, their addresses shall be:</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">[***]</FONT></P>

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

<P STYLE="text-align: justify; font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">[***]</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">or any other addresses of which either Party shall notify the
other Party in writing.</P>

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

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Governing Law and Dispute Resolution</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">This Agreement is governed by and
shall construed in accordance with the laws of Norway. Any dispute, claim, question or difference arising out of or with respect to this
<FONT STYLE="font-family: Times New Roman, Times, Serif">A</FONT>greement or its performance, enforcement, breach, termination or validity,
will be amicably resolved by both Parties. Both parties agree to submit the dispute which cannot be amicably settled to arbitration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The Magistrate of the S&oslash;r-Tr&oslash;ndelag District
Court shall, in the event of arbitration, appoint the chairman of the arbitration tribunal. In addition, the parties, in consultation
with the appointed chairman, agree on the composition and proceedings of the arbitral tribunal in accordance with the provisions of the
Arbitration Act.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Force Majeure</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The occurrence of an event
which materially interferes with the ability of a Party to perform its obligations or duties hereunder which is not within the
reasonable control of the Party affected or any of its Affiliates, and which could not with the exercise of Diligent Efforts have
been avoided (&#8220;Force Majeure Event&#8221;), including, but not limited to, war, rebellion, earthquake, fire, pandemic,
accident, strike, riot, civil commotion, act of God, inability to obtain raw materials, delay or errors by shipping companies or
change in Law, shall not excuse such Party from the performance of its obligations or duties under this Agreement, but shall merely
suspend such performance during the Force Majeure Event. The Party subject to a Force Majeure Event shall promptly notify the other
Party of the occurrence and particulars of such Force Majeure Event and shall provide the other Party, from time to time, with its
best estimate of the duration of such Force Majeure Event and with notice of the termination thereof. The Party so affected shall
use Diligent Efforts to avoid or remove such causes of non-performance as soon as is reasonably practicable. Upon termination of the
Force Majeure Event, the performance of any suspended obligation or duty shall without delay recommence. The Party subject to the
Force Majeure Event shall not be liable to the other Party for any damages arising out of or relating to the suspension or
termination of any of its obligations or duties under this Agreement by reason of the occurrence of a Force Majeure Event, provided
such Party complies in all material respects with its obligations.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Default</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">If Customer default on the payments set out in this agreement,
the Customer&acute;s infrastructure equipment (transformers, general computers, network, Antboxes etc) can be used as collateral for payment,
limited to the value of the outstanding payment. Miners can not be used as collateral for payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The above-mentioned provision shall not limit or preclude
any remedies for breach of contract that the Parties may otherwise have.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which shall constitute but one Agreement. Any executed counterpart of this Agreement
delivered by facsimile or other electronic transmission to a Party hereto shall constitute an original counterpart of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties have
caused this Agreement to be duly executed and delivered by their respective authorized representatives as of the Agreement Date stated
in the first paragraph.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 49%"><FONT STYLE="font-size: 10pt">For and on behalf of Customer</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-size: 10pt">For and on behalf of Tydal Data Center AS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Wang Wenguang</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Authorized Signature</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Authorized Signature</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Print Name: Wang Wenguang</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Print Name: Haakon Bryhni</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: April 8<SUP>th</SUP>, 2021</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Date: March 8<SUP>th</SUP>, 2021</FONT></TD></TR>
  </TABLE>


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

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<P STYLE="margin-top: 0; margin-right: 0; margin-bottom: 0">&nbsp;</P>

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<TYPE>EX-10.17
<SEQUENCE>14
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.17&nbsp;</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: left"><I>Certain confidential information contained in
this document, marked by [***], has been omitted because such information is both not material and is the type that the Company customarily
and actually treats that as private or confidential.&nbsp;</I></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>COMMERCIAL PURCHASE AND SALE AGREEMENT</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Purchase and Sale.</B> For and in consi<FONT STYLE="font-style: normal; font-weight: normal">deration
                                            of the mutual covenants herein and other good and valuable consideration, the receipt and
                                            sufficiency of which is hereby acknowledged, the undersigned buyer Bitmain Inc. or Assigns
                                            (&ldquo;Buyer&rdquo;) agrees to buy and the undersigned seller KEMET Foil Manufacturing LLC
                                            (FKA Cornell Dublilier, Foil, LLC) (&ldquo;Seller&rdquo;) agrees to sell all that tract or
                                            parcel of land, with such improvements as are located thereon, described as follows: All
                                            that tract of land known as: 5101 S. National Drive (Address) Knoxville (City), Ten</FONT>nessee,
                                            37914 (Zip), as recorded in Knox County Register of Deeds Office, <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                            </U>&nbsp;deed book(s),&#8239;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                            </U>&nbsp;page(s), and/or <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                            </U> &nbsp;instrument no. and as further described as: <FONT STYLE="font-style: normal; font-weight: normal">approximately
                                            9.88 acres improved with a 77,678 square foot industrial building together with all fixtures,
                                            landscaping, improvements, and appurtenances, all being hereinafter collectively referred
                                            to as the &ldquo;Property&rdquo;, as more particularly described in Exhibit&nbsp;&ldquo;A&rdquo;
                                            or if Exhibit&nbsp;A is not attached as is recorded with the Register of Deeds of the county
                                            in which the Property is located and is made a part of this Commercial Purchase and Sale
                                            Agreement (&ldquo;Purchase and Sale Agreement&rdquo; or &ldquo;Agreement&rdquo;) by reference.</FONT></TD></TR></TABLE>

<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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Purchase Price. </B>T<FONT STYLE="font-style: normal; font-weight: normal">he total purchase price for the Property shall be
                                        [***] (&ldquo;Purchase Price&rdquo;), and is subject to all prorations and adjustments and shall be paid by Buyer at the Closing by
                                        cash, a Federal Reserve Bank wire transfer of immediately available funds, cashier&rsquo;s check or certified check.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Earnest Money/Trust Money. </B><FONT STYLE="font-style: normal; font-weight: normal">Buyer has paid or will pay within 5
                                        business days after the Binding Agreement Date, the sum of [***] with Tennessee Valley Title (&ldquo;Holder&rdquo;) located at 800 S
                                        Gay St #1700, Knoxville, TN 37929 (Address of Holder). Additional Earnest Money/Trust Money, if any, to be tendered and applied as
                                        follows:</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 0pt 0.25in">This sum (&ldquo;Earnest Money/Trust Money&rdquo;) is to
be applied as part of the Purchase Price at Closing.</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 0pt 0.25in"><B>A. Failure to Receive Earnest Money/Trust Money. </B>In
the event Earnest Money/Trust Money is not timely received by Holder or Earnest Money/Trust Money check or other instrument is not honored
for any reason by the financial institution from which it is drawn, Holder shall promptly notify Buyer and Seller. Buyer shall have three
(3)&nbsp;business days after notice to deliver good funds to Holder. In the event Buyer does not timely deliver good funds to Holder,
this Agreement shall automatically terminate and Holder shall notify the parties of the same. Holder shall disburse Earnest Money/Trust
Money only as follows:</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 0pt 0.65in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at Closing
to be applied as a credit toward Buyer&rsquo;s Purchase Price;</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 0pt 0.65in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;upon a subsequent
written agreement signed by Buyer and Seller; or</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 0pt 0.65in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as set forth
below in the event of a dispute regarding Earnest Money/Trust Money.</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 0pt 0.25in">No party shall seek damages from Holder, nor shall Holder
be liable for any such damages, and all parties agree to defend and hold harmless Holder for any matter arising out of or related to
the performance of Holder&rsquo;s duties hereunder.</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 0pt 0.25in"><B>B. Disputes Regarding Earnest Money/Trust Money. </B>In
the event Buyer or Seller notifies Holder of a dispute regarding disposition of Earnest Money/Trust Money that Holder cannot resolve,
Buyer and Seller agree to interplead Earnest Money/Trust Money into a court of competent jurisdiction. Holder shall be reimbursed for,
and may deduct from any funds interpleaded, its costs and expenses, including reasonable attorney&rsquo;s fees. The prevailing party
in the interpleader action shall be entitled to collect from the other party the costs and expenses reimbursed to Holder, and upon payment
of such funds into the court clerk&rsquo;s office, Holder shall be released from all further liability in connection with the funds delivered.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.45in"><B>4.</B></TD><TD><B>Inspection. </B></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.45in"><B>5.</B></TD><TD><B>Title.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.2in"></TD><TD STYLE="width: 0.3in"><B>A.</B></TD><TD><B>Warranties of Seller. </B>Seller warrants that at Closing
                                            Seller shall convey good and marketable, fee simple title to the Property to Buyer, subject
                                            only to the following exceptions (&ldquo;Permitted Exceptions&rdquo;):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Liens for ad valorem taxes not yet due and payable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Those exceptions to which Buyer does not object or which Buyer waives
                                            in accordance with the Title Issues and Objections paragraph below. &ldquo;Good and marketable,
                                            fee simple title&rdquo; with respect to the Property shall be such title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 1.1in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>as is classified as &ldquo;marketable&rdquo; under the laws of Tennessee;
                                            and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 1.1in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>as is acceptable to and insurable by a title company doing business
                                            in Tennessee (&ldquo;Title Company&rdquo;), at standard rates on an American Land Title Association
                                            Owner&rsquo;s Policy (&ldquo;Title Policy&rdquo;).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.3in; text-align: left"><B>B.</B></TD><TD STYLE="text-align: justify"><B>Title Issues and Objections. </B><FONT STYLE="font-style: normal; font-weight: normal">Buyer
shall have 5 days after the Binding Agreement Date to furnish Seller with a written statement of any title objections, UCC-1 or UCC-2
Financing Statements, and encroachments, and other facts affecting the marketability of the Property as revealed by a current title examination.
Seller shall have 5 days</FONT> after the receipt of such objections (the &ldquo;Title Cure Period&rdquo;) to cure all valid title objections.
Seller shall satisfy any existing liens or monetary encumbrances identified by Buyer as title objections which may be satisfied by the
payment of a sum certain prior to or at Closing. Except for Seller&rsquo;s obligations in the preceding sentence, if Seller fails to
cure any other valid title objections of Buyer within the Title Cure Period (and fails to provide Buyer with evidence of Seller&rsquo;s
cure satisfactory to Buyer and to Title Company), then within five (5)&nbsp;days after the expiration of the Title Cure Period, Buyer
may as Buyer&rsquo;s sole remedies: (1)&nbsp;rescind the transaction contemplated hereby, in which case Buyer shall be entitled to the
return of Buyer&rsquo;s Earnest Money/Trust Money; (2)&nbsp;waive any such objections and elect to Close the transaction contemplated
hereby irrespective of such title objections and without reduction of the Purchase Price; or (3)&nbsp;extend the Closing Date period
for a period of up to fifteen (15) days to allow Seller further time to cure such valid title objections. Failure to act in a timely
manner under this paragraph shall constitute a waiver of Buyer&rsquo;s rights hereunder. Buyer shall have the right to reexamine title
prior to Closing and notify Seller at Closing of any title objections which appear of record after the date of Buyer&rsquo;s initial
title examination and before Closing.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.3in"><B>6.</B></TD><TD><B>Closing.</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.3in"><B>A.</B></TD><TD><B>Closing Date. </B><FONT STYLE="font-style: normal; font-weight: normal">This
                                            transaction shall be consummated at the office of Tennessee Valley Title on March 12th, 2018,
                                            (the &ldquo;Closing Date&rdquo;) or at such other time and place(s)&nbsp;the parties may
                                            agree upon in writing.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.3in"><B>B.</B></TD><TD><B>Possession. </B>Seller shall deliver possession and occupancy
                                            of the Property to Buyer at Closing, subject only to the rights of tenants in possession
                                            and the Permitted Exceptions.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><B>7.</B></TD><TD><B>Seller&rsquo;s Obligations at Closing. </B><FONT STYLE="font-style: normal; font-weight: normal">At
                                            Closing, Seller shall deliver to Buyer: </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.25in"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">a Closing Statement;</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">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">deed (mark the appropriate
                                            deed below)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 92%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-left: 0.75in">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 30%"><FONT STYLE="font-family: Wingdings"><B>&#120;</B></FONT><B>&#8239;</B>General Warranty Deed</TD>
  <TD STYLE="width: 70%"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Special Warranty Deed</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 92%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-left: 0.75in">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 30%"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Quit Claim Deed</TD>
  <TD STYLE="width: 70%"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Other: ______________________________________</TD></TR>
</TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: left">all documents which Seller must execute
                                            under the terms of this Agreement to cause the Title Company to deliver to Buyer the Title
                                            Policy including, without limitation, a title affidavit from Seller to Buyer and to the Title
                                            Company in the form customarily used in Tennessee commercial real estate transactions so
                                            as to enable the Title Company to issue Buyer the Title Policy with all standard exceptions
                                            deleted and subject only to Permitted Exceptions; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: left">evidence reasonably satisfactory to Buyer
                                            at Closing of all documents/items indicated in Exhibit &ldquo;C&rdquo;, if any (all documents
                                            to be delivered by Seller under this paragraph, including all documents/items indicated in
                                            Exhibit &ldquo;C&rdquo; are collectively &ldquo;Seller&rsquo;s Closing Documents&rdquo;).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.3in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Conditions to
                                            Closing.</B></TD>
</TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.3in; text-align: left"><B>9.</B></TD><TD STYLE="text-align: justify"><B>Costs.</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in"><B>A.</B></TD><TD STYLE="text-align: left"><B>Seller&rsquo;s Costs. </B>Seller
                                            shall pay all existing loans and/or liens affecting the Property; the cost of recording any
                                            title curative documents, including without limitation, satisfactions of deeds to secure
                                            debt, quitclaim deeds and financing statement termination; any accrued and/or outstanding
                                            association dues or fees; fee (if any) to obtain lien payoff/estoppel letters/statement of
                                            accounts from any and all associations, property management companies, mortgage holders or
                                            other liens affecting the Property; all deed recording fees; the fees of Seller&rsquo;s counsel
                                            and, <B>if checked, <FONT STYLE="font-family: Wingdings">&#168;</FONT> all transfer taxes,
                                            </B>otherwise Buyer is responsible for transfer taxes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.55in; text-align: justify; color: #3C3B41"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.55in; text-align: left; color: #3C3B41"><B>In
the event Seller is subject to Tax Withholding as required by the Foreign Investment in Real Property Tax Act, (hereinafter &ldquo;FIRPTA&rdquo;),
Seller additionally agrees that such Tax Withholding must be collected from Seller by Buyer&rsquo;s Closing Agent at the time of Closing.
</B>In the event Seller is not subject to FIRPTA, Seller shall be required as a condition of Closing to sign appropriate affidavits certifying
that Seller is not subject to FIRPTA. <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>It is Seller&rsquo;s responsibility
to seek independent tax advice or counsel prior to the Closing Date regarding such tax matters.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.55in; text-align: justify; color: #3C3B41"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in"><B>B.</B></TD><TD STYLE="text-align: justify"><B>Buyer&rsquo;s Costs. </B>Buyer
                                            shall pay the cost of Buye&rsquo;s counsel and consultants; any costs in connection with
                                            Buyer&rsquo;s inspection of the Property and any costs associated with obtaining financing
                                            for the acquisition of the Property (including any intangibles tax, all deed recording fees
                                            and the cost of recording Buyer&rsquo;s loan documents.)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in"><B>C.</B></TD><TD STYLE="text-align: justify"><B>Additional Costs. </B>In addition
                                            to the costs identified above, the following costs shall be paid by the parties hereto as
                                            indicated below:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.6in; color: #3C3B41">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.55in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41"><B><U>Item to be
    Paid</U></B></FONT></TD>
    <TD STYLE="text-align: center; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41"><B><U>Paid
    by Seller</U></B></FONT></TD>
    <TD STYLE="text-align: center; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41"><B><U>Paid
    by Buyer</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41">Survey</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41">Title Examination</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41">Premium for Standard Owner&rsquo;s
    Title Insurance Policy</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41">Other: ___________________________________</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41">Other: ___________________________________</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3C3B41">Other: ___________________________________</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #3C3B41">&#168;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.6in; color: #3C3B41">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.3in; text-align: left"><B>10.</B></TD><TD STYLE="text-align: left"><B>Taxes and Prorations.
                                            </B>Real estate taxes on the Property for the calendar year in which the Closing takes place
                                            shall be prorated as of 12:01 a.m. local time on the Closing Date. Seller shall be responsible
                                            (even after Closing) for paying all taxes (including previous reassessments) on the Property
                                            for the time period during which Seller owned the Property and shall indemnify the Buyer
                                            therefore. In addition, the following items shall also be prorated as of 12:01 a.m. local
                                            time on the Closing Date <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>[Select
                                            only those that apply to this transaction; the items not checked do not apply to this Agreement]:</I></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; color: #3C3B41">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse; margin-left: 0.55in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Wingdings">&#120;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Utilities</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Wingdings">&#120;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;Service
    Contracts</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;Tenant
    Improvement Costs</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;Rents
    </FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leasing
    Commissions</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;Other:
    </FONT>_______________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Wingdings">&#168;</FONT> &nbsp;&nbsp;&nbsp;Other: _______________________________________</TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;Other:
    </FONT>_______________________________________</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.1in">&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; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0in"></TD><TD STYLE="width: 0.3in; text-align: justify"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Representations
                                            and Warranties.</B></TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.3in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>A.</B></FONT></TD><TD STYLE="text-align: left"><B>Seller&rsquo;s
                                            Representations and Warranties. </B>As of the Binding Agreement Date and the Closing Date,
                                            Seller represents and warrants to Buyer that Seller has the right, power, and authority to
                                            enter into this Agreement and to convey the Property in accordance with the terms and conditions
                                            of this Agreement. The persons executing this Agreement on behalf of Seller have been duly
                                            and validly authorized by Seller to execute and deliver this Agreement and shall have the
                                            right, power, and authority to enter into this Agreement and to bind Seller. Seller also
                                            makes the additional representations and warranties to Buyer, if any, as indicated on Exhibit
                                            &ldquo;D&rdquo;.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.3in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>B.</B></FONT></TD><TD STYLE="text-align: left"><B>Buyer&rsquo;s
                                            Representations and Warranties. </B>As of the Binding Agreement Date and the Closing Date,
                                            Buyer represents and warrants to Seller that Buyer has the right, power, and authority to
                                            enter into this Agreement and to consummate the transaction contemplated by the terms and
                                            conditions of this Agreement. The persons executing this Agreement on behalf of Buyer have
                                            been duly and validly authorized by Buyer to execute and deliver this Agreement and shall
                                            have the right, power, and authority to enter into this Agreement and bind Buyer. Upon Seller&rsquo;s
                                            request, Buyer shall furnish such documentation evidencing signor&rsquo;s authority to bind
                                            Buyer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.1in"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #3C3B41; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0in"></TD><TD STYLE="width: 0.3in; text-align: justify"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Agency
                                            and Brokerage.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.35in"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: justify"><B>A.</B></TD><TD STYLE="text-align: justify"><B>Agency.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.35in"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></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="text-align: justify; width: 0.6in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">In
                                            th</FONT>is Agreement, the term &ldquo;Broker&rdquo; shall mean a licensed Tennessee real
                                            estate broker or brokerage firm and, where the context would indicate, the Broker&rsquo;s
                                            affiliated licensees. No Broker in this transaction shall owe any duty to Buyer or Seller
                                            greater that what is set forth in their brokerage engagements, the Tennessee Real Estate
                                            Broker License Act of 1973, as amended, and the Tennessee Real Estate Commission rules and
                                            regulations.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="text-align: left">A
                                            Designated Agent is one who has been assigned by his/her Managing Broker and is working as
                                            an agent for the Seller or Buyer in a prospective transaction, to the exclusion of all other
                                            licensees in his/her company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify">(3)</TD><TD STYLE="text-align: left">An
                                            Agent for the Seller or Buyer is a type of agency in which the licensee&rsquo;s company is
                                            working as an agent for the Seller or Buyer and owes primary loyalty to that Seller or Buyer.</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify">(4)</TD><TD STYLE="text-align: left">A
                                            Facilitator relationship occurs when the licensee is not working as an agent for either party
                                            in this consumer&rsquo;s prospective transaction. A Facilitator may advise either or both
                                            of the parties to a transaction but cannot be considered a representative or advocate for
                                            either party. &ldquo;Transaction Broker&rdquo; may be used synonymously with, or in lieu
                                            of, &ldquo;Facilitator&rdquo; as used in any disclosures, forms or agreements. [By law, any
                                            licensee or company who has not entered into a written agency agreement with either party
                                            in the transaction is considered a Facilitator or Transaction Broker until such time as an
                                            agency agreement is established.]</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify">(5)</TD><TD STYLE="text-align: left">A
                                            dual agency situation arises when an agent (in the case of designated agency) or a real estate
                                            firm (wherein the entire real estate firm represents the client) represents both the Buyer
                                            and Seller.</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify">(6)</TD><TD STYLE="text-align: left">If
                                            one of the parties is not represented by a Broker, that party is solely responsible for their
                                            own interests, and that Broker&rsquo;s role is limited to performing ministerial acts for
                                            the unrepresented party.</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: justify"><B>B.</B></TD><TD STYLE="text-align: justify"><B>Agency
                                            Disclosure.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.85in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify">(1)</TD><TD STYLE="text-align: left">The
                                            Broker, if any, working with the Seller is identified on the signature page as the &ldquo;Listing
                                            Company&rdquo;; and said Broker is (Select One. The items not selected are not part of this
                                            Agreement):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.85in"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">the
                                            Designated Agent for the Seller,</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings; color: #3c3b41">&#168;</FONT></TD><TD STYLE="text-align: justify">the
                                            agent for the Seller,</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings; color: #3c3b41">&#168;</FONT></TD><TD STYLE="text-align: justify">a
                                            Facilitator for the Seller, OR</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings; color: #3c3b41">&#168;</FONT></TD><TD STYLE="text-align: justify">a
                                            dual agent.</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: justify">(2)</TD><TD STYLE="text-align: left">The
                                            Broker, if any, working with the Buyer is identified on the signature page as the &ldquo;Selling
                                            Company&rdquo;, and said Broker is (Select One. The items not selected are not part of this
                                            Agreement):</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">the
                                            Designated Agent for the Buyer,</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings; color: #3c3b41">&#168;</FONT></TD><TD STYLE="text-align: justify">the
                                            agent for the Buyer,</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>

<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings; color: #3c3b41">&#168;</FONT></TD><TD STYLE="text-align: justify">a
                                            Facilitator for the Buyer, OR</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.85in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings; color: #3c3b41">&#168;</FONT></TD><TD STYLE="text-align: justify">a
                                            dual agent.</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>(3)</B></TD><TD STYLE="text-align: justify"><B>Dual Agency Disclosure. </B><I>[Applicable only if dual agency
has been selected above] </I>Seller and Buyer are aware that Broker is acting as a dual agent in this transaction and consent to the
same. Seller and Buyer have been advised that:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.85in; text-align: justify; text-indent: -0.25in">&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: 1.1in"></TD><TD STYLE="width: 0.2in">1.</TD><TD>In serving as a dual agent the Broker is representing two clients whose
                                            interests are, or at times could be, different or even adverse.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                        </TABLE>

<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: 1.1in"></TD><TD STYLE="width: 0.2in">2.</TD><TD STYLE="text-align: left">The Broker will disclose all adverse, material
                                            facts relevant to the transaction, and actually known to the dual agent, to all parties in
                                            the transaction except for information made confidential by request or instructions from
                                            another client which is not otherwise required to be disclosed by law.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                     </TABLE>

<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: 1.1in"></TD><TD STYLE="width: 0.2in">3.</TD><TD STYLE="text-align: justify">The Buyer and Seller do not have to consent
                                            to dual agency, and</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                                                       </TABLE>

<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: 1.1in"></TD><TD STYLE="width: 0.2in">4.</TD><TD STYLE="text-align: left">The consent of the Buyer and Seller to dual
                                            agency has been given voluntarily and the parties have read and understand their brokerage
                                            engagement agreements.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                     </TABLE>

<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: 1.1in"></TD><TD STYLE="width: 0.2in">5.</TD><TD STYLE="text-align: left">Notwithstanding any provision to the contrary
                                            contained herein, Seller and Buyer each hereby direct Broker, if acting as a dual agent,
                                            to keep confidential and not reveal to the other party any information which could materially
                                            and adversely affect their negotiating position unless otherwise prohibited by law.</TD></TR></TABLE>

<P STYLE="margin: 0">&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: 0.7in">&nbsp;</TD><TD STYLE="width: 0.3in"><B>(4)</B></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>Material
                                            Relationship Disclosure.</B> [Required with dual Agency] The Broker and/or affiliated licensees
                                            have no material relationship with either client except as follows: _________________________________.
                                            A material relationship means one of a personal, familial or business nature between the
                                            Broker and affiliate licensees and a client which would impair their ability to exercise
                                            fair judgment relative to another client.</FONT></TD></TR>
                                                                                                        </TABLE>

<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 0pt 2.05in">Seller Initials _______________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buyer
Initials&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.05in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>C.</B></TD><TD STYLE="text-align: justify"><B>Brokerage. </B>Seller agrees to pay Listing Broker at Closing
the compensation specified by separate agreement. The Listing Broker will direct the closing agency/attorney to pay the Selling Broker,
from the commission received, an amount, if any, in accordance with the terms and provisions specified by separate agreement. The parties
agree and acknowledge that the Brokers involved in this transaction may receive compensation from more than one party. All parties to
this Agreement agree and acknowledge that any real estate firm involved in this transaction shall be deemed a third party beneficiary
only for the purposes of enforcing their commission rights, and as such, shall have the right to maintain an action on this Agreement
for any and all compensations due and any reasonable attorney&rsquo;s fees and court costs.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.6in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.35in; text-align: left; text-indent: -0.2in"><B>13.
Disclaimer. </B>It is understood and agreed that the real estate firms and real estate licensee(s) representing or assisting Seller or
Buyer and their brokers (collectively referred to as &ldquo;Brokers&rdquo;) are not parties to this Agreement and do not have or assume
liability for the performance or nonperformance of Seller or Buyer. Buyer and Seller agree that Brokers shall not be responsible for
any of the following, including but not limited to, those matters which could have been revealed through a survey, title search or inspection
of the Property; the insurability of the Property or cost to insure the Property; for the condition of the Property, any portion thereof,
or any item therein; for any geological issues present on the Property; for any issues arising out of Buyer&rsquo;s failure to physically
inspect the Property prior to entering into this Agreement and/or Closing; for building products and construction techniques; for the
necessity or cost of any repairs to the Property; for hazardous or toxic materials; for the tax or legal consequences of this transaction;
for the availability, capability, and/or cost of utility, sewer, septic, or community amenities; for proposed or pending condemnation
actions involving the Property; for applicable boundaries of school districts or other school information; for the appraised or future
value of the Property; for any condition(s) existing off the Property which may affect the Property; for the terms, conditions and availability
of financing; and for the uses and zoning of the Property whether permitted or proposed. Buyer and Seller acknowledge that Brokers are
not experts with respect to the above matters and that they have not relied upon any advice, representations or statements of Brokers
(including their firms and affiliated licensees) and waive and shall not assert any claims against Brokers (including their firms and
affiliated licensees) involving same. Buyer and Seller understand that it has been strongly recommended that if any of these or any other
matters concerning the Property are of concern to them, that they secure the services of appropriately credentialed experts and professionals
of Buyer&rsquo;s or Seller&rsquo;s choice for the independent expert advice and counsel relative thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.35in; text-align: justify; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.35in; text-align: left; text-indent: -0.2in"><B>14.
Destruction of Property Prior to Closing. </B>If the Property is destroyed or substantially destroyed prior to Closing, Seller shall
give Buyer prompt notice thereof, which notice shall include Seller&rsquo;s reasonable estimate of: (1) the cost to restore and repair
the damage; (2) the amount of insurance proceeds, if any, available for the same; and (3) whether the damage will be repaired prior to
Closing. Upon notice to Seller, Buyer may terminate this Agreement within seven (7) days after receiving such notice from Seller. If
Buyer does not terminate this Agreement, Buyer shall be deemed to have accepted the Property with the damage and shall receive at Closing
(1) any insurance proceeds which have been paid to Seller but not yet spent to repair the damage and (2) an assignment of all unpaid
insurance proceeds on the claim. Buyer may request in writing, and Seller shall provide within five (5) business days, all documentation
necessary to confirm insurance coverage and/or payment or assignment of insurance proceeds.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><B>15. Other Provisions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in">&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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>A.</B></TD><TD STYLE="text-align: left"><B>Exhibits, Binding Effect, Entire
                                            Agreement, Modification, Assignment, and Binding Agreement Date. </B>This Agreement shall
                                            be for the benefit of, and be binding upon, the parties hereto, their heirs, successors,
                                            legal representatives and assigns. This Agreement constitutes the sole and entire agreement
                                            between the parties hereto and no modification of this Agreement shall be binding unless
                                            signed by all parties or assigns to this Agreement. No representation, promise, or inducement
                                            not included in this Agreement shall be binding upon any party hereto. Any assignee shall
                                            fulfill all the terms and conditions of this Agreement. It is hereby agreed by both Buyer
                                            and Seller that any real estate agent working with or representing either party shall not
                                            have the authority to bind the Buyer, Seller or any assignee to any contractual agreement
                                            unless specifically authorized in writing within this Agreement. The parties hereby authorize
                                            either licensee to insert the time and date of the receipt of notice of acceptance of the
                                            final offer and further agree to be bound by such as the Binding Agreement Date following
                                            the signatory section of this Agreement, or Counter Offer, if applicable.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD><B>&nbsp;</B></TD><TD><B>B.</B></TD><TD STYLE="text-align: justify"><B>Survival Clause.</B></TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                         </TABLE>

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65in"></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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>C.</B></TD><TD STYLE="text-align: left"><B>Governing Law and Venue. </B>This
                                            Agreement is intended as a contract for the purchase and sale of real property and shall
                                            be interpreted in accordance with the laws and in the courts of the State of Tennessee.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                         </TABLE>

<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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>D.</B></TD><TD STYLE="text-align: justify"><B>Time of Essence. </B>Time is
                                            of the essence in this Agreement.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                                                                 </TABLE>

<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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>E.</B></TD><TD STYLE="text-align: left"><B>Terminology. </B>As the context
                                            may require in this Agreement: (1) the singular shall mean the plural and vice versa; (2)
                                            all pronouns shall mean and include the person, entity, firm, or corporation to which they
                                            relate; (3) the feminine shall mean the masculine and vice versa; and (4) the term day(s)
                                            used throughout this Agreement shall be deemed to be calendar day(s) ending at 11:59 p.m.
                                            local time unless otherwise specified in this Agreement. Local time is to be determined by
                                            the location of the Property. All references to time are deemed to be local time. <B>In the
                                            event a performance deadline, </B>other than the Closing Date (as defined in paragraph six
                                            (6) herein), Day of Possession (as defined in paragraph six (6) herein), and Offer Expiration
                                            date (as defined in paragraph nineteen (19) herein), occurs on a Saturday, Sunday or legal
                                            holiday, the performance deadline shall be extended to the next following business day. Holidays
                                            as used herein are those days deemed federal holidays pursuant to 5 U.S.C. &sect; 6103. In
                                            calculating any time period under this Agreement, the commencement day shall be the day following
                                            the initial date (e.g. Binding Agreement Date).</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      </TABLE>

<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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>F.</B></TD><TD STYLE="text-align: left"><B>Responsibility to cooperate. </B>Buyer
                                            and Seller agree to timely take such actions and produce, execute, and/or deliver such information
                                            and documentation as is reasonably necessary to carry out the responsibilities and obligations
                                            of this Agreement. Except as to matters which are occasioned by clerical errors or omissions
                                            or erroneous information, the approval of the Closing documents by the parties shall constitute
                                            their approval of any differences between this Agreement and the Closing. The Buyer and Seller
                                            agree that if requested after Closing they will correct any documents and pay any amounts
                                            due where such corrections or payments are appropriate by reason of mistake, clerical errors
                                            or omissions, or the result of erroneous information.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                     </TABLE>

<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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>G.</B></TD><TD STYLE="text-align: left"><B>Notices. </B>Except as otherwise
                                            provided herein, all notices and demands required or permitted hereunder shall be in writing
                                            and delivered either (1) in person, (2) by a prepaid overnight delivery service, (3) by facsimile
                                            transmission (FAX), (4) by the United States Postal Service, postage prepaid, registered
                                            or certified return receipt requested or (5) Email. <B>NOTICE </B>shall be deemed to have
                                            been given as of the date and time it is actually received. Receipt of notice by the real
                                            estate licensee or their Broker assisting a party as a client or customer shall be deemed
                                            to be notice to that party for all purposes under this Agreement as may be amended, unless
                                            otherwise provided in writing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65in; text-align: justify">&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: 0.4in"></TD><TD STYLE="width: 0.25in"><B>H.</B></TD><TD STYLE="text-align: left"><B>Remedies. </B>In the event of a
                                            breach of this Agreement, the non-breaching party may pursue all remedies available at law
                                            or in equity except where the parties have agreed to arbitrate. Notwithstanding the above,
                                            if Buyer breaches Buyer&rsquo;s obligations or warranties herein Seller shall have the option
                                            to request that Holder pay the Earnest Money/Trust Money to Seller, which if disbursed to
                                            Seller by Holder shall constitute liquidated damages in full settlement of all claims by
                                            Seller. Such liquidated damages are agreed to by the parties not to be a penalty and to be
                                            a good faith estimate of Seller&rsquo;s actual damages, which damages are difficult to ascertain.
                                            In the event that any party hereto shall file suit for breach or enforcement of this Agreement
                                            (including suits filed after Closing which are based on or related to the Agreement), the
                                            prevailing party shall be entitled to recover all costs of such enforcement, including reasonable
                                            attorney&rsquo;s fees. The parties hereby agree that all remedies are fair and equitable and neither
                                            party will assert the lack of mutuality of remedies as a defense in the event of a dispute.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.35in"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>I.</B></FONT></TD><TD STYLE="text-align: justify"><B>Equal
                                            Opportunity. </B><FONT STYLE="font-family: Times New Roman, Times, Serif">This Property is
                                            being sold without regard to race, color, sex, religion, handicap, familial status, or national
                                            origin.</FONT></TD></TR></TABLE>



<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: 0.35in"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>J.</B></FONT></TD><TD STYLE="text-align: left"><B>Termination
                                            by Buyer. </B><FONT STYLE="font-family: Times New Roman, Times, Serif">In the event that
                                            Buyer legally and properly invokes his right to terminate this Agreement under any of the
                                            provisions contained herein, Buyer shall pay the sum of one hundred dollars ($100.00) to
                                            Seller as consideration for Buyer&rsquo;s said right to terminate, the sufficiency and adequacy
                                            of which is hereby acknowledged. Earnest Money/Trust Money shall be disbursed according to
                                            the terms stated herein.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 0.9in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>K.</B></FONT></TD><TD STYLE="text-align: left"><B>Severability.
                                            </B><FONT STYLE="font-family: Times New Roman, Times, Serif">If any portion or provision
                                            of this Agreement is held or adjudicated to be invalid or unenforceable for any reason, each
                                            such portion or provision shall be severed from the remaining portions or provisions of this
                                            Agreement, and the remaining portions or provisions shall be unaffected and remain in full
                                            force and effect.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 0.9in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>L.</B></FONT></TD><TD STYLE="text-align: left"><B>Construction.
                                            </B><FONT STYLE="font-family: Times New Roman, Times, Serif">This Agreement or any uncertainty
                                            or ambiguity herein shall not be construed against any party but shall be construed as if
                                            all parties to this Agreement jointly prepared this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9in 0pt 0.4in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in; text-align: left"><B>16.</B></TD><TD STYLE="text-align: left"><B>Exhibited and
                                            Addenda. </B>All exhibits and/or addenda attached hereto, listed below, or referenced herein
                                            are made a part of this Agreement. If any such exhibit or addendum conflicts with any preceding
                                            paragraph, said exhibit or addendum shall control:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9in 0pt 0.4in; text-align: justify; text-indent: -0.25in">&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; text-align: justify">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.35in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">Exhibit
                                            &ldquo;A&rdquo; Legal Description</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.35in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Exhibit
                                            &ldquo;B&rdquo; Due Diligence Documents</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.35in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Exhibit
                                            &ldquo;C&rdquo; Addition to Seller&rsquo;s Closing Documents</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.35in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Exhibit
                                            &ldquo;D&rdquo; Seller&rsquo;s Warranties and Representations</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.35in; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit &ldquo;A-2&rdquo;
Property Condition Survey</B> &nbsp;</P>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in; text-align: left"><B>17.</B></TD><TD STYLE="text-align: justify"><B>Special Stipulations.
                                            </B>The following Special Stipulations, if conflicting with any preceding paragraph, shall
                                            control:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.35in; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: normal">Remove
entire &ldquo;Inspection&rdquo; paragraph, lines 46 - 60.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.35in; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: normal">Remove
entire &ldquo;Survival Clause&rdquo; paragraph, lines 263 - 266.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.35in; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: normal">Buyer
expressly acknowledges that, except as expressly provided herein, the Property is being sold and accepted AS IS, WHERE-IS, WITH ALL FAULTS,
and Seller makes no representations or warranties, express or implied, with respect to the physical condition or any other aspect of
the Real Property.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&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; text-align: justify">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 0.35in; text-align: left"><FONT STYLE="font-family: Wingdings"><B>&#168;</B></FONT></TD><TD STYLE="text-align: justify"><B>(Mark
                                            box if additional pages are attached.)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9in 0pt 0.4in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in; text-align: left"><B>18.</B></TD><TD STYLE="text-align: left"><B>Method of Execution.
                                            </B>The parties agree that signatures and initials transmitted by a facsimile, other photocopy
                                            transmittal, or by transmittal of digital signature as defined by the applicable State or
                                            Federal Law will be acceptable and may be treated as originals and that the final Commercial
                                            Purchase and Sale Agreement containing all signatures and initials may be executed partially
                                            by original signature and partially on facsimile, other photocopy documents, or by digital
                                            signature as defined by the applicable State or Federal Law.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>19.</B></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Time
                                            Limit of Offer.</B> <FONT STYLE="font-style: normal">This Offer may be withdrawn at any time
                                            before acceptance with Notice. Offer terminates if not countered or accepted by 5:00 o&rsquo;clock
                                            </FONT></FONT><FONT STYLE="font-family: Wingdings; font-style: normal">&#168;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal">a.m./
                                            </FONT><FONT STYLE="font-family: Wingdings; font-style: normal">&#120;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal">p.m.
                                            local time on the 26th day of February, 2018.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>LEGAL DOCUMENTS: This is an important legal document
creating valuable rights and obligations. If you have any questions about it, you should review it with your attorney. Neither the Broker
nor any Agent or Facilitator is authorized or qualified to give you any advice about the advisability or legal effect of its provisions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTE:
Any provisions of this Agreement which are preceded by a box </B></FONT>&ldquo;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&rdquo;
<B>must be marked to be a part of this Agreement. By affixing your sigature below, you also acknowledge that you have reviewed each page
and have received a copy of this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify">&nbsp;</P>

<DIV STYLE="border: Black 1pt solid; padding-right: 15pt; padding-left: 15pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Buyer hereby makes this offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;</FONT></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 COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">/s/ Xiaojing Guo</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>BUYER </B><FONT STYLE="font-style: normal; font-weight: normal">Xiaojing
  Guo</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>BUYER</B></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 5%"><B>By:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 44%">&nbsp;&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 2%">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 5%"><B>By:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 44%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  </TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  </TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Title:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-left: 10pt">General Manager</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Title:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Entity:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-left: 10pt">Bitmain Inc.</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Entity:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"></TD></TR>
<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">02/25/2018 at <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;o&rsquo;
  clock <FONT STYLE="font-family: Wingdings">&#168;</FONT> am/ <FONT STYLE="font-family: Wingdings">&#120;</FONT> pm</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;at&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </U>&nbsp;o&rsquo; clock <FONT STYLE="font-family: Wingdings">&#168;</FONT> am/ <FONT STYLE="font-family: Wingdings">&#168;</FONT> pm </TD></TR>
<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Offer Date</B></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Offer Date</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify">&nbsp;</P>

<DIV STYLE="border: Black 1pt solid; padding-right: 15pt; padding-left: 15pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify"><B>ACCEPTS
                                            </B> &ndash; accepts this offer.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><B>COUNTERS
                                            </B> &ndash; accepts this offer subject to the attached Counter Offer(s).</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><B>REJECTS
                                            </B>this offer and makes no counter offer.</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"></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 COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">/s/ Maryann Fulton</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>SELLER</B></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>SELLER</B></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 5%"><B>By:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 44%">&nbsp;&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 2%">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 5%"><B>By:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 44%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  </TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  </TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Title:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-left: 10pt">Manager</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Title:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Entity:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-left: 10pt"><FONT STYLE="text-transform: uppercase">kemet </FONT><FONT STYLE="text-transform: capitalize">foil
  manufacturing</FONT> <FONT STYLE="text-transform: uppercase">llc, fka </FONT><FONT STYLE="text-transform: capitalize">cornell Dublilier</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Entity:</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"></TD></TR>
<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">02/26/2018 at 4 o&rsquo;clock <FONT STYLE="font-family: Wingdings">&#168; </FONT>am/ <FONT STYLE="font-family: Wingdings">&#120;</FONT>
  pm</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;at&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </U>&nbsp;o&rsquo; clock <FONT STYLE="font-family: Wingdings">&#168;</FONT> am/ <FONT STYLE="font-family: Wingdings">&#168;</FONT> pm</TD></TR>

<TR STYLE="vertical-align: top">
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Date</B></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>&nbsp;</B></TD>
  <TD COLSPAN="2" STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><B>Date</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.1in; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Binding Agreement Date. </B>This instrument shall
become a &ldquo;Binding Agreement&rdquo; on the date (&ldquo;Binding Agreement Date&rdquo;) the last offeror, or licensee of offeror,
receives notice of offeree&rsquo;s acceptance. Notice of acceptance of the final offer was <FONT STYLE="font-family: Times New Roman, Times, Serif">received
on the _________ day of <FONT STYLE="font-style: normal; font-weight: normal">February, 2018</FONT></FONT> at ___________ o&rsquo;clock
by _______________________________ (Name).</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-top: Black 1.5pt solid; vertical-align: top; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For Information
    Purposes Only:</FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; width: 49%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baker
    Realty Company</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Avison
    Young</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Listing Company</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling Company</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">[***]</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">[***]</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Licensee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Licensee</FONT></TD>
    </TR>
  <TR>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt">[***]@bakerrealtycompany.com</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt">[***]@avisonyoung.com</TD></TR>
  <TR>
    <TD>Licensee Email</TD>
    <TD>&nbsp;</TD>
    <TD>Licensee Email</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><I>NOTE: This form is provided by TAR to its members
for their use in real estate transactions and is to be used as is. By downloading and/or using this form, you agree and covenant not
to alter, amend, or edit said form or its contents except as where provided in the blank fields, and agree and acknowledge that any such
alteration, amendment or edit of said form is done at your own risk. Use of the TAR logo in conjunction with any form other than standardized
forms created by TAR is strictly prohibited. This form is subject to periodic revision and it is the responsibility of the member to
use the most recent available form.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 8 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KGIS
- Property Map and Details Report</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
Condition Survey for: 5101 S National Drive</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[***]</FONT></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 0.15in 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.15in 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<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"></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>15
<FILENAME>filename15.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #262324">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #262324"><B>Exhibit 10.18</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #262324">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; color: #262324"><I>Certain
confidential information contained in this document, marked by [***], has been omitted because such information is both not material
and is the type that the Company customarily and actually treats that as private or confidential.</I></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: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; color: #262324"><B>QUITCLAIM DEED</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 0pt 0.25in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THIS
INDENTURE </B></FONT>made as of this 20th day of March, 2018, between <B>BITMAIN,&nbsp;INC., a Delaware corporation, </B>First
Party, and <B>CARPENTER CREEK, LLC, a Tennessee limited liability company, </B>Second Party:</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; color: #262324"><B>WITNE SSETH:</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 0pt 0.25in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #262324"><B>THAT
SAID FIRST PARTY, </B></FONT><FONT STYLE="color: #262324">for and in consideration of the sum of <B>ONE <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AND
</FONT>NO/100 ($1.00) DOLLAR, </B>and other good and valuable consideration, to it in hand paid by said Second Party, the receipt of which
is hereby acknowledged, has bargained, sold, remised</FONT><FONT STYLE="color: #494d4b">, </FONT><FONT STYLE="color: #262324">released
and <B>QUITCLAIMED, </B>and does by these presents bargain, sell, remise, release and <B>QUITCLAIM </B>unto Second Party all of First
Party's right</FONT><FONT STYLE="color: #494d4b">, </FONT><FONT STYLE="color: #262324">title and interest in and to the following described
premises, to-wit:</FONT></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-top: 0pt; margin-bottom: 0pt; text-align: center; color: #262324"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SEE
EXHIBIT&nbsp;&quot;A&quot; ATTACHED HERETO </B></FONT><B><FONT STYLE="font-size: 10pt">AND </FONT>MADE A PART&nbsp;HEREOF</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 0pt 0.25in; text-align: justify; text-indent: 0.5in">With
the hereditaments and appurtenances thereto appertaining, hereby releasing all claims therein to the said Second Party, its successors
and assigns forever.</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 0pt 0.25in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #262324">Whenever
in this instrument a pronoun is used it shall be construed to represent either singular or plural, as the case may demand</FONT><FONT STYLE="color: #494d4b">.</FONT></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 0pt 0.25in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #262324"><B>IN
WITNESS </B></FONT><B><FONT STYLE="color: #262324">WHEREOF, </FONT></B><FONT STYLE="color: #262324">the said First Party has caused this
instrument to be executed as of the day and year first above written</FONT><FONT STYLE="color: #494d4b">.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">BITMAIN,&nbsp;INC., a Delaware
    corporation</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Xiaojing Guo</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">General Manager</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">COUNTERSIGNED</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">KNOX COUNTY PROPERTY ACCESSOR</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">MAR 22 2018</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">BY </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ JOHN R. WHITEHEAD</FONT></TD>
    </TR>
  </TABLE>


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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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3f3f41"><B>EXHIBIT </B></FONT><B><FONT STYLE="color: #4f4f50">A</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #262324">[***]</P>

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

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<TYPE>EX-10.19
<SEQUENCE>16
<FILENAME>filename16.htm
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.19</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>Certain confidential
information contained in this document, marked by [***], has been omitted because such information is both not material and is the type
that the Company customarily and actually treats that as private or confidential.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VACANT LAND PURCHASE AND SALE AGREEMENT SPECIFIC
TERMS</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 3%">1.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 5%">Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; width: 23%"><FONT STYLE="font-style: normal; font-weight: normal">August&nbsp;3,
    2017</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 8%; text-align: left">MLS No.:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 20%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">NA</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 15%; text-align: left">Offer Expiration Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; width: 20%"><FONT STYLE="font-style: normal; font-weight: normal">August&nbsp;4,
    2017</FONT></TD></TR>
  </TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt"><B>Buyer:</B></FONT></TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
                                                                                                       <TD STYLE="text-align: center; width: 30%"><FONT STYLE="font-style: normal; font-weight: normal">ANTCREEK,
                                            LLC</FONT></TD>
                                                                                                       <TD STYLE="text-align: center; width: 30%"><FONT STYLE="font-style: normal; font-weight: normal">NA</FONT></TD></TR>
                                                                                                                                                                                           </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD><B>Seller:</B></TD>
                                                                             <TD COLSPAN="3" STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-style: normal; font-weight: normal">BLACKHAWK
                                            DEVELOPMENT INC</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 7%">&nbsp;</TD>
                                                                             <TD STYLE="text-align: center; width: 30%">&nbsp;</TD>
                                                                             <TD STYLE="text-align: center; width: 30%">&nbsp;</TD>
                                                                             <TD STYLE="text-align: center; width: 30%">&nbsp;</TD></TR>
                                                                                                                                                                  </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%; text-align: left"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: justify; width: 43%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Property:
                                            </B></FONT><FONT STYLE="font-size: 10pt">Legal Description attached as Exhibit&nbsp;A. Tax
                                            Parcel No(s).:&nbsp; </FONT></TD>
                                                                              <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 17%"><FONT STYLE="font-size: 10pt">PP
                                            93700000002</FONT></TD>
                                                                              <TD STYLE="text-align: justify; width: 1%"><FONT STYLE="font-size: 10pt">,
                                            </FONT></TD>
                                                                              <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 17%">&#8239;</TD>
                                                                              <TD STYLE="padding-bottom: 1pt; text-align: justify; width: 1%"><FONT STYLE="font-size: 10pt">,</FONT></TD>
                                                                              <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 17%">&nbsp;</TD>
                                                                              <TD STYLE="text-align: right; width: 1%">,&nbsp;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"></TD><TD STYLE="border-bottom: Black 1pt solid">BLA of Parent Parcel 93700000002, East Wenatchee, WA 98802</TD>
                                                                                                       </TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>Address &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City
               &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State
               &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZIP</TD>
                                                                                                       </TR>
                                                                                                                                                                                                                            <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center">See counter offer addendum</TD></TR>
                                                                                                                                                                                                                            </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="width: 12%"><FONT STYLE="font-size: 10pt"><B>Purchase
                                            Price:</B></FONT></TD>
                                                                             <TD STYLE="text-align: right; padding-bottom: 1pt; width: 2%">$</TD>
                                                                             <TD STYLE="border-bottom: Black 1pt solid; width: 27%"><FONT STYLE="font-style: normal; font-weight: normal">XXXXXXXXXX</FONT></TD>
                                                                                                       <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 28%">&nbsp;</TD>
                                                                                                       <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 22%">&nbsp;</TD>
                                                                                                       <TD STYLE="text-align: right; width: 6%"><FONT STYLE="font-size: 10pt">Dollars</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 3%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">6.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 10%; text-align: left; padding-bottom: 1pt">Earnest
    Money:&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">[***]</TD><TD STYLE="white-space: nowrap; width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;Check;</TD><TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Note;</TD><TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Other</TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&nbsp;(held
    by</TD><TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Selling
    Firm;</TD><TD STYLE="white-space: nowrap; width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Closing
    Agent)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>7.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Default:
                                            </B>(check only one) <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> Forfeiture
                                            of Earnest Money; <FONT STYLE="font-family: Wingdings">&#120;</FONT> Seller&rsquo;s Election
                                            of Remedies</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt"><B>8.</B></FONT></TD><TD STYLE="white-space: nowrap; width: 17%"><FONT STYLE="font-size: 10pt"><B>Title
                                            Insurance Company:&nbsp;&nbsp; </B></FONT></TD>
                                                                                                       <TD STYLE="border-bottom: Black 1pt solid; width: 80%"><FONT STYLE="font-style: normal; font-weight: normal">First
                                            American Title</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt"><B>9.</B></FONT></TD><TD STYLE="white-space: nowrap; width: 11%"><FONT STYLE="font-size: 10pt"><B>Closing
                                            Agent:</B></FONT></TD>
                                                                                                       <TD STYLE="border-bottom: Black 1pt solid; width: 43%"><FONT STYLE="font-style: normal; font-weight: normal">First
                                            American Title</FONT></TD>
                                                                                                       <TD STYLE="border-bottom: Black 1pt solid; width: 43%"><FONT STYLE="font-size: 10pt">[***]</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; width: 3%">10.</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: left">Closing Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 15%">October &nbsp;2,
    2017&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; width: 2%">;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; width: 12%; text-align: left">Possession Date: <FONT STYLE="font-family: Wingdings; font-style: normal; font-weight: normal">&#120;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 12%; text-align: left">&nbsp;on Closing; <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 6%">Other&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 40%">&nbsp;</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-top: 0pt; margin-bottom: 0pt"><B>11.&#8239;&#8239;Services of Closing Agent
for Payment of Utilities: </B><FONT STYLE="font-family: Wingdings">&#168;</FONT> Requested (attach NWMLS Form&nbsp;22K); <FONT STYLE="font-family: Wingdings">&#120;
</FONT>Waived</P>



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>12.</B></TD><TD><B>Charges/Assessments Levied Before but Due After Closing: </B><FONT STYLE="font-family: Wingdings">&#168;
                                         </FONT>assumed by Buyer; <FONT STYLE="font-family: Wingdings">&#120;</FONT> prepaid in full
                                         by Seller at Closing</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>13.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Seller Citizenship
                                            (FIRPTA): </B>Seller <FONT STYLE="font-family: Wingdings">&#168;</FONT> is; <FONT STYLE="font-family: Wingdings">&#120;
                                            </FONT>is not a foreign person for purposes of U.S. income taxation</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>14.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Subdivision: </B>The
                                            Property <FONT STYLE="font-family: Wingdings">&#120;</FONT> must be subdivided before </FONT>
                                            <B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U><FONT STYLE="font-style: normal; font-weight: normal">September&nbsp;22,
                                            2017&nbsp;&nbsp;&nbsp;</FONT><B>&nbsp;&nbsp;&nbsp; </B></U> <FONT STYLE="font-size: 10pt">;
                                            <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT> is not required to be subdivided</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; width: 3%">15.</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: left"><B>Feasibility Contingency
    Expiration Date: </B><FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 6%; text-align: center">30</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: left">&nbsp;days after mutual acceptance;
    <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: left">Other</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; width: 3%">16.</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left"><B>Agency Disclosure:</B></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 17%; text-align: left">Selling Broker represents:</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;
    </FONT>Buyer;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;
    </FONT>Seller;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;
    </FONT>both parties;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 33%; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;
    </FONT>neither party</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: left">Listing Broker represents:</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;
    Seller;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;
    </FONT>both parties</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt"><B>17.</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 97%"><FONT STYLE="font-size: 10pt"><B>Addenda:
                                            </B></FONT>22ef, 23t, 31, 89, Form&nbsp;17/Sellers Disclosure, Proposed Plat Map Exhibit&nbsp;A
                                            by Blackhawk Development Inc.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                    </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Xiaojing Guo</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">8/3/2017</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">/s/ Ryan Vickery</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">8/4/2017</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"> ANTCREEK, LLC</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Date</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"> BLACKHAWK DEVELOPMENT INC</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Buyer's
                                            Signature</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">251 High
    Street Suite&nbsp;B</FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Date</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Seller's
                                            Signature</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">1300 S Webb
    Pl</FONT></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Buyer's
                                            Address</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Palo Alto,
    CA 94301</FONT></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Seller's
                                            Address</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">East Wenatchee,
    WA 98802-9396</FONT></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">City,
                                            State, Zip</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">City,
                                            State, Zip</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Phone
                                            No.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Fax
    No.</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Phone
                                            No.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Fax
    No.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Buyer's
                                            E-mail Address</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Seller's
                                            E-mail Address</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">NA</FONT></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Selling
    Firm</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">MLS
    Office No.</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Listing
    Firm</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">MLS
    Office No.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">[***]</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">[***]</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">NA</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Selling
                                            Broker (Print)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">MLS
                                            LAG No.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Listing
    Broker (Print)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">MLS
    LAG No.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Firm
    Phone No.</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Broker
    Phone No.</FONT></TD>
    <TD STYLE="text-align: right; width: 2%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Firm
    Fax No.</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Firm
    Phone No.</FONT></TD>
    <TD STYLE="width: 17%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Broker
    Phone No.</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Firm
    Fax No.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">[***]</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Selling
                                            Firm Document E-mail Address</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Listing
    Firm Document E-mail Address</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">Selling
                                            Broker's E-mail Address</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">[***]</FONT></P></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Listing
    Broker's E-mail Address</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Selling
    Broker DOL License No.</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Selling
    Firm DOL License No.</FONT></TD>
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Listing
    Broker DOL License No.</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Listing
    Firm DOL License No.</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">&nbsp;&nbsp;</P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Purchase
                                            Price. </B>Buyer shall pay to Seller the Purchase Price, including the Earnest Money, in
                                            cash at Closing, unless </FONT>otherwise specified in this Agreement. Buyer represents that
                                            Buyer has sufficient funds to close this sale in accordance with this Agreement and is not
                                            relying on any contingent source of funds, including funds from loans, the sale of other
                                            property, gifts, retirement, or future earnings, except to the extent otherwise specified
                                            in this Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-left: -0.125in; width: 0.25in"><FONT STYLE="font-size: 10pt"><B>b.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Earnest
                                            Money. </B>Buyer shall deliver the Earnest Money within 2 days after mutual acceptance to
                                            Selling Broker or to </FONT>Closing Agent. If Buyer delivers the Earnest Money to Selling
                                            Broker, Selling Broker will deposit any check to be held by Selling Firm, or deliver any
                                            Earnest Money to be held by Closing Agent, within 3 days of receipt or mutual acceptance,
                                            whichever occurs later. If the Earnest Money is held by Selling Firm and is over $10,000.00
                                            it shall be deposited into an interest bearing trust account in Selling Firm&rsquo;s name
                                            provided that Buyer completes an IRS Form&nbsp;W-9. Interest, if any, after deduction of
                                            bank charges and fees, will be paid to Buyer. Buyer shall reimburse Selling Firm for bank
                                            charges and fees in excess of the interest earned, if any. If the Earnest Money held by Selling
                                            Firm is over $10,000.00 Buyer has the option to require Selling Firm to deposit the Earnest
                                            Money into the Housing Trust Fund Account, with the interest paid to the State Treasurer,
                                            if both Seller and Buyer so agree in writing. If the Buyer does not complete an IRS Form&nbsp;W-9
                                            before Selling Firm must deposit the Earnest Money or the Earnest Money is $10,000.00 or
                                            less, the Earnest Money shall be deposited into the Housing Trust Fund Account. Selling Firm
                                            may transfer the Earnest Money to Closing Agent at Closing. If all or part of the Earnest
                                            Money is to be refunded to Buyer and any such costs remain unpaid, the Selling Firm or Closing
                                            Agent may deduct and pay them therefrom. The parties instruct Closing Agent to provide written
                                            verification of receipt of the Earnest Money and notice of dishonor of any check to the parties
                                            and Brokers at the addresses and/or fax numbers provided herein.</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 0pt 0.25in; text-align: justify">Upon termination of this Agreement,
a party or the Closing Agent may deliver a form authorizing the release of Earnest Money to the other party or the parties. The party(s)&nbsp;shall
execute such form and deliver the same to the Closing Agent. If either party fails to execute the release form, a party may make a written
demand to the Closing Agent for the Earnest Money. Pursuant to RCW 64.04, Closing Agent shall deliver notice of the demand to the other
party within 15 days. If the other party does not object to the demand within 20 days of Closing Agent&rsquo;s notice, Closing Agent
shall disburse the Earnest Money to the party making the demand within 10 days of the expiration of the 20 day period. If Closing Agent
timely receives an objection or an inconsistent demand from the other party, Closing Agent shall commence an interpleader action within
60 days of such objection or inconsistent demand, unless the parties provide subsequent consistent instructions to Closing Agent to disburse
the earnest money or refrain from commencing an interpleader action for a specified period of time. Pursuant to RCW 4.28.080, the parties
consent to service of the summons and complaint for an interpleader action by first class mail, postage prepaid at the party&rsquo;s
usual mailing address or the address identified in this Agreement. If the Closing Agent complies with the preceding process, each party
shall be deemed to have released Closing Agent from any and all claims or liability related to the disbursal of the Earnest Money. If
either party fails to authorize the release of the Earnest Money to the other party when required to do so under this Agreement, that
party shall be in breach of this Agreement. For the purposes of this section, the term Closing Agent includes a Selling Firm holding
the Earnest Money. The parties authorize the party commencing an interpleader action to deduct up to $500.00 for the costs thereof.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>c.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Condition
                                            of Title. </B>Unless otherwise specified in this Agreement, title to the Property shall be
                                            marketable at Closing. The following shall not cause the title to be unmarketable: rights,
                                            reservations, covenants, conditions and restrictions, </FONT>presently of record and general
                                            to the area; easements and encroachments, not materially affecting the value of or unduly
                                            interfering with Buyer&rsquo;s reasonable use of the Property; and reserved oil and/or mining
                                            rights. Monetary encumbrances or liens not assumed by Buyer, shall be paid or discharged
                                            by Seller on or before Closing. Title shall be conveyed by a Statutory Warranty Deed. If
                                            this Agreement is for conveyance of a buyer&rsquo;s interest in a Real Estate Contract, the
                                            Statutory Warranty Deed shall include a buyer&rsquo;s assignment of the contract sufficient
                                            to convey after acquired title. If the Property has been short platted, the Short Plat number
                                            is in the Legal Description.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>d.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Title
                                            Insurance. </B>Seller authorizes Buyer&rsquo;s lender or Closing Agent, at Seller&rsquo;s
                                            expense, to apply for the then-current </FONT>ALTA form of standard form owner&rsquo;s policy
                                            of title insurance from the Title Insurance Company. If Seller previously received a preliminary
                                            commitment from a Title Insurance Company that Buyer declines to use, Buyer shall pay any
                                            cancellation fees owing to the original Title Insurance Company. Otherwise, the party applying
                                            for title insurance shall pay any title cancellation fee, in the event such a fee is assessed.
                                            The Title Insurance Company shall send a copy of the preliminary commitment to Seller, Listing
                                            Broker, Buyer and Selling Broker. The preliminary commitment, and the title policy to be
                                            issued, shall contain no exceptions other than the General Exclusions and Exceptions in said
                                            standard form and Special Exceptions consistent with the Condition of Title herein provided.
                                            If title cannot be made so insurable prior to the Closing Date, then as Buyer&rsquo;s sole
                                            and exclusive remedy, the Earnest Money shall, unless Buyer elects to waive such defects
                                            or encumbrances, be refunded to the Buyer, less any unpaid costs described in the Agreement,
                                            and this Agreement shall thereupon be terminated. Buyer shall have no right to specific performance
                                            or damages as a consequence of Seller&rsquo;s inability to provide insurable title.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>e.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Closing
                                            and Possession. </B>This sale shall be closed by the Closing Agent on the Closing Date. &ldquo;Closing&rdquo;
                                            means the </FONT>date on which all documents are recorded and the sale proceeds are available
                                            to Seller. If the Closing Date falls on a Saturday, Sunday, legal holiday as defined in RCW
                                            1.16.050, or day when the county recording office is closed, the Closing Agent shall close
                                            the transaction on the next day that is not a Saturday, Sunday, legal holiday, or day when
                                            the county recording office is closed. Buyer shall be entitled to possession at 9:00 p.m.&nbsp;on
                                            the Possession Date. Seller shall maintain the Property in its present condition, normal
                                            wear and tear excepted, until the Buyer is entitled to possession. Buyer reserves the right
                                            to walk through the Property within 5 days of Closing to verify that Seller has maintained
                                            the Property as required by this paragraph. Seller shall not enter into or modify existing
                                            leases or rental agreements, service contracts, or other agreements affecting the Property
                                            which have terms extending beyond Closing without first obtaining Buyer&rsquo;s consent,
                                            which shall not be unreasonably withheld.</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">&nbsp;</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>f.</B></TD><TD STYLE="text-align: justify"><B>Section&nbsp;1031 Like-Kind Exchange. </B>If either Buyer
                                        or Seller intends for this transaction to be a part of a Section&nbsp;1031 like-kind exchange,
                                        then the other party shall cooperate in the completion of the like-kind exchange so long as the
                                        cooperating party incurs no additional liability in doing so, and so long as any expenses (including
                                        attorneys' fees and costs) incurred by the cooperating party that are related only to the exchange
                                        are paid or reimbursed to the cooperating party at or prior to Closing. Notwithstanding the Assignment
                                        paragraph of this Agreement, any party completing a Section&nbsp;1031 like-kind exchange may
                                        assign this Agreement to its qualified intermediary or any entity set up for the purposes of
                                        completing a reverse exchange.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>g.</B></TD><TD STYLE="text-align: justify"><B>Closing Costs and Prorations and Charges and Assessments.
                                        </B>Seller and Buyer shall each pay one-half of the escrow fee unless otherwise required by applicable
                                        FHA or VA regulations. Taxes for the current year, rent, interest, and lienable homeowner&rsquo;s
                                        association dues shall be prorated as of Closing. Buyer shall pay Buyer&rsquo;s loan costs, including
                                        credit report, appraisal charge and lender&rsquo;s title insurance, unless provided otherwise
                                        in this Agreement. If any payments are delinquent on encumbrances which will remain after Closing,
                                        Closing Agent is instructed to pay such delinquencies at Closing from money due, or to be paid
                                        by, Seller. Buyer shall pay for remaining fuel in the fuel tank if, prior to Closing, Seller
                                        obtains a written statement from the supplier as to the quantity and current price and provides
                                        such statement to the Closing Agent. Seller shall pay all utility charges, including unbilled
                                        charges. Unless waived in Specific Term No.&nbsp;11, Seller and Buyer request the services of
                                        Closing Agent in disbursing funds necessary to satisfy unpaid utility charges in accordance with
                                        RCW 60.80 and Seller shall provide the names and addresses of all utilities providing service
                                        to the Property and having lien rights (attach NWMLS Form&nbsp;22K Identification of Utilities
                                        or equivalent).</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 0pt 0.25in; text-align: justify">Buyer is advised to verify the existence
and amount of any local improvement district, capacity or impact charges or other assessments that may be charged against the Property
before or after Closing. Seller will pay such charges that are or become due on or before Closing. Charges levied before Closing, but
becoming due after Closing shall be paid as agreed in Specific Term No.12.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>h.</B></TD><TD STYLE="text-align: justify"><B>Sale Information. </B>Listing Broker and Selling Broker are
                                        authorized to report this Agreement (including price and all terms) to the Multiple Listing Service
                                        that published it and to its members, financing institutions, appraisers, and anyone else related
                                        to this sale. Buyer and Seller expressly authorize all Closing Agents, appraisers, title insurance
                                        companies, and others related to this Sale, to furnish the Listing Broker and/or Selling Broker,
                                        on request, any and all information and copies of documents concerning this sale.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>i.</B></TD><TD STYLE="text-align: justify"><B>Seller Citizenship and FIRPTA. </B>Seller warrants that the
                                        identification of Seller&rsquo;s citizenship status for purposes of U.S. income taxation in Specific
                                        Term No.&nbsp;13 is correct. Seller shall execute a certification (NWMLS Form&nbsp;22E or equivalent)
                                        under the Foreign Investment In Real Property Tax Act (&ldquo;FIRPTA&rdquo;) at Closing and provide
                                        the certification to the Closing Agent. If Seller is a foreign person for purposes of U.S. income
                                        taxation, and this transaction is not otherwise exempt from FIRPTA, Closing Agent is instructed
                                        to withhold and pay the required amount to the Internal Revenue Service.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>j.</B></TD><TD STYLE="text-align: justify"><B>Notices and Delivery of Documents. </B>Any notice related
                                        to this Agreement (including revocations of offers or counteroffers) must be in writing. Notices
                                        to Seller must be signed by at least one Buyer and shall be deemed delivered only when the notice
                                        is received by Seller, by Listing Broker, or at the licensed office of Listing Broker. Notices
                                        to Buyer must be signed by at least one Seller and shall be deemed delivered only when the notice
                                        is received by Buyer, by Selling Broker, or at the licensed office of Selling Broker. Documents
                                        related to this Agreement, such as NWMLS Form&nbsp;17C,&nbsp;Information on Lead-Based Paint
                                        and Lead-Based Paint Hazards, Public Offering Statement or Resale Certificate, and all other
                                        documents shall be delivered pursuant to this paragraph. Buyer and Seller must keep Selling Broker
                                        and Listing Broker advised of their whereabouts in order to receive prompt notification of receipt
                                        of a notice.</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 0pt 0.25in; text-align: justify">Facsimile transmission of any notice
or document shall constitute delivery. E-mail transmission of any notice or document (or a direct link to such notice or document) shall
constitute delivery when: (i)&nbsp;the e-mail is sent to both Selling Broker and Selling Firm or both Listing Broker and Listing Firm
at the e-mail addresses specified on page&nbsp;one of this Agreement; or (ii)&nbsp;Selling Broker or Listing Broker provide written acknowledgment
of receipt of the e-mail (an automatic e-mail reply does not constitute written acknowledgment). At the request of either party, or the
Closing Agent, the parties will confirm facsimile or e-mail transmitted signatures by signing an original document.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>k.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Computation
                                            of Time. </B>Unless otherwise specified in this Agreement, any period of time measured in
                                            days and stated in this Agreement shall start on the day following the event commencing the
                                            period and shall expire at 9:00 p.m.&nbsp;of the last calendar day of the specified period
                                            of time. Except for the Possession Date, if the last day is a Saturday, Sunday or legal holiday
                                            as defined in RCW 1.16.050, the specified period of time shall expire on the next day that
                                            is not a Saturday, Sunday or legal holiday. Any specified period of 5 days or less, except
                                            for any time period relating to the</FONT> Possesion Date, shall not include Saturdays, Sundays
                                            or legal holidays. If the parties agree that an event will occur on a specific calendar date,
                                            the event shall occur on that date, except for the Closing Date, which, if it falls on a
                                            Saturday, Sunday, legal holiday as defined in RCW 1.16.050, or day when the county recording
                                            office is closed, shall occur on the next day that is not a Saturday, Sunday, legal holiday,
                                            or day when the county recording office is closed. If the parties agree upon and attach a
                                            legal description after this Agreement is signed by the offeree and delivered to the offeror,
                                            then for the purposes of computing time, mutual acceptance shall be deemed to be on the date
                                            of delivery of an accepted offer or counteroffer to the offeror, rather than on the date
                                            the legal description is attached. Time is of the essence of this Agreement.</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">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>VACANT LAND PURCHASE
AND SALE AGREEMENT&nbsp;</B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>l.</B></TD><TD STYLE="text-align: justify"><B>Integration
                                            and Electronic Signatures. </B>This Agreement constitutes the entire understanding between
                                            the parties and supersedes all prior or contemporaneous understandings and representations.
                                            No modification of this Agreement shall be effective unless agreed in writing and signed
                                            by Buyer and Seller. The parties acknowledge that a signature in electronic form has the
                                            same legal effect and validity as a handwritten signature.</TD>
</TR></TABLE>



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><B>m.</B></TD><TD STYLE="text-align: justify"><B>Assignment. </B>Buyer may not
                                            assign this Agreement, or Buyer&rsquo;s rights hereunder, without Seller&rsquo;s prior written
                                            consent, unless the parties indicate that assignment is permitted by the addition of &ldquo;and/or
                                            assigns&rdquo; on the line identifying the Buyer on the first page&nbsp;of this Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><B>n.</B></TD><TD STYLE="text-align: justify"><B>Default. </B>In the event Buyer
                                            fails, without legal excuse, to complete the purchase of the Property, then the following
                                            provision, as identified in Specific Term No.&nbsp;7, shall apply:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>i.</B></TD><TD STYLE="text-align: justify"><B>Forfeiture of Earnest Money.
                                            </B>That portion of the Earnest Money that does not exceed five percent (5%) of the Purchase
                                            Price shall be forfeited to the Seller as the sole and exclusive remedy available to Seller
                                            for such failure.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>ii.</B></TD><TD STYLE="text-align: justify"><B>Seller&rsquo;s Election of
                                            Remedies. </B>Seller may, at Seller&rsquo;s option, (a)&nbsp;keep the Earnest Money as liquidated
                                            damages as the sole and exclusive remedy available to Seller for such failure, (b)&nbsp;bring
                                            suit against Buyer for Seller&rsquo;s actual damages, (c)&nbsp;bring suit to specifically
                                            enforce this Agreement and recover any incidental damages, or (d)&nbsp;pursue any other rights
                                            or remedies available at law or equity.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>o.</B></FONT></TD><TD STYLE="text-align: justify"><B>Professional
                                            Advice and Attorneys' Fees. </B>Buyer and Seller are advised to seek the counsel of an attorney
                                            and a certified public accountant to review the terms of this Agreement. Buyer and Seller
                                            shall pay their own fees incurred for such review. However, if Buyer or Seller institutes
                                            suit against the other concerning this Agreement the prevailing party is entitled to reasonable
                                            attorneys&rsquo; fees and expenses.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>p.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Offer.
                                            </B>Buyer shall purchase the Property under the terms and conditions of this Agreement. Seller
                                            shall have until 9:00 </FONT>p.m.&nbsp;on the Offer Expiration Date to accept this offer,
                                            unless sooner withdrawn. Acceptance shall not be effective until a signed copy is received
                                            by Buyer, by Selling Broker or at the licensed office of Selling Broker. If this offer is
                                            not so accepted, it shall lapse and any Earnest Money shall be refunded to Buyer.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><B>q.</B></TD><TD STYLE="text-align: justify"><B>Counteroffer. </B>Any change
                                            in the terms presented in an offer or counteroffer, other than the insertion of or change
                                            to Seller&rsquo;s name and Seller&rsquo;s warranty of citizenship status, shall be considered
                                            a counteroffer. If a party makes a counteroffer, then the other party shall have until 9:00
                                            p.m.&nbsp;on the counteroffer expiration date to accept that counteroffer, unless sooner
                                            withdrawn. Acceptance shall not be effective until a signed copy is received by the other
                                            party, the other party&rsquo;s broker, or at the licensed office of the other party&rsquo;s
                                            broker. If the counteroffer is not so accepted, it shall lapse and any Earnest Money shall
                                            be refunded to Buyer.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><B>r.</B></TD><TD STYLE="text-align: justify"><B>Offer and Counteroffer Expiration
                                            Date. </B>If no expiration date is specified for an offer/counteroffer, the offer/counteroffer
                                            shall expire 2 days after the offer/counteroffer is delivered by the party making the offer/counteroffer,
                                            unless sooner withdrawn.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><B>s.</B></TD><TD STYLE="text-align: justify"><B>Agency Disclosure. </B>Selling
                                            Firm, Selling Firm&rsquo;s Designated Broker, Selling Broker&rsquo;s Branch Manager (if any)
                                            and Selling Broker&rsquo;s Managing Broker (if any) represent the same party that Selling
                                            Broker represents. Listing Firm, Listing Firm&rsquo;s Designated Broker, Listing Broker&rsquo;s
                                            Branch Manager (if any), and Listing Broker&rsquo;s Managing Broker (if any) represent the
                                            same party that the Listing Broker represents. If Selling Broker and Listing Broker are different
                                            persons affiliated with the same Firm, then both Buyer and Seller confirm their consent to
                                            Designated Broker, Branch Manager (if any), and Managing Broker (if any) representing both
                                            parties as dual agents. If Selling Broker and Listing Broker are the same person representing
                                            both parties then both Buyer and Seller confirm their consent to that person and his/her
                                            Designated Broker, Branch Manager (if any), and Managing Broker (if any) representing both
                                            parties as dual agents. All parties acknowledge receipt of the pamphlet entitled &ldquo;The
                                            Law of Real Estate Agency.&rdquo;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>t.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Commission.
                                            </B>Seller and Buyer shall pay a commission in accordance with any listing or commission
                                            agreement to 168 which they are a party. The Listing Firm&rsquo;s commission shall be apportioned
                                            between Listing Firm and Selling Firm as 169 specified in the listing. Seller and Buyer hereby
                                            consent to Listing Firm or Selling Firm receiving compensation from </FONT>more than one
                                            party. Seller and Buyer hereby assign to Listing Firm and Selling Firm, as applicable, a
                                            portion of their funds in escrow equal to such commission(s)&nbsp;and irrevocably instruct
                                            the Closing Agent to disburse the commission(s)&nbsp;directly to the Firm(s). In any action
                                            by Listing or Selling Firm to enforce this paragraph, the prevailing party is entitled to
                                            <FONT STYLE="font-size: 10pt">court costs and reasonable attorneys&rsquo; fees. Seller and
                                            Buyer agree that the Firms are intended third party beneficiaries under this Agreement.</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
                                                                                                                                                               <TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; width: 10%">&nbsp;</TD>
<TD STYLE="text-align: center; width: 10%">&nbsp;</TD>
<TD STYLE="text-align: center; width: 10%">Buyer's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD>
<TD STYLE="text-align: center; width: 10%">Buyer's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD>
<TD STYLE="text-align: center; width: 10%">Seller's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD>
<TD STYLE="text-align: center; width: 10%">Seller's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD></TR>
                                                                                                                                                               <TR STYLE="vertical-align: top">
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ JG</TD>
<TD STYLE="text-align: center">8/3/2017</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ RV</TD>
<TD STYLE="text-align: center">8/4/2017</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
                                                                                                                                                               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="8" STYLE="text-align: center"></TD></TR>
                                                                                                                                                               </TABLE>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>VACANT LAND PURCHASE
AND SALE AGREEMENT&nbsp;</B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><B>u.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Feasibility
                                            Contingency. </B>It is the Buyer&rsquo;s responsibility to verify before the Feasibility
                                            Contingency Expiration Date identified in Specific Term No.15 whether or not the Property
                                            can be platted, developed and/or built on (now or in the future) and what it will cost to
                                            do this. Buyer should not rely on any oral statements concerning this made by the Seller,
                                            Listing Broker or Selling Broker. Buyer should inquire at the city or county, and water,
                                            sewer or other special districts in which the Property is located. Buyer&rsquo;s inquiry
                                            should include, but not be limited to: building or development moratoriums applicable to
                                            or being considered for the Property; any special building requirements, including setbacks,
                                            height limits or restrictions on where buildings may be constructed on the Property; whether
                                            the Property is affected by a flood zone, wetlands, shorelands or other environmentally sensitive
                                            area; road, school, fire and any other growth mitigation or impact fees that must be paid;
                                            the procedure and length of time necessary to obtain plat approval and/or a building permit;
                                            sufficient water, sewer and utility and any service connection charges; and all other charges
                                            that must be paid. Buyer and Buyer&rsquo;s agents, representatives, consultants, architects
                                            and engineers shall have the right, from time to time during and after the feasibility contingency,
                                            to enter onto the Property and to conduct any tests or studies that Buyer may need to ascertain
                                            the condition and suitability of the Property for Buyer&rsquo;s intended purpose. Buyer shall
                                            restore the Property and all improvements on the Property to the same condition they were
                                            in prior to the inspection. Buyer shall be responsible for all damages resulting from any
                                            inspection of the Property performed on Buyer&rsquo;s behalf. If the Buyer does not give
                                            notice to the contrary on or before the Feasibility Contingency Expiration Date identified
                                            in Specific Term No.&nbsp;15, it shall be conclusively deemed that Buyer is satisfied as
                                            to development and/or construction feasibility and cost. If Buyer gives notice this Agreement
                                            shall terminate and the Earnest Money shall be refunded to Buyer, less any unpaid costs.</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Seller shall cooperate with Buyer in obtaining
                                            permits or other approvals Buyer may reasonably require for Buyer&rsquo;s intended use of
                                            the Property; provided that Seller shall not be required to incur any liability or expenses
                                            in doing so.</TD></TR>
     </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><B>v.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Subdivision.
                                            </B>If the Property must be subdivided, Seller represents that there has been preliminary
                                            plat approval for the Property and this Agreement is conditioned on the recording of the
                                            final plat containing the Property on or before the date specified in Specific Term No.&nbsp;14.
                                            If the final plat is not recorded by such date, this Agreement shall terminate and the Earnest
                                            Money shall be refunded to Buyer.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><B>w.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Information
                                            Verification Period. </B>Buyer shall have 10 days after mutual acceptance to verify all information
                                            provided from Seller or Listing Firm related to the Property. This contingency shall be deemed
                                            satisfied unless Buyer gives notice identifying the materially inaccurate information within
                                            10 days of mutual acceptance. If Buyer gives timely notice under this section, then this
                                            Agreement shall terminate and the Earnest Money shall be refunded to Buyer.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><B>x.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Property
                                            Condition Disclaimer. </B>Buyer and Seller agree, that except as provided in this Agreement,
                                            all representations and information regarding the Property and the transaction are solely
                                            from the Seller or Buyer, and not from any Broker. The parties acknowledge that the Brokers
                                            are not responsible for assuring that the parties perform their obligations under this Agreement
                                            and that none of the Brokers has agreed to independently investigate or confirm any matter
                                            related to this transaction except as stated in this Agreement, or in a separate writing
                                            signed by such Broker. In addition, Brokers do not guarantee the value, quality or condition
                                            of the Property and some properties may contain building materials, including siding, roofing,
                                            ceiling, insulation, electrical, and plumbing, that have been the subject of lawsuits and/or
                                            governmental inquiry because of possible defects or health hazards. Some properties may have
                                            other defects arising after construction, such as drainage, leakage, pest, rot and mold problems.
                                            Brokers do not have the expertise to identify or assess defective products, materials, or
                                            conditions. Buyer is urged to use due diligence to inspect the Property to Buyer&rsquo;s
                                            satisfaction and to retain inspectors qualified to identify the presence of defective materials
                                            and evaluate the condition of the Property as there may be defects that may only be revealed
                                            by careful inspection. Buyer is advised to investigate whether there is a sufficient water
                                            supply to meet Buyer&rsquo;s needs. Buyer is advised to investigate the cost of insurance
                                            for the Property, including, but not limited to homeowner&rsquo;s, flood, earthquake, landslide,
                                            and other available coverage. Brokers may assist the parties with locating and selecting
                                            third party service providers, such as inspectors or contractors, but Brokers cannot guarantee
                                            or be responsible for the services provided by those third parties. The parties shall exercise
                                            their own judgment and due diligence regarding third-party service providers.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; width: 10%">&nbsp;</TD>
<TD STYLE="text-align: center; width: 10%">&nbsp;</TD>
<TD STYLE="text-align: center; width: 10%">Buyer's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD>
<TD STYLE="text-align: center; width: 10%">Buyer's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD>
<TD STYLE="text-align: center; width: 10%">Seller's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD>
<TD STYLE="text-align: center; width: 10%">Seller's Initials</TD>
<TD STYLE="text-align: center; width: 10%">Date</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ JG</TD>
<TD STYLE="text-align: center">8/3/2017</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ RV</TD>
<TD STYLE="text-align: center">8/4/2017</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ADDENDUM/AMENDMENT TO PURCHASE AND SALE AGREEMENT</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; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following is part of the Purchase and Sale Agreement dated </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August</U></FONT><U>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">3,
2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></U><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">between </FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ANTCREEK,
LLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>(&quot;Buyer&quot;) <FONT STYLE="font-size: 10pt">and </FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BLACKHAWK
DEVELOPMENT INC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>(&quot;Seller&quot;) <FONT STYLE="font-size: 10pt">concerning </FONT> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BLA of Parent Parcel 93700000002,
East Wenatchee, WA 98802&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U> (the &quot;Property&quot;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">IT IS AGREED
BETWEEN THE SELLER AND BUYER AS FOLLOWS:</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Closing
subject to Boundary Line Adjustment of parent parcel. Buyer to agree to layout of boundary line adjustment during feasibility addendum
period.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt">Seller to install vault and
conduit enabling power infrastructure to the site prior to closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Reference
Exhibit&nbsp;&quot;A&quot; attached site map sent by Jeff Moser to buyer. The subject property shall measure 3 acres in size upon closing.
3 acres at XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX</P>

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

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Refer to counter offer addendum.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Buyer
shall option for XXXXXXX days from mutual acceptance for an additional adjoining 2 acres at $XXXXXX per foot, rounded up to $XXXXXXXXXX
price for the 2 acres. Closing shall be the same as 3 acres as part of this purchase and sale agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Closing to be on or before
October&nbsp;2nd, 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Seller to fill out &quot;Form&nbsp;17
Sellers Disclosure&quot; within 2 days of mutual acceptance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Seller to pay Selling Brokerage,
Homes and Equity R.E. Group a sales commission of 2% of total land sale at closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ALL OTHER TERMS AND CONDITIONS of said Agreement remain unchanged.</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 STYLE="white-space: nowrap; width: 7%">Initials: BUYER:</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">&#8239;&#8239;/s/ JG</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">8/3/2017</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;SELLER: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">&#8239;&#8239;/s/ RV</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">8/4/2017</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">&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: 7%">BUYER:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;SELLER: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</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">&nbsp;</P>

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

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

<P STYLE="font: 10pt/2 Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following is part of the Purchase and Sale Agreement dated </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>&nbsp;&nbsp;August</U></FONT><U>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">3,
2017&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT></U><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">between </FONT><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>ANTCREEK,
LLC<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></U>(&quot;Buyer&quot;) <FONT STYLE="font-size: 10pt">and </FONT><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>BLACKHAWK
DEVELOPMENT INC<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></U>(&quot;Seller&quot;) <FONT STYLE="font-size: 10pt">concerning </FONT> <B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>BLA of Parent
Parcel 93700000002, East Wenatchee, WA 98802<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></U> (the &quot;Property&quot;).</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Feasibility
Contingency. </B></FONT>Buyer shall verify within <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>&nbsp;30<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></U></FONT>days (10 days, if not filled in) after mutual acceptance (the &ldquo;Feasibility Contingency Expiration Date&rdquo;) the
suitability of the Property for Buyer's intended purpose including, but not limited to, whether the Property can be platted, developed
and/or built on (now or in the future) and what it will cost to do this. This Feasibility Contingency SHALL CONCLUSIVELY BE DEEMED WAIVED
unless Buyer gives notice of disapproval on or before the Feasibility Contingency Expiration Date. If Buyer gives a timely notice of
disapproval, then this Agreement shall terminate and the Earnest Money shall be refunded to Buyer. Buyer should not rely on any oral
statements concerning feasibility made by the Seller, Listing Broker or Selling Broker. Buyer should inquire at the city or county, and
water, sewer or other special districts in which the Property is located. Buyer&rsquo;s inquiry shall include, but not be limited to:
building or development moratoria applicable to or being considered for the Property; any special building requirements, including setbacks,
height limits or restrictions on where buildings may be constructed on the Property; whether the Property is affected by a flood zone,
wetlands, shorelands or other environmentally sensitive area; road, school, fire and any other growth mitigation or impact fees that
must be paid; the procedure and length of time necessary to obtain plat approval and/or a building permit; sufficient water, sewer and
utility and any services connection charges; and all other charges that must be paid.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Buyer and Buyer&rsquo;s agents, representatives,
consultants, architects and engineers shall have the right, from time to time during the feasibility contingency, to enter onto the Property
and to conduct any tests or studies that Buyer may need to ascertain the condition and suitability of the Property for Buyer&rsquo;s
intended purpose. Buyer shall restore the Property and all improvements on the Property to the same condition they were in prior to the
inspection. Buyer shall be responsible for all damages resulting from any inspection of the Property performed on Buyer&rsquo;s behalf.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREEMENT TERMINATED IF NOTICE OF SATISFACTION NOT TIMELY
PROVIDED. </B></FONT>If checked, this Agreement shall terminate and Buyer shall receive a refund of the Earnest Money unless Buyer gives
notice to Seller on or before the Feasibility Contingency Expiration Date that the Property is suitable for Buyer&rsquo;s intended purpose.</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 STYLE="white-space: nowrap; width: 7%">Initials: BUYER:</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">&#8239;&#8239;/s/ JG</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">8/3/2017</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;SELLER: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">&#8239;&#8239;/s/ RV</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; width: 18%">8/4/2017</TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">BUYER:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;SELLER: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</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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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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>EARNEST MONEY PROMISSORY NOTE</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">$
[***]<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BLA
of Parent Parcel 93700000002 East
Wenatchee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>,
Washington</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>ANTCREEK,
LLC<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></U></FONT> (&quot;Buyer&quot;) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">agree(s)&nbsp;to
pay to the order of </FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>First
American Title<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></U></FONT> (Selling Firm or Closing Agent) the sum of <FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>&nbsp;&nbsp;[***]&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></U></FONT>Dollars <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">($ </FONT><U>[***]&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></U>),
as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">within
                                            3 days following mutual acceptance of the Purchase and Sale Agreement.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="white-space: nowrap; width: 0in"></TD><TD STYLE="white-space: nowrap; width: 3%; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;
                                            </FONT>*&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; width: 96%">&nbsp;</TD>
                                                                                                                                                                                 <TD STYLE="padding-bottom: 1pt; white-space: nowrap; text-align: justify; width: 1%">.</TD>
</TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Note is evidence of the obligation to pay Earnest Money under a real estate Purchase and Sale Agreement between the Buyer and </FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><U>&nbsp;&nbsp;BLACKHAWK
DEVELOPMENT INC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U></FONT> (&quot;Seller&quot;) dated <FONT STYLE="font-family: Times New Roman, Times, Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August</U></FONT><U>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">3,
2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></U>. Buyer's failure to pay the Earnest Money strictly
as above shall constitute default on said Purchase and Sale Agreement as well as on this Note.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this Note shall be placed in the hands of
an attorney for collection, or if suit shall be brought to collect any of the balance due on this Note, the Buyer promises to pay reasonable
attorneys&rsquo; fees, and all court and collection costs.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><U>July</U></FONT><U><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">31,
2017</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></U></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BUYER </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 43%">/s/ Xiaojing Guo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><U>ANTCREEK, LLC</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BUYER</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">* &quot;On closing&quot;
or similar language is not recommended. Use a definite date.</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"></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>RECEIPT FOR EARNEST MONEY</B></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 STYLE="white-space: nowrap; width: 1%; font-size: 10pt">This Receipt is for Earnest Money received as part of the Purchase and
    Sale Agreement dated</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; width: 99%; font-size: 10pt">08/03/2017</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<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="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">between</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; width: 98%; font-size: 10pt"><FONT STYLE="font-size: 10pt">ANTCREEK,
    LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(&quot;Buyer&quot;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">and </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 98%; font-size: 10pt"><FONT STYLE="font-size: 10pt">BLACKHAWK
    DEVELOPMENT INC</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(&quot;Seller&quot;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-style: normal">concerning </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; width: 98%; font-size: 10pt"><FONT STYLE="font-size: 10pt">BLA
    of Parent Parcel 93700000002, East Wenatchee, WA 98802 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(the &quot;Property&quot;).</FONT></TD></TR>
  </TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><FONT STYLE="color: Black">On <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XXXXXXXXXXXXX&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#8239;,
the undersigned received earnest money from Buyer in the amount <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of
$ </FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><U>10,000.00</U></FONT><U><FONT STYLE="color: Black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT STYLE="color: Black">by&nbsp;<FONT STYLE="font-family: Wingdings">&#120;
</FONT>personal check&nbsp; <FONT STYLE="font-family: Wingdings">&#168;</FONT> cashier's check&nbsp; <FONT STYLE="font-family: Wingdings">&#168;
</FONT>promissory note&nbsp; <FONT STYLE="font-family: Wingdings">&#168;</FONT> cash other ( <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>).</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="color: Black">Jeff Hallman</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="color: Black">Print Name</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="color: Black">Agent509
                                            | Homes&nbsp;&amp; Equity RE Group</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="color: Black">Firm (Company)</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="color: Black">/s/
Jeff Hallman</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Signature
                                            </FONT><FONT STYLE="color: Black">Jeff Hallman</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings; color: Black">&#120;</FONT></TD>
               <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="color: Black">Selling Broker</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
               <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings; color: Black">&#168;</FONT><FONT STYLE="color: Black">&nbsp;</FONT></TD>
               <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="color: Black">Closing Agent</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
               <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left; width: 3%"><FONT STYLE="font-family: Wingdings; color: Black">&#168;</FONT><FONT STYLE="color: Black">&nbsp;</FONT></TD>
               <TD STYLE="text-align: left; width: 4%"><FONT STYLE="color: Black">Other</FONT></TD>
               <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 43%"><FONT STYLE="color: Black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
     </TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">NOTE:
If the Earnest Money is cash, you must deposit it or deliver it not later than the first banking day following receipt, regardless of
the terms of the Purchase and Sale Agreement.</FONT></P>

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

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

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>EVIDENCE
OF FUNDS ADDENDUM</B></FONT></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>TO PURCHASE &amp; SALE
AGREEMENT</B></P>

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

<P STYLE="font: 10pt/2 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following is part of the Purchase and Sale agreement dated </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August</U></FONT><U>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">3,
2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></U><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">between </FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ANTCREEK,
LLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>(&quot;Buyer&quot;) <FONT STYLE="font-size: 10pt">and </FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BLACKHAWK
DEVELOPMENT INC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>(&quot;Seller&quot;) <FONT STYLE="font-size: 10pt">concerning </FONT> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BLA of Parent Parcel 93700000002,
East Wenatchee, WA 98802&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U> (&quot;the Property&quot;).</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1f3763"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black"><B>1.</B></FONT></TD><TD><FONT STYLE="color: Black">DEFINITIONS.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; 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">&quot;Evidence&quot; means document(s)&nbsp;from
                                            a financial institution(s)&nbsp;in the United States showing that Buyer has sufficient cash
                                            or cash equivalent in United States funds.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; 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">&quot;Non-Contingent Funds&quot; means
                                            funds that Buyer currently has in its possession and for which there is no contingency, such
                                            as financing (NWMLS Form&nbsp;22A or equivalent), sale of Buyer's property (NWMLS Form&nbsp;22B
                                            or equivalent), or pending sale of Buyer&rsquo;s property (NWMLS Form&nbsp;22Q or equivalent).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; 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">&ldquo;Contingent Funds&rdquo; means
                                            funds that Buyer does not currently have and expects to receive from another source prior
                                            to Closing, such as a loan, proceeds from the sale of other property or stock, retirement
                                            funds, foreign funds, a gift, or future earnings.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify"><B>EVIDENCE OF NON-CONTINGENT
                                            FUNDS. </B>Buyer is relying on Non-Contingent Funds for payment of the Purchase Price. Buyer
                                            shall provide Evidence to Seller of such funds within <FONT STYLE="font-style: normal; font-weight: normal"><U>7
                                            </U></FONT> days (3 days if not filled in) of mutual acceptance. Unless Buyer discloses other
                                            sources of funds for the payment of the Purchase Price, Buyer represents that the Non-Contingent
                                            Funds are sufficient to pay the Purchase Price. Buyer shall not use such Non-Contingent Funds
                                            for any purpose other than the purchase of the Property without Seller&rsquo;s prior written
                                            consent. If Buyer fails to timely provide such Evidence, Seller may give notice terminating
                                            this Agreement any time before such Evidence is provided. Upon Seller&rsquo;s notice of termination
                                            under this Addendum, the Earnest Money shall be refunded to Buyer.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD><B>DISCLOSURE OF SOURCES OF CONTINGENT FUNDS.
                                            </B>Buyer is relying on the following Contingent Funds for the Purchase Price:</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale
    of the following property owned by Buyer</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gift of
    $ <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </U>from</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Funds not
    readily convertible to liquid United States funds (describe):</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other (describe):</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</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; text-align: justify; margin: 0pt 0 0pt 0.5in">Buyer shall provide Evidence to Seller
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;days (10 days if not filled
in) prior to Closing that the funds relied upon in Section&nbsp;3 have been received or are immediately available to Buyer. If Buyer
fails to timely provide such Evidence, Seller may give notice terminating this Agreement any time before such Evidence is provided. Buyer
shall provide Seller with additional information about such funds as may be reasonably requested by Seller from time to time. Upon Seller&rsquo;s
notice of termination under this Addendum, the Earnest Money shall be refunded to Buyer.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify"><B>BUYER
                                            DEFAULT. </B>If Buyer fails to timely close because the Contingent Funds identified in Paragraph
                                            3 are not available by Closing, Buyer shall be in default and Seller shall be entitled to
                                            remedies as provided for in the Agreement.</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">&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="white-space: nowrap; width: 7%">Initials: BUYER:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 18%">&#8239;&#8239;/s/ JG</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;DATE: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 18%">8/3/2017</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;SELLER: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 18%">&#8239;&#8239;/s/ RV</TD>
    <TD STYLE="white-space: nowrap; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;DATE: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 18%">8/4/2017</TD></TR>
</TABLE>

<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 STYLE="width: 7%">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;BUYER:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;DATE: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;SELLER: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;DATE: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 18%">&nbsp;</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TITLE CONTINGENCY ADDENDUM TO <BR>
PURCHASE&nbsp;&amp; SALE AGREEMENT</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">The following is part of the Purchase and
    Sale Agreement dated&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; width: 99%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;August&nbsp;3,
    2017</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">between</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; width: 98%; font-size: 10pt"><FONT STYLE="font-size: 10pt">ANTCREEK,
    LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(&quot;Buyer&quot;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; white-space: nowrap; font-size: 10pt">Buyer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Buyer</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">and </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 98%; font-size: 10pt"><FONT STYLE="font-size: 10pt">BLACKHAWK
    DEVELOPMENT INC</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(&quot;Seller&quot;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt">Seller&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Seller</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-style: normal">concerning </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; width: 98%; font-size: 10pt"><FONT STYLE="font-size: 10pt">BLA
    of Parent Parcel 93700000002, East Wenatchee, WA 98802 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(the &quot;Property&quot;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-size: 10pt">City&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    State &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zip&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><B>Title
                                            Contingency.</B> This Agreement is subject to Buyer's review of a preliminary commitment
                                            for title insurance, together with any easements, covenants, conditions and restrictions
                                            of record. Buyer shall have <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                            </U>days (5 days if not filled in) from <FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;the
                                            date of Buyer&rsquo;s receipt of the preliminary commitment for title insurance; or <FONT STYLE="font-family: Wingdings">&#168;
                                            </FONT>mutual acceptance (from the date of Buyer&rsquo;s receipt, if neither box checked)
                                            to give notice of Buyer's disapproval of exceptions contained in the preliminary commitment.</TD>
</TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Seller shall have <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>days (5 days if not filled in) after Buyer's notice of disapproval to give Buyer notice that Seller will clear all disapproved exceptions.
Seller shall have until the Closing Date to clear all disapproved exceptions.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">If Seller does not give timely notice
that Seller will clear all disapproved exceptions, Buyer may terminate this Agreement within 3 days after the deadline for Seller's notice.
In the event Buyer elects to terminate the Agreement, the Earnest Money shall be returned to Buyer. If Buyer does not timely terminate
the Agreement, Buyer shall be deemed to have waived all objections to title, which Seller did not agree to clear.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><B>Supplemental
                                            Title Reports. </B>If supplemental title reports disclose new exception(s)&nbsp;to the title
                                            commitment, then the above time periods and procedures for notice, correction, and termination
                                            for those new exceptions shall apply to the date of Buyer's receipt of the supplemental title
                                            report. The Closing date shall be extended as necessary to accommodate the foregoing times
                                            for notices.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><B>Marketable
                                            Title. </B>This Addendum does not relieve Seller of the obligation to provide marketable
                                            title at Closing as provided for in the Agreement.</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ JG</TD>
    <TD STYLE="text-align: right">8/3/2017</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;/s/ RV</FONT></TD>
    <TD STYLE="text-align: right">8/4/2017</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="font-size: 10pt">Buyer's Initials</FONT></TD>
    <TD STYLE="text-align: center; width: 5%"><FONT STYLE="font-size: 10pt">Date&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="text-align: left; width: 20%"><FONT STYLE="font-size: 10pt">Buyer's Initials</FONT></TD>
    <TD STYLE="text-align: center; width: 5%"><FONT STYLE="font-size: 10pt">Date</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;Seller's Initials</FONT></TD>
    <TD STYLE="text-align: center; width: 5%"><FONT STYLE="font-size: 10pt">Date&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-size: 10pt">Seller's Initials</FONT></TD>
    <TD STYLE="text-align: center; width: 5%"><FONT STYLE="font-size: 10pt">Date</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">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 7%"><FONT STYLE="font-size: 10pt"><B>SELLER:</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 93%"><B>BLACKHAWK DEVELOPMENT INC</B></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; text-indent: 0; text-align: left">To be used in transfers of unimproved
residential real property, including property zoned for residential use that is not improved by one or more residential dwelling units,
a residential condominium, a residential timeshare or a mobile or manufactured home. Unimproved residential real property does not include
commercial real estate as defined in RCW 60.42.005 or property defined as &quot;timber land&quot; under RCW 84.34.020. See RCW Chapter
64.06 for further information.</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"><B>INSTRUCTIONS TO THE SELLER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">Please complete the following form. Do not leave
any spaces blank. If the question clearly does not apply to the property check &ldquo;NA.&rdquo; If the answer is &ldquo;yes&rdquo; to
any asterisked (*) item(s), please explain on attached sheets. Please refer to the line number(s)&nbsp;of the question(s)&nbsp;when you
provide your explanation(s). For your protection you must date and initial each page&nbsp;of this disclosure statement and each attachment.
Delivery of the disclosure statement must occur not later than five (5)&nbsp;business days, unless otherwise agreed, after mutual acceptance
of a written purchase and sale agreement between Buyer and Seller.</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"><B>NOTICE TO THE BUYER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">THE FOLLOWING DISCLOSURES ARE MADE BY THE SELLER
ABOUT THE CONDITION OF THE PROPERTY LOCATED AT <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BLA
of Parent Parcel 93700000002&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
CITY <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;East Wenatchee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
STATE <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WA&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
ZIP <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98802&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
COUNTY <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>(&ldquo;THE
PROPERTY&rdquo;) OR AS &nbsp;LEGALLY DESCRIBED ON THE ATTACHED EXHIBIT&nbsp;A.</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">SELLER MAKES THE FOLLOWING DISCLOSURES OF EXISTING MATERIAL FACTS
OR MATERIAL DEFECTS TO BUYER BASED ON SELLER&rsquo;S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME SELLER COMPLETES THIS DISCLOSURE STATEMENT.
UNLESS YOU AND SELLER OTHERWISE AGREE IN WRITING, YOU HAVE THREE (3)&nbsp;BUSINESS DAYS FROM THE DAY SELLER OR SELLER&rsquo;S AGENT DELIVERS
THIS DISCLOSURE STATEMENT TO YOU TO RESCIND THE AGREEMENT BY DELIVERING A SEPARATELY SIGNED WRITTEN STATEMENT OF RESCISSION TO SELLER
OR SELLER&rsquo;S AGENT. IF THE SELLER DOES NOT GIVE YOU A COMPLETED DISCLOSURE STATEMENT, THEN YOU MAY&nbsp;WAIVE THE RIGHT TO RESCIND
PRIOR TO OR AFTER THE TIME YOU ENTER INTO A PURCHASE AND SALE AGREEMENT.</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">THE FOLLOWING ARE DISCLOSURES MADE BY SELLER AND ARE NOT THE REPRESENTATIONS
OF ANY REAL ESTATE LICENSEE OR OTHER PARTY. THIS INFORMATION IS FOR DISCLOSURE ONLY AND IS NOT INTENDED TO BE A PARTOFANY WRITTEN AGREEMENT
BETWEEN BUYER AND SELLER.</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">FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC CONDITION OF
THIS PROPERTY YOU ARE ADVISED TO OBTAIN AND PAY FOR THE SERVICES OF QUALIFIED EXPERTS TO INSPECT THE PROPERTY, WHICH MAY&nbsp;INCLUDE,
WITHOUT LIMITATION, ARCHITECTS, ENGINEERS, LAND SURVEYORS, PLUMBERS, ELECTRICIANS, ROOFERS, BUILDING INSPECTORS, ON-SITE WASTEWATER TREATMENT
INSPECTORS, OR STRUCTURAL PEST INSPECTORS. THE PROSPECTIVE BUYER AND SELLER MAY&nbsp;WISH TO OBTAIN PROFESSIONAL ADVICE OR INSPECTIONS
OF THE PROPERTY OR TO PROVIDE APPROPRIATE PROVISIONS IN A CONTRACT BETWEEN THEM WITH RESPECT TO ANY ADVICE,&nbsp;INSPECTION, DEFECTS
OR WARRANTIES.</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"><B>SELLER&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;IS/&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;IS
NOT OCCUPYING THE PROPERTY.</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"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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>SELLER DISCLOSURE STATEMENT</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>UNIMPROVED PROPERTY</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>(Continued)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><B>I.</B></TD><TD><B>SELLER&rsquo;S DISCLOSURES:</B></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 0pt 0.5in">*If you answer &ldquo;Yes&rdquo; to a question with an asterisk
(*), please explain your answer and attach documents, if available and not otherwise publicly recorded. If necessary, use an attached
sheet.</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 STYLE="text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TITLE</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>YES</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NO</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DON'T
    KNOW</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Do you have legal authority
    to sell the property? If no, please explain.</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*B.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is title to the property
    subject to any of the following?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) First right of refusal</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) Option</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) Lease or rental agreement</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) Life estate?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*C.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any encroachments,
    boundary agreements, or boundary disputes?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*D.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is there a private road
    or easement agreement for access to the property?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*E.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any rights-of-way,
    easements or access limitations that may affect the Buyer&rsquo;s use of the property?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</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>

<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SELLER DISCLOSURE STATEMENT</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>UNIMPROVED PROPERTY</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>(Continued)</I></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><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>YES</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NO</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DON'T KNOW</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*F.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any written agreements
    for joint maintenance of an easement or right-of-way?</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*G.
    </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is there any study, survey
    project, or notice that would adversely affect the property?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*H.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any pending or
    existing assessments against the property?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*I.
    </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any zoning violations,
    nonconforming uses, or any unusual restrictions on the property that would affect future construction or remodeling?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*J.
    </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is there a boundary survey
    for the property?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*K.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any covenants,
    conditions, or restrictions recorded against the property?</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PLEASE NOTE: </B>Covenants,
    conditions, and restrictions which purport to forbid or restrict the conveyance, encumbrance, occupancy, or lease of real property
    to individuals based on race, creed, color, sex, national origin, familial status, or disability are void, unenforceable, and illegal.
    RCW 49.60.224.</FONT></TD>
    <TD STYLE="text-align: center"></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&#8239;</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="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD>
    <TD COLSPAN="4" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WATER</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Household Water</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Does the property
    have potable water supply?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If yes, the source
    of water for the property is:&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Private
    or publicly owned water system</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Private
    well serving only the property&nbsp;&nbsp;&nbsp; * </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Other
    water system</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*If shared, are
    there any written agreements?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*(3)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is there an easement
    (recorded or unrecorded) for access to and/or maintenance of the water source?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*(4)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any problems
    or repairs needed?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is there a connection
    or hook-up charge payable before the property can be connected to the water main?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Have you obtained
    a certificate of water availability from the water purveyor serving the property? (If yes, please attach a copy.)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Is there a water
    right permit, certificate, or claim associated with household water supply for the property? (If yes, please attach a copy.)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 0.25in; padding-right: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="padding-left: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If yes,
    has the water right permit, certificate, or claim been assigned, transferred, or changed?</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*(b)</FONT></TD>
    <TD STYLE="padding-left: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If yes,
    has all or any portion of the water right not been used for five or more successive years?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="padding-left: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If no or
    don&rsquo;t know, is the water withdrawn from the water source less than 5,000 gallons a day?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*(8)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any defects
    in the operation of the water system (e.g. pipes, tank, pump,&nbsp;etc.)?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD>
    <TD COLSPAN="4" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Irrigation Water</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are there any irrigation
    water rights for the property, such as a water right permit, certificate, or claim? (If yes, please attach a copy.)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="padding-left: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If yes,
    has all or any portion of the water right not been used for five or more successive years?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="padding-left: 9pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If yes,
    has the water right permit, certificate, or claim been assigned, transferred, or changed?</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  </TABLE>

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

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

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SELLER DISCLOSURE STATEMENT</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>UNIMPROVED PROPERTY</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"><I>(Continued)</I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding-right: 5.4pt; padding-left: 5.4pt"><B>&nbsp;</B></TD>
    <TD STYLE="width: 0.25in; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><B>&nbsp;</B></TD>
    <TD STYLE="width: 0.5in; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>YES</B></FONT></TD>
    <TD STYLE="width: 0.5in; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NO</B></FONT></TD>
    <TD STYLE="width: 0.5in; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DON'T
    KNOW</B></FONT></TD>
    <TD STYLE="width: 0.5in; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: right; width: 0.25in">*(2)</TD><TD STYLE="padding-left: 8pt; text-align: justify">Does
                                            the property receive irrigation water from a ditch company, irrigation district, or other
                                            entity?</TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</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 0pt 1in">If so, please identify the entity that supplies water to the
property:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Outdoor
                                            Sprinkler System</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            there an outdoor sprinkler system for the property?</TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                   <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right">*(2)</TD><TD STYLE="padding-left: 8pt; text-align: justify">If
                                            yes, are there any defects in the system?</TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right">*(3)</TD><TD STYLE="padding-left: 8pt; text-align: justify">If
                                            yes, is the sprinkler system connected to irrigation water?</TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                    <TD STYLE="padding-left: 8pt; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B>SEWER/SEPTIC SYSTEM</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD>
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">The
                                            property is served by:</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Public
                                            sewer system</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">On-site
                                            sewage system (including pipes, tanks, drainfields, and all other component parts)</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Other
                                            disposal system</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&#8239;&#8239;&#8239;&#8239;Please describe: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Is
                                            the property subject to any sewage system fees or charges in addition to those covered in
                                            your regularly billed sewer or on-site sewage system maintenance service?</FONT></TD>
                                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">If
                                            the property is connected to an on-site sewage system:</TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right">*(1)</TD><TD STYLE="padding-left: 8pt; text-align: justify">Was a permit issued for its construction?</TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right">*(2)</TD><TD STYLE="padding-left: 8pt; text-align: justify">Was it approved by the local health
                                            department or district following its construction?</TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            the septic system a pressurized system?</TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">Is
                                            the septic system a gravity system?</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right">*(5)</TD><TD STYLE="padding-left: 8pt; text-align: justify">Have
                                            there been any changes or repairs to the on-site sewage system?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right">(6)</TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            the on-site sewage system, including the drainfield, located entirely within the boundaries
                                            of the property?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&#8239;&#8239;&#8239;&#8239;If no, please explain: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>



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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: right">*(7)</TD><TD STYLE="padding-left: 8pt; text-align: justify">Does
                                            the on-site sewage system require monitoring and maintenance services more frequently than
                                            once a year?</TD>
                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                 <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><B>4.</B></TD><TD STYLE="text-align: justify"><B>ELECTRICAL/GAS</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.2in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">Is
                                            the property served by natural gas?</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            there a connection charge for gas?</TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            the property served by electricity?</TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            there a connection charge for electricity?</TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*E.</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Are
                                            there any electrical problems on the property?</TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                                 <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><B>FLOODING</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.2in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="padding-left: 8pt; text-align: justify">Is
                                            the property located in a government designated flood zone or floodplain?</TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</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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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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>SELLER DISCLOSURE STATEMENT</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>UNIMPROVED PROPERTY</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"><I>(Continued)</I></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 STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 0.5in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>YES</B></FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in; padding-left: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NO</B></FONT></TD>
    <TD STYLE="width: 0.5in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DON'T KNOW</B></FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in; padding-left: 4.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SOIL
                                            STABILITY</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*A.</TD><TD STYLE="text-align: justify">Are there any settlement,
                                            earth movement, slides, or similar soil problems on the property?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><B>7.</B></TD><TD STYLE="text-align: justify"><B>ENVIRONMENTAL</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*A.</TD><TD STYLE="text-align: justify">Have there been any
                                            flooding, standing water, or drainage problems on the property that affect the property or
                                            access to the property?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*B.</TD><TD STYLE="text-align: justify">Does any part of the
                                            property contain fill dirt, waste, or other fill material?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*C.</TD><TD STYLE="text-align: justify">Is there any material
                                            damage to the property from fire, wind, floods, beach movements, earthquake, expansive soils,
                                            or landslides?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">Are
                                            there any shorelines, wetlands, floodplains, or critical areas on the property?</TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">*E.</FONT></TD><TD STYLE="text-align: justify">Are
                                            there any substances, materials, or products in or on the property that may be environmental
                                            concerns, such as asbestos, formaldehyde, radon gas, lead-based paint, fuel or chemical storage
                                            tanks, or contaminated soil or water?</TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*F.</TD><TD STYLE="text-align: justify">Has the property been
                                            used for commercial or industrial purposes?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*G.</TD><TD STYLE="text-align: justify">Is there any soil
                                            or groundwater contamination?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*H.</TD><TD STYLE="text-align: justify">Are there transmission
                                            poles or other electrical utility equipment installed, maintained, or buried on the property
                                            that do not provide utility service to the structures on the property?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*I.</TD><TD STYLE="text-align: justify">Has the property been
                                            used as a legal or illegal dumping site?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*J.</TD><TD STYLE="text-align: justify">Has the property been
                                            used as an illegal drug manufacturing site?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
                                                                                <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">*K.</FONT></TD><TD STYLE="text-align: justify">Are
                                            there any radio towers in the area that cause interference with cellular telephone reception?</TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">as threatened or endangered by the government?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>HOMEOWNERS&rsquo; ASSOCIATION/COMMON INTERESTS</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Is
                                            there a homeowners&rsquo; association?</TD>
                                                                                                                                                  <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                  <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                  <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                  <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0.5in">Name of Association and contact information
for an officer, director, employee, or other authorized agent, if any, who may provide the association's financial statements, minutes,
bylaws, fining policy, and other information that is not publicly available: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Are
                                            there regular periodic assessments?</TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                               <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">$<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>per&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;month&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;year</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Other:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*C.</TD><TD STYLE="text-align: justify">Are there any pending
                                            special assessments?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*D.</TD><TD STYLE="text-align: justify">Are there any shared
                                            &ldquo;common areas&rdquo; or any joint maintenance agreements (facilities such as walls,
                                            fences, landscaping, pools, tennis courts, walkways, or other areas co-owned in undivided
                                            interest with others)?</TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><B>9.</B></TD><TD STYLE="text-align: justify"><B>OTHER FACTS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">*A.</FONT></TD><TD STYLE="text-align: justify">Are
                                            there any disagreements, disputes, encroachments, or legal actions concerning the property?</TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">*B.</FONT></TD><TD STYLE="text-align: justify">Does
                                            the property have any plants or wildlife that are designated as species of concern, or listed
                                            as threatened or endangered by the government?</TD>
                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
                                                                                                                                                   <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

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

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

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></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>SELLER DISCLOSURE STATEMENT</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>UNIMPROVED PROPERTY</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"><I>(Continued)</I></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>YES</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NO</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DON'T KNOW</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*C.</FONT></TD>
    <TD STYLE="text-align: justify; width: 0.5in">Is the property classified or designated as forest land or open space?</TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;D.
    </FONT></TD>
    <TD STYLE="text-align: justify">Do you have a forest management plan? If yes, attach.</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*E.</FONT></TD>
    <TD STYLE="text-align: justify">Have any development-related permit applications been submitted to any government agencies?</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">If the answer to E is &ldquo;yes,&rdquo; what is the status or outcome of those applications?</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F
    </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Is the property located within a city, county, or district or within
    a department of natural resources </FONT>fire protection zone that provides fire protection services?</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>10.</B></TD>
    <TD COLSPAN="3"><B>FULL DISCLOSURE BY SELLERS</B></TD>
    <TD STYLE="text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: center"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">A.</TD>
    <TD STYLE="text-align: justify">Other conditions or defects:</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">*Are there any other existing material defects affecting the property that a prospective buyer should
    know about?</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">B.</TD>
    <TD STYLE="text-align: justify">Verification</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: justify">The foregoing answers and attached explanations (if any) are complete and correct to
    the best of Seller&rsquo;s knowledge and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: justify">Seller has received a copy hereof. Seller agrees to defend, indemnify and hold real estate
    licensees harmless from and against any and all claims that the above information is inaccurate. Seller authorizes real estate licensees,
    if any, to deliver a copy of this disclosure statement to other real estate licensees and all prospective buyers of the property.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.125in; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: justify">BLACKHAWK DEVELOPMENT INC</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">If the answer is &ldquo;Yes&rdquo; to any asterisked (*) items,
please explain below (use additional sheets if necessary). Please refer to the line number(s)&nbsp;of the question(s).</FONT>&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>(Continued)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></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><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>II.</B></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTICES TO THE BUYER</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1. </B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SEX OFFENDER REGISTRATION</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">INFORMATION REGARDING REGISTERED SEX OFFENDERS MAY&nbsp;BE OBTAINED FROM LOCAL LAW ENFORCEMENT
    AGENCIES THIS NOTICE IS INTENDED ONLY TO INFORM&nbsp;YOU OF WHERE TO OBTAIN THIS INFORMATION AND IS NOT AN INDICATION OF THE PRESENCE
    OF REGISTERED SEX OFFENDERS.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>&nbsp;</B></TD>
    <TD><B>2.</B></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>PROXIMITY TO FARMING</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">THIS NOTICE IS TO INFORM&nbsp;YOU THAT THE REAL PROPERTY YOU ARE CONSIDERING FOR PURCHASE
    MAY&nbsp;LIE IN CLOSE PROXIMITY TO A FARM. THE OPERATION OF A FARM INVOLVES USUAL AND CUSTOMARY AGRICULTURAL PRACTICES, WHICH ARE
    PROTECTED UNDER RCW 7.48.305, THE WASHINGTON RIGHT TO FARM ACT.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>III. </B></TD>
    <TD COLSPAN="3"><B>BUYER&rsquo;S ACKNOWLEDGEMENT</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>1. </B></TD>
    <TD COLSPAN="2"><B>BUYER HEREBY ACKNOWLEDGES THAT:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">A.</TD>
    <TD STYLE="width: 91%">Buyer has a duty to pay diligent attention to any material defects that are known to Buyer or can be known
    to Buyer by utilizing diligent attention and observation.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>B.</TD>
    <TD>The disclosures set forth in this statement and in any amendments to this statement are made only by the Seller and not by any
    real estate licensee or other party.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>C.</TD>
    <TD>Buyer acknowledges that, pursuant to RCW 64.06.050(2), real estate licensees are not liable for inaccurate information provided
    by Seller, except to the extent that real estate licensees know of such inaccurate information.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>D.</TD>
    <TD>This information is for disclosure only and is not intended to be a part of the written agreement between the Buyer and Seller.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Buyer (which term includes all persons signing the &ldquo;Buyer&rsquo;s acceptance&rdquo; portion of this disclosure statement
    below) has received a copy of this Disclosure Statement (including attachments, if any) bearing Seller&rsquo;s signature(s).</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">DISCLOSURES CONTAINED IN THIS DISCLOSURE STATEMENT ARE PROVIDED BY SELLER BASED ON SELLER&rsquo;S
    ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME SELLER COMPLETES THIS DISCLOSURE. UNLESS BUYER AND SELLER OTHERWISE AGREE IN WRITING,
    BUYER SHALL HAVE THREE (3)&nbsp;BUSINESS DAYS FROM THE DAY SELLER OR SELLER&rsquo;S AGENT DELIVERS THIS DISCLOSURE STATEMENT TO RESCIND
    THE AGREEMENT BY DELIVERING A SEPARATELY SIGNED WRITTEN STATEMENTOFRESCISSION TO SELLER OR SELLER&rsquo;S AGENT. YOU MAY&nbsp;WAIVE
    THE RIGHT TO RESCIND PRIOR TO OR AFTER THE TIME YOU ENTER INTO A SALE AGREEMENT.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS DISCLOSURE STATEMENT AND ACKNOWLEDGES
    THAT THE DISCLOSURES MADE HEREIN ARE THOSE OF THE SELLER ONLY, AND NOT OF ANY REAL ESTATE LICENSEE OR OTHER PARTY.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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: 3%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="text-align: center; width: 46%">8/3/2017</TD>
  <TD STYLE="width: 2%">&nbsp;</TD>
  <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>/s/ ANTCREEK, LLC</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</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>

<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: 3%"><B>&nbsp;</B></TD>
    <TD STYLE="width: 3%"><B>2.</B></TD>
    <TD STYLE="width: 94%"><B>BUYER&rsquo;S WAIVER OF RIGHT TO REVOKE OFFER</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Buyer has read and reviewed the Seller&rsquo;s responses to this Seller Disclosure Statement. Buyer
    approves this statement and waives Buyer&rsquo;s right to revoke Buyer&rsquo;s offer based on this disclosure.</TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></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: 3%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="text-align: center; width: 46%">8/3/2017</TD>
  <TD STYLE="width: 2%">&nbsp;</TD>
  <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>/s/ ANTCREEK, LLC</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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: 3%"><B>&nbsp;</B></TD>
    <TD STYLE="width: 3%"><B>3.</B></TD>
    <TD STYLE="width: 94%"><B>BUYER&rsquo;S WAIVER OF RIGHT TO RECEIVE COMPLETED SELLER DISCLOSURE STATEMENT</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Buyer has been advised of Buyer's right to receive a completed Seller Disclosure Statement. Buyer
    waives that right. However, if the answer to any of the questions in the section entitled &ldquo;Environmental&rdquo; would be &ldquo;yes,&rdquo;
    Buyer may not waive the receipt of the &ldquo;Environmental&rdquo; section of the Seller Disclosure Statement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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: 3%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="text-align: center; width: 46%">8/3/2017</TD>
  <TD STYLE="width: 2%">&nbsp;</TD>
  <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>/s/ ANTCREEK, LLC</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
